Jonathan Navarrete

Jonathan Navarrete asked about the trending of national (enterprise) advertising in Q1 and the second half of the year, and sought quantification of the expected benefit from the FIFA World Cup.

Answer

CEO Nick Brien discussed strong enterprise brand support from entertainment, beauty (L'Oréal), finance (Capital One), and tech (DoorDash, eBay, Duolingo). He confirmed the FIFA World Cup as a tailwind, with direct agreements in six host cities and ongoing conversations with priority sponsors, promising more detailed numbers on the next earnings call.

Jonathan Navarrete asked about the trending of national (enterprise) advertising in Q1 and expectations for the second half of the year. He also requested quantification of the anticipated benefit from the World Cup this year.

Answer

CEO Nick Brien highlighted strong performance from enterprise brands in entertainment, beauty (L'Oréal), finance (Capital One), and tech (DoorDash, eBay, Duolingo), noting the enterprise team's focus on both agency and direct business. Regarding the FIFA World Cup, he confirmed it's a tailwind with direct agreements in six host cities and ongoing discussions with major sponsors, promising more detailed quantification on the next earnings call.

Jonathan Navarrete asked about the expected dollar benefit from political advertising in 2026, how it compares to a presidential election year, and whether most of these benefits are anticipated in the third or fourth quarter.

Answer

CEO Sean Reilly confirmed that political advertising benefits typically break late, primarily in Q3 and Q4. He estimated an incremental political ad revenue of conservatively $12 million to $14 million for 2026 over 2025, noting that 2024 was a presidential election year with a larger delta.

Jonathan Navarrete asked about the expected dollar benefit from political advertising, how it compares to a presidential election year, and the anticipated timing of these benefits.

Answer

CEO Sean Reilly confirmed that political benefits typically materialize in the back half of the year (Q3/Q4). He noted that the difference between 2024 (a presidential year) and 2025 was less than $20 million, conservatively anticipating $12 million to $14 million in incremental political revenue this year over last year.