Operator: [Operator Instructions] Dan Moore with CJS. Your line is open.
Daniel Moore: Good morning. Maybe just one or two others. Maybe this time last year, you kind of gave the outlook for Marketing Services EBITDA, given the change in the billing cycle. When we look to ’24, how do we think about Marketing Services EBITDA relative to your ’23 guidance under the current printing cycle?
Joe Walsh: Well, there’s a — let’s start with the printing cycle. Clearly, more books come back next year. So there’ll be a little bit of a comeback in Marketing Services. That’s on the good side and Marketing Services is continuing to perform in a reliable, steady Eddie way. I’ll point you to our billings. You can look back many, many, many quarters and look at how consistently it performs. Having said that, given the traction that we’re getting with the new products that we’re coming out with, we’re feeling like we can go more aggressively into that zoo, not just doing add-on sales, but even a little bit of self-cannibalization. And so we’re doing the work right now on what the ’24 plan will be. And in our February earnings call, we’ll guide you on what next year is going to look like.
But I think directionally, we probably will be, as I mentioned before, growing the SaaS business a little faster and possibly modeling a little bit more of a decline in Marketing Services as we really cannibalize that ourselves and penetrate that ourselves. And we think overall, that’s a healthy thing, because rather than sitting and letting the iceberg just melt on its own, we’re going in there with a real actionable product and we’re moving people to a much higher engagement, much more modern platform. It’s also helping us reduce costs on the other side of the business because as we move people over, we can wind down and turn off some legacy systems that they’re on. So there’s a lot of moving parts in this. But when I think about next year, I think about more books showing up in the pub schedule next year.
So that’s a good guide to Marketing Services, but maybe us leaning on it from cannibalization a little harder than we have in the past.
Daniel Moore: And I haven’t seen — if you put out a supplemental deck, I haven’t seen it yet, so forgive me, but not seeing any change in that sort of 20% annual decline in billings at all?
Joe Walsh: We don’t anticipate that, no. Cameron, do you have anything to add to that?
Cameron Lessard: With the cannibalization, it might wave a little bit over time, but not —
Joe Walsh: Not into the future. Yes. And again, we’re doing the work now on how much we think we can do next year and we’ll be very communicative with you as to what that is. But I would expect we’ll lean on Marketing Services a little harder in order to grow SaaS a little faster.
Operator: Our next question comes from Emily Needham with 400. Your line is open.
Joe Walsh: You can just end the call.
Operator: This concludes the Q&A session as well as the call. We thank you for your participation. You may now disconnect.
