And that’s an area we’re very focused on. We’re actually at the forefront of enabling show-level transparency for brands, so they can trust where their buys are being activated. We already have several initiatives in motion that are already providing this level of transparency that I’m describing between major U.S. broadcasters and TV OEMs. So that’s where we’re very focused on right now is the show level transparency and also with the direct partnerships with the OEMs and the broadcasters.
Mark Kelley: Okay. And anything just on like the difference between like a PMP deal and more biddable programmatic inventory in CTV?
Lisa Utzschneider: Yes. We’re leaning in more to the biddable programmatic area.
Operator: One moment for questions. Our next question comes from Mark Zgut with The Benchmark Company.
Mark Zgut: Tania, I was hoping maybe to ask an earlier question a little differently about your growth in optimization versus measurement. If you look at your optimization segment, and I know you’ve guided to doubling growth in 2Q, but that still implies a deceleration from 1Q to 2Q, at least on a 2-year stack. So I guess, the question is, if you think about your guidance and the mix of measurement in that guidance, what might that be? And it looks to me like you might need to see measurement mix expand from close to 39%, 40% to 50%, perhaps on your guidance, just if we follow the same trend line for optimization, unless you’re expecting a reacceleration of optimization in the second half, if you could maybe provide some color there would be helpful.
Tania Secor: Sure. As you look at our full year guidance at 13% at the midpoint of the range, growth in measurement fueled by social is expected to be higher than the midpoint and optimization growth rate is expected to be slightly lower than the midpoint, although in the double digits.
Mark Zgut: Okay. Great. And then just one last one on measurement. Is there any lumpiness that we should expect in the next three quarters? Or is that — should that be pretty linear in terms of sequential strength in that segment?
Tania Secor: So our measurement growth throughout the year, I would think about it as really primarily driven by social TMQ. In terms of lumpiness, we don’t expect any lumpiness, but we do anticipate, given the trends we’re seeing an acceleration of our measurement growth rate as we move through the year.
Operator: One moment for questions. Next question comes from Mauricio Junos with Raymond James.
Mauricio Junos: Thank you. Lisa, yes, I just wanted to go back to the expanded opportunity on Meta. You have obviously talked about it on the call. But I’m wondering if you could offer some context on data reception and rate of adoption that you’re seeing this early between those social customers that already advertise in Meta and now are expanding to adopt TMQ in the platform and what perhaps is the largest opportunity for you, which is those — your social customers that do not advertise in Meta but might start doing so under the TMQ umbrella. So if you could please talk about sort of interest and adoption you’re seeing by this cohort? And then I have a follow-up.
Lisa Utzschneider: Yes, sure. Happy to take that. So I’ve shared all the stats in terms of Meta, the volume, the growth we’re seeing in social. We’ve launched TMQ on Meta in early February, February 5, and we are seeing tremendous adoption. The one stat I can share is over 100 advertisers have adopted TMQ on Meta since launch and this is a combination of new logos and existing advertisers. And we’re thrilled with Meta in terms of as a partner, the fact we’re seeing that adoption rate, the fact that we continue to roll out new languages, more languages, more margin which is really important for the Fortune 500 global marketers. And in addition to that, also launching misinformation in April was also meaningful for the advertisers, especially the ones who are advertised — plan to advertise during the U.S. elections.
Mark Zgut: Okay. And then on CTV, obviously, a lot of excitement about the prospects of CTV, it’s a long-term driver of digital spending. So we’d be understanding that most of the tailwind is initially expected to come from dollars shifting from linear TV, which will largely be incremental to you. But just wanted to ask you about the potential impact if advertisers continue to emphasize the format budget within digital, it’s time shifting from other video formats into CTV which has a high CPM, but relatively lower volume. So if you could think about this dynamic and perhaps talk about the stage taking to capitalizing this trend, including any potential monetization strategy that would allow you to benefit from the higher CPMs?
Lisa Utzschneider: Yes. Happy to take that. In terms of the trends that we’re seeing, there are a few. So with CTV in particular, typically, those budgets are moved from linear traditional TV into CTV, whether it’s premium CTV content like what is running on Netflix, we have a measurement partnership with Netflix or moving over into programmatic CTV. So that’s how we view CTV and it’s roughly, what, $25 billion, $26 billion marketplace today, double-digit growth. Lots of runway in CTV early days, but that is a new revenue stream on CTV. And then the other area to call out in terms of when you think about measurement and social, the growth right now as an industry is short-form video. Short-form video, you hear about it in Meta’s earnings calls, in YouTube with Meta reels, YouTube shorts, short-form video running on TikTok.
The usage is through the roof in terms of users viewing, creating, sharing short-form video within the live feeds of those platforms. And as I’d like to say, the brands go where the users are, and that’s why we’re seeing such high engagement from the advertisers as they are investing more and more of their digital advertising dollars in the social platforms because of the explosive growth of short-form video, which also commands a higher CPM.
Operator: I would now like to turn the call back over to Utzschneider titer for any closing remarks.
Lisa Utzschneider: Thanks, everyone, for joining today’s call. I’m proud of our global team’s execution, and we’re pleased with our momentum heading into the second quarter. We’re excited to drive adoption of our innovative new products throughout the year. We look forward to updating you on our progress and to seeing you at several upcoming investor events.
Operator: Thank you. This concludes the conference. Thank you for your participation. You may now disconnect.
