So when we turn back to the long-term operating targets that we’ve set forth over 1.5 years ago, we have a lot of confidence that we’ll continue to gain leverage against both the gross margins, the product development costs, sales and marketing and G&A, and that’s our path to getting to that 20% or better adjusted EBITDA margin.
Operator: [Operator Instructions] And your next question comes from the line of Cameron Mansson-Perrone from Morgan Stanley.
Cameron Mansson-Perrone: One, the kind of dovetail on Justin’s question about the 20% growth expectation next year, the back half year, a lot of what appears to be driving the growth has really been the benefits that you’ve seen from some of your value-add tools, but I think mostly — and you can correct me if I’m wrong, but I think mostly the price increase this year rolling through and really that combined impact on take rate and ARPU improvement. I’d be curious to hear as we think about the like 5 factor model, whether you see, you mentioned trying to get 10% ticket volume growth. So how you think about those 5 factors in terms of driving the growth in ’24? And how they may change given that you’re probably not going to increase price every year, how those might change in terms of what drove growth this year versus what you see driving the growth next year?
And then Secondly, if I can, creators were up nicely year-over-year, but it ticked down a little bit sequentially. I’d be curious to hear if there’s anything that you call out in terms of just general timing or seasonality that we should keep in mind.
Lanny Baker: Sure. Cameron, I’ll address your question about the revenue growth formula. As you know, we’ve laid out a formula for our platform. That will evolve as we become more and ultimately become fully a 2-sided marketplace model. But the core underlying dynamics of our growth equation to get to 20-plus percent revenue growth are high single digit to low double-digit growth in creators, which is where we were in this quarter, low single-digit to mid-single-digit growth in events per creator. We were down a little bit there this quarter. Tickets per event growing in the mid-single digits to high single digits as we help creators find more audience. Paid tickets — sorry, the price per ticket, which is really set by creators rather than us.
We think that’s a low single-digit to mid-single-digit growth dynamic. And then in the long term, we think the take rate is a low single digit to mid-single digit year-over-year growth. So this year, you’re absolutely right. The take rate has been a big inflection for us. We took a pricing step in January of 2023, that really is predicated upon the work that we’ve done on the product to tighten up the functionality and the product market fit to the needs of our most valuable creators. And I’m really happy to say that, that price increase effected earlier this year has gone very, very well. We have then rolled out Eventbrite ads and Boost, which has now become available to everybody behind the introduction of the organizer fees. So as much as — it really is — it’s in tandem with a product change.
And that is that we’ve baked marketing tools into the core value proposition. And we know from feedback from our creators in response to even what we’ve done recently, that this is absolutely value that they are seeking from us in — as a service provider to them and helping them grow those events. So for this year, in 2023, the formula does look like double-digit growth in creators and double-digit growth in the take rate. I think where that positions us going forward is to do all the things we’ve been talking about, focusing on growth from a marketplace perspective, which means obtaining the inventory on our market that consumers want the most, attractive, in-person, hyper-relevant, local, engaging content, bring that on to the platform. And then secondly, present that content to consumers in an extremely compelling way through personalization, through search and discovery and through distribution, as Julia talked about.
