David Karnovsky
JPMorgan Chase & Co, Research Division

Okay. We'll get started. I'm happy to have back at the conference this year, Warner Music Group. On my left is Armin Zerza, CFO and COO. Armin, thanks so much for being here.

Armin Zerza
Executive VP & CFO

Thank you. Thanks for having me.

David Karnovsky
JPMorgan Chase & Co, Research Division

Great. So you've been at Warner Music for almost exactly a year now, initially as CFO, on top of which you've now added COO to your responsibilities. So how has your day-to-day focus changed since you've arrived? And how do you expect it to continue to evolve from here as you take on this broader operational mandate?

Armin Zerza
Executive VP & CFO

Yes, David, in fact, I took on most of the responsibilities that I have today very early in my job. So my focus hasn't really changed. What we are focused on and what I'm focused on as a team is ensuring that we develop and execute against plans that can deliver value to all of our key stakeholders, so our fans, our artists and songwriters, our partners and of course, us and our shareholders. And as you know, I'm personally very focused on ensuring that within that context, we deliver against our growth model, which is high single-digit or higher revenue growth, double-digit profit and EPS growth, and then stronger cash conversion.

And to do that, I've been personally engaged in a few key initiatives for the company. The first one is making