Suite which you could buy it as an individual point product, or you could buy the whole suite and that is how we sold it traditionally in the market. It was a perpetual license.
At the same time about five years ago once we had established clear market leadership across all of these product categories within the Creative Suite, we realised that content was increasingly going online. Customers were telling us whether this content is working for us or not. How do I measure it? How do I monetise it? How do I take that content and port it across 20,000 different mobile devices, and so on and so on. That’s what really gave rise to a business called digital marketing.
Today we have built the largest digital marketing business on the planet. We are powering more than 15,000 brands. We run websites for them. We run their mobile sites for them. We have got an integrated suite called the Adobe Digital Marketing Suite that
today has been powering the largest brands in the world.
Literally out of nowhere this has now become a $1.25 billion business out of scratch which is growing at about 40% y-o-y on bookings and 30% year-on-year in terms of actual revenue growth. This entire business is delivered as software as a service, the new side of the business.
Pay once, use always. Am I right?
Absolutely. But there were pros and cons of that model. The pro was you spent your money once and you could use it for perpetuity till as long as your hardware supported that software. The other pro was you got the ownership of that on your books so CIOs would typically depreciate those assets. Some people depreciate software in two years and some people in three years and some people in five years. But they could depreciate that asset off their books. Third was the companies had preferred higher capital expenses. They preferred that kind of a model.
But the cons of the model were first just the sheer affordability. So Photoshop was R75,000 as a single app right and the whole Creative Suite was in the tune of R3.5 to R4 lakh. Now you have paid us that money and you have paid us 20% per year as annual maintenance charges. When you think of a market like India where piracy has been very high, piracy is not high because people want