Learn why TV's are now playing YouTube on them more than the usual networks.
Shockingly, YouTube is now the #1 streaming service on televisions – bigger than Netflix – and bigger than broadcast TV. For 17 straight months YouTube has been the winner, with ad sales growing at double digit rates and exceeding $50B/year. This podcast tells the phenomenal story of how Google kept tinkering with the platform until it figured out how to profitably monetize those users.
An even better story in this podcast is about the real winners who are the YouTube content creators, many of whom make more than $1M/year. Even though YouTube doesn’t spend anything on content creation (compared to Netflix’ $17B/yr) it has paid out over $70B to content creators from ad sales over the last 3 years. And this has implications not only for what you watch, but for you to participate in this “gold rush” where some at the top have net worths approaching a billion dollars. We explain how diligence, using all social media channels to become an influencer, and making lots of content is now part of the new media marketplace – completely unlike 30 year ago – with a lot of new opportunities being created every week.
Thinking Points:
Manny (00:05.622)
Welcome to the Business Trendsetter podcast, where we talk about trends and how to use them to run your business, to grow your business. My name is Manny Chiran. We're Spark Partners. here every week to discuss all things trends. We peer behind the curtain of lots of interesting industries, and we really take an interesting approach to how we view the world. And that is, of course, through the lens of innovation, trends, and business growth and so forth. So the topic for today has to do with something that most, if you're on
Adam (00:13.535)
And I'm Adam Hartung.
Manny (00:35.342)
line watching this and even in your car watching or listening to this or whatever, you are likely, it would be 100 or maybe 99 .999 % that you've actually used YouTube. You've participated, you've watched videos on it. But today we want to kind of turn the lens around and take a look at the YouTube side, how much it's grown and really how it's competed and certainly competes now with television and other forms of entertainment. Why it's the second largest
search engine behind Google for many demographic age groups. so let's start there, Adam. Let's talk about sort of what YouTube is to the television world.
Adam (01:18.785)
Yeah, so I wrote my first column around about YouTube and the media 15 years ago and when I was with Forbes and back then I used to project that the broadcast television guys were in really big trouble. That their content was not being watched enough, that they were losing viewers all the time. And of course, the big threat then was Netflix and to some extent Disney and some of the Hulu was out there with streaming. So it was kind of like
you know guys what's happening here is you're not getting the content you're not making enough getting enough eyeballs to get enough advertisers to get enough money to do the content that the three networks frequently did for a long time so that's 15 years ago and that's clearly now happened and we're at a point now where the broadcast television is just about kaput you know very few original content now most of what they do is a reality tv when i was when i was a young boy much older than you manny
When I was young, they used to have the prices right was a prime time television show and that let's make a deal was a prime time television show. Password was a prime time television show. And that was because they filled up the airwaves. You know, they had needed to have content and these game shows were very inexpensive. You set up a set, people come on, have some interviewers that get paid nearly nothing. Then you have these people that were being asked questions or game players and they didn't get paid anything unless they won something. Right.
Manny (02:21.634)
Yeah, exactly.
Adam (02:41.793)
So really, really cheap content. that's, we continue to go down that road. Right now, reality TV is only keeping broadcast television alive. You got people that go on shows to try to play a game that runs through 14 episodes. And at the end of the day, some guy maybe wins a million bucks, right? But $1 million for that is nothing compared to the cost of trying to produce a sitcom, for example, 30 minute sitcom with eight or nine episodes. And live sports, I mean...
If it wasn't for those two things, you wouldn't have television anymore because they can't get enough people to watch FBI or some of those other programs to make them pay off to make them good. So kind of knowing that what's happened, what we've got to now. Well, it's a lot of streaming, right? You sit down, you turn on the television and you watch, you stream something. And so naturally, my thought was that the biggest streamer has to be Netflix. I mean, I look at the numbers on Netflix, you know, that how much, how many eyeballs they get, the number of subscribers they have, and was very, very impressive numbers.
Manny (03:10.156)
true.
Adam (03:37.281)
That's when I was surprised to learn that Netflix is not number one when it comes to streaming on television. Now, remember, this is important when I say television because you're right, there's a lot of people out there that stream mostly on a mobile device, know, some kind of a... But, and so we know that the older demographics skews to television. People over 50, people over 60, over 70 used to sit down and on the TV. But nowadays, you know, you turn on your TV and right there you can access...
