Lucy Rutishauser: Yes. So we €“ yes, the three-year CAGR that we previously had out there was growth of low to mid-single digits. Right now, we’re saying low-single digits, could still be mid-single digits. As I mentioned, we’re still early into 2023, and we have conflicting reports out there, one which the distributors are reporting where they continue to churn, but then industry reports that are looking for moderation. So right now, we’re confident in saying the three-year CAGR would grow low-single digits.
Steve Zenker: On the political €“ on the previous election prior to this one, it was an eight-week cycle. This was brought down to a four-week cycle and the dollars that were expected to go €“ to the runoff did not materialize the way it did in the previous election. That’s why it’s a little bit lower from the guidance.
David Karnovsky: Thank you.
Operator: We do have a follow-up question coming from Dan Kurnos at Benchmark.
Dan Kurnos: Yes. Thanks. I don’t want to ruin it, but I guess we’ll go to a core question, 53 minutes into the call here. Rob, maybe if you could talk a little bit about the €“ if you can talk a little bit about maybe like local. I know you don’t break out local and national anymore, but it would kind of imply given the national weakness that local is somewhat up, but I know you don’t have great visibility, maybe a little bit of softening in March, but you’ve got some pretty easy auto comps and be helpful if you could kind of give us sort of your view on sort of the broader landscape for advertising as you see it sort of playing out over the course of this year?
Rob Weisbord: Yes. So local was strong in Jan and Feb. The weakness we’re seeing is really on the national side. And we continue to think that we’ll see that. We’re not seeing any cancellations at all. What we’re seeing is close in, and that’s why March is lagging right now. We expect the orders to start to come in at the end of this week and beginning of next week. And with our large CBS, we’ll be able to take advantage of March Madness, the tournament. So automotive has rebounded off of its lower basis points, but there is inventory on the local lots, the Tier 3 lots, even though interest rates are up, people are still buying cars. I’ve had several conversations with mega dealers. And so the purchasing of cars during the COVID cycle is really used that was driving because there was no new.
Now they’re having shipments received at the Tier 3 level. So that bodes well for us. The legal category, people are traveling, and so the Travel segment and the Entertainment segment is up as well. And so we’re still confident. And the way we built our systems even at the economy downturns, we have various levels of packages and solutions for the advertisers, even if they cut back some budgets, we have solutions to have them remain advertising. And we have a lot of studies that those that remain advertise in downturn come out stronger than those that go in advertising the downturn. And so I think, with our mixture of solutions that helps solidify where we are on a core basis.
Dan Kurnos: Got it. That’s helpful. And Chris, is there a way to kind of size the incremental tennis opportunity as you see it this year? Or is it more of a 2024? And I’d love an update on where Compulse is right now?
