Sony Is Absolutely Flying Financially Right Now

They've worked hard for it, hopefully this comes back to their customers in the form of some
more unforgettable games.

With profits like that, they could pay all their workers a living wage.

Well done Sony you so deserve this not just for the PS5, but the years of amazing AAA exclusive games you have given us.
Also good on getting supply of over 10 million PS5 to customers.
You have managed to get 4 million more PS5 built than series x from a trillion dollar company competition, Microsoft.
Some here don’t realise the effort that must take, securing the chips at the moment.

The rich get richer. All we see are higher prices, depressing.

@Fenbops
Wait and buy them in a sale then or when they inevitably drop.

Totally agree @Fenbops , all that money yet we still get to pay for upgrades that are free on other systems

@Fenbops Dude you are dead wrong. Did you forget that these games need a price increase and MTs just to make it? Otherwise, the video game business would shut down.

@The_Moose I do 👍🏻

@OmegaStriver. Yeh it's really hard to survive on 20.61 billion, quick let's start a gofundme page for em

@Fenbops
Great, no need to be depressed about high prices then.

B-But Sony is broke...fanboys on the internet said so, so it must be true??? O__O

@The_Moose I mean I can still find it depressing that they’re making billions while increasing their prices. Just cause I have to wait for a sale now doesn’t mean it’s all good and nothing is wrong.

@Martsmall yeah, because obvs everyone making and releasing games on ps4/5 clearly makes 20.61 billion every year no prob.

@Keyblade-Dan you may wanna stop using internet explorer.

This can't be right, surely?

How could Jim Ryan possibly oversee their most successful Q1 of all time when I'm constantly reading comments from all the experts on here about the awful job he's doing 🤔

@Fenbops
Well yeah but they don't just sit on that profit, it also get invested back into the company to improve services, complete R&D which in turn leads to the new technology and products that we all enjoy. They get rich because they were the ones who used their own cash to invest, they took the risks with all their millions and had a lot to lose because of it.

The more things cost to make the higher the return needed = higher price for the end product.

@Intr1n5ic SMH, there is a difference in doing what’s best for the company and what’s best for its customers.

For anyone not wanting to search fiscal reports/translate yen to dollars, Sony's profit outlook is just shy of $9 billion for FY21. All the amounts in this article are revenue, which is not profit. Everything @get2sammyb said was true though. Just don't want people throwing out incorrect information because of a common mistake.

https://www.msn.com/en-us/money/other/sony-boosts-profit-outlook-on-better-movies-music-prospects/ar-AAMViGu?ocid=BingNewsSearch

@OmegaStriver You're right. One will allow your company to flourish, and in turn allow it to continue being relevant and successful in the industry. The other will pander to entitled babies who cry every time they don't get exactly what they want.

Too many conflicting reports, none of this information is aligning.

@Intr1n5ic You say, “let them continue”, acting like they have been struggling. SMH

I feel like you frequent Gamefaqs.

The way I see it, the report demonstrates the importance of Sony Interactive Entertainment having as CEO someone with a very strong understanding of the gaming and entertainment industry and its actors: game developers, manufacturers and logistics, local markets from different regions of the planet, and yes, the consumers i.e. the players.

@OmegaStriver No, I said "allow it to continue", highlighting the fact that they haven't been, and part of the reason why they haven't been is because they have someone competent at the helm who oversaw and helped deliver their best ever Q1 during a pandemic.

I feel like you try to find a negative in a positive.

@Martsmall
I think you’ll find the system you are alluding too is run by a company that has infinitely more money than Sony due to historic, and some would say current, monopolistic practices…

@Intr1n5ic It’s just like democratic governments, you inherit a lot of success and failures from previous administrations.

Well I guess that’s good for PlayStation gaming.
😅

@Intr1n5ic Short term vs. long term view. The complaints about Jim Ryan's leadership don't stem around the idea that those of us complaining think he's going to tank sales and bankrupt the company in the next 2 quarters. Rather the inverse. We feel he's making decisions that have a lot of potential of harming the long term future of the platform 5, 10, 15 years from now in exchange for boosting the short term profits in the next few quarters/years. Which is a VERY common problem with Western business leadership. All decision making is done for short term quarterly gains and kicking the problems it creates down to "the next guy" in the chair.

