Good morning! recently introduced new features for its software in Las Vegas. These features use smart AI technology to help people make content and train models. This means companies can use their own logos and ideas, and even have an AI helper.
Adobe hit $21.5 Billion
Adobe’s AI strategy is about making things better for customers, making sure everyone can use it, and giving more chances to update and improve technology.
Last week, Adobe, ranked 233rd on the Fortune 500 list, mentioned at a conference that in 2024, they expect to have a market worth $205 billion. They also projected that by 2027, with the help of AI, their market could grow to about $293 billion.
In 2024, Adobe aims to make between $21.3 billion and $21.5 billion in total revenue. This includes:
- $15.75 billion to $15.85 billion from digital media segment
- $4.75 billion to $4.8 billion from digital experience subscriptions.
Cloud service subscriptions are the main reason companies are making more money. Almost all of their income, about 95%, comes from these subscriptions. Back in 2013, it was only 28%. Adobe changed how it sells its software more than ten years ago. Instead of selling licenses, they started offering monthly subscriptions.
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Durn observed that many companies provide consumer products at affordable monthly rates, alongside clinching substantial contracts with large enterprises valued at over $100 million.
Even though Adobe is a big player in design software, it still faces competition. One example is Canva, a company from Australia that recently bought Affinity, a design platform aimed at professionals.
Adobe stands out from other companies because we are everywhere in the way people work, create, and market. We help individuals and businesses with all aspects of content creation and delivery. From creativity to marketing, we’ve got it covered.
Adobe is making generative AI a part of its products and workflows from the start. They’re using data they own the rights to, not taking it from the internet or others. This sets them apart from others who might use borrowed data to make money.
Durn said, “I’m confident about where we stand compared to others because of vision and approach.”
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