Manny (03:51.372)
like their phone or their tablet or their computer.
Adam (04:07.073)
Streaming I thought it's got to be Netflix. No, it's YouTube for 17 consecutive months the number one streaming service on televisions in the United States has been YouTube and that really got my attention You know years ago again going back say 10 12 years ago We were looking at this whole media market and advertisers didn't want to advertise on YouTube and that it was a very simple reason You never knew what some YouTube creator might say or do
Manny (04:19.308)
I get it. Absolutely, I see it.
Adam (04:36.609)
And if you were a Coca -Cola or a well -known brand, you didn't want some guy doing some half crank and then showing his butt crack. And then all of sudden your Coke ad comes on. I that was something that no advertiser wanted 12 years ago. It was like, I want curated content. That was the term we used, meaning edited content, meaning somebody looked at the content, somebody approved the content, and then your ad went with the content. And we're kind of like, okay, advertisers are never going to go to YouTube.
because it's not curated content. So again, just winding back, what did YouTube do? Well, if you go back to 2000 and want to say 2005, they came out with YouTube originals and initially they thought it would be a great way to get people to look at curated content. But unfortunately, a lot of the content that went up there became like a Napster of the era. I'm showing my age here in Napster. That was where people put all the songs that they pirated on a server, right?
And that's what started happening. People were pirating or putting up shows and YouTube was doing that. And then they were selling ads. And of course the networks went after that in a big way. Lots of lawsuits. There was one for a billion dollars that got filed against YouTube. The lawsuits didn't win. YouTube won the lawsuits, but the legal costs were so great and the pain in the neck was so great that they shut down that approach. But then again, they revised it in 2012 and they became sure that they needed to have their own content.
So they hired Madonna and they hired Shaquille O 'Neal and they said, look, you're going to have a channel and you create content for your channel. They started with a hundred million dollars and over the next two years they spent another three hundred million dollars and they threw a party and nobody came. No, people weren't that interested to try to stream the channel for Madonna, Shaquille O and the others that they selected at the time. And we could say they've just picked the wrong people, but whatever reason.
Manny (06:10.072)
Mm -hmm.
Adam (06:30.817)
It was not successful. There was one show, was the sort of a karate kid remake that that turned out okay. But otherwise it was just a complete bust. So they pulled the plug on that 2012 project. By 2015, they said, okay, we're going to go after this again. They hired an MTV executive and they said, let's go off and get some content. Let's bring it in. So they started to pay for content creation like same way that Netflix did. And they went and they also bought like Taylor Swift concerts and Justin Bieber concert.
Manny (06:59.725)
Yeah.
Adam (07:00.577)
And they said, we're going to go build this off. Well, that was 22, 2015. And in 2022, they shut that down. Couldn't get enough viewers to get the advertisers to get this thing to work. So at this point, you're kind of like, well, Google must have given up, right? I mean, what else would you do? Well, what happened was they, they looked around and they realized that the shows that were nonsensical, meaningless, that didn't have anything going for them. They never really got big. They never really amounted to much, but there were some people.
like you and me, Manny, just people that wanted to go do something interesting. And they had an idea for a show and nobody on broadcast TV wanted to pay any attention to them. Right. They were like young people, people in college, but they could take an iPhone and they can make a 30 minute program about something. It could be comical, could be musical, it could be interesting. And also we see the explosion of TikTok and Instagram where people start making short format stuff anywhere from 30 seconds to three minutes.
And that market starts exploding. So some of these people say, wow, I can do some short content stuff, 30 seconds, and they get people to come over and watch my 15 minute show on YouTube. And so YouTube made the switch in 2023 and they said, look, here's what we're going to do. We're going to let these people run with these programs. We're not going to pay them anything except ad dollars. If they can get a big audience, we'll get the ads and we'll push the ads to their YouTube videos. And that
Manny (08:09.047)
Mm
Adam (08:29.153)
changed the world, totally changed the world. And so now what happened is YouTube is so successful that where Netflix is spending $17 billion on content creation, then having to get subscribers and advertisers with the new model, right now YouTube is paying out $70 billion to content creators, but that's percentage of ads. They're not putting any skin in the game at all. They're not putting any money up front. So they're getting way more than that. In fact,
Manny (08:30.306)
Yeah, for sure.
Manny (08:52.3)
That's insane.
