Good afternoon, and welcome to the Electronic Arts 2017 Annual Meeting of Stockholders. My name is Chris Evenden, and I am EA's Vice President of Investor Relations. First, I'd like to go over the agenda for today. We'll start with the official business of the meeting, then Blake Jorgensen, our CFO, will give a short presentation, followed by a Q&A session. During the Q&A session, we ask that you come up to the microphones at the front here and at the front of the room to ask your questions. During the course of this meeting, officers and directors of the company may make forward-looking statements regarding future events or the future financial performance of the company. We caution you that actual events or results may differ materially.
We refer you to the company's most recently filed Form 10-K for a discussion of risk factors that could cause our actual results to differ materially from those discussed today. Now I'd like to turn the meeting over to Andrew Wilson.
Thanks, Chris. Good afternoon, and welcome to the Electronic Arts 2017 Annual Meeting of Stockholders. Before turning to the formal items of business, I would like to introduce the members of our board of directors, executive officers, and a few others who are here today. Would you please stand up when I call your name? In addition to me, the members of the board of directors with us today are Larry Probst, our chairman; Luis Ubiñas, chairman of the Nominating and Governance Committee and our lead director; Jay Hoag, chairman of the Compensation Committee; Len Coleman, Vivek Paul, Talbott Roche, and Denise Warren. Each of our current directors has been nominated for and has consented to serve for a one-year term. Their biographies can be found beginning on page 11 of your proxy statement.
The members of our executive staff joining us today are Blake Jorgensen, our chief financial officer; Patrick Söderlund, executive vice president and head of EA Worldwide Studios; Laura Miele, executive vice president, head of Global Publishing; Ken Moss, our chief technology officer; Chris Bruzzo, our chief marketing officer; Joel Linzner, executive vice president, head of Worldwide Business Affairs; Mala Singh, chief people officer; Ken Barker, chief accounting officer, and Jake Schatz, general counsel and corporate secretary. I would also like to introduce Lisa Monroe and Gary Falzon from KPMG, the company's independent auditors. They'll be available during the Q&A session if you have any questions. Jake Schatz, who has been appointed secretary of this meeting, will now conduct the formal business portion of the meeting.
Thanks, Andrew. If you have not already voted by proxy and you meet the requirements to vote at this meeting, please register now with Andrew Wilcox from Broadridge Financial Solutions, who has been appointed as inspector of elections. Mr. Wilcox is sitting at the proxy table. He will hand you a ballot to vote on the matters to be considered at the meeting. A list of EA stockholders as of the record date, June 9th, 2017, has been available at the company's headquarters for the past 10 days and is available for examination by any stockholder present today or by any proxy holder representing a stockholder. A copy of the notice of this meeting and a declaration of the mailing to each stockholder of record as of the record date also is available for inspection.
I am advised by the inspector of elections that a total of 281,058,263, or over 90% of the outstanding shares eligible to vote, are present in person or by proxy. A quorum is present, the meeting is authorized to transact business. It is 2:05 P.M., the polls are now open. Proposal 1 is the election of the members of the board for a term of one year. The board has nominated the following persons and recommends a vote for each nominee: Leonard Coleman, Jay Hoag, Jeffrey Huber, Vivek Paul, Lawrence Probst, Talbott Roche, Richard Simonson, Luis Ubiñas, Denise Warren, Andrew Wilson. Proposal 2 is an advisory vote on the compensation of the company's named executive officers. Proposal 3 is an advisory vote on the frequency of EA's say-on-pay advisory vote.
Proposal 4 is the ratification of the appointment of KPMG as the company's independent public registered accounting firm for FY 2018. The board of directors recommends a vote for each of proposals 2 and 4. The board has no recommendation for proposal 3. If you have already sent in a proxy, you do not need to cast a ballot unless you wish to change your vote. The proxy holders will vote your shares as indicated on your proxy. If anyone has requested to vote by ballot now, please mark your ballots and give them to the inspector of elections. It is now 2:07 P.M. The polls for voting are now closed, no further proxies or ballots will be accepted. I have been advised by the inspector of elections that over 90% of the shares outstanding were voted by proxy and counted prior to the meeting.
A majority of the votes cast, either in person or by proxy, has been voted for each of the 10 nominees for director and for proposals 2 and 4. A majority of the votes has been cast in favor of holding EA's say-on-pay advisory vote on an annual basis. This now concludes the formal business portion of this meeting. I would like to thank the stockholders who attended the meeting, as well as those who submitted their proxies. We're not present in person. I declare the 2017 Annual Meeting of Shareholders adjourned. We now will move to a short presentation by Blake Jorgensen, our CFO, to be followed by Q&A portion. Thank you.
What you just got to see is a brief snippet of the great games that we have coming in the year that we are just starting three months ago. This month, we'll see "Madden" followed by "FIFA" and a whole set of amazing games, including "Star Wars Battlefront." This is the next year in what has been an incredible set of years for Electronic Arts. If you take a quick look, you can see our GAAP net revenue on the far side in purple and our net sales, which is essentially the management revenue that we have for the company, what we recognize immediately. A couple of things come out. One is we've had a consistent pattern of net sales growth during the last five years, and we've had a consistent ability to generate more and more digital revenue, which is much more profitable for us over time.
That's a collection of full games sold digitally as well as a collection of extra content and live services, which has become the key to our business strategy going forward. As you can see, what that's done is helped generate substantial improvements of cash flow for the company. If you were to go back one or two years from FY 2014, you would've seen cash flows that were barely over $100 million. This is a dramatically different business than it used to be and one that has huge potential for further digital growth, further revenue growth as a whole, and further cash flow growth for the business. This year, we have an incredible slate to follow up what was one of the best years we had last year. We've got "Star Wars Battlefront II" coming. The second in a collection of "Star Wars Battlefront" games.
This one three times bigger than the last, with a single-player mode in the game, space battles, everything people have asked for. We've got the best "Madden" I think we've ever made, and possibly the best "FIFA" we've ever made, even though last year was the best "FIFA" we've ever made. It gets better every year. The "Madden" this year will have a single-player mode in it, a story mode, which you'll be able to play a person coming up through the football season and maturing into a professional football player. Very exciting for "Madden" the first time. In addition, we've got "NHL," which looks fabulous. Our NBA game, which even includes the Women's NBA. Our "The Sims Mobile" game. First time our Sims powerful game will be very powerful on mobile. "UFC 3," this gentleman's favorite game over here, coming late in the year.
You're going to be pretty excited. It's an amazing year to come. Oh, "Need for Speed." I forgot. You saw some of the "Need for Speed" there, a fabulous "Need for Speed." We're very excited. Almost all of these games have a live service component to them, which continue to grow that digital revenue and continue to fuel the profitability of the company. That's EA to come. We'll show you a little snippet at the end of "Star Wars," which should get you pretty excited. I would like to open it up to any Q&A that people have. No questions? Everyone's dying to see "Star Wars," right? With that, I thank everyone.
Shareholders, I thank that you attended here, and if you didn't get your game when you came in the door, make sure you get it on the way out, and we look forward to seeing you next year.