Mark Zgutowicz: Thank you. Craig, a high-level question, and then Jen, just a follow-up on the subscription business. In terms of — Craig, you talked about execution as a priority, and I’m curious, it obviously starts with the bar that’s set. I’m curious if your current guidance reflects sort of a worst-case scenario at the low end, which I think helps fulfill that execution priority. And then, Jen, on the subscription business, I was just wondering if you could perhaps share what — or quantify what the mix of subscription is within creative and editorial separately. And then, you’re obviously seeing some strong absolute subscription growth, but you’re not seeing it on the revenue side and your ARPS is down 40%. So subscription grows 100%, ARPS is down 40%, to us means that premium access isn’t quite scaling perhaps as fast as you’d like. So, if you could maybe touch on what sort of may turn that around as well.
Craig Peters: Thanks for the question, Mark. So, I’ll take the first and then can let Jen respond to the ARPS and subscription question. So, I would say that we’ve taken a conservative view to the second half with respect to guidance. We would certainly hope from an execution standpoint that we beat the bottom end of that. I think — again, my view is there are opportunities out there. They take a little bit longer in this environment. They take us being a bit more proactive. We’re going to have to backfill for some of the macro elements and — that we talked about in the strike. But there’s clear demand for our content. We’re seeing, again, increased commitment in that tells us that customers are satisfied with our solution.
We’re seeing increased downloads. So our downloads in the quarter were up 1% year-over-year. So, we’re seeing signs that there are opportunities there. We just need to up our game and execute better over the second half in order to hopefully step over the bottom end of that guidance and beat. And then, Jen, do you want to just pick up on the subscription side of things and the ARPS and really the e-commerce elements to that?
Jen Leyden: Yes. Hi, Mark. How are you? So in terms of the mix of creative and editorial, both are north of 50% in annual subscription. On the subscription side and you’re probably looking more specifically at our active annual subscriber metric, so continued phenomenal growth in that metric. We’re up to that 182,000 annual subscribers, over 104% growth from the LTM period. You’re correct in pointing out what we’re seeing there, which actually will take and make this trade all day every day, we’re actually seeing some impressive new customers coming on to subscriptions. We’re seeing a lot of growth in some of those smaller e-commerce subscriptions. So that could be both new customers, that could be customers who were previously consuming à la carte or monthly on iStock that we’re getting into those smaller annual subscription products.
Importantly, we’re also starting to really make some traction in some of our growth markets, specifically LATAM, APAC, EMEA. We’re driving actually new subscriptions in those markets. And you might remember, we’ve talked about geographic expansion being one of our key growth levers. So, we’re excited to see that we’re tapping into those markets, and we’re doing it with annual subscription. So, we’re really happy with this metric and the growth that we’re seeing. You mentioned PA. PA continues to be well over a third of our revenue. We’re not seeing any deterioration there. We continue to see growth in PA, which is our largest subscription, largely in our enterprise customers, larger customers. We still have growth there as well, and we have opportunity to continue to expand premium access as well.
