In an interview with McKinsey’s Kara Sprague, the company’s chief financial officer, Mark Garrett, and its vice president of business operations and strategy, Dan Cohen, describe how the leadership team got this new digital business model off the ground and the lessons they’ve learned along the way. The number of subscribing customers is more than four million and rising.īut making this wholesale shift hasn’t been easy for a software company born and bred in the desktop-application era. Its stock price has more than tripled, overall revenue growth has climbed from the single digits five years ago to the double digits today, and recurring revenue has climbed from 19 percent in 2011 to 70 percent of total revenue today. In large part because of Adobe’s transition to the cloud, the company has seen its fortunes turn. Rather, customers subscribe to Creative Cloud, the company’s online suite of publishing and design tools, and receive frequent software upgrades as well as a range of new online-only and mobile services.
License-where customers pay once and can use the software indefinitely. It no longer offers its publishing and design tools in the form of physical, shrink-wrapped products to be deployed at customers’ sites under a perpetual Over the past five years, Adobe Systems has remade itself as a cloud company.
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