Evan Spiegel: Hey, thanks, Rich. There’s a lot in there. So let me see if I can get to all of that. I think, at a high level on the DR business, as I mentioned, the key here is that we’re really improving the overall value of those conversions. But, as a result of volume of those conversions has decreased as our models relearn on the conversions that were driving, and hopefully, obviously we can expand that volume over time. But it’s also requiring advertisers to adapt, for example, so they need to see that increased volume show up, excuse me, that increased value show up in their third party measurement tools, for example. And then, go in and increase their bids to reflect that increased value. And so overall, that sort of disruption, and again, when you layer in, of course, the changes to the app UI, and even things like our sales reorg channel redesign this quarter, it’s a lot all at once.
But frankly, we’d rather rip the band aid. And so, we waited to release a lot of these changes. In q1, I know Jerry has been eager to make a lot of these changes. But we know that that Q4 is critically important for our advertising partners, it’s just vital to their businesses. And so we held a lot of those changes to Q1, and we’re making them all at once. So they’re disruptive, but I think the really exciting thing is that, it is having the intended impact in terms of value to advertisers. And frankly, the expected impact in terms of the disruption to our business. So, we’re going to continue to work through it but again, the improvements we’re seeing in terms of third-party match rates, dwell time, non-bounce rates that’s all really exciting.
I think an overall an input to improving return on advertising spend for our advertising partners. And then, I think I said about content time spent so I’d say overall content viewers continue to grow content products, including Spotlight, friends’ stories, creator stories, partner content. That’s true in the U.S. as well where our content viewership is growing, and globally overall, time spent watching content on the platform continues to grow. But time spent watching friends’ stories does continue to be a headwind to total time spent. So if you think about our investments here and what we’re doing to re-accelerate time spent with content, the most important thing is really increasing Spotlight viewership and engagement. We think we’ve got a lot of headroom here.
We’re excited about the 100% year-over-year growth on time spent and 30% year-over-year growth in Spotlight MAU. We’re also continuing to invest in new creator tools and growing our creator ecosystem to increase creator content supply and diversity. That was definitely a bright spot in the U.S. where time spent watching creator stories grew 10%, year-over-year in Q4. And then, we’re making a lot of product improvements and innovations around friends’ stories, including things like community stories, which we think are really valuable to our community. And then, lastly, obviously onboarding new media partners who are driving significant viewership and time spent as we shared in the letter. I do think short video competition is going to continue to be very intense.
Our community loves watching entertaining short videos. So what we’re really trying to do here is just play to our strengths around our camera and messaging. We benefit from the enormous amount of video creation happening on our platform. Over 5 billion Snaps created every day, and this network of close friends who really enjoy sharing videos across our platform. So I think we’ll continue to play to our strengths there. It’s part of what’s contributing to the great growth we’re seeing, in spotlight.
Operator: Thank you. The next question is from Brian Nowak with Morgan Stanley.
