Adobe 2014 Annual Report Download - page 44

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44
Revenue related to our creative professional products, which include our Creative Suite editions and CS point products as
well as Creative Cloud, decreased during fiscal 2013 as compared to fiscal 2012 due to continued customer adoption of Creative
Cloud subscription offerings, released in May 2012, for which revenue is recognized over time.
Revenue associated with our other creative products increased during fiscal 2013 as compared to fiscal 2012, primarily due
to increases associated with distribution of third-party software downloads and our Digital Publishing Suite. These increases were
partially offset by decreases in revenue associated with our Hobbyist products.
For our creative offerings, the total number of perpetual units licensed decreased while the number of subscription units
licensed increased during fiscal 2013 as compared to fiscal 2012. Unit average selling prices for our perpetual units licensed
decreased during the year ended fiscal 2013 as compared to fiscal 2012.
Document Services revenue, which includes our Acrobat product family, decreased slightly during fiscal 2013 as compared
to fiscal 2012, primarily due to the continued shift to ETLAs offset by increased Acrobat Cloud Services revenue including revenue
generated from our EchoSign e-signing service.
Within Document Services, excluding large enterprise license agreements, the number of units licensed decreased while
the unit average selling prices increased during fiscal 2013 as compared to fiscal 2012.
Digital Marketing
Revenue from Digital Marketing increased $143.8 million during fiscal 2013 as compared to fiscal 2012. The increase was
primarily due to continued revenue growth associated with our Adobe Marketing Cloud, which increased 26% during fiscal 2013,
as compared to the year ago period and includes Adobe Campaign revenue from our acquisition of Neolane in the third quarter
of fiscal 2013. The increase noted above was partially offset by expected declines in revenue associated with our legacy products
during fiscal 2013.
Print and Publishing
Revenue from Print and Publishing decreased during fiscal 2013 as compared to fiscal 2012, primarily due to increased
ETLAs for certain products in this group.
Geographical Information (dollars in millions)
Fiscal
2014 Fiscal
2013 Fiscal
2012 % Change
2014-2013 % Change
2013-2012
Americas ..................................................................... $ 2,314.4 $ 2,134.4 $ 2,196.4 8 % (3)%
Percentage of total revenue....................................... 56% 53% 50%
EMEA.......................................................................... 1,179.9 1,129.2 1,294.6 4 % (13)%
Percentage of total revenue....................................... 28% 28% 29%
APAC.......................................................................... 652.8 791.6 912.7 (18)% (13)%
Percentage of total revenue....................................... 16% 19% 21%
Total revenue............................................................... $ 4,147.1 $ 4,055.2 $ 4,403.7 2 % (8)%
Fiscal 2014 Revenue by Geography Compared to Fiscal 2013 Revenue by Geography
Overall revenue during fiscal 2014 as compared to fiscal 2013 increased in the Americas and EMEA. Revenue in the
Americas increased during fiscal 2014 as compared to the year-ago period due to increases in Digital Media and Digital Marketing
revenue. Revenue in EMEA increased during fiscal 2014 as compared to the year-ago period primarily due to increases in Digital
Marketing revenue. Digital Media and Print and Publishing revenue in EMEA remained relatively stable during fiscal 2014
compared to the year-ago period. Despite the strengthening of the U.S. Dollar against the Euro and the British Pound during the
latter part of 2014, the overall weakening of the U.S. Dollar against these currencies during fiscal 2014 also caused revenue in
EMEA to increase as compared to the year-ago period. Within the Americas and EMEA, the fluctuations in revenue by reportable
segment were attributable to the factors noted in the segment information above.
Revenue in APAC decreased during fiscal 2014 as compared to the year-ago period primarily as a result of decreases in
Digital Media revenue due to slower adoption of Creative Cloud in Japan compared to other countries and the strengthening of
the U.S. Dollar against the Japanese Yen and other Asian currencies during fiscal 2014 as compared to the year-ago period. Digital
Marketing and Print and Publishing revenue in APAC remained relatively stable in fiscal 2014 compared to the year-ago period.