Adam (08:57.953)
Last quarter, ad sales on YouTube were 13, up 13%. And they're now doing about $9 billion a quarter in ad sales, probably close to $50 billion a year in ad sales on YouTube, which they're passing through because once again, they're the number one streamer on television. So I think it's a great story in terms of never giving up on the fact that the marketplace is changing. Try something that doesn't work, try something else. They went at it three times.
But that's a really great story about how a big company did something. But the other really big story, there these content creators. And one of them I heard about is a guy named Mr. Beast. Maybe you want to take it over here, Manny.
Manny (09:31.01)
Yeah.
Manny (09:35.724)
Mr. Sure, absolutely. So before I talk about Mr. Beast, I do want to say that to prove to myself and maybe to a portion of our audience that YouTube is in fact surpassed Netflix or something else on television, my mother and my stepfather are watching almost exclusively YouTube videos on their TV.
And you know, anytime I think about if a technology or if a company has really gone to the mainstream, I look to my parents because they're more on the laggard side. They're not going to be the front end. They're going to be towards the back. And I walk into their house and they've got YouTube playing, you know, random My Dachis videos or something. But back to Mr. Beast. on the Mr. Beast got 309 million followers on YouTube.
you know, my kids introduced me to Mr. Beast a couple years ago. I had no idea who he was and they absolutely love him. They watch his content religiously. He gives out lots of random things and that's kind of the shock value like, Mr. Beats is going to give out a, you know, five Lamborghinis. He's going to have everybody come to this stadium and, and they're going to have to sit, you know, for six hours and blah, blah, blah, blah. But of course,
If you think about what he's doing, he's a brilliant marketer. He's bringing these
Adam (11:05.297)
What's these people into some kind of a challenge, right? mean, tell me, let's talk a little bit more. What it actually does. He says he's going to give away a Lamborghini, but he doesn't just randomly pick people,
Manny (11:15.83)
Sometimes he does, sometimes he doesn't. Sometimes he has people do certain things. It's basically, you kind of hit the nail on the head earlier. It's like a Monty Hall show. It's like a, you know, like a Price is Right. It's a mixture. It's the modern day version of that. And we've talked about this before that, you know, the...
Adam (11:24.641)
Thank you.
Adam (11:41.441)
Thanks, manny.
Manny (11:42.774)
Yeah, not sure what happened there.
The day of the mega superstar is sort of on the the downfall. There are a lot more of these micro or nano micro influencers that then end up growing up to be the Mr. Beast of the world who are generating I think his net worth. He's 26 years old and his net worth is about $700 million based on the deals he does, know, beyond YouTube, of course, right? I YouTube is going to pay him so much, but he's got
Adam (11:49.569)
you
Manny (12:15.786)
other things. If he mentions a dealership, hey, I got this Lamborghini from the, you know, Beverly Hills dealership, whatever, then there's gonna be a cut there. So he's got this brilliant marketing machine that's really taken off and providing entertainment to a whole swath of demographics.
Adam (12:36.673)
So I was reading something on the New York Times, I think it was, about how he got something like 2 ,000 people to go to the radio stadium in Las Vegas. And they signed up on an agreement to do some kind of a challenge. And then they had to surrender their cell phones and had to surrender any medications or anything else they had. And they go into this challenge. then the Times was, of course, trying to pick the thing apart. But they were saying that, you know,
They basically signed everything away, including an acknowledgement that they could die. And then as they went through the challenge, some people had to drop out because they didn't get fed, they didn't get water, they didn't get their medicine, things like that. And so there was a big fallout from it and a lot of complaining. But at the end of two days, apparently a certain number of people had made it through these challenges and were getting ready now for the big game. And whoever wins down the road gets $5 million.
And what struck me about this was all those people hadn't paid. They hadn't gotten a dime. Like not one of these people had been paid anything up to this point. And he floated this five million dollar win based on the challenge. And I went back to thinking about this YouTube model and the YouTube model says here's you can sit there and say, I don't a person wouldn't have to have five million dollars. Basically, they can say, I can't if I can get enough people to come to this challenge and I can then get enough people to watch it.
then I will be getting paid based on my ad revenue, say $30 million. So then if I pay, let's say $100 ,000 to rent the stadium, and then I pay another $25 ,000 to $30 ,000 for some costs along the way. know what the net of it is? I put a million into production. I'm going to give a million away. If I'm going to get $30 million in ad, I'm still at $24 million. And YouTube's making that much at the same time.
