Hello, everybody and thank you for being with us again. Today Jorge Martinez, the Head of Publishers at Outbrain in Spain, is joining us to talk about consumer saturation and content. Thanks for being us, Jorge. Pleasure. We are very lucky today to have him because working in the biggest content recommendation platform in the online world, I think we can shed new light on the very difficult issue of competing for people's attention in this wild ocean of content. So very straightforwardly, Jorge, why don't we kick off our chart by asking you a very simple or not so simple question. How does Outbrain work around this feeling of I cannot read anymore? Yeah. Saturation. I can't find interesting things, etc. I think that first of all, within, about some features of the current situation, the readers of our society, it could be the proper communication. We are constantly, well, SMS we're receiving a lot of impacts, a lot of information during the day. Every minute or second? Where is my phone? Also multitasking. We are in different devices all the time and also we live in an ocean of immediacy of everything is now. So it's very difficult to get the message to the reader in these wide option. I mean, the cost of opportunities varies. It's huge. You receive a lot of impacts, so it's difficult to be the attention hunter to these readers. So if within a bad day, this challenge, it will be the important challenge that it's to be able to take the attention of the reader. Where is the attention? How could we miss with the attention? Attention is time. It's time. If I'm three hours in a social network or if I'm watching TV or I'm reading a book. So what is time? Time. Money? Time is life. What is time? Time is life, and what is life? Maybe this is a very difficult question or not. Well, but life is emotion. Life is our memories, the things that motivates ourselves. So life is the, The people we love, the places we've been, and the memories we keep. Yeah. If we close the circle, it would be like, if you want to take the attention of that reader, you need to link, you to connect these article, these contents, with the things that these people likes. If we are able to connect this interest of the reader with the things that motivate themselves. For this purpose like in almost any brand content effort. So the first step is knowing the audience. You do this, I believe for a very complicated algorithm and metadata, which enables you to understand immediately, millions of users. [inaudible] the same article, but probably there's going to be some stories, some content recommendation that could be very suitable for you, but not for me. That's the idea of trying to make this recommendation in a personalized way. Trying to make that personalization of contents in order to get the attention of each reader, for the digital paper. But it's true that now the cost of opportunity is very huge. There are a lot of different points of attention, there are a lot of message, the reader receive a lot of impacts, and the good brand content, the successful brand content is going to be that kind of stories that could connect the reader with their most important interests. People we assume, and there are many facts which support this statement. People tend to ignore online ads. Before, please respond. and then I. Yeah. The traditional advertiser, if you go maybe 10, 15 years ago, in the beginning of Internet, there were some very cool, do you remember the Pop-Unders? It was very aggressive advertisement. Absolutely. This advertisement right now, there's no more this practice of pa pandas and this format. It's all native now, supposedly. Well, not only native, but it's true that in the next years, it's necessary to be perceived by the reader. I mean, to be suitable for the readers, we need to create something that makes some engagement. I mean, trying to you cannot say this, the readers with very aggressive format, we need to tell them some stories, told them about the stories, the interests that they really appreciate. Because if we tried to do in an aggressive way, I mean, as maybe happened in the beginning of the Internet publicity when, 10, 15 years ago is going to be very hard to take attention because it's very easy to go to other story that could connect in a better way with you. The reason I have three different options to choose and in one way, I'm receiving a story. I'm interested in story about something that I really appreciate or I really like and in other way I have, buy, buy, buy. You have to buy this product. Why? What's the point? Yeah, it's not the way of communicating and I think that in the next year is going to be more focused on native brand content. Really good stories to make the engagement with the readers. Newspapers are your main focus of interest and Outbrain? Yes. Do you work a lot with newspapers? Do you foresee a time in the next 10 years in which online advertising may sustain newspapers? Well, that's a very good question. I strongly believe that journalism is one of the most important pillars of democracy. I couldn't imagine society without journalists. I think that we will read news, we will read papers. I mean, how is going to be this future paper, this data paper? Well, right now, there are some successful cases of some company, some data papers that are a 100 percent pure data, and where it really disruptive is trying to move on the model of paper, move these way of reading news that we have until now to a new data era. But the revenues there, how could they be profitable? Well, there are some cases, for instance, New York Times now, to subscribers, they are offering the crosswords service that they have a $7 per month, $40 per year, and they have half million subscribers or something like that. Maybe 10 years ago if within that New York Times was going to give this service and some people was going to pay. Yeah, it seem utopian. Yeah, I think that we have to be very open-minded because there are a lot of things to come in next years. But I think that papers are really important, are really necessary for a society. Journalism, journalists are going to be there and maybe the way of the readers get access to that news maybe it's different, maybe they create new ways of doing that, but there will be there. The end is also important, I think that was in the movie of the post you've seen. Let's say Katharine Graham, something like, I don't remember exactly, but it was something that the only way to do journalism of quality is with journalists of quality. I think at the end, we need journalism. Quality journalism is not cheap. Yeah, of course. That's why I agree completely with your thoughts here. One of the problems of our society is that people have suddenly come to understand that journalism is a badly paid profession and that's okay, and that it's all for free. We don't have time now to continue talking about this, but please stay with us because we want to use your knowledge a bit more. Perfect. Thank you very much. Thanks, Peter.