How might Adobe's revenue mix evolve next year?

Adobe's revenue mix is likely to evolve next year as follows:

1. Digital Media Segment Dominance: The Digital Media segment, which includes Creative Cloud and Document Cloud, is expected to continue its strong performance. This segment generated $4.15 billion in revenue during the last quarter and is anticipated to grow further due to the strong adoption of AI tools like Firefly in Photoshop and other products.
2. Subscription-Based Model Expansion: Adobe's subscription-based model is a significant contributor to its revenue, with subscription revenues amounting to $5.37 billion, up 12.6% year-over-year. This trend is likely to continue as more customers migrate to subscription plans.
3. Digital Experience Segment Growth: The Digital Experience segment, which includes Adobe Experience Cloud, is expected to see growth due to the solid demand for the Adobe Experience Platform. This segment is likely to contribute more to the overall revenue as businesses increasingly rely on digital experiences.
4. AI Monetization and Innovation: Adobe's investments in AI are likely to start generating more revenue next year. Although current projections fall short of expectations, the innovation in AI capabilities could lead to increased monetization in the future.
5. Print and Publishing Segment Decline: The Print and Publishing segment is expected to continue its decline, with revenues totaling $73 million, down 6.4% year-over-year. This segment is likely to have less impact on the overall revenue mix due to the shift towards digital media.
6. New Business Opportunities: Adobe may explore new business opportunities, such as the potential for AI-driven advancements in areas like content generation and design. These new opportunities could lead to additional revenue streams and a more diversified revenue mix.

In conclusion, Adobe's revenue mix is expected to continue to be dominated by its Digital Media segment, with a growing emphasis on subscription-based models and AI-driven innovations. The company's focus on digital transformation and the adoption of AI technologies are likely to lead to new revenue streams and a more diversified revenue mix in the coming years.