 journey to the next mobile frontier. I'm going to ensure that we will have a networking break after this panel discussion. So until then, I'm going to request all of you to please be seated. Meanwhile, can we also have the team give a quick makeover to the stage? Let's have all the chairs and all the tables on the stage as well so that we can invite the panelists. And after the next networking break, we're also going to be announcing the Twitter contest winner as well. So please do keep those tweets coming using hashtags screen age. Once again, we'd like to also thank our presenting partner, Sony Live. We live to entertain. Associate partners share it. AI and big data partner, Mo Magic. Data-driven intelligence. Badge and Lanyard partner timesnownews.com. Action begins here. And with that, it's time for the action on the stage. It's time for our next panel discussion. Now, this particular panel discussion will be moderated by Mr. Sandeep Reddy, who's the country sales head media with Akamai Technologies. And of course, we're going to have our set of speakers and panelists who will join us shortly as well. But please do note that the theme, the very interesting theme that we have in store is Journey to the Next Mobile Frontier. All right, so on that note, let's get the session started as well. And I'd like to firstly invite Mr. Sandeep Reddy, country sales head media with Akamai Technologies to please come on the stage. And joining him, may I please invite Abhishek Joshi, CMO and head of business partnerships, MX Player with Times Videos, Amit Khanduja, CEO, Big Flix, Nachiket Pantvayidya, group COO and CEO with Alt-Bhalaji Teletherms, Rajiv Kumar Singh, head of sales and monetization with Sony Live, Ram Krishnan Lakshman, head of digital business with ABP Live. So I've been told that Mr. Nachiket will not be joining the panelists for this discussion as yet. So, sir, I'm going to hand over the proceedings to you then. Thank you. Hi, guys. Welcome. So as we all know, we're moving to the digital economy. Globally, there are more eyeballs watching content over the internet than over traditional broadcast. So that trend is happening in India as well. And I want to discuss where we are in that journey and is mobile our next frontier. The first question I had was for Abhishek. And I think we were just discussing this outside. What do you think is the role of digital in the overall ecosystem? Are we competing? Is it a supplemental source for new users? Where are we today? Hi, guys. See, to be very honest with you guys, mobile screen, if you ask me, honestly, it's incidental. The primary reason for any user to come on a screen is to be entertained. I mean, that's the need of the user which we are trying to fill. Either it could be cinemas or TV or mobile screen or what. Yes, mobile is the next frontier, not as either or screen, but as an and screen. And that is the biggest challenge that all of us here face as how to make this mobile screen as an and screen, which my consumers will access and consume and get engaged on even while they are in front of TV or even while they are in front of any other screen. So we effectively, I don't strongly believe that we are fighting for screen time. We are fighting for mind of, I mean, share of mind, share of time, share of engagement. That's as simple as that. Fair enough. That's a great point. We've seen that as well. With IPL, we saw that viewership on both broadcast as well as on the online viewing increased on both fronts. So definitely there's room for everybody. In terms of reaching the diaspora, I mean, we spoke about it. What do you think is, you know, how do we cater to the diaspora and how do we bring them on the mobile ecosystem? I think the difference, there has to be, and there is already a difference of how you reach the users in India or what the content they want to watch versus the content with the people who want to watch outside India. Like if you're reaching out to the Indians or Southeast Asians outside India, their requirements or their content habits or content viewing habits or content consumption habits are going to be very different than what is going to be for the Indian market. The reason being is there, as we were talking about the mind share, we're not only talking about the mind share on the screen time, but you also have a mind share of other content which is relevant to their community where they're based. So I think that's a very, very important factor. Also, when there's so much of different contents which we are talking about, like you were talking about the mobile gaming, that's another component. So what you're doing right now, when you are interacting with the user, with the content, there are multiple pieces of content and there are different times when they will react to and there's a different content which they will react to. It's going to be hard for you to be able to watch a long form movie in a stretch on a mobile device, but do people watch it? I mean, I have a 90-year-old and 11-year-old tell them to watch something on the television. They never want to watch it. They only want to watch it on a small screen because for them, that's the mechanism. So is that the, because they're watching it on a tablet or a phone, their viewing patterns are smaller components because they're trying to get that in the bits. But if you're going to watch a movie of three, three and a half hours, it is hard to be able to watch it in one go on the screen. So different patterns, different content. Different kind of content. And that brings us to an interesting point about live sports. Cricket, we spoke about prime time for digital being a different window than probably traditional television. So we want to