Characters, setting or plot?

Which matters most to you A) as a writer, and B) as a reader? Make your case based solely on what you prefer—how you consume and how you create stories.

I’ll go first. I personally prize setting over all else, since for me as a Fantasy writer that means worldbuilding. That’s what gets me out of bed at 2:40 in the morning. What draws me to books in the first place, and also what I consider first when thinking up a new story. But as a reader, I think it’s a toss-up between setting and plot, as I do sometimes read a book solely for the research and worldbuilding but a compelling plot is the most important aspect (in my mind) that you have to get right.

(That said, I do have a couple stories in the works that are focused around characters, in that I have yet to nail down the setting as well as the character arcs.)

But that’s just my take—what’s yours?