Canva, a top online design platform, has transformed the field of graphic design by providing a user-friendly platform that includes a variety of design options. This piece provides a comprehensive overview of the main channels that drive Canva’s revenue.
Freemium Business Model
The principal unit of Canva’s revenue generation is its freemium business model. This model allows users to use the basic functionalities of the platform for free while charging for the advanced features. The premium services, known as Canva Pro, come with benefits like access to a larger collection of templates, images, fonts, and other design elements. Users also enjoy features like background remover, resizing designs, team functionalities, and so on.
Sale of Digital Assets
Apart from the freemium model, Canva also earns revenue through the sale of digital assets. These are elements such as images, fonts, and templates that users can purchase individually without subscribing to a premium plan.
Print Services
Canva also offers print services where users can design and order prints of their designs directly from Canva. Therefore, part of Canva’s revenue also comes from its print service.
Canva Enterprise
Last but not least, Canva also offers an enterprise solution for larger businesses or organizations. Canva Enterprise provides additional features like brand control, unlimited storage, team templates, workflows, and a dedicated account manager. It’s a more extensive and expensive subscription plan that aids businesses in meeting their design requirements while maintaining brand consistency.
In conclusion, Canva’s revenue generation model is a perfect blend of diversified strategies that enable the platform to cater to the varied requirements of different users and businesses. It’s this combination of various revenue streams that have enabled Canva to become a billion-dollar company in today’s competitive market.