talk us through that. Yes, so we were, the context was India versus Australia which is coming up from 21st November onwards. Their match starts at either T20 starts at 2.30 in the afternoon which is practically what we call it is a digital time band. You know, people are at our fairs. The consumption is mail driven. Hence, so it ends at 6.37. So you have entire pure digital time bands to work on it. Having said that, our non-ticket behavior also replicates TV. So just to give you, come back to you. On every day, we see a traffic pattern to it. Our peaks are between 8.30 to 10.30, actually 11, when we have crime patrol. So it's consumer behavior and what we will want to consume. That also determines that. On any day of Australia, yes, definitely. We believe our 90% of traffic would be during that period of time. Some of it will, obviously we'll go to highlights and other sections and stuff. But that's there. In terms of tests also, it starts at 9.30 or early morning. So which would mean a digital traffic to it. And that just goes to show, further emphasize the point that both can coexist and the prime times are different for. Okay, so a lot of, there are a lot of words being used like catch up content or content, which is there. My logic is something like this. If somebody has to watch Tarak Matha at 8.30 on sub TV, he will not watch Tarak Matha at 8.30 on sub TV and then come back in morning and watch again on Sony Live. He either or. So for a guy who watches a GEC content once or first time, for him it is live. That's what he's watching. So that's my thought on that. Thank you. And R.K. in the context of news, what do you think about the coexistence with the? So I think in news it's dramatically different from any other type of entertainment content that you would consume. I think one of the biggest challenges for us is that news is consumed, not just on our platform but also on platforms beyond our own sites. So basically there are two approaches. Either I make consumer come to me or I go where the consumer is. And right now the consumer consumes news in various different format. It could be on a mobile screen. It could be vertical videos. It could be, you know, on Amazon Echo. So what I also foresee is that with the new Amazon Echo, with the circular screen coming up, you might have a new concept of circular videos being produced. So for us, coming back to your first question, it's not either or because we've seen news being, you know, being consumed consistently throughout the day. And it's not just on the site that news gets broken but it gets broken all over various platform whether it's Twitter or on YouTube, et cetera. The growth has been tremendous from all fronts and we see the format constantly evolving. I think mobile is the biggest thing happening in India right now. Sure, but how do we take it to the next level? Do you think personalization for news is gonna be a big area to work on? I think that will be one of the biggest areas because very soon you might have a need for providing news to a consumer based on where he is right now. For example, what's going on around us. We've still not reached that level of content generation and creation, primarily because right now there's a lot of fake news also happening. So if some news comes up saying some incident has occurred around here, as a media publisher, we cannot publish it until we verify it. But I think from a long-term perspective, you'll see a lot of personalization happening based on where the person is located or where the person is traveling. I think that level of personalization you will see happening. And also some customization around screen layout and how you push notifications. Obviously, I think that's not the future that's already there, it's happening. Yeah, absolutely. We also, Rajiv, we spoke about user engagement and how it's increasing. As a revenue officer, you're obviously very concerned and very interested in increasing engagement times. What are some of the strategies that Sony might have employed to improve engagement times? So the best part is all of it is the second screen experience. We have seen, if I have to look at an average user's time spent on us, during second screen while KBC, it has shot up by two times. That's a big engagement on a single device kind of platform. And that, I think, we have tested in Indian Idol and currently doing in KBC. It has delivered us 4x the number which we were hoping for. That means any way aggressive number became four times and we will like to do similar experience in India versus Australia. And that, I believe, is also one of the future play for any UDT player to work on it. I think other players are also implementing that. It gives a person a very interactive way of playing a game or engaging with the product which is just not an impersonal way of, if the mobile is there, can I throw it up on TV or can I use it in some other device versus actually engaging with the product? Yeah, great point. I think that's a great avenue for extra monetization. Yes. Thank you. Amit, do you want to talk us through, I'm sure, given that your content is movie heavy on big flicks, your watchtimes have been traditionally high. How do you get that to go up further? Have you done some work around that? I mean, that's always been a big challenge, right? Because the consumption of movies on the platforms is, you know, if you look at it, it's about a, you know, one and a half movies or two movies is what people watch, the full movie length, if you look at it in a month perspective. And those numbers are very different on the global markets than they are in India. So what we are always trying to do is how can we target a genre or a content specific to a