Operator: The next question is from Shyam Patil with Susquehanna. Please go ahead.
Shyam Patil: Hey guys. I had a couple of questions. You guys talked about high single-digit growth next year with CTV going faster than DV+, implying, I think, low double-digit growth for CTV, can you maybe just talk a little bit about just what would be the upside factors for CTV in that scenario? And then how you see the Hollywood strikes potentially impacting CTV next year as well? And then just a follow-up, Michael, in your prepared remarks, you talked about the new tech platform and that enabling new products, new offerings, can you just talk a little bit about some specifics there? And any kind of timing on when those might be launched and potentially start contributing to revenue?
Michael Barrett: Yes, sure. I’ll take the latter first, and what David talked about the upside factors related to CTV. Yes. No, I think we’ll be able to, throughout 2024, roll out some of the innovation that’s occurring. I mean I think a general theme is you’re going to see a tighter stitching of the SpringServe ad server with the programmatic platform that Magnet streaming is. We have multiple clients that use both of them and making it more of a harmonious experience for the — our client end user, I think, is a big goal and that’s just not aesthetic, that will lead to better monetization for publishers, but that’s more of a 2024 discussion, and we’ll certainly be keeping in abreast of developments on a quarterly basis. And David, perhaps you want to talk about CTV for next year?
David Day: Yes, sure. And I think what would be helpful is to talk about that would be just set a little background on our perspective for 2024 from a little higher level. We’re giving this guidance for 2024. We certainly don’t have the same degree of confidence or visibility in 2024, as we do in Q4, just because of the time lag. But we thought it would be super helpful to share some of our thinking around what our financial profile would look like, what our margin will look like and so forth. And so with that in mind, our 2024 revenue guidance certainly reflects caution around the macro, caution in our managed service business, modest expectations from the presidential year. And so if I think about upside from a CTV perspective, certainly, I think if the macro turns around, that certainly pushes more dollars into some of our longer tail, higher take rate channels in CTV.
There could be upside from the presidential election as well. So, overall, we’ve just tried to take a very cautious approach with a focus on giving some visibility around our cost structure.
Shyam Patil: Great. Thank you guys.
Operator: The next question is from Dan Kurnos with The Benchmark Company. Please go ahead.
Dan Kurnos: Thanks. Good afternoon. Michael, I mean, you talked about kind of the tighter stitching of SpringServe ad with the SSP and you spend a bunch of time talking about sort of winner take most. I know that we saw that sort of streams press release with the Yahoo! DSP full integration with the SSP and the ad server in addition to TradeDesk through their OpenPath solution. And so I know FreeWheel has been kind of pursuing that. It feels like a — I want to call it golden handcuffs in a way, but it feels like an opportunity to gain ad share through kind of direct integrations. Is that sort of what you’re talking about? And can you kind of maybe give a little bit more color on the thought process or economics behind those deals?
Michael Barrett: Yes, Dan. Yes, we thought it was a great development. I mean, obviously, it’s not a huge regulatory trend. Some of the type DSPs wanting to get direct to publishers. In DV+ with an OpenPath product like the TradeDesk has, there’s a pre-bid adapter that makes it possible to be able to plug into multiple publishers. In the CTV world, there really isn’t that equivalent. And so we saw an opportunity because of SpringServe in its connections with every major publisher out there in the CTV world, to use — to enable those connections through SpringServe. So, we retain kind of the economics of that connection while some of the largest DSPs are able to have a direct pipe and pitch their clients and the efficacy of that direct pipe.
