Thank you, Mr. Chair.
Thank you all for being here. It's been an extremely interesting discussion, one that's really close to home for me.
I think it's important to underline the long process it takes to get a song on the radio. It's a process that Mr. McCarty knows very well, because, as you say, your function is really R and D. That's a long process. You have to invest a lot of time and a lot of money into a lot of songwriters who don't necessarily write that song that ends up on Mr. Gray's radio station. It takes a lot of work. It's a lot of investment and it's a lot of risk, right?