Brian Kinstlinger: Great. Last question and two-part for either Kit or Rob. Are you seeing more opportunity to run pay-per-view events to monetize your talent and/or content? And then, with the two podcast acquisitions you recently announced, can you maybe talk about the playbook for continuing to acquire more content?
Rob Ellin: Yes. So on the pay-per-view side, as you know — from the pay-per-view side, we pulled back tremendously last year. We’re seeing telltale signs that the consumer is demanding this from music festivals, music events, podcasters, live events, there’s a tremendous opportunity, and we see that as one of our biggest growth engines coming. And I think we’ve announced three pay-per-view events in the last three weeks for the first time in probably six months, and I think you’re going to see that continue. In terms of acquisitions, not only will you see it on the podcast side, what I publicly said is the reason to do these spin-offs: one is, as you can see, we have just this great management team in each of the subsidiaries, right; but on top of it, it gives us an opportunity to use that currency to roll up additional acquisitions.
And we see in the podcast side, there’s a tremendous opportunity to do that. Same thing on the Slacker side, right? We just announced with Byron Roth and with Roth Capital V, right, their fifth SPAC, which — their fourth SPAC just had a tremendous success a couple of weeks ago, going from 10 to 20. We see a great opportunity in Slacker to utilize that currency as well. So while our stock is down, this is that unique opportunity for us to use that currency in these subsidiaries to be able to do that, to be able to grow, so fully expect acquisitions on the Slacker side as well.
Brian Kinstlinger: Okay. Thanks, guys.
Rob Ellin: Next question, please.
Operator: Our next question comes from Sean McGowan from ROTH MKM. Your line is now open. Please go ahead.
Sean McGowan: Thank you. Good morning, guys. I also had a lot of — a couple of questions. I don’t know if Josh is still on the line, but I wanted to drill in a little bit more on that Drumify. How exactly does that get monetized? Where is the relationship going forward? And did I hear you right that you think that alone to be a $150 million business?
Josh Hallbauer: Yes, Josh is still here. So the way that the Drumify split works is with any creators that upload to the platform, they’re splitting the back-end rev share with us 50-50. So the publishing and the master that gets negotiated post the song coming out on the independent or major label release is literally split in half. And on the front end, when the songs are actually downloaded, the creators are getting paid as well, and that’s a 60-40 split. And when I say that, it could be $100 million to $150 million business, this is why. I’ve been in the business a long time. And this platform is quite literally changing how a song is created. It’s taking the A&Rs out of the music business and allowing people to share sounds and put together songs in a completely different way.
I’ll give you an example of something that I always tell people that really that just blows my mind. You can have a song that’s almost completely finished. And with this platform, you can say, “I love my song, but it’s really missing [indiscernible] sound from the 1992 Red Hot Chili Peppers’ album.” And then, boom, it will pop out any sound that sounds somewhere similar to that sound that you’re actually looking for. I think this is the future of the music publishing business. I think we’re at early stages, but we got to Version 2.0 a lot quicker than any of us planned to. And as soon as we start building in a subscription model, I think the sky is the limit. And that’s for Drumify 3.0 in the next six months.