So short term gains are expected especially among the people who criticize him. I've always said, PS5 will do great, PS6 will be in trouble, on his current course. The decisions that helped PS5 were made during PS4. The decisions that may hurt PS6 are happening now.

That differs from how PS4 saved the unrecoverable spiral of PS3, mostly due to decisions Don Matrick and Satoru Iwata made during PS3.... If Matrick hadn't screwed up all momentum on XB, and had it not coincided with Nintendo laying their biggest egg since Virtual Boy, PS4 may have struggled mightily to get off the ground. There was nothing really special about it at the outset beyond "at least it's not Xbox and has 3rd party support unlike WiiU." It kind of won by default, then was eventually cemented with an A-list library. And it NEEDED to succeed, otherwise they were done. Their competitors basically kept them floating.

The hope is that Ryan doesn't steal defeat from the jaws of victory by sacrificing the long term future to maximize short term gains. So far, it's playing out as expected. We survived one Matrick. We don't need a second to turn Xb into an unchecked monopoly in 7 years because PS wipes itself off the board. Again. They take turns....

@Spiders I think you'll find that is representative of all governments, not just democratic. Regardless, taking over as lead of something that previously did extremely well doesn't guarantee continued success.

@NEStalgia What are the decisions he's making that you feel have a lot of potential to harm the future of PlayStation?

They'd be 449 quid better off if I could get my hands on a PS5.

@Intr1n5ic Some of them he's tried he's reversed on (shutting down the legacy stores & dev kits), some of it is the tone-deafness of what the "core" market wants that can accumulate over time on the internet (as in, doesn't hurt sales now, but can start to create its own narrative over years in the face of competition.) The, we'll say, experiments in pricing, if not corrected may over time come back to bite as the market normalizes again from the 2020 high. Chasing moneyhatted 3rd party timed exclusives instead of investing that money better into building out a more robust PlayStation Studios, and attached to that, taking the predictable "media exec" route of focusing all output onto blockbuster sequels, and peeling back from the diversity that has been PS's strength for 25 years. Some will cite the focus on PC. I happen to disagree with the critics on that, as you no doubt do as well, but there are definitely those who believe that's going to become problematic, and it's possible they're right.

Mostly, I see him trying to move Playstation into becoming an "up-market" brand, in the face of competition approaching from big tech (not so much Xbox, though them as well, but the pending onslaught from Amazon, Google, Tencent, maybe Valve, maybe Apple.) It's classic Sony to move "up-market" and try to become designer in the face of competition, and it's met with failure in almost every case. He's combining the classic Sony "go premium" strategy with the classic big media "go blockbuster, and keep repeating what worked until it doesn't" and that's a very poor combination. He's too risk averse for the entertainment industry. He backs only sure-bets, and is moving assets around to reinforce that model. It works for Hollywood. But gaming is far too competitive, with way too many upstarts and innovation for that to work for long.

@Fenbops it wasn’t until recently, that I’ve found it odd, how we celebrate these corporations making huge amounts of money. I get that it means more product, but it’s still weird. Especially when you look at the state of everything. Corporations being worshiped and treated as people has become very odd, to me.

Well deserved success. Quite simply, they make excellent products that deserve every bit of attention as Apple products.

I’m no expert on game attachment percentages but firstly amazing 10 million PS5 sold.
But the games seem to me be limping along.
Ratchet and Clank 1.1 million sold
Returnal 560 thousand sold.
With these two games being the newest PS5 only exclusives and not much else about and other games delayed I thought these game would have at least trebled those sales.
What are 10 million PS5 owners playing.
I know in the UK some will be playing PS4 FIFA and COD, waiting for the next ones to release, actually I know a few that is all they play.

@NEStalgia You make some good points. As I see it PlayStation 5 was always going to break records thanks to the brilliant job Sony did with the PS4, it’s not surprising. It’s the trendy console, the one all the cool kids HAVE to have, it’s the iPhone of the console market, it basically sells itself even with a dead head in charge.

They’re in such a position they can start taking advantage of their consumers (and they are) with price increases etc while their fans cheer their record profits. I find it bizarre.

