The Next Wave of Disruption in Entertainment and Media

And I have a very different take on AI than most of Hollywood.

To me, it's not a visceral threat.

It's not the end of anything.

It's another tool in the palette.

The same way animation is another tool in the palette to make movies.

Some movies can't be made live action and have been made as animation or other reasons to make animation.

I think AI is going to do the same thing.

It's going to be an option or a tool in the palette.

We've already seen movies that are filled with CGI.

Is there a big difference between CGI and animation? I don't think you're going to see all actors replaced.

You're going to see an occasional all-AI movie, perhaps for something that can't be filmed.

Producers, of course, love the thought of AI, because you take Tilly Norwood, the actress who's been promoted, and Tilly, of course, you put her in your film, assuming they can make her act.

And there's no reason they shouldn't be able to.

And they can make her speak in any language.

They don't have to dub or use subtitles.

But Tilly doesn't need a big dressing room.

She doesn't need any dressing room.

She's always on time.

She never gets sick.

She doesn't get temperamental.

And she could even promote that film into every household in America or Europe with one-on-one conversations.

So there is a role for this, but it's not going to destroy Hollywood.

And we've seen in 2026, you make good movies and people can't stay away.

And it looks like we're on track to beat the record of 2019 with $9 billion films.

We may not have nine, but we may have bigger