John Riccitiello: So China is the biggest gaming market in the world. So let’s just start with that. The second thing, we’re the market leader in China in the businesses we operate there. So super €“ it is important to us. Apologies, getting over a cold guys. But third observation I make we have made a change in our structure in China that we think better if you will, sets us up for long-term growth in China versus the structure we had previously, Luis can get it out in a minute. And then fourth, China after, I don’t know, maybe year and a half, not issuing new licenses, started to issue licenses again. And then lastly, we’re seeing a lot of interest and demand on digital twins. So to us, China is important, and we’ve set ourselves up for long-term growth there. .
Richard Davis : Great. I think the next call should be from Goldman Sachs. Are you guys on? Check to see if it’s Kash Rangan. We don’t have it. All right. Well, let’s go to Brent at the moment, Brent Bracelin with Piper, please.
Brent Bracelin: Great. Can you hear me okay?
John Riccitiello: Yes. Hi, Brent.
Brent Bracelin: Perfect. I guess, John, maybe we’ll start with you. I mean, mediation was one of those missing pieces of the Unity Gaming Services offering. I think that you addressed with ironSource. What have you learned so far in kind of Q4 as you think about some of the functionality they bring to these services? And kind of maybe give us a sneak peek into what mediation can help with as you think about the ad market in 2023 here?
John Riccitiello: So thank you for asking that question because it allows me to address something I wanted to say on the call. What we’re seeing is that there’s strong interest in the combined offering that we have with the collection tools like LevelPlay and the two ad networks. We are seeing market share growth. We’re picking up customers under our mediation platform. And of course, that drives increased share of wallet. Now these things are not instantaneous. You come to an agreement to do these things. It takes some engineering time and effort to bring them on to our platform and that it’s typically phased. And so there’s not a significant impact in our Q1 from the market share gains we’re seeing, but we are expecting to gain market share in Q1 and throughout the year, which is why we were confident in predicting growth for the business for the year.
It’s €“ essentially, what we’re trying to say is we’re seeing starting in the middle of last year, a stable market for the advertising business. We do expect that to pick up at some point. Luis and I made a hard call a while back to say, no matter what anybody tells us, we’re not going to predict a recovery in 2023, even though there’s a fair amount of folks that would argue there should be by the end of this year. We’ve chosen not to do that because it put a enable us to put a stronger focus on cost and get the EBIT leverage that comes from that. So within that stable market, we’re predicting market share growth, and we’re seeing it already in the marketplace and we expect to see that throughout the year. So all-in-all, the integration ironSource Unity is going well.
