So while the environment, like I said, is certainly stable, but still competitive, I think we are really excited and bullish on the elements that we control, and our platform continues to resonate with users as shown through the metrics that we’re — that we’ve disclosed here.
Lawrence Fey: Yeah. I’d only add, we’re continuing to make investments and what I would love to tell you that we knew everything about every incremental channel the day we started, reality is that we’ve been learning, we get great data and great opportunity to learn from these investments. And I think inherent in guidance that we’re putting forward next year, it’s deployment of those learnings, continued refinement of those investments and that’s helping that continue to push the return on these meaningful brand investments higher.
Logan Reich: Great. Thanks for the color. I really appreciate it.
Operator: One moment for our last question. Our next question comes from Ralph Schackart with William Blair. Ralph, please go ahead with your question.
Ralph Schackart: Good morning, and thanks for taking the questions. Stan, maybe sort of a follow-up to your last answer, the previous question, kind of pulling together. How do you view some of your biggest advantages you have versus say the competition? Maybe if you can sort of frame these — the biggest opportunities going forward and the sustainability of these advantages, especially in the context of the recent acquisitions, your ability to build a brand and drive repeat rates? Thanks.
Stan Chia: Yeah. Sure thing Ralph, and thanks for the question. I mean — I think I’d start with when you look at what and why we put out kind of a preliminary view of next year, I think, what we want to show everybody is that there is a good combination of organic strength in that growth combined with obviously now the acquisition of Vegas.com, ultimately leading to I think a pretty transformative profile of the business next year. When you look at organically, where we’ve continued to differentiate and invest, our platform has the loyalty program that we always talk about that is really a combination of the economic benefits from a Buy 10 Get 1 Free Program to all the experiences that we try to tack on that are really above and beyond, we talk about really cool unique things and I don’t think we’ve talked about it here.
But when you look at our newly announced partnership with the LA Kings, for example, that includes guaranteed Jumbotron time, right, so you buy ticket on Vivid Seats, the loyalty member, you make sure you’re on the Jumbotron which I think is a really cool experience. So all of those things I think leading to again what can see as really strong platform engagement retention and growth which is fully within our control, and you see that as increased repeat rates every quarter where they are again pacing now beyond our expectations and the highest that they’ve ever been. We then add to that the engagement platform that is a combination of Vivid Picks and Game Center now keeping users engaged through the entries in games that we have between their transactions so that when that time comes to purchase both through the discovery and the purchase that propensity on our platform is just so much higher than it would have been.
And then you turn it to, we’re also investing in incremental channels, which are acquisitions that then bring users into our ecosystem with all of the retention benefits that we have, our brand investments, our partnership investments are wonderful ways to continue to diversify and acquire users. And when you look at Vegas.com again, you tick down that list, what a great market to be in with the market leader. I think both Wavedash and Vegas.com are market leaders in their specific markets. And you think about Vegas.com again as in profitable acquisition engine given the strength of that business we can now profitably acquire high-value customers and bring them into our engagement platform and Vivid Seats ecosystem that has continued to drive the behavior that I think is indicative of long-term retention of customers and that really when you look at that together are the benefits that our platform I think just provides that nobody else out there provides.
I’ll pass it over to Larry who can give you the kind of that financial benefit is that again flows through everything that we just said.
Lawrence Fey: Yeah. Really excited about the combination of organic growth plus the inorganic contribution. I think with Vegas contributing what we think will be 10% to 12% of our top line next year, I think that frames out that we’re going to have a wonderful — a realization of top line growth, operating leverage, contribution from strategic acquisitions and probably most exciting because those acquisitions were later in the year, I think we’ll be able to layer in continued synergistic benefits as we hit our stride in the middle and back half of next year, and hopefully set us up for a strong performance into 2025.
Ralph Schackart: Great. Thanks, Stan. Thanks, Larry.
Operator: Thank you for your participation in today’s conference. This does conclude our program. You may now disconnect.
