BPN Feed

We are exceptionally pleased with the continued performance and scalability of our marketing. What we've been able to accomplish this year with our marketing efforts, I think, has been really special and quite unique. Like many, we've seen ad rates increase throughout the year. Yet in the face of these rate increases, we have kept our acquisition cost per new subscriber effectively flat the entire year. From Q1 to Q3, the variance between our highest CAC quarter and lowest CAC quarter has been less than 3%. Another way of saying this is that CAC has essentially been flat all year. Keeping CAC flat in an environment of increasing rates would be impressive by itself. However, we've done this while also scaling subscriptions and exceeding our revenue targets.

So 2019, the payback period was over a year. We actively did a ton of execution and activities to bring that down over time. We saw in 2021 that that came down to less than a year, roughly 6 months. As we look at the early 2022 cohorts that are now hitting a year, those have also had a payback period roughly in the month -- the 6 to 7 month time frame. And so I think that we increasingly just see very strong strength across the customer cohorts that really is just a testament to how customers value our platform.