So, that’s clear value we don’t owe any more money, and we’re getting back the $40 million, so that’s how we calculate the initial piece of value. And then there’s the second piece of value, which is the ongoing arrangement that we’re entering into with Google, a new partnership with Google across their myriad services, which includes distribution, includes marketing, includes cloud services, it includes other things that we do with them, so it’s a broad partnership, and basically, the settlement agreement, the new partnership agreement says that we will implement user choice billing, we will pay the fees that are required under that policy, which is 11% and 26%, and as a result of the new broad partnership we’re going to get benefits such that we essentially offset the impact of the implementation of user choice billing, and so we view that as largely neutral in the ’24, ’25, and ’26 period, and we’ll kind of go from there.
As you also, I’m sure, know and asked about there’s a lot of changes afoot on the regulatory front, on the legal front, related to App Store policies, there’s frequently decisions coming down that basically question the fairness of the current policies, and so as a result of that, we think it’s likely that over time, there will be more change to the App Store ecosystem. Importantly, we haven’t assumed any changes in our financial outlook for 2024 as a result of any regulatory or legal actions, but I think it’s fair to assume that over time, there will be some, and so we’ll quantify those at the appropriate time, but we certainly expect to get the benefits of whatever changes occur in whatever jurisdictions globally they occur in, and they’re occurring in a lot of jurisdictions.
So, that’s something that we’re continuing to watch, and we’ll continue to monitor and discuss with you as things evolve.
Bernard Kim: I’d like to add a couple more points, and Gary, that was a great summary of where we are. I feel now that we’re, like today, starting and going forward, I feel like we’re in a good place with Google, and it really reduces the amount of distractions that we’ve had as a team, and we can really focus together on growth. I view this as a reset of our relationship, and it helps our partnership with Google on many fronts, from marketing, to surfacing on their store, to promotion of our brands, and then, being at the table to really collaborate around innovation, AI, cloud opportunities. I believe that this can significantly benefit our business, and we look forward to actually working much closer with Google on many of these different fronts.
We’re also very confident now with our relationship with Google that we’ll help our brands continue to innovate, but also improve the ability to reach Android users worldwide. And we can focus day-in and day-out on how we can grow together and drive product innovation.
Operator: The next question comes from Benjamin Black of Deutsche Bank. Please go ahead.
Benjamin Black: Good morning, and thanks for taking my question, and thanks for the disclosure on Hinge, and actually specifically on Hinge. Could you talk about some of the initiatives that have supported this recent momentum that we’re seeing? Also, I’d be curious to hear if you anticipate a similar headwind to payers from the launch of weekly subscriptions like you’ve seen with Tinder. And then, lastly, in the past, you said you expect Hinge to be a billion-dollar business over the next few years. Given the strong fundamental trends that you’re seeing right now, could you perhaps give us an update on your thoughts as to when that milestone could be hit? Thank you.