user? Because that is, it's all about customization for us. It's all about one-on-one engagement. So what you watch and what you will watch next is very important in our mix. Because the more, if you're able to surface the content, let's say if you have two, two and a half thousand movies on the platform, it's very rarely somebody will go in and search the movie very rarely. But if you make the life easier for them or if you make the life easier for them from a content where the pattern recognition or, you know, the machine learning aspect comes in is that what you watched and what you'd expected to watch, if you can bridge that gap, the consumption patterns goes up quite significantly. So when we go back to three years ago when we started to add the functionality of the, you know, similar to what you watched or, you know, where we did it not only from the movie but also based on the genre, based on the actors, based on the actresses. We saw the consumption pick up because if you're a fan of Charok Khan and, you know, we are able to surface the movies of Charok Khan right above, then, you know, your search component goes down. So I think leveraging the technology, understanding the user and ability to be able to market on a one-on-one basis is a very important factor. And I think that technology enables us to do that now. It, you know, and it's changing quite rapidly on a day-to-day basis. I mean, there is so many buzzwords which are being floating around with the machine learning and AI, you know, IoT and everything. And all of that comes into the play because as a user, you want to watch what you want to watch. You have a limited amount of time. It's very rarely that you want to sit down. Then you're going to say, okay, I'm going to go browse the five OTT I have and find something which I want to watch and then watch. Typically you have something in mind what you want to watch or similar to what you've watched in the past and engage with that. Right, so that's... I think I'd like to add to your question. Anecdotally if you see, especially in urban areas and metro cities, people spend a lot of time traveling. And if you just go about and see what people are doing, you'll find people are actually watching movies in buses and trains, long-form movies because they spend so much time traveling. And I think a lot of this content consumption is happening in an offline kind of a mode. Probably a lot of piracy. I think there is probably one area where, I mean, content providers can explore looking at offline consumption of content. Yeah, and that's one point I wanted to touch upon around security, content security and piracy. I wanted to bring it up later, but since you brought it up, what are you seeing? I mean, I know you're aware of the security threat landscape. What are some of the challenges you see in protecting content? Hey, I'm in the new space. Shelf-life is not too long. So content security isn't too much of a, I mean, it's not a top priority for us right now, but maybe for an entertainment content company it is. I'm probably- But for a big flick, it would be a big one. For us piracy is a very important component. I mean, we see so much of content getting pirated. And especially in the movie space, if the content doesn't come out quickly enough in a digital format, and I'll talk about international, right? I mean, 90% of the content is pirated. The reason being is that by the time, if you say that there are 100 movies which are released, 95 of them will not release internationally. Now you're talking about only five movies which are gonna release. All of those five movies, most of them are pretty much a blockbuster, but they're the reason they've released there. So that's what most of the people would want to watch. And there are so many holdbacks between the digital or satellite or others, the by the time that movie hits where you want to watch it on some of the platform, it's about four to six months. If you're outside, you wanna watch the movie which is in the market now, you're not gonna wait for it. And it's not easy to go to, I'll give an example in the US where I live, right? And it's not easy to just go to a theater and watch a movie. Because it requires a significant amount of planning for an Indian family to do that. Because most of our kids are typically not watching Indian content. So you have to make sure that they are old enough or doing something when you're gonna watch, right? So there are a lot of components which has to get into fact. And then the piracy becomes such an important factor for a lot of people to do it. One of the biggest factor in the US and Canada and the other places is you buy a grocery for $20, you get a movie for free. And it's very hard to compete with something which is free, right? All of us have known here, right? I mean, somebody comes in and gives free, all of us as an Indian, the first thing is okay, let me go get that. Yeah, thanks for sharing that. We spoke about expanding the audience, increasing audience engagement. What about regional? How has that featured? I know Big Flakes made an announcement a couple of years ago about going nine languages. How has that made an impact? So for us, regional is a very important component and very important push for us. Obviously, Bollywood and Hindi cinema drives the mind share of PR and audience. But we see a lot of stickiness coming in from the regional content, especially Telugu, Tamil, we're seeing a little bit of the other Punjabi and the other content as well. And we're trying to figure out how do we go relate to that specific regional content. But regional content is important because when I was talking about nine, only 10 movies releasing outside in there, that's for the