Matthew Goldberg: I loved the question about the Experiences opportunity. And you talked about Experiences and Dining, really Experiences is proving out what we’ve talked about as being able to diversify Tripadvisor and take advantage of marketplace economics and really think about how to match supply and demand. And so the $180 million incremental experience shoppers that I mentioned is an example of that, really understanding why our audience comes to our site. And when we have that kind of scale, being thoughtful about how we leverage data, understanding identity and really leading them on the path that they are there to transact on or search for that next opportunity. And so that’s going to drive, I think, meaningful upside.
Now today, we’ve proven it out largely through the relationship with Viator, and we’re really excited because Tripadvisor offers this really broad guidance platform. And of course, Viator offers this deep well of opportunities, deeper than anywhere else you can find. And being able to bring those two together has driven tremendous growth, and we are finding new and different ways for those to — businesses to work together to really drive that growth. But at Tripadvisor, there is an opportunity to bring in more inventory to think about matching by geography, by category and maybe even categories that Viator doesn’t represent today that we can find elsewhere is something we can do. And that will drive significant upside for a long time to come.
I also think you’re right. As we think about engaging our highest-value audience as members and increasingly on our mobile app, the cross-sell of wanting to do a full itinerary starting with generative AI and identifying that thing that is most relevant and being able to make it happen right there in the app, gives us tremendous cross-sell opportunities and the opportunity to create tremendous value through that relationship. As I said, I think over the last year, we’ve articulated this from the start. Quarter-by-quarter, we’ve said what we’ve done in product the proof points, the indicators that, that engagement can happen. And I think you are seeing the emerging view of what this strategy can do to drive the diversification of Tripadvisor.
So thanks for the question. We’re really excited about it.
Brian Fitzgerald: And if I could, real quickly, as a follow-up because you both mentioned they were — we’re using data and AI to pursue high-quality versus low-quality traffic. And so we’re informing ourselves in that regard. And then Matt, you just mentioned, hey, we’re using data to better match and to cross-sell. Could you really quickly assess your current strength or how much runway we have in terms of, hey, we’re in the early days of taking data and applying it to both optimize our CAC or optimize our matching. Where are we on the spectrum of, hey, we’ve still got a lot of data that we’re not bringing to bear yet?
Matthew Goldberg: Yes. I mean it’s early days. Remember, when I first arrived, it was when we articulated the vision of — that we could do more with data. We proceeded to put a unified group data platform in place. We flowed all of our data into that. It now has over 3 billion profiles. And then we created the opportunity and the tools for all of the segments to leverage that data with the appropriate governance and privacy to begin to target. So it’s very early innings there. And we are using that same data asset and all — it’s not only identity, it’s behavioral data, click stream data, it’s the booking data where we have it. We have the ability to bring on second-party data now that we didn’t have before. And of course, a third-party data.
So we are beginning to get a data stack with the appropriate marketing tech tools to begin to target and to begin to use that in all areas of our product development and really that’s what allowed us to move quickly on putting AI at the center of it. And — because if you have a brand of our size and you have a set of content data and first-party behavioral data with your audience, you can create more relevance, more personalization, but it is early. These are not things that you do immediately overnight. These are things that stack quarter-by-quarter, and we’re in that process of stacking. So I think you’ll see us continue to progress that over time.
Operator: Our next question comes from Trevor Young with Barclays.
Trevor Young: Just on Viator, what are the 2 or 3 hurdles that keep new customers from coming back? And what steps are you doing to kind of retain those customers and get them to start behaving more like those repeat customers with more items per trip and higher price per item. Is it those efforts to just try to distill down to those higher-quality customers day 1? Is it going to be the loyalty program? Is it expanding the supply and better surfacing the right supply like you mentioned a couple of minutes ago?
Matthew Goldberg: Yes. Look, thanks for the question. I think Viator was on to this very early. The single biggest hurdle is that most of this transacting still happens offline. And so there’s an awareness that the category exists. When we talk to travelers, almost all of them would love to book a great relevant experience easily online. And then like 3/4 of those don’t even realize that the category exists. So we’re excited about the awareness that is rising for the category in general. And I think we’re excited that Viator is getting attached to it as we really leaned into that. The second thing is probably just giving them a really easy, smooth experience that works. And the Viator team has been on top of this. They’ve been focused on scaling their customer base, making the very first end-to-end booking, a trusted, valuable experience with a reason to return, creating the kinds of tools and relevance that make it a habit to come back to Viator.
And then, of course, on the other side, making sure that they create real value for operators through strategic programs. And we get excited when our operator counts are the largest in the industry, and we have multiples more product represented on our category. Because if we can figure out the sort and have the right data to match to somebody’s interest, that just means we’re going to do a better job and ultimately be the default choice not only for our partners, but also for consumers.
Operator: Thank you. I would now like to turn the call back over to Matt Goldberg for any closing remarks.
Matthew Goldberg: Thank you, and thanks again to everyone for joining us today. We made great progress in 2023. Our talented teams are focused on executing on clear strategies for 2024 and we look forward to the next update. Thank you.
Operator: Thank you for your participation. You may now disconnect.
