{"product_id":"cogentco-five-forces-analysis","title":"Cogent Communications Porter's Five Forces Analysis","description":"\u003cdiv class=\"pr-shrt-dscr-wrapper orange\"\u003e\n\u003csection class=\"pr-shrt-dscr-box\"\u003e\n\u003cdiv class=\"pr-shrt-dscr-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Magnifier-Icon.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eElevate Your Analysis with the Complete Porter's Five Forces Analysis\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"pr-shrt-dscr-content\"\u003e\n\u003cp\u003eCogent Communications faces intense competition from larger fiber providers, moderate buyer power from enterprise and carrier customers, limited supplier leverage for backbone capacity, low threat of substitutes for high-bandwidth services, and a moderate risk of new entrants due to capital intensity; this snapshot highlights strategic pressure points and operational strengths. Unlock the full Porter's Five Forces Analysis to explore Cogent’s competitive dynamics, market pressures, and strategic advantages in detail.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter green\"\u003eS\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003euppliers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper green\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDependence on hardware vendors\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCogent relies on few suppliers for high-capacity routers and optical gear, so vendors like Cisco Systems and Juniper Networks exert strong leverage given proprietary tech and limited substitutes.\u003c\/p\u003e\n\u003cp\u003eIn 2024 Cogent spent about $260 million on capital expenditures; a 10% vendor price rise or supply delay could add ~$26 million to capex and push maintenance costs higher.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eFiber infrastructure and right-of-way access\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eCogent owns ~82,000 route miles globally but still leases dark fiber and conduit from third parties and municipalities; in 2025 average metro dark fiber lease rates rose ~6% YoY, pressuring margins. In cities like New York and London, incumbents controlling right-of-way can hike access fees or restrict entrances, forcing reroutes that add CapEx and delay expansions. This dependence on external physical pathways concentrates supplier power and raises network rollout risk for Cogent.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEnergy costs and utility providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eAs a Tier 1 provider with 100+ data centers and 80+ points of presence, Cogent Communications consumes large-scale electricity, making utilities a key supplier. Utility markets often act as local monopolies or regional oligopolies, so Cogent has limited rate-negotiation power and faces supplier-driven price risk. Late‑2025 energy price swings—electricity up ~18% YoY in key US markets—compressed colocation and transit margins; energy now represents an estimated 6–9% of operating expenses. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-green-section\"\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eReal estate and colocation space providers\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eCogent relies on carrier-neutral colocation to house routers and cross-connects; consolidation—like Digital Realty and Equinix controlling ~40% of US wholesale REIT supply in 2024—shrinks partner options and raises landlords' leverage on rents and buildout timelines.\u003c\/p\u003e\n\u003cp\u003eAI-driven demand pushed vacancy for premium wholesale cages below 5% in major metros by Q4 2024, tightening availability and letting providers charge higher power and density premiums that raise Cogent's operating lease cost and switching friction.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eCarrier-neutral concentration ~40% (Digital Realty, Equinix) in 2024\u003c\/li\u003e\n\u003cli\u003ePremium vacancy \u0026lt;5% in top metros Q4 2024\u003c\/li\u003e\n\u003cli\u003eHigher power\/density fees raise colocation Opex and switching cost\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-green-section4\"\u003e\n\u003cdiv class=\"title-row-green-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eAcquisition of legacy infrastructure assets\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-green-section blur_box\"\u003e\n\u003cp\u003eFollowing Cogent’s integration of T‑Mobile’s Wireline in 2024, Cogent now shoulders maintenance of legacy infrastructure that needs niche parts and specialized technicians; industry data shows aftermarket prices for some obsolete components rose 15–30% in 2024.\u003c\/p\u003e\n\u003cp\u003eDependence on a small supplier pool raises bargaining power of suppliers, risking higher OPEX and repair lead times; Cogent reported capitalized maintenance costs up 9% in FY2024 related to acquired assets.