@Fenbops
I’m no expert on game attachment percentages but firstly amazing 10 million PS5 sold.
But the games seem to me be limping along.
Ratchet and Clank 1.1 million sold
Returnal 560 thousand sold.
With these two games being the newest PS5 only exclusives and not much else about and other games delayed I thought these game would have at least trebled those sales.
What are 10 million PS5 owners playing.
I know in the UK some will be playing PS4 FIFA and COD, waiting for the next ones to release, actually I know a few that is all they play.

@NEStalgia This is all I'm going to say on the subject because ultimately I'll be entering in to a debate with someone who wants to argue opinion over fact.

Expressing fears about "potential" problems that may occur at some point in the future, and making reference to the concerns of the "core" Playstation market falling on deaf ears (whoever they are) to me is akin to fearmongering. It's your opinion on what might happen according to you.

Then there's the comment on him only backing sure bets, as if we didn't just see a relatively small studio in Housemarque get backed in the development of their first large scale production, a game that's a huge departure from their previous work. Or Ember Lab being given all the support and marketing we've seen so far with their first ever upcoming game.

It's easy to sit on the outside and point to what you think is being done wrong, but evidently much harder to acknowledge the possibility that the man and those around him know exactly what they're doing. He's been a part of PlayStation for 27 years, was the president of their European operations for 5 years, and head of global sales and marketing through the ridiculously successful second half of the PS4 generation. So it blows my mind when armchair critics think they know better than someone who's spent almost three decades in this field, who's been a part of the company since its founding and worked their way to the very top.

I'm gonna go out on a limb here and say that the man might have the experience and credentials to continue taking PlayStation in the right direction. I guess we'll see.

All because of the PlayStation Division .

@Intr1n5ic Hes awful but PlayStation established a legacy a long time ago that can thrive off its own merit .

#FireRyan

Take a lesson from Disney and keep some of those profits liquid for a rainy day.

@Residentsteven I like the AA batteries, personally. I always have an extra set of eneloops fully charged.

@Dezzy70 I have no idea what’s going on in that regard dude. Could be the vast majority are buying it for COD and Fortnite 🤣 Which I’ll never understand but it is what it is.

@Residentsteven TBH, the lack of removable batteries is a main reason I haven't bought a V2 of Xbox's Elite controller yet. I love the removable module. FWIW, XB sells a Li-Ion pack that you can install in the battery compartment for a rechargeable controller. It's just that the total kit is too expensive, IMO. They overprice the battery option. I wish DS5 had a similar removable battery though.

@Dezzy70 The sales of the PS5 exclusives seem low, but when you look at them as a percentage of total console install base, they're pretty much right in line with PlayStation Studios sales. Rift Apart is actually a little above average which makes sense as the only new headline title on the platform, and is only slightly surprising in the face of lack of selection and high prices.

Contrary to what it may feel like in the deep end of a fandom like Push Square, and the media maelstrom of critical praise, Sony games don't really sell all that amazingly. Even the huge blockbusters. As a percentage of install base they almost never crack 15%. R&C is right around 11%, slightly north of par. Returnal's pretty miserable, but that's not even slightly surprising as a very niche genre, very "small" game they tried to hype and price as a massive AAA blockbuster. I'm happy to see the market reacted responsibly to that and hopefully it means pricing sanity has a hope of restoration.

Few here would want to admit it but Playstations are boxes to play FIFA/CoD/GTA/Fortnite on first and foremost. That's most of the install base right there. It's the default piece of plastic people buy to play those perennial (some might say casual) titles. The fans that buy Playstations for the exclusives are a much smaller niche than Playstation's actual target market. I'm sure that's why they're expanding to PC so aggressively to make some return on gamers that are more actively engaged in "core" titles than their own consoles largely recreational installed market seems to offer them. That's why I disagree with those that rank that with Jim's worst moves. They're spending Ubisoft money on games, but don't have a Ubisoft size market to sell to on their own platform, or a deep subscription pool like MS to generate the return on.

@Intr1n5ic It's a fan site. Sitting on the outside and making opinion-based observations is all we can do, since we're not sitting in the boardroom looking at their actual market research data.