Manny (14:27.8)
Yeah.
Adam (14:32.257)
They're sitting over here getting somewhere 50, 60 % of those ad dollars. So it's amazing how the business model has changed. We were used to this idea that you paid somebody to write a script, you paid somebody to get the studio and all that kind of stuff, you paid a bunch of actors to do it, and then you came along later and you said, I hope I make a lot of money out of it. What this is, these people are sitting there.
often with very little to no investment. And then they're offering to give away prizes because they're saying, hey, at the end of the day, I'll get enough eyeballs that I just it's just a percentage of my cut.
Manny (15:12.12)
Yeah, it's true. the media, social media channels are similar. They have, you know, similar models where, maybe in more indirectly where influencers will get paid a certain amount of money to talk about a brand. I was actually working with a client at the time that wanted to have Bethany Frankel. I'm not sure if you know who Bethany Frankel is. She's a kind of an internet star. She actually had a TV show.
the Housewives of New York City or something like that. And she's done a lot of film topic things in her day, but she's kind of a popular person. She's got a podcast and she's got things she does. so...
Adam (15:54.581)
Didn't she create that line of drinks called Skinny Girl?
Manny (15:57.55)
Yep. She did skinny. Exactly. Skinny girl. And so they, this person I was working with wanted to engage with her. So I actually got her and her publicist on in a conversation. And, this was, what four years ago before the pandemic for her to announce and have a, a three, three posts. It could be the same week. It could be stretched over two weeks, three posts mentioning a product was 300 grand.
So for her to say, I'm using this particular product, I love it, three times, 300 grand. And so it seems like a lot of money, but at the same time, if your reach is four million people and you pencil out the math and it works for you, then it's worth it.
Adam (16:46.379)
So Jerry Seinfeld had a comedy show for many years. Probably some of our listeners are too young to remember who he was. Anyway, when they asked him what the show was about, the Seinfeld show, he said, it's about nothing. Meaning we just do it for comedy reasons. It's about nothing. And I, the one that always struck me that was about nothing was the Kardashians. I can honestly say that at this point in time, if a Kardashian walked across my path on the street, would
not recognize that person. I don't know any of them by name. I just know there's a family named Kardashian. My better half is absolutely struck by the fact that these people are making hundreds of millions dollars a year. And I said to her, like, what do they do to make a hundred million dollars a year? She goes, exactly what you said. They recommend products. People watch them. People are enamored by them and their lifestyle and people want to be like them. And so they're able to
get paid these enormous amounts of money. that's, again, what we're trying to get at, I think, with this show was that there was a media 15 years ago, 20 years ago, and that media had a way of doing business. And we knew, as I said, 15 years ago, I wrote that that's dying, that that model wasn't going to hold up because there was too much competition around the edges. There were too much of these new things coming along. They're going to eat away at the advertiser base and not make it possible for traditional media.
But what I didn't project at the time, I'm not an expert on this stuff, was who would those guys be? And of course, I predicted Netflix would be a winner. That wasn't hard. But what I didn't see was how all these independent people like you're talking about, you know, like how could they come on? How could a Kardashian come along and turn this into so much money? How could Skinny Girl Line turn this into so much money? And how could somebody who's 25 years old name himself Mr. Beast and start running television?
Programs on YouTube and make himself worth 700 million dollars. It seems to somebody that's older like that's impossible But then again, I've never watched a mr. Beast program But what we're getting at is that the world has changed the world is different. One of the things that I read was that 48 % of the YouTube viewers are under the age of 34 So, okay what they're saying is almost half the market is under the age of my children, right?
Adam (19:09.759)
So that's not a bad thing, but it's a good thing because they're getting hooked on this. And it's also saying the world is changing. I agree that there are older people watching. I don't want to disagree with that. As you said, your mom and dad watch it, but they're probably out on guard.
Manny (19:24.622)
Yeah, and something else about the demographics is when I first heard this five years ago, that YouTube was the number one search engine among those over 55. I couldn't believe it. I really couldn't believe why wouldn't they go to why wouldn't they go to to Google? Why would they go directly to YouTube? And then I started to realize exactly why. So my parents can go and pull up some some Mexican star from the 60s that had videos.
