Re-releasing an animated film roughly every seven years lets a studio capture each new generation of children as they reach movie-going age, without oversaturating and diluting the IP.

141:36already done. This is an enormous boost for the company. And Ben, to your point about the 7-year gap since the initial release, it turns out conveniently that 7 years is just about the right amount of time for a new generation of children to come along and reach an age uh where they would be interested in consuming Snow White that haven't seen it before and they discover it for the first time

142:04and yet it's infrequent enough that it doesn't dilute the IP. So Walt's got an amazing quote on this actually from the second re-release in 1951 of Snow White. In the 8 years since then, our first re-release, our potential audience has been increased by 25 million children who either were not born or were too young to attend a motion picture theater in 1944. You're an adult much longer

142:28than you're a kid. >> It's so amazing. And they totally stumble into the seven-year thing. Like it's not like they intended when they made Snow White to say, "Okay, we're going to put it in the vault and then seven years from now we're going to take it out." It just happened that seven years later they had a big cash crunch. They needed some easy profits and they

142:44put Snow White back in theaters. And 7 years, you know, give or take a couple years basically becomes the core Disney IP cadence to this very day. And Disney could uniquely do it versus other studios because their IP was more timeless. It's animated and it's based on these timeless sort of lessons and these fairy tales of old. Like there there are these simple but resonant stories and it

143:13carries through right to today. What is the cadence between Disney's Frozen movies today? >> Frozen 1 comes out 2013. >> Frozen 2 comes out 2019. >> Frozen 3 slated for release next year 2027. six to eight years like clockwork. >> It's interesting they've applied it to sequels now, too. >> Yep. >> All right. So, now we've got four components to the flywheel business. Your original three, genuinely