Envato reveals significant growth in demand for its unlimited subscription service, as Envato Elements grows to become a market leader
Envato has revealed a 23% jump in subscribers on its Elements product, with an associated revenue increase of 33% year on year, off the back of another successful 12 months as one of the world's leading providers of digital creative assets and services.
With Envato's net revenue at $182m USD for the financial year 2022 ending June of this year, Envato CEO Hichame Assi said the business was as popular as ever, even as interest in the wider digital creative sector showed signs of easing worldwide following the covid peak.
"We're pleased with how our business has navigated the last 18 months. Elements, in particular, is an incredible product that has grown in popularity. We now see hundreds of millions of downloads on this platform by over 500,000 active subscribers. Creators and designers of all skill levels love the unlimited access to our library of 10 million creative assets" he said.
The Australian-founded business has continued to have an outsized positive impact on its creative community through 2022 as it seeks to empower creators and make creative success accessible and achievable for all.
In the last year, Envato, through its ecosystem of products across Elements, Placeit, Market, Mixkit and Tuts+ has supported more than 2.6m paying customers in FY22, providing more than $120m in earnings to thousands of creators globally in the process.
"As a team, we've really come together with a renewed focus on our product priorities, opening up more opportunities for us to grow strongly into the future. But, more importantly, we remain as committed as ever to our B Corp foundations, balancing purpose and profit for the good of our wider creative community."
"It's a big part of why we were so committed to helping our creators in Ukraine, and also a big part of the reason we went carbon neutral across our entire business this year."