Four years after Adobe announced that it was converting its buy-once, use-forever products to web-based services, the controversial decision has proven to be both a financial and creative success. “All technology has a shelf life,” says Adobe CEO Shantanu Narayen.
Using cloud-based intelligence to its advantage, Adobe’s Premiere Pro can now recommend movie edits, and Photoshop can reconstruct missing parts of images product improvements that are delivered straight to users via cloud-based updates. In turn, Adobe’s 2016 revenue leapt 22%, to $5.85 billion. Beating desktop-software sales with cloud subscriptions? That’s “among [our] biggest milestones,” says Narayen.
This article is part of our coverage of the World’s Most Innovative Companies of 2017.