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003eLegacy parts price increase: 15–30% (2024)\u003c\/li\u003e\n\u003cli\u003eCogent maintenance OPEX\/capex rise: +9% FY2024\u003c\/li\u003e\n\u003cli\u003eSmall supplier base → higher supplier leverage\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Suppliers-Box-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eSupplier concentration, rising costs squeeze margins—capex \u0026amp; opex pressure\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eSuppliers hold strong leverage: few router\/optical vendors, concentrated colocation (Digital Realty, Equinix ~40% 2024), utility regional monopolies, legacy parts +15–30% (2024), CapEx sensitivity (~$260M CAPEX 2024; 10% price rise ≈ $26M). Result: higher OPEX, longer repair lead times, and margin pressure.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003e2024\/2025\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eCAPEX\u003c\/td\u003e\n\u003ctd\u003e$260M (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eColocation share\u003c\/td\u003e\n\u003ctd\u003e~40% (Digital Realty, Equinix, 2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eLegacy parts price rise\u003c\/td\u003e\n\u003ctd\u003e15–30% (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eElectricity change\u003c\/td\u003e\n\u003ctd\u003e+18% YoY (late‑2025)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_orange\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-includes\"\u003e\n\u003ch2\u003eWhat is included in the product\u003c\/h2\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Word-Icon.svg\" alt=\"Word Icon\"\u003e\n\u003cstrong\u003eDetailed Word Document\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eTailored exclusively for Cogent Communications, this Porter's Five Forces overview uncovers competitive pressures, buyer and supplier leverage, entry barriers, and substitute threats to assess pricing power and long-term profitability.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"plus-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Plus-Icon.svg\" alt=\"Plus Icon\"\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-includes\"\u003e\n\u003cdiv class=\"title-row-includes\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Excel-Icon.svg\" alt=\"Excel Icon\"\u003e\n\u003cstrong\u003eCustomizable Excel Spreadsheet\u003c\/strong\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-includes\"\u003e\n\u003cp\u003eClear one-sheet Porter's Five Forces for Cogent Communications—rapidly assess competitive intensity and spotlight relief strategies for pricing, churn, and fiber capacity constraints.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-2_new_design\"\u003e\n\u003cdiv class=\"frst_big_letter_heading\"\u003e\n\u003ch2\u003e\n\u003cspan class=\"frst_big_letter_letter orange\"\u003eC\u003c\/span\u003e\u003cspan class=\"frst_big_letter_text\"\u003eustomers Bargaining Power\u003c\/span\u003e\n\u003c\/h2\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-wrapper orange\"\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eLow switching costs for IP transit\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eWholesale customers and large enterprises commonly multi-home for redundancy, letting them reroute traffic off Cogent quickly if rates or latency worsen; industry surveys show over 60% of enterprise backbone links are multi-homed as of 2024. \u003c\/p\u003e\n\u003cp\u003eIP transit is commoditized—buyers focus on price and latency; Cogent faced an average revenue per Mbps decline of ~4% annually into 2024, reflecting buyer price sensitivity and easy switching. \u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003csection class=\"sub-highlight-box\"\u003e\n\u003cdiv class=\"sub-highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eConcentration of large wholesale clients\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"sub-highlight-content\"\u003e\n\u003cp\u003eA significant share of Cogent Communications revenue—about 28% of service revenue in 2024—comes from large service providers and content delivery networks, concentrated customers with deep market knowledge. These buyers push for lower per-megabit pricing by leveraging massive traffic volumes; Cogent reported average bandwidth sold per customer north of 10 Gbps for top accounts. Their ability to shift to Tier 1 carriers keeps Cogent’s bargaining power low and compresses margins.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-2_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Image.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003ePrice transparency in the bandwidth market\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eThe IP transit market shows high price transparency: industry benchmarks (e.g., median US backbone transit price fell ~22% from 2020–2024 to about $0.40\/Mbps\/month per Telegeography data), so Cogent Communications (NASDAQ: CCOI) struggles to charge meaningful premiums over peers. Corporate procurement uses published rate grids and RFP portals to pit providers during renewals, driving churn and compressing Cogent’s gross margins (Cogent reported 2024 gross margin ~40%).\u003c\/p\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"product-orange-section\"\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eDemand for bundled telecommunications services\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eEnterprise demand for bundled telecom services (internet plus voice, mobile, security) gives customers leverage; 2024 surveys show ~62% of North American enterprises prefer integrated vendors for simpler billing and SLAs.