Do people actually skip it or not? So it’s the whole thing. We just released that. We have a few customers with that. We’re getting a very positive feedback and they actually want to add more and more campaigns using that technology. And we’re feeling very, very optimistic and positive about the whole trend of generative AI within Perion.
Operator: Thank you. Next question is coming from Mark Kelly from Stifel. Your line is now live.
Mark Kelly: Great. Thanks very much. I had two quick ones. Just first on CTV, we’ve been hearing about CPMs continue when they come down across the industry. I know you guys have different types of creative units that garner a higher CPM. I’m just curious if you’re seeing any pressure on CPMs there? That’s the first question. And then just on the WAVE product, can you expand just a little bit on that? I guess are all the intense signals coming from the retail media network? And then I guess will you book that revenue as part of retail media? I guess a little more color there would be great. Thanks, guys.
Tal Jacobson: So let me start with the WAVE of things because we already started that and then Maoz can talk a bit about more KPIs about CTV. So yes, first of all WAVE is basically data-driven advertising on its scale. That’s why we need machine learning and generative AI. And the easiest and more natural place for that is going to be in retail. Now we’re starting with retail, which is obviously part of the retail media effort we have. But if we’re going to add it to more and more vectors and verticals such as travel, automotive and others, but retail, since we get through our relationship with the retail, we get so much data. It just, it makes so much sense to start with that.
Maoz Sigron: Now with the CTV, so CTV, as you know our CTV is not the standard CTV. We’re talking about the high impact CTV with different formats we are using. We are charging the same CPM. We are not seeing any drop or any change in the trends. We’re able to keep this torque on live CPM and this is what we are also expecting for this quarter. We don’t see any weakness on our CPM around CTV.
Mark Kelly: Okay, great. Thank you both.
Maoz Sigron: Thank you.
Operator: Thank you. Next question today is coming from Jason Helfstein from Oppenheimer. Your line is now live.
Jason Helfstein: Everybody. So first I want to offer my sympathies and support for all the Israeli Perion employees. A few questions, so on the mix away from video, how much of this is media quality reasons or is this just solely kind of profitability and efficiency on your side? That’s question one. Then question two, Maoz can you elaborate on the third quarter macro headwinds you cited? Were there any specific verticals that you want to call out as we can kind of would maybe like areas you saw were thought were strong, was that just like a broad comment? And then just on the weaker, I mean I think we all know CTV CPMs have been coming down, given the explosion of inventory, isn’t that a positive for you because it drives higher ROI, and then if you could show higher ROI, you can get advertisers to put more budget there? Thanks.
Maoz Sigron: Thank you, first thank you, Jason. So about the video, this is pure economic at the unit of economics consideration. Once we see that you can get more profit from display, we will shift the inventory to display. It’s just pure economic consideration. Historically it was better with the video, but in the last, let’s say quarter it was more, but it’s something the trend started a few quarters ago, that is starting that we can get more profit with the display. So we did this shift. This is for the first. About the macro, again we ended the quarter more or less aligned with the original plan. The diversification is part of the reason why we’re able to end the quarter. But definitely there is a change between what we planned originally to what how we end the quarter.