Bollywood movies, right? When you go to the regional, the numbers are one or two. You're talking about one or two or 3%. How do people watch content? The only other way to watch content is through piracy. So we have to find a way to get the content in front of the people in a much better format. Otherwise, the piracy is always gonna be there because people want to watch the content. Sure, absolutely. And Abhishek, on MX Player, I know it's yet to launch, but obviously the regional portfolio is quite strong. What is the vision from the MX Player side for regional content? Okay, so before I answer you, Rajeev, nice plug-in for India-Australia. See, effectively what all of us are trying to say is it's very important for everyone to have a one-view of the customer. And it's very important to have, to understand the entire customer journey from the time he enters the app to the time he exits that. Yeah? Which, obviously, is aided by recommendation engines and all of that where you exactly know what he is looking for and what he will watch. In my view, long-form content is searched for and short-form content is not searched for. It's as simple as that. Hence, the time spent on long-form is more than, yeah. Coming back to what you asked me on regional and going granular in terms of content offerings on any platform, I think it's very important to have everything for everyone. Yeah, that is exactly why you will see a lot of pan-Indian content available on every platform across the board. It is not, it will never be a strategy that I want to be regional-focused or regionally strong offering of content. I want to be pan-India-focused. Regional is a part of it. Yeah, today, regional is a strategy, yes, but the larger content strategy is pan-India wherein I have everything for everyone. It's like a shopping mall. You come in, you shop for what you want to. If you don't find it, you leave. I don't want to give that option to my consumer. Got it. Now, my point was more about the fact that we are going deeper into tier two, tier three and rural areas where they are now beginning to access content on the mobile. And these are first-time users. Many of them wouldn't even have had access to television in the true sense. So how are we targeting these users and how are we generating revenues out of that audience? You want to talk about it from a Sony perspective? Sure. Okay, now let's put it this way. They are possibilities. Your app, the user which you're talking about will have a device capacity. That device capacity will not be more than until the RAM of more than one GB. So it will not be able to load a full version of your app, which would be a 30 MB to and not have more than one or two apps. So what you need to do is you need to come up with either something called as Android in-stap or close-based apps or have a PWA version of it, which we are working on. And those are the stuff which would give you those kind of reach. Gives you an app feeling, but lets you reach the consumer at that specific point of time of his consumption or her consumption. The second way of doing it is that you design that app in such a manner that knowing, let's say, if you are in sports and the user has shown interest in sports and that person can only download Sony Live Sports. Hypothetically. Or just a GEC. So the person is using that as an example. It's on, like I said, Android Instant Apps and then you do this ad servings to them. So the load to his phone or devices is lower, but your capacity to reach out to him or her is also available to you. So that's the key then. To develop apps or develop offerings specifically for this audience is the key to crack it. Yeah. So that would not be a full-fledged app, but a beta version or... A lighter version. Yeah, a lighter version for it, which will give you the relevant TG and audience for it. Got it. But how's the monetization from these regions? Have you done some analysis? What's the... As a revenue officer, what do you think is the potential of the scope for this? So just to give you an example, currently the revenue potential to us or the current numbers would be 80-20. 80 would be towards top 20 metros and 20% would be on the smaller markets. So let's say in this case would be a 22 rest of the 30 series. Okay. By the speed or when we are ready with our lighter version of an app or PWA, we should be able to do this far effective. And we would presume this percentage to go up by 10%. But again, remember this. Any small data increase on these kind of markets is a huge number. Right. So it need not convert back into 20, 80-20, but even 10% jump is a massive scale number. Yep, absolutely. Yeah. Thanks. See it also depends on how big you are in these markets. Because an advertiser to come and spend on you, especially when you are on A-word platform, you will have to give them an ROI and value for the bug spend. Now it's very important as Rajiv was saying to make a smaller India or a rural India strategy for your platform offering rather than taking the same offering across board. Exactly. Because then it will not make sense either for the consumer or for the advertiser. Right. And then customization absolutely essential. I think it has been done already with a lot of players internationally. It's just that we are not done it in India because like I said 80% revenue is still coming from. We are yet to exhaust metros. Yeah. But I think that it's rapidly going to change given the proliferation of low-cost devices and low-cost data plants, each telecom operator competing. It's happening, right? I mean, if you look at the penetration of smartphone devices, it's surpassed any imagination which anybody had two years ago. If you look at it, the growth which we