You told us last May that the main revenue for the business would be advertising and you’ve had a lot of announcements of advertising partnerships or people who have signed up to advertise with you including General Motors which was interesting. Can you just give us a summary of where you’re at with that? It’s a bit hard to keep up, to be honest, there’s just been so many.
That’s great, so many is a good thing, right? Yes, I guess over the last six months we’ve built up the brand partnerships team, that was also part of our plan off the back of the IPO. So we’ve been working on our proposition and getting out there, talking to brands and I guess I’m starting to get some wins. It’s starting to go very well. There’s a combination of direct deals where we’ve one programs of work and we’re doing customer campaigns for them on the platform. Then we also do programs. We mentioned, a few weeks ago we did like a gift guide for a holiday program which is extremely successful. Each one of the partners that signed up had phenomenal results and we’re in discussion with them all for year long programs this year, actually. The brand partnerships thing is still fairly new and still, I guess, maturing. And that’s why we definitely see that accelerating momentum building through 2018. You’ll definitely see a lot more announcements around partner wins this year as we’ll get more traction with them. I don’t know whether it applies really, I’ve not done this before. Do you have a churn rate with your advertisers? I’m just wondering whether your advertisers are resigning with you, are they doing a campaign and then going away or how’s that going?
Yeah, it’s a great question, Alan. It’s really varied. In the case of the gift guide, they all had such great results, we’re in discussions with each of them to have ongoing programs. Some brands say, ‘Okay, we’re launching this product. We want you to be one of our partners launching this product.’ And then it’s like a 3-month campaign and that’s it. Then they come back to us if they’ve got something new in 6 months or 12 months. Others basically will do a test campaign with them and then pending the results of that, they’ll put it in the budget for the following year and then do bigger programs.
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