Paul Hennessy: Yes. We’re enthusiastic. We said that we would be kind of re-launching our advertising platform in Q4. We were ahead of schedule in the delivery of that. We started to alert customers that we are officially open for business. And when you have not only the size and scale but the level of engagement with the asset that is Giphy, advertisers are enthusiastically including us in their campaigns for Q4 and are thinking very seriously about us throughout 2024. So all of the early signs are very encouraging, and as we start to get these campaigns up and running and start to deliver performance, we think that, that spreads and the advertisers get even more enthusiastic. So we remain bullish and in fact, seeing the quality of the team and the level of our execution, I’m more bullish than when we bought the asset back in June.
Curtis Nagle: Okay. Very helpful. And then a question for Jarrod; as much as you can, would be curious just to hear a little bit more about the structure of the new data deals, right? The original ones were very front-loaded; it sounds like a more spread, but any guidance and kind of the duration would be helpful. And then if you could, just what were the data revenues in 4Q of 2022?
Jarrod Yahes: Sure, Curtis. And Curtis thanks for joining. We look forward to working with you, and thanks for joining our call. Data revenues in the fourth quarter of 2022 were $15 million, and I think you specifically asked about the fourth quarter. The third quarter of 2022 was much lighter was about $2 million. And then I think your second question was just on how we think about the data deals. Ultimately, there are going to be a range of duration of contracts that we look at, depending on the specific needs of our customers. Those contracts could be one-year in duration, two years in duration. We’ve done contracts as long as five years and six years in duration. So we are going to look at a range of customer contract length and it really depends on their expected pace of consumption of metadata for building generative AI applications and training models.
We also plan on providing incremental training data to our customers, and we’ve seen significant growth in our library with fresh data. If you look back at our library, that growth was traditionally high single digits. We’ve seen a fairly consistent acceleration in that growth over the course of the past year. And both we and our metadata customers are very excited about that fresh incremental data that’s coming in that is reflective of the world around us today as it exists. Ultimately, we think this is going to create a more visible revenue stream for our data business. It’s going to give us a waterfall of contracts to build upon and better visibility for revenues in the years to come.
Curtis Nagle: Got it. Okay. Thanks very much and yes, looking forward to working with you guys. Appreciate it.
Paul Hennessy: Thanks Curtis.
Operator: [Operator Instructions] The next question comes from Karen Kenny [ph] with Morgan Stanley. Your line is open.
Unidentified Analyst: Thanks for taking my questions. I have two. First, can you provide some examples on the types of expansion deals you’re signing? And I’m specifically wondering if you’re seeing any extension into different content types that weren’t included in the original deals? And then second, Jarrod, can you comment on how the deal count and TCV composition used [ph] in 3Q relative to the first half of the year? Thank you.
Paul Hennessy: Karen its Paul. Great question. We see across our large partners exactly as you described. Some start with a particular content type and come back and say give us a lot more of it, and some that are taking a large portion of the particular content type are now moving from one content type to the other. And so by going both vertical and horizontal, that creates both a revenue and profit opportunity for us but also allows our large partners and customers to better train their models. So it’s the comprehensive nature of the entire asset library that we have as well as the underlying metadata and the cleanness of that data and the ethically sourced nature of that data that makes it so compelling.
Jarrod Yahes: Karen, just to add on to that, when you think about our customers and the demand we’re seeing from existing customers, a fairly significant component. I would estimate about half of the $40 million of incremental bookings is actually existing customers that are electing to purchase from us new content types or additional volumes of existing contents. So there’s very significant incremental demand that’s coming from existing customers, the remainder would be from new customers that we’ve secured. So we’re very, very excited about that. Nothing materially different to report in terms of customer count. This is still not a business that has hundreds of customers. It’s a business where our customer count is growing.
Our customer list is growing. We’re announcing a new customer every quarter, at least, if not more. We do have plans to expand the TAM and expand the offerings that we provide to make this a more attractive and more affordable proposition for different types of customers, but we’re very excited about the demand we’re seeing, obviously, and existing customers being a significant part of the new TCV pipeline build is a very exciting demand signal for us in terms of land and expand.
Unidentified Analyst: Great. That’s really helpful. Thank you.
Operator: I show no further questions. At this time, I would now like to turn the call back to Paul Hennessy for closing remarks.
Paul Hennessy: Thank you very much. And as always, we want to express our gratitude to our customers, our contributors and especially our employees. Thank you for joining us. This ends our call for today.
Operator: Thank you for participating. This concludes today’s conference call. You may now disconnect.
