quarterly earnings report, the show welcomes Raymond James Managing Director Pavel Molchanov. He offers insights into how the transformative powerAnd now it's market domination over time.So let's start with where the major averages ended up here.We had the dow up just about 1/5 of 1% near the highs of the session here in the S and P 500 up about a quarter of a percent.
I guess, first of all, just big picture is this the correct conclusion that people should be drawing here? Uh That being said, that kind of growth we're looking at is, you know, between two and 3% a year, right?That is a big change from virtually no growth since 2007.
Let's take a closer look now at what led to Nvidia's boom with beyond the ticker where we dive to the company's biggest moments. And analysts have told me this is a big play to combat against churn, which is basically a practice of people signing up for a service and then immediately canceling it. And now with sports too, I mean, we have the upcoming sports joint ventures streaming bundle with Warner Brothers, Discovery Fox and Disney.
It is always good to see you and maybe uh Mark, listen, I I'm always interested to kind of start high level, get your kind of general take mark on just the online ad market.
Um And we're especially seeing growth in areas like retail media networks where we continue to grow over 40% last quarter, uh social uh which grew percent for us last quarter. So that's interesting mark just to kind of double tap on what Julie is talking there because it did sound like you guys were projecting slower growth.
Um Something else that, that caught our eyes, a recent report in the Wall Street Journal that talked about marketing budgets overall getting cut back even as ad spending still seems to be ok. So I think we're gonna have AAA multitude of, of different tailwinds starting to hit the ad space over the next several quarters.Um You were one of the companies that was um named as a partner as they forge ahead with their ad supported strategy.So we've been working with Netflix since their launch of the ad supported uh tier back in October 2022.
Um And in this case with Netflix, you know, we shared data with them and work with data with them around how attentive or how much attention uh Netflix programming was driving.Um You know, as the C TV, streaming wars continue to heat up, particularly the ad supported C TV, streaming wars.We start off on the earnings front.
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