Right? So it connects them to a world that they wouldn't have access to. And to do it on the open range, if you will, to do it on Google, there's too many other things that could come in the way. So if they go to Vicente Fernandez, some concert he played, it's going to be right there. It's going to be a video. It's going to be already set up. If they do that in the open plane, if you will, in Google, who knows what they're going to get? It's a wild card. So I think there's different operating models. And what's interesting is, and
to watch what's gonna happen in the future, right? Here at Spark Partners, we talk a lot about trends. And if you start to layer on these trends, like AI on top of the asynchronous life, on top of the gig economy, and da da da, you're gonna start to see a lot of new ways of enjoying entertainment. Imagine a custom curated AI driven show for Adam Hartung, that is gonna, because they recognize your search,
results, they can see the kind of stuff that you like. Maybe you like westerns. I don't know if you do. you know, they're going to create a live action looking you know, some of these graphics on these computers are ridiculous. So you're to be immersed in the custom Adam Hartung show. Think about that.
Adam (21:08.757)
And I will think, yeah, and also our listeners can listen to this and say, okay, I'm got some passion around something, you know, a sport, a hobby of the place where I live, the town, the community, my religion, I've got a passion about something today. You could use modern tools like AI to go to chat GPT or another model. And you could say, what do people find most interesting about typing your hobby, whatever it is, it'll start to tell you about it. Then you could say, okay.
What I'd like to do is do a podcast or do one of these YouTube things and help me line out a series, give me nine or 10 topics that I could cover and chat GPT will answer that question. And I might say, well, the first one, you're going to talk about your local community and in that local community, we want you to talk about the restaurants. So you say, okay, chat GPT, what should I say about restaurants? It'll produce that content for you. And then you could go on and you could come up to YouTube. could take your iPhone out. You can set it up and start saying, I'm starting my new program here on YouTube.
I'm going to talk about where I live, the community, why I love it, why it's a great community. And I'm going to do a dozen episodes here over the next month. I hope you all enjoy it. And by the way, here's episode one and you literally all of the basics of the content could be created on chat GPT. And then you could project it. You could use it. You could read it, but you might probably want to go beyond reading it. You'd want to add some of your own color, some of your own thoughts to it. So as you said, man, it's bringing together the fact that we have all of this technology.
we can do the creation and then because you're not on a schedule. people today, I think we forget that way back in the 1970s and 80s, if you wanted to watch a television program, you had to watch the television program. It came on Wednesday at eight o 'clock. That was it. Well, you then we've got VCRs and we've got other kinds of recorders and we got to where we could time shift all this stuff. And now we don't even think of it that way. You know, you just go around, you want to watch a program, you watch it when you want to watch it, right? Well, again, time shifting. Now what we're saying is you've got
technology to the extent you need help with editing, production, writing. You've got gig workers that can help you with that. And then you make it available for people to watch whenever they want to watch. That's what YouTube lets people do, right? You don't have to feed it to a specific time so that people would try to watch it. So this is where we see the merging of these trends in a way that creates new opportunities. And, you know, I heartily say to anybody listening to this, if you're passionate about something and you want to give it a try,
Adam (23:35.497)
It literally costs you nothing. You can literally get out there and get started trying to do this and see if anyone else cares about it. You you might find out that if you started doing a show about your community, the people in your community would care. And then they would want to be part of your show. And then maybe the people in a larger area around you, like your state would care. Or perhaps if there's a particular industry that dominates your community, that industry would care, right? And then this whole thing could start to grow. Now, the one thing I want to be also clear about on this is,
To the extent I've done any exploration around it, what I've learned is that you've got to be committed to it you got to put some time to it, right? It's not like you can do five and hope that you're a big winner. Mr. Beast has been at it for a few years. He's honed his approach and he's figured out what really is interesting to people and he's constantly scanning the horizon. And so I just heard a statistic, the average standup comedian takes 10 years from when they commit themselves to the occupation and they're working their day job at the same time.
Manny (24:11.832)
Yeah.
That's the end.
Adam (24:32.481)
until they probably make it onto a show like, you know, an evening, a late night talk show, something like that. It's 10 years. Okay. Now that's 10 years where they're constantly going in front of audiences, telling jokes, trying to figure out what's funny, what's not funny, how to deliver all the skills of the trade. The thing about YouTube is you could go make YouTube videos, put them up. And if people watch them, you know, you're hitting. And if people don't watch them or they shut them off, say 30 seconds in, you know, that's not working. You can accelerate your ability to develop the talent.
