David Rosenthal: belief

Transcript context

…The funny thing is that this game is not released by The Pokemon Company that Nintendo has 32% ownership in. This game is released by Niantic who has secured a license to the IP from The Pokemon Company. To your point around the stock spiking, Nintendo has to issue a press release telling investors mid-quarter, hey, you all are real excited. We do not expect this to impact our revenue meaningfully for the quarter. This was a license. What's interesting is I think the stock does drop back a little bit when they issued that press release, but not that much. People are still really excited. They're like, this is the great unlocking of value, it's happening. To really underscore this, there are a few interesting nuances here. To this day, only 3% of Nintendo's revenue is the entire basket of mobile, licensing, theme parks, and movies. They clump mobile in with all that. They don't look at games like Pokemon GO or what we'll talk about in a minute, Super Mario Run, as a Nintendo game. They look at this as, oh, we've licensed our IP for someone else to do something with. The fact that it's a game, even though that sounds like what we do as a company in our core business, oh, no, no, no, this is different. This is a license.…

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