have seen and the quality of the, you know, the quality of devices or even the network, nobody had imagined. Everybody said that, you know, the data revolution or the smartphone revolution is coming. But, you know, if you go back and compare the numbers, we are way far ahead of that, right? I mean, what geo has been able to do with the data consumption patterns for even the, you know, when you talk about the regionals versus the metros, I think they've taken to the lowest common denominator. The most of the consumption for data happens for, you know, people watching, you know, while they're driving a rickshaw. I mean, it's funny, I mean, if you go to, I mean, in our office in Pune, if I go down there, we have a big rickshaw stand in front of us, right? Most of the guys in Pune don't want to go anywhere, the rickshaw guys, they just, I feel that they just come in there and stand and go back home, right? And they're playing Ludo or watching, you know, watching a video on that for majority of the time. That's the whole thing they do. And the consumption is not only for people like us sitting here, but the consumption is to the lowest common denominator right now. And that is driving that factor. And it's not only about when we look at the metro or the regional aspect, I think we need to look at the, the region of, you know, the people of who's watching what and how are we going to monetize that user? Because the user who's going to watch it on Netflix and who's going to pay that amount of money is not going to be the user who's going to watch it for free. Or, you know, it's a different set of users, different strategies, different content, different, and you have to define who you're going after and what is your market? Yep, and you brought me to the last point I wanted to discuss around monetization and revenues, right? So you have all this accessibility to devices and data, you have all the media houses, you know, rushing in with custom content, personalizing it, packaging it for this audience. How are we doing on the monetization aspect? Probably touch upon news first, the oldest business. I mean, news has traditionally been an advertising funded product. And I think in the last couple of years, the amount of traffic that has come online, I feel the advertisers have not caught on to it as yet. I mean, the bulk of most of the advertising is still performance driven, e-commerce driven. I mean, your brand advertisers still need to start shifting their budgets online, which has not happened. Now, if you see the total television reach would be, in India, would be around 800 million and digital is already 500 million plus. And if you see a mature market like, for example, UK, 50% of advertising is digital. In the US, 40% is digital. Here, we are, I mean, way behind. But growing? It will grow. I mean, in India, changes have happened so far, I think most people have not really caught on to it as yet. And I know all of you have some subscription offerings. Any commentary on what you're saying on that, India and abroad? I'll give an example. I mean, I think, as I was talking about the different set of users. Different set of users are gonna pay differently, right? There are gonna be people who'll subscribe, who'll have a subscription pricing. There are gonna be ad supported models and there are gonna be some free models. Depends on who you, you know, if you're trying to acquire users and you put in a subscription of a thousand bucks a month, obviously you're not gonna get the users, right? It's very hard. You're gonna have a very specific strata of people who you can go after. But the definition, I think the different business models will reside for different set of players and different set of content. So there is gonna be subscription. There is gonna be ad supported and there is gonna be a free. Depends on what content, who you're targeting and where it is. And we're seeing Netflix has done a great job of trying to get to a subscription model, right? Where it got people to spend money. And they're growing, even if they look at the numbers, they grew quite significantly, even in the US, which is their top market. But that is one set. But if you compare it to what Amazon is doing, it's a bundle pricing, right? They're writing off their content piece completely by using the e-commerce group. And then their players were giving it for free because it's an add-on strategy or an ad supported strategy or whatever. So there are gonna be multiple strategies available. Depends on what is the end goal on that. Right. Do you have any views on, I know you're yet to launch and probably thinking through these aspects. No, subscription for us is still a long way to go. I mean, it's A-Word which primarily is a focus right now. I completely agree that the party for A-Word hasn't started as yet. Because for the simple fact that I don't, A-Word. For, because for a simple reason that I don't remember a single brand which build a brand only on digital. Even digital brands don't build their brands on digital. Only when they look for ROIs and CPCVs and CPMs and CPCPDs and CPIs and all of that, that is when they come to us. That is a very small pie of the total advertising budget that a brand has to spend in a year. Till the time marketers or the agencies don't wake up to the fact that we can also deliver value in terms of building brands. We are still a little away from that, from that day. For MX player, A-Word is still a little away for us. Sure. And I think Rajiv in terms of brands are seeing value. I think when the move away from YouTube, not away but definitely a heavy shift towards the Sony Live app to understand the user better, to target content better, but also to monetize