v3.25.2
Revenue
 6 Months Ended
Jun. 30, 2025
Revenue from Contract with Customer [Abstract]  
Revenue
Note 3 - Revenue

    Revenue is derived from licensing rights to use images, video footage, and music delivered digitally online. Digital content licenses are generally purchased on a monthly or annual subscription basis, whereby a customer either pays for a predetermined quantity of content or for access to the Company’s content library that may be downloaded over a specific period of time, or, on a transactional basis, whereby a customer pays for individual content licenses at the time of download. Also, a significant portion of revenue is generated through the sale and subsequent use of credits. Various amounts of credits are required to license digital content.

    The Company recognizes revenue under the core principle to depict the transfer of control to the Company’s customers in an amount reflecting the consideration to which the Company expects to be entitled. To achieve that core principle, the Company applies the following five-step approach: (i) identify the contract with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract and (v) recognize revenue when a performance obligation is satisfied.

    For digital content licenses, the Company recognizes revenue on its capped subscription-based, credit-based sales and single image licenses when content is downloaded, at which time the license is provided. In addition, management estimates expected unused licenses for capped subscription-based and credit-based products and recognizes the revenue associated with the unused licenses throughout the subscription or credit period. The estimate of unused licenses is based on historical download activity and future changes in the estimate could impact the timing of revenue recognition of the Company’s subscription products.

For uncapped digital content subscriptions, the Company has determined that access to the existing content library and future digital content updates represent two separate performance obligations. As such, a portion of the total contract consideration related to access to the existing content library is recognized as revenue at the commencement of the contract when control of the content library is transferred. The remaining contractual consideration is recognized as revenue ratably over the term of the contract when updated digital content is transferred to the licensee, in line with when the control of the new content is transferred.

    Revenue associated with hosted software services is recognized ratably over the term of the license.


Disaggregation of Revenue
The following tables provide information about disaggregated revenue by major product line, primary geographic market, and timing of revenue recognition.
Revenue by major product:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2025202420252024
Creative$130,824 $137,897 $262,998 $276,739 
Editorial88,342 83,619 170,959 163,048 
Other15,716 7,624 25,002 11,631 
Total Revenue$234,882 $229,140 $458,959 $451,418 
Certain prior period amounts have been reclassified to conform to the current year presentation.
Revenue by region:
Three Months Ended June 30,Six Months Ended June 30,
(In thousands)2025202420252024
Americas$136,509 $127,957 $268,033 $252,366 
Europe, the Middle East, and Africa73,202 75,686 141,929 148,601 
Asia-Pacific25,171 25,497 48,997 50,451 
Total Revenue$234,882 $229,140 $458,959 $451,418 
The June 30, 2025 deferred revenue balance will be earned as content is downloaded, services are provided, or upon the expiration of subscription-based products, and nearly all is expected to be earned within the next twelve months.
During the six months ended June 30, 2025, the Company recognized revenue of $106.0 million that had been included in deferred revenue as of January 1, 2025.