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2013 Annual Report
2014 Form 10-K 44
Subscription Revenue
Subscription revenue increased 8% during fiscal 2013, as compared to fiscal 2012, primarily due to a 4% increase in
commercial maintenance revenue. The 4% increase in commercial maintenance revenue was due to an 8% increase from
commercial enrollment during the corresponding maintenance contract term partially offset by a 4% decrease in average net
revenue per maintenance seat. Commercial maintenance revenue represented 94% and 97% of Subscription revenue for fiscal
2013 and 2012.
Net subscription billings increased 5% during fiscal 2013 as compared to the prior fiscal year primarily due to early
subscription renewals in advance of a price increase and due to new multi-year maintenance contracts.
Our deferred subscription revenue balance at January 31, 2013 and January 31, 2012 was $753.1 million and $644.1
million, respectively, and primarily related to customer maintenance agreements, which will be recognized as revenue ratably
over the term of the maintenance agreement.
Net Revenue by Geographic Area
Net revenue in the Americas geography increased by 5% both as reported and on a constant currency basis, during fiscal
2013, as compared to fiscal 2012. This increase was primarily due to a 5% increase in our flagship product revenue and an 8%
increase in our suites revenue during fiscal 2013 as compared to fiscal 2012. The increase in our revenue in this geography was
led by the U.S. and Canada.
Net revenue in the EMEA geography increased by 1%, or 3% on a constant currency basis, during fiscal 2013 as
compared to fiscal 2012. The increase was primarily due to a 13% increase in our suites revenue partially offset by a 4%
decrease in our flagship product revenue during fiscal 2013 as compared to fiscal 2012. The increase in our revenue in this
geography was led by Ireland, Finland and Germany, partially offset by a decrease in revenue from Sweden and the United
Kingdom.
Net revenue in the APAC geography increased by 9%, or 8% on a constant currency basis, during fiscal 2013, as
compared to fiscal 2012, primarily due to a 28% increase in our suites revenue and an 8% increase in flagship product revenue
during fiscal 2013 as compared to fiscal 2012. Net revenue expansion in the APAC geography during fiscal 2013 was led by
Japan, followed by China and South Korea.
Net revenue in emerging economies decreased by 4%, or 2% on a constant currency basis, during fiscal 2013 as
compared to fiscal 2012, primarily due to a decrease in revenue from Brazil, Poland and India, partially offset by an increase in
revenue from China. Revenue from emerging economies represented 14% of net revenue for fiscal 2013 and 16% for fiscal
2012.
International net revenue represented 71% and 72% of our net revenue in fiscal 2013 and fiscal 2012, respectively.
Net Revenue by Operating Segment
Net revenue for PSEB, which includes our Autodesk Design Suite, increased 1% during fiscal 2013, as compared to fiscal
2012, primarily due to a 2% increase in revenue from our flagship AutoCAD and AutoCAD LT products.
Net revenue for AEC increased 12% during fiscal 2013, as compared to fiscal 2012, primarily due to a 22% increase in
revenue from our AEC suites, which includes our Autodesk Building Design Suite.
Net revenue for MFG increased 6% during fiscal 2013, as compared to fiscal 2012, primarily due to an 8% increase in
revenue from our MFG suites, which includes the Autodesk Product Design Suite.
Net revenue for M&E decreased 10% during fiscal 2013, as compared to fiscal 2012, primarily due to an 8% decrease in
revenue from our Animation product group, which includes our Autodesk Entertainment Creation Suite, and a 16% decrease in
revenue from Creative Finishing. The decrease in Animation revenue was primarily due to a 22% decrease in revenue from our
flagship product, 3Ds Max, partially offset by a 26% increase in revenue from our animation suites, which includes our
Autodesk Entertainment Creation Suite. The overall decrease in M&E revenue is related to a general decrease in the M&E
industry end-market demand, as well as the inclusion of our M&E products in other Autodesk industry suites.