You can go further widen the aperture further by looking at China. There are no family plans in China. They are only individual accounts. Another example from China is that while you have a subscription on Tencent, certain artists or bands are selling their LPs on top of the subscription. And so, it is so useful to have a really broad aperture on all of these things and not just think myopically through how things happen and only look at the dollars within that. And I’ll just give you only two examples. There are others. And there’s just so many different ways to think through this. So, I think what’s required for that is deep collaboration with our partners and making sure that the changes are win-win for both sides and that we drive the ecosystem up and to the right together at faster rate.
Bryan Castellani: Yes, Ben, it’s Bryan. I’ll take the ad supported that we’re seeing. Definite improvement there, I think everybody is familiar with the first half challenges and advertising recession. And so that rate of growth, that rate of improvement continues. And even without the addition of TikTok, in the combined revenue report there. We’d still be up. We’d still see a good improvement on the rate of change. And so, we like the trends there and are encouraged also encouraged, I think, by — even with Spotify’s remarks were. And that I think as you look across, I think, performance and streaming probably being stronger, performance and targeted advertising in the streaming space being stronger than the larger advertising space. And so, it sets it up well for ’24, and we feel good about the outlook there.
Benjamin Black: Fantastic. And Eric, congrats on the great one wish you all the best in your retirement.
Operator: Our last question comes from the line of Jason Bazinet with Citi. Your line is now open.
Jason Bazineta: I really like the way you think about the business in terms of getting the pricing right and finding win-wins with your distribution partners. Where do you think just conceptually where there’s the most agreement for a win-win where you sense that there’s — where you are on the same page with your distribution partners? Because I agree with you, there’s value there, but I think where The Street is going to struggle is whether or not you can sort of move the needle with new agreements with the DSPs.
Robert Kyncl: Sure. I think earlier during my opening monologue, I said there’s been great progress but it’s just a start. And it really is just that. And I feel like we’re in the first inning of it. And I’m not saying this because I’m in an earnings call with investors. Actually 100% mean this when I look at the full scope of all the work that needs to be done and the opportunity that is ahead of us. With some partners, we’re much further along with others less so. But what you see is that generally, when you make progress with one, others tend to follow in different ways within 12 months. So, we are taking a prioritized approach to this. I think the agreement is that the TAM of the market is probably greater than what we have been thinking about in terms of revenue.
And I think the agreement is that other industries have optimized their pricing better than we have. That doesn’t mean that we’ve done anything wrong because we also had to get huge amounts of people into the premium experience and revenue. I think the — what we have to figure out is how they get wins through this process in a way that it drives wins for us. And that’s where there are different ways. And this goes to the aperture broadening a little bit that we have to think through different ways, not just the ways that we’ve been used to thinking about. And a lot of this work takes — it takes a while. These things don’t happen overnight. But it’s important that it begins and then it’s done in a deeply analytical fashion because that is what the DSPs will do and that it’s done in a collaborative fashion because they need to bring the industry on not just one or two partners.
So that’s where we’re focused on. I just want to close with one last thing to add, which is this weekend, I was just listening to some music on Spotify and then I looked at their charts just on my phone. And right there, on my screen, I saw number two, this was in the U.S.; number two, Lovin On Me by Jack Harlow; our artist number three, I Remember Everything by Zach Bryan, our artist; and number four, My Love Mine All Mine by Mitski, who’s with us on Publishing. And this was — I took a screenshot of that, and this is my favorite screen chart of this year. Three of four in Spotify in the U.S. with us, and it’s just a great testament to our teams who in the beginning of the year, when I was in my first earnings call, I was sick, my voice was really bad, and we didn’t have the best results, and we said we know what we’re doing.
