Cameron Mansson-Perrone

could you update us on what you and Sam are focused on from a product perspective with Ticketmaster

the mid-single-digit headwind at the ticketing segment this year. Could you remind us what exactly is incorporated

Spotify, the other week reported facilitating about $1 billion, and I think it was over $1 billion in ticket purchase activity

how that subcategory grew in the second half of the year and just any kind of forward indications

the competitiveness in the ticketing industry in the past, particularly in the U.S. I was wondering if you could just kind of describe how that landscape has been evolving

Any color you can provide in terms of how we should think about that as indicative of 4Q activity relative to indicative of 2026 activity

It seems like you guys are leaning more into festival naming rights. I'm wondering if you could talk a little bit about how you view that as an opportunity

if there was any update you could provide on the cash savings from one fewer put to exercise or pay for

solid improvement in AOI per fan growth meaningfully higher AOI on I think a similar fan volume but any color on kind of what helped

do you think that we've kind of reached a point where the fluctuations year-to-year in venue mix activity start to look more stable going forward

whether you expect the drivers of that performance to evolve over that time frame or whether it's really just down to executing against a similar playbook

what would you say investors should take away from the decision to ramp that so healthily in terms of the ROI you're seeing from that spend so far