Lisa Knutson: Yes, Stephen, I’ll start and then turn it over to Adam. So as you know, the fourth quarter is the start of our new upfront season. And as I mentioned in my prepared remarks, really industry-wide the dollars that were written in the up-fronts was down, I think across the board about 10%, if not more depending on sort of the networks. And I mentioned at least a bright spot for us was writing more CTV dollars for the upfront next starting in fourth quarter and next year, and also some of the real price but which was balanced. We’re basically starting with a lower volume because of the upfront reset in third quarter. However, we are continuing to see — we’ve seen it in second quarter and third quarter scatter revenue really holding its own.
We are also seeing and expecting in third — fourth quarter for our scatter pricing to remain pretty strong in terms of CPMs compared to the what we wrote in the upfront. For instance in third quarter, we saw about a 55% increase over our upfront dollars in terms of CPMs that were in the scatter marketplace. The part of the guide also includes, I would say, the — typically in fourth quarter you see high dollar advertising on the DR side because of Medicare and those sorts of things which has really in many ways is a little bit softer in fourth quarter. So that’s flowing through our guide as well. I think the bright spot continues to be in CTV. We continue to see that growth not just ending Q4 of this year. But as I mentioned in my comments to Dan into 2024.
As for your next question selling ION local — with local that is absolutely something that’s in our not only thing that we did this year with a couple of big advertisers wanting both, I think the reach that ION provides across the country reaching 97% of the country and the depth of the markets that we have in local. I think that’s a really unique and go-to-market strategy that we are really working with our new Chief Revenue Officer working to put in place for 2024, and beyond because we see that as a huge opportunity for us that maybe others in the marketplace aren’t able to quite pull off.
Adam Symson: Dan, thanks for the question on Tableau. In the fourth quarter, we’ll continue to leverage our own inventory across our local stations, national networks, digital media, alongside targeted paid media on linear TV, connected TV, social and digital platforms and some work we’re doing with influencers to sale of Tableau. The balance of the loss in the other segment is this work. We’ve essentially transitioned from the spend we had dedicated to broadly speaking the growth of the over-the-air marketplace — to the spend that we are considering consistent with growing the over-the-air marketplace, except now through retail sales and through sales of Tableau. So this is really consistent with what we’ve talked about before.
We expect to continue to track carefully the ARPU Tableau. We’re tracking the CAC or the sort of the average customer acquisition costs, and want to manage it effectively so that we are ensuring that we’re doing activities here that are adding to the value of the company. And I able to share some of that information to future calls. Look, Tablo is not only consistent with our focus on growth of the over-the-air marketplace. It also is consistent with growth that we expect in the connected TV marketplace. And I would say, for people who don’t quite understand how it works, definitely visit tablotv.com and I’m happy to provide sell-siders with the full package antenna plus Tablo if you can’t afford the $99.
Operator: Thank you. And next we go into the line for Nick Zangler from Stephens. Please go ahead.
