So, I think that should be encouraging for everybody.
Operator: The next question comes from Lauren Schenk of Morgan Stanley. Please go ahead.
Nathan Feather: Hey, everyone. This is Nathan Feather on for Lauren. Can you talk about the seasonality of Tinder marketing within 3Q and to what extent, if any, it impacted payer growth during the quarter? And then maybe taking a step back more broadly, how should we think about the lag time between marketing user growth and revenue growth? Thank you.
Bernard Kim: Thanks for the question. When we originally launched, it starts with a Swipe campaign, we planned to have multiple phases throughout the year. So, seasonally with Tinder, end of July, going into August tends to be slower months for Tinder. So, we took the opportunity between these phases to refresh the content for the balance of the year. It’s important to note that during this time period, we’re still targeting young women, and we did not see the same pullback in new users with this demo. We expect to take an overall step back in new users and have some impact of payers in Q4, which we’ve already articulated. We have learned a lot from this. I’m pushing the team now to have a consistent, steady beat on marketing going forward, especially in our larger markets.
In that time period, we’re also able to reallocate some spend into our college outreach marketing and the launch of our Matchmaker feature. Both of these campaigns integrated well-known rappers and targeted our Gen Z demographics was closely knit in with product innovation at the same time. As you can all see, these campaigns have created a tremendous amount of buzz and excitement around the product and are a key part and ingredient to retelling the Tinder narrative. Thanks for the question.
Operator: The next question comes from Ygal Arounian of Citigroup. Please go ahead.
Ygal Arounian: Good morning, guys. What’s about Tinder Premium and early signage sheets in that? And then what contribution is expected in booking 4Q and in the preliminary outlook for next year?
Bernard Kim: I can take that one. I’m really proud of the product that the team has built and launched into the market. The amount of invites for Select that have gone out are still at a very low level. Tinder and the team have been working really hard to optimize the onboarding process and help users and Select members really understand the value proposition. So, we’re continuing to iterate, learn from our users, and we’ll continue to ramp up the number of invites. We do continue to feel optimistic about the financial potential of the product, and we believe that it will continue and we can generate tens of millions of dollars of revenue in the next year.
Operator: The next question comes from Dan Salmon of New Street Research. Please go ahead.
Dan Salmon: Hi, great. Good morning, everyone. So, I’ve got a two-part question here. I just want to kind of circle back on macro a little bit. I know you mentioned the impact of higher interest rates, the conflict in the Middle East, in the shareholder letter, but could you elaborate a little bit on what you see as deterioration in macro condition, especially in light of considerable GDP growth and a resilient consumer in the U.S.? And then second related part, because we just circled back a little bit on the impact of student loan repayments, it sounds like it’s one of the things impacting à la carte, but it also seems like there’s some changes to how younger users engage with à la carte in the first place. So, perhaps you can parse that a little bit more? Thanks.