But it always pays to remember it's the consumer, the market, that determines success or failure in the market, not the executives, so we do have a keen window into understanding what directions things may go from our own experience and history as consumers in this industry, and ultimately the drivers of what constitutes failure and success. There's a lot of red flags on a lot of moves he's made, that easily could become long term problems going by market reactions in this industry over decades. Ironically red flags that Sony has often come out on top because their competitors were the ones raising those flags before. Playstation was never up-market. Playstation always came out on top by going down-market. They were the aggressive value leader for decades and they got the trophy (pun intended) as a result. Now, with Jim, they're comfortable as leader and deciding they don't need to play as value leader, they can become prestige. But they have a lot of fierce competition around them that they seem to be willing to ignore, and they wouldn't be the first, or the hundredth company to see themselves as premium and allow competitors to erode the ground beneath them by attrition with a better value proposition, exactly as they themselves did in years past.

It doesn't mean I think PS will cease to exist due the damages, but it's going to be bad for all gamers if they damage themselves, make MS too powerful, give Tencent an opening to start dominating market, etc. everyone loses.

Maybe he intends a Wii-like shift to move PS out of the market it's always been in (us) and move it to a new mass market. That's a scenario in which his version of PS could be fiscally successful, while also ending the interest in the brand many of us had and sending us to competitors. I could see that as another possibility.

@Fenbops I went from watching Apple as the laughing stock and punchline of any tech joke to the Black Turtleneck. This doesn't even seem bizarre anymore...

@NEStalgia "It's a fan site. Sitting on the outside and making opinion-based observations is all we can do, since we're not sitting in the boardroom looking at their actual market research data."

Which is exactly why I don't pay much attention to what a vocal minority of fans think they should be doing in the market.

"Playstation was never up-market. Playstation always came out on top by going down-market. They were the aggressive value leader for decades and they got the trophy (pun intended) as a result."

Remind me, what happened with the launch of the PS3, or is that not being included in the aggressive value leader conversation?

And with regard to Microsoft,Tencent and any other behemoth company that can print disposable income from other avenues, nothing Sony does is going to prevent them trying to get a foothold in such a lucrative market. As they have all previously demonstrated in their main area of expertise, they will stop at nothing in their pursuit to decimate their competition.

Not surprising. They created a product people want to own.

PlayStation as a gaming brand now represents a "sure bet" that It will get top tier Publisher support from Day 1. And you keep getting it for years to come. I always done the same rule... first hardware each Gen is a PS (you build from there)

And now that PS4 owners can carry over their libraries - PlayStation will be as "Sticky" as the iPhone.

It will sell itself.

@NEStalgia
Thanks for reply and seems all about right to me.
There AAA seem to sell well but attachment rate wise they don’t.
The initial sale say of last of us 2 was high but then drops off after the core PlayStation fans buy the game. I mean I bought it and played it.
I never play fifa, used to like COD years ago for the campaign and never played fortnight.
But I understand now about core AAA titles and sales.
I think even that new Sony boss mentioned that about last of us 2 in some article.

I could anyone be supporting Sony if they are censoring Japanese games since 2018?

@Residentsteven Haha, I'm the exact opposite, I breathed a sigh of relief when I saw they were still using the batteries and dreaded they would change it. If they didn't offer the battery packs I might mind it, but I use eneloops in secondary controllers and put the rechargable battery in my main one. If I forget to charge it, I can just throw enrloops in and play instead of with PS and Switch where I have to run wired and hold my controller off to the side. Plus I can keep my old battery and just transfer it to a new controller. I've used the same battery on my X1, Elite and now XSX controller! With some eneloop time between. I'm teetering on buying an elite V2 but just hate the fixed battery. I have a box of DS3s that just won't charge.... If they were removable they'd be up and running!

@nessisonett do you have any evidence that they don't? At least here in Japan, Sony pay above the market average and offer very good benefits.

@Intr1n5ic Much as I like Xbox, last I checked they hadn't moved 10M xsx yet. They can't buy market dominance while playstation is the default household name. But it's their game to lose, and shedding the value lead is a great start in losing that in the long term.

And PS3 is kind of my whole point. Nintendo went expensive console, expensive cartridges, Sony went cheap console, cheap CDs. Sony wins. Sega went expensive console Nintendo did Nintendo, Sony goes cheap, Sony wins again. Nintendo does $199, Microsoft does $50 games, Sony does $699 and $60 bd.... Sony loses. Badly. (Until matrick screwed up, and PS3 caught up on the super slim when it wasn't really making money.)

PS5 it's uniquely succeeding because of ps4s momentum with lack of competition and still price matching the competition in hardware and... Games... We'll we. But if they continue the upcharge game that could change next gen. Today PS is the default. People that don't know anything about consoles know to buy playstation. If the conversation changes and that market starts seeing better deals or questioning value, that becomes a problem.