And so I did notice that there's a lot of comedic shows out there, whereas dialogues like You and I, Manny, two people talking about the world. But then they do it from a comedic point of view. So the react, what I'm getting at again is just that you can, if you want to do it, you can do it. It doesn't cost a of money to do it. And you may find an audience, but you might also need to be aware that you might have to work at this for three, four or five years. But if you were ready to work at it for 10, that's a wonderful thing. Right.
Manny (25:30.764)
Yeah. Yeah. And what's interesting is some of the kids now are wanting to grow up to be YouTube influencers. I remember my son when he was in fifth grade, I think my younger son, he wanted to be a YouTuber when he grew up. And I found that fascinating because it wasn't as big as it is now. And he was already thinking about it back in the day.
Adam (25:31.425)
So.
Adam (25:39.797)
Yeah.
Adam (25:54.507)
So I think most of our listeners know that I have an MBA from Harvard Business School. And so I get the Harvard Magazine. It doesn't cost me anything. It comes out every two months. And I was astonished to learn last year that there's actually people who, when they are in college and they decide, I'm sorry, when they're in high school and they decide they want to apply to one of these private academic institutions, Harvard, Princeton, Yale, those kinds of places, they would start to record themselves in high school as juniors.
what they're doing to try to prepare and then prepare for the tests and get the materials together and everything to try to get into an elite school. And they would put out these podcasts and they were so successful. So then if they got into an elite school, their podcasts would be inundated. People would want to watch all these podcasts. What did Cheryl do? What did Jimmy do in the process of getting themselves admitted to an elite school? And then when they were there, then people were curious, well, what's your first year like?
What are you going through? What's your experience in your first year at this elite school? And they had developed followings in the tens of thousands of people and they were getting revenue from it. So they're just talking about their life as college students, but it was in an area that people had a lot of interest. There was, you know, probably a few million people that would like to go in high school who would like to go to an elite college. And so they're reaching out. How do I find out more?
Manny (27:03.288)
Yep.
Adam (27:15.167)
And the old days, it was very difficult to find out what it's like to get the pieces together for an application. And even more difficult to understand what you're going to be like your first or second year there. Now it's available on YouTube. So there's these niches out there. so I was, you know, like, for example, if you wanted to watch television about the life of being a black person in United States, YouTube's got a whole lot of content around that. Being a Latino in the United States, being just a Spanish speaking person in the United States.
There's a lot of content in those areas. And I think my favorite is cats. It turns out that people love to watch cats on YouTube. And so there are folks that go take and set up a camera that watches their cat and they will make a three hour video of their cat lounging around doing whatever. Then they put it on YouTube. And then there are people who find this comforting in some way.
Manny (28:11.351)
Yeah.
Adam (28:11.867)
They turn on the television, they put it on this thing and they just let it run for three hours. Now, I don't know, maybe they're doing the dishes, maybe they're cooking dinner, maybe they're in and out of the house, maybe they're working, maybe they got a job and they're sitting there working away on the computer and they just like to look over at the television and they see a cat show being on. It runs for three hours, but that's a viewer. And these people putting cat videos up are getting on audience and they're getting paid for it. So it's, it's when these new opportunities show up, what always strikes me is that there's
Manny (28:31.469)
It is.
Adam (28:40.831)
So few people that jump into it. And this is one that's available to everybody in a way that, you know, if it really interests you, I just can't say anything more than go for it, man, because it's a chance to try to make some money.
Manny (28:53.62)
Absolutely. And I think it's a matter of entertainment. There's also education. We were replacing a light bulb the other day in my kid's car and we couldn't figure out how to do it. So I said, look on YouTube. Sure enough, there was a guy that was walking through the process of how to change your headlights on his car. You know, so I think there's a lot to be said there, Adam, and I definitely appreciate the conversation. And we'll definitely be watching. We have a YouTube channel as well, by the way, if you're
You might be watching this on YouTube or you might be listening to this on Spotify or Apple podcasts or even on our website. So we have lots of different mediums. We also do have a YouTube channel or you know, at spark at the spark partners is the handle. Go check us out if you're just listening to us. If you want to see our pretty faces. So with that, Adam, we'll talk to you next week.
Adam (29:42.547)
It's been a blast, Manny, and I look forward to seeing you win an Emmy someday.
Manny (29:46.285)
Very good, Adam. Thank you. Cheers.