MarketWise, Inc. (NASDAQ:MKTW) Q4 2022 Earnings Call Transcript

Lee Harris: Yes. Just to add a little more color to that. If you look at, if you break our subscribers into the, into certain pieces, right? We have a, a segment of membership subscribers. We have more membership subscribers right now than we’ve, than we’ve ever had, and the amount of money that those people spend is as high as it’s ever been. So those loyal subscribers keep, keep spending. It is really, to echo what Jon said, it’s, it’s how do you get the new subscribers from the first subscription, which generally is going to be a hundred bucks for a year to the next subscription, which there, there could be a wide range there, but in many cases you’re talking about $2,000, right? So in this kind of time where people are, are not like super excited about pulling out the wallet and charging $2000, naturally, it’s going to take longer.

So I think we believe that once we get a little bit of positive momentum with the economy, we’re going to get right back to that pattern and, and our sales firm will work just as it always has in the past.

Alex Kramm: All right. I appreciate the color. That’s it from me. Thanks.

Lee Harris: Thanks.

Amber Mason: Thank you.

Operator: There are no further questions in the queue. I’d like to hand the call back to management for closing remarks.

Amber Mason: Thank you everyone for being here. It was a pleasure to be here with all of you, and I look forward to next time. Have a great day.

Operator: Ladies and gentlemen, this does conclude today’s teleconference. Thank you for your participation. You may disconnect your lines at this time and have a wonderful day.