So, I don’t know that I would conclude that it’s going to be a significant drain on our profitability prospects. And I’m thinking about programmatic, did that happen faster. I mean, AI has definitely been part of the business for a while or certain parts of AI. And then the first question, I would say, it’s not a trend that we haven’t observed for some time. So, I would say that on the creative side of the business, things have become, in many cases, more project driven than a very, very kind of traditional model that would have existed years ago around kind of AOR. And there’s still significant value and creativity, but I think you want to focus on where you’ve got very, very strong players in that space. And I think, as you called out, many of the large holding companies index heavily into some of those traditional assets.
And so, in a fragmented media ecosystem, creative ideas matter a lot. I look at the success we’re having with FCB, which is a traditional agency, but it’s a very forward-thinking management team, and they have figured out a way to plug into the data layer for insights and to get very precise in setting goals for what they’re trying to accomplish with their clients, and then it’s integrated with other disciplines, in their case, very strong production. So, if you’ve got great content and it’s part of a bigger system, and then you’ve got smart delivery, that works pretty well. So, I think these days, clients want both. They’re sort of asking for brand and performance which doesn’t quite get to the question that you asked for the suggestion, which is, is there a point at which people abandon that because I think that’s a dangerous thing as well.
Operator: Our next question is from Julien Roch with Barclays. You may go ahead.
Julien Roch : Just one question. Omnicom’s guided to 3.5% to 5% provision is 4% to 5%, you 1% to 2%, so let’s call that a 3-point difference. Can you unpack that difference between the digital specialist those tech and telco net account wins and anything else I did not think about? So, you said flat on account wins, but provision and Omnicom will benefit from account wins. So, I don’t know, 50 basis point or 100 basis point on that. But what about the drag from digital specialist exposure to tech and anything else I didn’t think about? Thank you.
Philippe Krakowsky: I can’t tell you what is in their numbers. And obviously, we’re comparing things that are not exactly alike based on the accounting. I think the media buying capability that we’re talking about adding mail, so account for some of that delta but if I look at the entirety of ’23, I can tell you that tech and telco cost us 2.2% of organic growth and the digital specialist cost us about 1.2%. And if you deduplicate that so that you’re not double counting, that cost us 3 percentage points of growth, right? So again, I can’t go into what is in their numbers, and I don’t think that they’re exactly comparable. I took to the point of the very first question, I wanted to be very sort of direct and transparent and pull apart for you all how we built our view to the year.
And then to your question, I think that is it like-for-like? Is a question? We have a terrific media offering, but we were perhaps a different approach and a focus on efficiency means that there’s an opportunity there for us because that may be part of the gap. And then hopefully, the numbers I just shared with you fill the rest of the gap.
Operator: And that was our last question. I’ll now turn it back to Philippe for any final thoughts.
Philippe Krakowsky: Thank you. Well, thank you, Sue. Thank you all for your time, and we will stay focused on the work that needs to get done here because to the point of a number of the questions, we definitely have to get back to things that have been the norm for us for a long time. And I think this is going to be a year where we can finish some of the transformations that are required to do that. So, I appreciate the interest and the time.
Operator: Thank you. And this concludes today’s conference. You may disconnect at this time.