I mean, we could always trust that the business leaders in the big chair know that they're doing. But if we did that we'd have $500 vcrs with a mandatory spy cam, used game fees, and no exclusive games.....

@NEStalgia Much as I like Xbox, last I checked they hadn't moved 10M xsx yet.

They have not built 10M, they been building an unspecified number of XSX racks that no one counts, but are likely enough to satisfy the needs of every GamePass Ultimate subscriber.

Xbox won’t win or lose or whatever you want to say based on consoles sold alone, because that’s not the metric they are shooting for.

Congrats for sony, as a playstation owners that have hundreds of digital ps4 games, playstation 5 is the default choice for my console gaming needs, can't wait to play more sony (single player) 1st party games 😃

@Tharsman I'm not sure how much of the market can actually use the cloud racks, really. I'm using it and loving it as my "big screen switch" but I'm not sure how many users streaming is reliable for quite yet. But yeah, people do forget that the cloud servers count towards install base with subscriber count for sure. It'll still be a machine to play Starfield on, even if it's an iPad.

My argument wasnt about xb "losing", just about market share being Sony's to lose. Which it is. They're the default in public thought currently.

Without Sony gaming would be BAD. So many microtransfer free GOTY single player games and memorable moments. I mostly only play sony exlusives becouse the standars are much higher you can find in any other platform. Sony studios are goty factories. What would we play without them. Well i played re village and metro exodus since ps5 launch and nhl21 but every other game is ps exlusive. If i had pc/xbox i dunno what i would do. Probably only play wow

@NEStalgia Great analyses mate! I don't think anyone is arguing with you because they think you're wrong, but because they don't want you to be right.

@NEStalgia that's a fairly misleading argument you're making. To say the PlayStation has been positioned as cheap is disingenous and an affront to the world class marketing that took place to secure a brand new console in the hearts and minds of gamers. Yes, it undercut the Saturn but not to the extent you would call it cheap. Was it strong value proposition with a rudimentary CD player inclusive of the price? I'd say yes but it wasn't price that earned it's victory in the 32 but era as the N64 launched at the same (by then, reduced) price point and the price difference between CDs and Cartridges was only keenly felt on the manufacturing side. If you want to argue value I know many consumers favored the life time guarantee of the system and cartridge that Nintendo provided versus the seemingly miserly 12 month warranty given by Sony. I would say value rather than price was more critical to the PS2's success with many making use of the included DVD player but again this shortchanges the subconscious appeal and underlying cool of the marketing and design elements.

And can put to rest this nonsense narrative that the PS3 wasn't successful. It's the 8th selling game system of all time and outsold it's main rival which is deemed a success (and this is taking into consideration handhelds and families of handhelds at that).

@hi_drnick You know you're on a fan-site when making the argument that the price and value leader became the market leader as a result of being the price and value leader receives a counter-argument that isn't fair to the marketing campaign....

Especially in the home entertainment market, the price and/or value leader will naturally lead the mass market. There's almost no exception to that rule with the very unusual exception of Apple. However, in addition to marketing/designer brand creation, they had the distinction of providing a computer interface that people that don't understand computer interfaces could understand, and no other company really offered that, so they had a relative monopoly position in their market niche. A "blue ocean" if you will. Otherwise, "prestige" brands never lead in the home entertainment space. Sony made the same mistake with their TVs. The value leaders stomped them.

Yes, you're making the point that Sony offered value, and nobody is disputing that. That's absolutely a considerable part of their success. Value, price, it goes together. They provided more for less. Of course they won! But that's not at all contrary to the points I've made, in fact it's agreement with them, and presents the same problem when compared to Ryan's "premium/prestige brand" strategy which positions PS as higher cost, and lower value vs competitors and relies on brand-appeal/aspirational marketing as it's main sales point. A position which has a history of being unsuccessful in the home entertainment and electronics space. "Cool marketing and design elements" have an infinitesimal history of taking leading positions in that space, and usually when it does, it's coupled with being a lower cost item than competitors (such as Wii.)

