Adobe also shared its Q3 FY23 financial results this week, revealing that the company posted record revenue during the last quarter.

Adobe has reported revenue of $4.89 billion, representing year-over-year growth of an impressive 13%.

Highlights from the financial release include revenue growths of 14% in the Digital Media segment, 14% in Creative revenue, 15% for Document Cloud revenue, 11% in Digital Experience, and 13% in Digital Experience subscription revenue.

Given that Adobe is increasing the prices of many of its subscription plans, it is a reasonably safe bet that the new revenue record will not last long. Adobe already one-upped itself earlier this year when it posted record revenue in the first quarter of 2023.

“We are unleashing a new era of AI-enhanced creativity around the world with innovations across our product portfolio. The recent launches of Firefly, Express, Creative Cloud and GenStudio make Adobe magic available to millions of users,” says Shantanu Narayen, chair and CEO, Adobe.

“Adobe delivered world-class margins and earnings in Q3, while making significant investments in our technology platforms. Our innovation engine, global reach and strong operational rigor position us to capture the massive opportunities ahead,” adds Dan Durn, executive vice president and CFO, Adobe.

“Photographers who lament the death of perpetual software basically only have Adobe’s success to blame. Software companies that don’t adopt Adobe’s wildly successful subscription strategy are basically left to languish well behind the San Jose-based giant. With very few exceptions, subscription models are the norm,” wrote PetaPixel Editor-in-Chief Jaron Schneider earlier this year.

Subscriptions aren’t going anywhere, and Adobe will likely rake in even bigger bucks thanks to price hikes and significant product improvements. Not everyone likes Adobe’s business model, but it is impossible to argue with the results.