better, right? You wanna talk a little bit about that? So recently, let's say last six, seven months, we have seen a shift. The shift has been very clear. We are getting brands like Google, not only for their pay, but also Apple for the phone which is worth one lakh rupees to advertise on us. Or not, I'm not a small SOVs and stuff like that. I don't have big monies to be spent. So is the case of Google Pixel also. The differences happened is that all they're looking at is the environment or the content which a user is. Where I can show my ad to. Now, obviously Sony Live is a brand safe environment. It will not be, you are getting into something which you want to watch and it has been tacked to you. It might not tangently show you some of the place where the content and the product is not right or it is not country friendly or it is something other than that. So to avoid that, people are testing more and more on platform like us. Just to give you an example, we were looking at numbers for last month. Our inventory levels are very high considering other players. The reason when I say that we will be looking at 10% revenue jump on from a rule market or up country market versus others is because we know for a fact there are certain advertisers who will give me money for a UP state. And that money would come at a certain CPM which will be far lower than what an Apple would ever give me, okay? So brands are shifting, yes. We are getting campaigns which are heavy digital. We have been talking to a lot of advertisers and brand managers who are looking at ways to shift TV money to digital. End of the day, it is all about audience, right? The same, it's not that some third person from alien country comes and watches Sony Live and Tarak Mehta. It is usually the same set of customers or users which are doing that. So great inventory fill, a lot of brands which are coming again and again. I can tell you right now we would have at least 90% of brands coming back to us on monthly basis. And that's a high number to be spoken about. Whereas if you look at other side of the play, YouTube, their inventory fill is at 15% to 16%. And the CPMs are also, I'm guessing, not... Yeah, it's now one third of what it was supposed to be to one or two years ago. There is, yes, logically, there is device prices have gone down, data charges have gone down, and it is not only for one player, everybody has crashed it, and users of mobile has increased, penetration has increased. Hence, the availability of inventory for a lot of the players have shot off through roof. We, ourselves, want to control it to a level where we are able to justify it to the brand. Just showing ad to everybody which is not even a right TG. So programmatic, you were asking a question, what happens next year? So programmatic is one of the ways where advertisers are moving. They are targeting content, so place where would I want to show an ad on India, Australia, and targeting audiences. So these are two things which we are doing. So, like I said, yes, we are seeing a far more revenue jumps and we'll see it next year also. Great, I think that's the perfect note to end this conversation, right? It's, you know, the audience size is growing. You know, our content creators are creating and curating content for the expanding audience, including regional, and we're able to monetize it better than we used to. But it takes some time. Sony Live obviously didn't get there overnight. It took you all these years to get to a position where you can command that premium. Yes, we are, to be very fair, our market rates are expensive than others. Like I said, our filter rates are expensive than us. And we are also not on a lot of platforms where other people are. Yeah, absolutely. So the mobile is definitely the next frontier. I mean, there's viewing online and then there's smart televisions, but mobile is definitely going to be the big one, especially in India, given that it's a mobile first market and a mobile only market in many cases. So thank you gentlemen for sharing your thoughts. I'll open up the question and answers for the audience. If anybody has a question or a panelist. Ladies and gentlemen, any questions from the audience? We're going to request you to please raise your hands. We'll have the mic pass on to you. Hi, my name is Tushar Gard. I work for Ronnie's crew while I was sports and media business. My question is to Rajiv. Are you guys also Raji Singh? So are you also looking at other more sort of mobile first sports like eSports as in terms of acquiring content? There is a discussion which is happening. I think a lot of people are talking about eSports. And we first want to fix the technology first for a different, did you watch Commonwealth game? We did cover eSports and we're, I think, India won a medal also or not. So we are looking at those kind of possibilities in future, which would make a real sense to it. All right, thank you. Thank you, anyone else? Okay, that's it and we'll call it a wrap. Thank you so much. Thank you gentlemen. Thank you very much. My question to please remain on the stage and I'd like to invite Mr. Rajiv Dal, Vice President at Sales with ShareIt, to please come on stage and present a token of gratitude to all of our panelists. And can we have a round of applause, ladies and gentlemen? We need to defeat that noise that's coming in from somewhere of the hall, I believe. I believe there's a very peculiar sound coming which is gonna take care of it. But can we have a louder round of applause so that it can defeat that noise, that irritating noise probably? Thank you. Maybe request our speakers to please remain on the stage. It's time for a group photograph as well. Check one, two. Thank you very much. Ladies.