Unidentified Analyst: Okay, well, thank you for letting me take those question here. I really have two basic questions. And it’s kind of what you left us with at the very end of your wrap up. Mr. Atkinson. Can you kind of give us a sense why you seem excited about this automotive opportunity? I mean, is this from your carpool karaoke experience? And my other one, so karaoke has been in bars for years? And there’s a very strong link between bars and hospitality and the karaoke space. Why would you see this as a growth market?
Gary Atkinson: That’s a great question. So I’ll start off by answering the automotive part of your question first. So yeah, I mean we’re really excited about the automotive category in general. You’re right carpool karaoke has given us at least five years of experience in the market developing microphones for cars. And that’s not a trivial — it’s not a trivial thing. And when we went to the Consumer Electronics Show last January, and we announced our entrance into the automotive space, we saw overwhelming — and honestly overwhelming response to the product. And we’ve built a microphone that integrates with most major automotive brands. And we saw a lot of interest in the product. We’ve got the support of one of our strategic investors in the Stingray Group that has the content that works in the infotainment system of most cars.
So we’ve seen the success, I mean Tesla was probably the first to launch microphones in their cars. It’s only in the China market. But from what we understand that’s been successful. And so we’ve had a lot of conversations with a lot of major automotive brands to bring karaoke microphones into the car. Now it hasn’t gone as quickly as we had hoped. A lot of these automotive guys, they just, I think in the broader sort of economic environment, they’ve been a little bit more conservative. I think the other thing that we’ve been dealing with is that they’re looking forward. They’re building cars, or they’re developing cars now that will be on the road in 2024, 2025. So it’s been a little slower than we would have liked to just sort of start signing our first partnerships.
But the interest is there, the market is huge. You think about the millions and millions of new cars, particularly EV cars that are coming on the road every day, it’s a big market. And there’s a lot of interest from these automotive brands. So it’s something where I’m really excited about. I know the team is excited about. And we’re just going to be pushing on it and hopefully start attending some of these automotive shows like the LA Auto Show, or the New York Auto Show, just to stay in front of these brands. And again, I feel confident that we’ll be able to be a big player in that space. And I guess there was a part two to your question as well. So I think you were asking about something I’d said earlier about the hospitality market. And that’s another area that we’ve been really thinking hard about and looking at carefully.
I would say right now the karaoke market, the venue market is very sort of fragmented space. There’s a lot of individual players. So basically, mom and pop operators in almost every single major market. But there really hasn’t been a single brand or company that has really sort of led the forefront in terms of innovation in the space. And so we just see — we see a huge opportunity to disrupt what a traditional karaoke venue looks like. And really the goal for us is to be the sort of the talk-off of karaoke, if that analogy makes sense, in the sense that we envision a concept that is like upscale, it’s gamified. There’s a technology component to it. And obviously, it’s sort of wrapped up in a high end, upscale, physical environment with higher quality food and beverage.
