But you should assume that we are looking at revenue growth rates slightly above where the company growth rates are. So we had — let’s say, low to mid-teens is where we are looking at Bumble app guidance. We’ll talk more about the components of what this means in terms of payers versus ARPPU, et cetera. But I will just say that growing payers will continue to be a big focus for us for next year. And then Badoo will also be a truly strong contributor for revenue next year, Badoo App and Other line items. And then finally, on EBITDA, we are very committed to margin expansion as we’ve been saying now for a while. We’ve given preliminary guidance of expanding margins by about 50 to 100 basis points. We still haven’t fully finalized all the areas of investment.
And so we want to make sure that we are adequately providing for things that Whitney just talked about in terms of investment in AI, investment in data, et cetera. But our commitment to expanding margins hasn’t changed. So again, we’ll provide more specifics. But at a high level, these are sort of the building blocks of how we are thinking about next year.
Operator: Your next question comes from Ygal Arounian with Citi.
Ygal Arounian: I wanted to see if we could tie together some of the guidance with the changes here. And so I know you talked about in the 2024 preliminary outlook building on the leadership plan, you’re finalizing your investment priorities, still a ton of focus around product, obviously. And then with Lidiane coming on board and with you moving to the Executive Chairman, how do you think about those investments? What are the — any change in strategies? Are you kind of putting things on pause? How are you going to make that transition? Just help us understand how all that will flow through.
Anu Subramanian: Yes. So at a high level, I think our strategy that we’ve been following has been largely consistent with what we started out with when we first went public, right? As you think about the building blocks that we have for growth haven’t really changed for us. And as Whitney mentioned earlier, focus on innovation, focus on customers and focus on brands is something that we’ve been very consistently been doing. And we don’t expect that, that changes next year either. I think obviously, with Lidiane’s background in product and tech, we definitely think that, that will be an area of investment for us. We want — and again, not dissimilar to what we’ve been saying for the last few years. That is what drives our engine.
So I think you’ll see us continue to talk about that. And then obviously, as she comes in and ramps up on the business, I’m sure she’ll have very strong ideas of the things that she wants to do. So that’s why I think some of this will be fluid for us as we get into next year. But as you think about our high-level guidance, we wanted to make sure that we gave everyone at least guardrails that you can operate with going into 2024. So that was really the attempt at giving a very high-level guidance for next year.
Operator: Our next question comes from Shweta Khajuria with Evercore ISI.
Shweta Khajuria: Let me try 2, please. One is just a quick thought on why no repurchases in the quarter? And then second is, could you provide more color on the 2 product subscription tiers, please, the one that’s lower priced in terms of the timing, the pricing and the rollout for both plans, please?
Anu Subramanian: Yes. Sure, Shweta. Just quickly on why we didn’t buy back any shares. We were in the market in the middle of a leadership search. We were unable to buy shares just for legal considerations. So that was the reason why we didn’t — we weren’t able to buy shares. And I’ll turn it to Whitney for the product.
Whitney Wolfe Herd: Yes. Thanks for the question. So let’s talk about the 2 different subscription tiers. We’ll start at Premium Plus. We are really excited about Premium Plus. I want to underpin this by saying that it has actually been largely one of the most requested features in and of itself that we have received over a long time now because it delivers a more curated, more high intent, more, we could say, thoughtful experience, right? You have a better chance of a match. And there’s a lot of other layers that come with this Premium Plus experience. We’ve been really pleased with the very early indicators and the early results we’re seeing. So you can expect an update in the coming quarter. And then moving to base tier, this is really focused on the different types of engagements and the more personalized experience that particularly Gen Z enjoys.
So the way, call it, 18- to 22-year-olds are looking to express themselves — on themselves is actually quite different than the older cohorts, even their peers just a few years older. And we are so good at listening being on the ground and understanding what this age group is really looking for when it comes to meeting people. And so that’s what base tier is all about. It is in early testing right now, and we don’t have specific timing or pricing to share publicly today, but I can tell you that it will be a low price point. This is really with the intention of expanding payers and creating a more engaging experience for that next generation. Meanwhile, on the other side of that barbell, Premium Plus will be a much more premium experience than that, obviously, and more premium to the current premium offering.
And we believe that the blend of this will be protective to ARPPU while expanding payers.
Operator: Our next question comes from Justin Patterson with KeyBanc Capital Markets.
Justin Patterson: Great. I wanted to touch a little bit on Badoo. You had mentioned doing a brand identity — brand and identity refresh to start next year. How are you thinking about just the timeline toward that helping really restore user growth and revenue growth for Badoo into 2024?
Whitney Wolfe Herd: Thanks for the question. So you know what, we’re really excited about Badoo. We have a great team leading Badoo, and they are really anchored on one key focus: build confidence. So this is a quite remarkable finding. If you go and speak to the Badoo audience prior to some of these efforts that we’ve been leading that have been leading to the results you’re seeing that we reported today and what we expect to continue, these members say that they want to find someone. They’re lonely. They really have high intent to meet someone, but they have super low confidence. They don’t feel great about themselves when it pertains to dating and how they think they’ll be viewed. And so the team has anchored 100% around that.