Finally, the narrative of PS3 that needs to be put to rest is the one where it was somehow a success. Nobody except die-hard fans manage to concoct a success story out of that product. In raw unit sales of hardware units, it eventually "outsold" it's rival on its forth, most budget priced hardware iteration that arrived as the generation was exiting, and, at that, mostly did so via secondary markets, and was severely behind in the largest market (PS3 was behind X360 in the US by a far larger amount than X1 was behind PS4.) Being so behind in sales until so late in the generation, and so behind in sales in the major markets for so long meant it missed out on its most profitable time period and the royalties of significant 3rd party software, the lifeblood of any platform. The lost potential sales is phenomenal, and while Sony does like to use it's total unit sales as a positive figure (who's going to promote losses as a sales point?), it's the internet fandom that uses the raw lifetime unit sales as a trophy of victory. Financially the platform was destructive enough that both Shahid Ahmad and Shu Yoshida have confirmed that following PS3, if PS4 hadn't been a success, they might have closed Playstation down. (Xb was in the same position after X1, and Nin was in the same position after WiiU.)

PS3 is a lesson for what not to do. It was a great console, and in a lot of ways I love it more than PS4 and PS5 still. But from a business direction it was a nightmare and a disaster that needs to remain the model of falling from grace, alongside the even worse WiiU. There's no success story there beyond how many pieces of plastic you can sell in underserved markets at budget prices when the tech toy is already obsolete and replaced.

@NEStalgia Think you make some good points but maybe you are reading into the 'prestige/premium' thing a bit too much? Honestly looking at PS5 (and this first year) - they are in a very different place from the PS3 era (would also say PS4 didn't just win by default: they had the strongest system and great gaming content over the generation - especially taking risks on new IP: I mean Bloodborne didn't sell that well in comparison to God of War or Last of Us etc). Wouldn't say they are as tone deaf and seem to be more aware of what it happening around them these days (even if they make odd mis-step).

PS5 being launched at £450 and the digital edition at £360 shows that they are thinking about competition (the demand for the PS5 shows they could have priced these systems much higher whereas the digital edition is recognition of the importance of cheaper/entry level system). A strong first year gaming line-up (which is much better so far then Microsoft - in fact would ague this is Sony's strongest gaming line-up in years in terms of release windows). Even the PS Plus collection (and improvements to PS Now) shows they are watching what is happening with gamepass a little (and I imagine in future they'll have a stronger offering but right now: they don't need to yet. It is actually more of a risk in a sense especially considering last quarter they brought record revenues - also remember gamepass does not make Microsoft the money yet and Sony don't have the same resources).

Even then: they are not exactly resting on laurels - launching games on PC shows awareness regarding establishing new revenue streams, as does their emergent focus on mobile gaming. Establishing in-roads into China (and other new markets) etc. But most of all: look at the gaming content and its variety - Demon Souls, Returnal (for your hardcore audience); Astro, Ratchet, Abe and Sackboy (for the family audience) and then Spider-man, HFW and Deathloop (big content that brings in your average PS player). Its not just the 'prestige/premium' thing - they work hard at bringing in all sorts of players (including Fallguys, Fortnite, Fifa, CoW gamers). Thats what Sony are very good at.

Don't get me wrong though: the 'prestige/premium' thing is there a little - £70 games etc; bespoke gaming like VR and of course, the focus on exclusive gaming content. But this actually could work out extremely well for the Playstation 5 (and 6) in the end. Another way of re-framing 'prestige gaming' is to call it 'risk taking' - something which a lot of gamers applaud Sony for (could you imagine last gen without Bloodborne?). And good games create lifelong fans - and it looks that is why the PS5 is doing so well. Bluntly: people like sequels/franchises and buying a Playstation is seal of quality for many gamers - you know good stuff will come. It would be more of a problem if people were sick of Horizon, God of War, LoU etc - but Sony were quite smart in the PS4 era to either shelve some games for a little while (GT) reinvent some of the older series (GoW) and takes risks in establishing newer ones (Spiderman; HZD; GoT; Bloodborne). Never mind all the third-party deals (FF7 remake, etc). It's an evident strength for them, more than anything. Yet, I imagine they are aware just how important casual gaming audiences are too and will act accordingly to get them in - as you say: that is what the brand is built on right back to the 90's.

@outsider83 It’s about as odd as rooting for a sports team. Makes about as much sense, and is about as fun.

@ViolentEntity My statement was sarcasm. I agree with you.