So, in a sense, it’s getting back to where we were before as we become more operationally focused and efficient within the market structure I have already described. Secondly, we have already got some of our key states at or above that level. So, we know it’s doable in today’s environment. And thirdly, we believe we have got the best product at the best price that’s highly attractive to consumers. And so we are seeing good early uptake on the cohorts of fiber builds that Scott shared with you and perhaps Scott, we can talk about that in a second. The majority of our customers are still coming from cable as one of the sources of growth for us versus movers or copper conversions. And on the impact of wireless or fixed wireless access, I mean, yes, as we said before, it’s a feature of the market now.
We think it is economically self-limiting. We think it is a very different proposition to full symmetrical high-speed fiber broadband. And if you think about it for an average household with multiple 4K TVs, gaming stations, 5, 10, 15 cellular devices and so on and so on, if fiber is available, you will take fiber. So, we think FWA is a feature of the market, but it serves very different segments, tends to serve, more itinerant groups, building sites, construction sites, those sorts of things, and it has its purpose there. And therefore, it will nibble around the edges of our copper base. But I think when fiber rolls into town, people will choose fiber. Scott, do you want to pick up on the other bits of that?
Scott Beasley: Sure, Michael, this is Scott. On your question around fiber and copper EBITDA, I would say, we are continuing the same trend of fiber EBITDA continues growing quarter-after-quarter and copper EBITDA has declined quarter-over-quarter for the last several years. This was a step-up because we stepped up the overall performance of the company. So, we had a $50 million sequential step-up on fiber EBITDA. Most of that was revenue driven. We had really strong consumer fiber revenue growth finally, business and wholesale fiber revenue growth, which was the first time in several years. So, most of that was revenue driven. But then we are also ahead of plan on our cost reduction efforts. And so as fiber becomes an increasing part of our base, fiber benefits from those cost reductions, whether it’s headcount, footprint rationalization, better efficiency in our workforce. So, all of those things drove the $50 million step-up in fiber EBITDA over the quarter.
Spencer Kurn: Thanks Michael.
Michael Rollins: Thank you.
Spencer Kurn: Operator, we will take our next question please.
Operator: Certainly, our next question is from Jonathan Chaplin of New Street. Jonathan, please go ahead.
Jonathan Chaplin: Great. Thanks for taking the question, guys. The 10 million initial build target, are you still expecting to hit that in 2025? And if so, sort of requires an acceleration in €˜24, €˜25, can you talk about what will change in terms of the constraints that are limiting the pace of deployment this year and will allow you to go faster next year and the year after? And then sort of on the same theme, but drawing back a little bit, I see a little bit of attention in some of the comments where you talk about this phenomenal fiber deployment machine that you built at tend of all the industry. And indeed, it is with phenomenal opportunities beyond the 10 million in bid markets at the edge of your footprint. But at the same time, the pace of the deployment in €˜23 is going to be slower than it was in the fourth quarter of €˜24 to help sort of tie those elements together a little bit for us, if you can? Thank you.
