And it is set up, as we’ve always talked about and goes back to when we went public, that we will grow the virtual economies or vibrant economies on top of our platform, including advertising and other things that we’ll talk about at Investor Day. Those things, as they funnel in, obviously will also move monetization up materially. So we’re pretty excited about that. So overall, as we look at monetization, whether it’s per user or per payer, we like the trends that we’re seeing right now.
Clark Lampen: Makes sense. And I’ll [Multiple Speakers]
Michael Guthrie: There’s a little bit of a [indiscernible] about the geographic mix shift, which I think is what you’re getting at. I just want to remind everybody that in the US and Canada, as an example, as users grow in terms of older users, they monetize better. There’s a mixed ship going on even in our core. And so even with a younger user base, where monetization and bookings are growing more slowly, we’ve definitely seen a positive mix shift of older users who do spend more. So it is not necessarily the case that just because other markets are growing faster, it has to have a detrimental effect on the rate of bookings per user or per payer. And overall bookings growth is really what we focus on.
Clark Lampen: Understood. You talked about economy changes. Also, it looked like there were some adjustments that were made to sort of packaging and then the Roblox per unit of currency values earlier this quarter. Could you talk about maybe how those packages are going to sort of affect the user and developer community if at all? And maybe secondarily, how could those changes, I guess, impact the P&L moving forward? Thanks.
David Baszucki: Yeah, I just want to highlight, you may be seeing small experiments that were constantly running on the economy. We don’t have any big plans for a massive economy shift. Consider these nudges right now.
Clark Lampen: Thank you. Your next question comes from the line of Eric Handler from ROTH MKM. Please go ahead.
Eric Handler: Good morning, and thanks for the question. A couple things on advertising. First I imagine it’s very small but were there any advertising contributions in the third quarter?
Michael Guthrie: Hey Eric, there were, and you’re correct, they were very small. [Multiple Speakers] I do want to do a little bit of a preface to Investor Day, while the actual ad revenue is pretty small, there is a vibrant economy around brands and the content that brands are publishing on the platform. And there is a virtual economy related to brands, just like there’s a virtual economy. Or the virtual economy around brands is integrated into our virtual economy overall. So while the ad dollars themselves were small, they’re already contributing to the platform.
Eric Handler: Great. And then, maybe I’m getting ahead of myself here and we’ll talk more next week, but now that you’re testing video advertising, when I look at sort of the suite that you have for advertising, I imagine, the digital billboards are probably the low end in terms of pricing. You’ve got this unique concept with portals, and now you have video. Can you maybe talk about the value proposition of those three buckets?
David Baszucki: Yeah, I’m going to take a step back on the visionary value proposition and then we can paint a picture a year or two out and back into it. And once again, this is no promise of product delivery or any future revenue. But the vision really is ultimately what we do in real life. For example, hanging out with friends at a shopping mall, going into various locations, browsing, trying on, and literally buying is going to be fully replicated on our platform. And ultimately that buying behavior will go to both virtual goods, as well as someday physical goods as well. And this will all happen on the Roblox platform. So advertising is a great way for brands. And we’ve mentioned some of our great partners, Gucci, Vans, Nike, and whatever, to bring essentially friends traffic to their 3D virtual destination where people can interact with the brands, watch videos, try stuff on, and then ultimately buy virtual and physical goods.
So we actually think that advertising is just the first step to really a fully closed loop long-term shopping solution.
Michael Guthrie: And Eric, just a quick comment, because we’re going to cover this more on Investor Day and Christina who runs this business at Roblox will talk more about it. You’re really talking about portal ads and video ads and there are going to be more than one type of video ads. We’re going to talk about multiple products. I wouldn’t underestimate the value of video ads. Portals are very interesting and unique. We also have a massive user base and a very interesting age demographic that’s highly, highly engaged. So we really see value for brands and CMOs to look at various products on the platform. Ultimately we’re incredibly excited about portals and we’ve seen good activity and when brands engage at that level where they have their own persistent experiences, it really is a base for a lot of other interesting engagement and monetization in the future, but there’s a real breadth of products.
Eric Handler: Great, thank you very much.
David Baszucki: Thanks.
Operator: Your next question comes from the line of Brandon Ross from LightShed. Please go ahead.
Brandon Ross: Hi. You recently launched on a couple of new platforms, including Sony PlayStation. We’re just wondering if there’s any way to size the impact from those type of launches on DAU or an engagement? And if there’s an update on any more platforms to come? And then I have a follow.
David Baszucki: I would say we wouldn’t share any platform by platform engagement estimates. I think it’s safe to say it’s doing better than we expected. And I think the reason it’s doing better than expected is, we have so much amazing content that is already running on phones, tablets, computers, other console, that’s really just an accelerant of that existing content with a new destination.
Michael Guthrie: And actually, Brandon, I would add to that. It’s also a little bit more of [Metcalfe’s law] (ph). So those people on the network can connect to other people on phones and desktops and other things. And so we are seeing an impact that maybe we can’t just explain with a discrete view of what’s happening on PlayStation. It’s really the benefit that we’re seeing all over. But we’re going to talk about download numbers next week and everything, they’re very strong and very healthy. So we’re super excited about it, but I think it’s sort of a multiplicative.
