Marc DeBevoise: Yes. I think we have small amounts of revenue today. What we’ve learned is that as we dive in with a lot of our, what I would call mid-market customers or international customers, we’re being very helpful to them, growing their businesses, but it’s a challenge to drive enough volume through that customer base to really have an impact on our revenue line, Steve. So where we’re focused is how we can support those larger customers, and we’re having some good dialogue with a few of those now. And then also selling our ad support effectively as a services business, right, how do we go in and sell our capabilities, our talent and our knowledge into those companies more like services. And we’ve started that pivot sort of as we’ve entered here in the second half. We’ll have more information on that, I would say, by the end of the year and into Q1.
Steve Frankel: Great. Thank you. I’ll jump back into the queue.
Rob Noreck: And with that, we’ll take questions from Mike Latimore, Northland Securities.
Mike Latimore: Thanks. Yes. Thanks very much. So on the – it seems like you’re a little more positive on the enterprise business. Can you just elaborate on kind of what transpired there? I mean, a lot of the focus – sales and new products has been media. So why would enterprise, you pick it up as media focus or lesser?
Marc DeBevoise: Yes. Look, I think what we did when I joined the company about 18 months ago and repositioned the strategy by the middle of last year was effectively bring the company back to a more 50-50 stance between enterprise and media in terms of our focus on both product development and go-to-market. I think what we’re seeing now early in the year, obviously, with the larger deal in Q1 and a number of other deals. We saw new business in media do very, very well, right? That was driving a lot of that new business growth. But what we’ve seen in the last two quarters, especially here in Q3 is the strength in the enterprise new business delivery. And that’s great news. That makes us feel like the end market breadth of that new business is deep.
It’s broad. It goes through both segments. And so we’re very excited about what that means for our long-term prospects. You’re still going to see, I think, media be chunkier wins for us. Obviously, there’s the potential for larger wins in that space. But we are feeling that the product suite we’ve come out with Comm Studio [ph] on top of marketing studios, a second use case, and we’re thinking about others is really going to help us hunt for new business in the enterprise as well. And the last point I’ll make which I made earlier is, it’s really a strength in Americas enterprise, and so we think there’s a real opportunity to scale that outside of the Americas over time, right? We need to transfer that knowledge, how we were able to do those types of things for customers and be able to do those on a broader scale.
Mike Latimore: And then I see, on new business bookings growth looks very strong again. I guess in a more balanced environment between new and upsell, like what would be a normal bookings mix for you guys? What would you have to see between new and upsell bookings?
Marc DeBevoise: Not committed – I’d like to see it all very growing in a big way. But what I would say is, historically, our business – and Rob, you could correct me here – has been 70%, 80% add-on business and probably 20% to 30% new business. This year, we’re seeing that probably a little bit more – it’s not perfectly even, but we’re seeing in quarters, it’d be a little bit more weighted to the new business side. And so especially that first quarter where we had a very large new business transaction. So, I think what we’re hoping is in the long run, we get back to real growth on the add-on side, which is what’s held us back. And if we can do that on top of the new business growth we’re seeing, I think you’re going to have a tremendous story for the future.
Mike Latimore: I think the last quarter, you gave a number – like a number of deals over $500,000 in the pipeline or something like that. Or a – just kind of a large deal pipeline. Any quantification or update on that?
