Today, Xbox CEO Asha Sharma addressed all of Xbox in an internal town hall, the transcript of which was shared to Windows Central and verified by trusted sources.

Xbox has been undergoing something of a reset this year, with divestitures, layoffs, and structural changes. Xbox Game Pass removed Call of Duty and picked up a big price cut, Xbox also returned to exclusive games and content, and began investing in marketing and features for its Xbox Series X|S consoles again for the first time in years.

"Why do we exist?" Sharma said, "We exist to be where the world plays, we will know when we have a billion daily active people, and we have a right to win because we're now focused on our fans and franchises."

Sharma noted that Xbox was declining in hours spent, players, and revenue at the start of the year. She now says Xbox has stabilized in hours spent, and she's now said after year-over-year declines, Xbox has now returned to growth. She reiterated that the previous Xbox Game Pass strategy sent Xbox into "freefall" declines on the balance sheet, likely referring to the damage at both ends to Call of Duty and Xbox Game Pass.

" Asha Sharma also called out Gears of War: E-Day , Minecraft Dungeons 2, and World of Warcraft Forever for having "strong" starts, and noted that Xbox has seen a 30% increase in positive brand sentiment over the past year.

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