\u003c\/p\u003e\n\u003cp\u003eCogent’s pure-play IP transit model leaves it exposed: buyers needing bundles can choose diversified incumbents (AT\u0026amp;T, Verizon, Lumen) with broader stacks, pressuring Cogent to compete on price and margins—Cogent reported 2024 gross margin ~55%, smaller than bundle-heavy peers.\u003c\/p\u003e\n\u003cp\u003e\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e62% enterprises prefer bundles (2024)\u003c\/li\u003e\n\u003cli\u003eCogent 2024 gross margin ~55%\u003c\/li\u003e\n\u003cli\u003eBundled incumbents offer cross-sell advantage\u003c\/li\u003e\n\u003cli\u003ePrice competition increases churn risk\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"product-box-orange-section4\"\u003e\n\u003cdiv class=\"title-row-orange-section\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-2.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eEnterprise budget constraints and economic cycles\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"content-row-orange-section blur_box\"\u003e\n\u003cp\u003eIn 2025, tighter corporate IT budgets and cautious capex during the 2023–25 slowdown mean RFPs are stricter, driving buyers to seek efficiency and consolidate vendors for volume discounts; 42% of CIOs in a 2025 survey said vendor consolidation cut costs by 15–25%.\u003c\/p\u003e\n\u003cp\u003eThat consolidation gives buyers leverage to push for stronger SLAs at lower rates—Cogent faces pressure to match or beat peers on latency and packet-loss guarantees while protecting its 2024 revenue of $1.02B and 30% gross margin.\u003c\/p\u003e\n\u003cul class=\"lst_crct\"\u003e\n\u003cli\u003e2025 trend: 42% of CIOs cite consolidation\u003c\/li\u003e\n\u003cli\u003eTypical savings sought: 15–25%\u003c\/li\u003e\n\u003cli\u003eCogent 2024 revenue: $1.02B; gross margin: ~30%\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003c\/div\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e\n\u003csection class=\"highlight-box\"\u003e\n\u003cdiv class=\"highlight-icon\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/5FORCES-Content-Customers-Cart-Icon-Color-1.svg\" alt=\"Icon\"\u003e\n\u003ch3\u003eCommodity IP transit, razor margins: buyers multi-home, prices ~$0.40\/Mbps, $1B market\u003c\/h3\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"highlight-content\"\u003e\n\u003cp\u003eBuyers have high leverage: multi-homing \u0026gt;60% (2024), IP transit commoditized with ARPMbps down ~4%\/yr to 2024, top customers ~28% revenue with \u0026gt;10Gbps each, price transparency cut median US price ~22% (2020–24) to ~$0.40\/Mbps\/mo, 2024 revenue $1.02B and gross margin ~30%, 2025 CIO consolidation 42% seeking 15–25% savings.\u003c\/p\u003e\n\u003ctable class=\"tbl_prdct green_head blur_tbl\"\u003e\n\u003cthead\u003e\u003ctr\u003e\n\u003cth\u003eMetric\u003c\/th\u003e\n\u003cth\u003eValue\u003c\/th\u003e\n\u003c\/tr\u003e\u003c\/thead\u003e\n\u003ctbody\u003e\n\u003ctr\u003e\n\u003ctd\u003eMulti-home rate (enterprises)\u003c\/td\u003e\n\u003ctd\u003e\u0026gt;60% (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eARPMbps decline\u003c\/td\u003e\n\u003ctd\u003e~4%\/yr to 2024\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eMedian US transit price\u003c\/td\u003e\n\u003ctd\u003e~$0.40\/Mbps\/mo (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eTop-customer revenue share\u003c\/td\u003e\n\u003ctd\u003e~28% (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCogent revenue\u003c\/td\u003e\n\u003ctd\u003e$1.02B (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCogent gross margin\u003c\/td\u003e\n\u003ctd\u003e~30% (2024)\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003ctr\u003e\n\u003ctd\u003eCIO consolidation\u003c\/td\u003e\n\u003ctd\u003e42% (2025), target savings 15–25%\u003c\/td\u003e\n\u003c\/tr\u003e\n\u003c\/tbody\u003e\n\u003c\/table\u003e\n\u003cbutton class=\"get_full_prdct_green\" onclick=\"get_full()\"\u003e\u003c\/button\u003e\n\u003c\/div\u003e\n\u003c\/section\u003e\n\u003cdiv class=\"container_new_design\"\u003e\n\u003cdiv class=\"text-section text-1_new_design\"\u003e\n\u003ch2\u003e\n\u003cspan style=\"color: #3BB77E;\"\u003eFull Version Awaits\u003c\/span\u003e\u003cbr\u003eCogent Communications Porter's Five Forces Analysis\u003c\/h2\u003e\n\u003cp\u003eThis preview shows the exact Cogent Communications Porter’s Five Forces analysis you’ll receive immediately after purchase—no placeholders or samples; it’s the fully formatted, ready-to-use document that will be available for instant download upon payment.\u003c\/p\u003e\n\u003c\/div\u003e\n\u003cdiv class=\"image-section image-1_new_design\"\u003e\n\u003cimg src=\"\/cdn\/shop\/files\/GENERAL-Explore-Preview.svg\" alt=\"Explore a Preview\"\u003e\n\u003c\/div\u003e\n\u003c\/div\u003e","brand":"MatrixBCG","offers":[{"title":"Default Title","offer_id":56746759061881,"sku":"cogentco-five-forces-analysis","price":10.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0911\/3554\/1625\/files\/cogentco-five-forces-analysis.png?v=1772191584","url":"https:\/\/matrixbcg.com\/products\/cogentco-five-forces-analysis","provider":"MatrixBCG","version":"1.0","type":"link"}