Is This the Death of CodeCanyon and ThemeForest?
How Shutterstock’s Acquisition of Envato Could Change Everything
Envato — the powerhouse behind CodeCanyon, ThemeForest, and Envato Elements — has been acquired by Shutterstock. This unexpected development has stirred the Envato community, potentially signaling significant changes for plugin and theme authors who’ve exclusively relied on CodeCanyon and ThemeForest platforms for over a decade.
Join us on Wednesday, July 24th at 9 AM EST for a Q&A panel as we discuss the future of ThemeForest and CodeCanyon.
What We’ll Discuss in the Webinar
01
The implications for plugins and themes that are listed on Envato’s marketplaces
02
What this means for software makers
03
Potential alternatives and strategies to consider
Take advantage of this opportunity to be informed and prepare for this potential market shift.
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Meet our guests
James Giroux
Former Envato Author Engagement Lead
James is the CEO of Groundwork and co-founder of Future of Team. He’s also a tech blogger, speaker, business leader, marketer, and entrepreneur and has been active in the WordPress ecosystem for 15+ years. As a former Author Engagement Lead at Envato, James has a unique insider perspective on the acquisition and whether or not it signals the end of ThemeForest and CodeCanyon.
Xaver Birsak
Power Elite Author, Mailster
Xaver is the founder of Mailster, a WordPress newsletter plugin with 25k+ active installs. He recently started selling his plugin with Freemius due to declining sales on CodeCanyon and frustrations over Envato’s lack of a subscriptions model. He offers unique insights on making the shift to non-exclusive by starting to sell directly from his own site with Freemius and how it has impacted his business.
Konstantin Pronkevych
Power Elite Author & ThemeRex CMO
Konstantin is the CMO of Boxalo Limited, which owns four Envato Power Elite Accounts: ThemeRex, AncoraThemes, AxiomThemes and CMSMasters. A design and development agency that is one of the leading theme shops on ThemeForest with over 420k+ sales and 650+ active WordPress themes on the marketplace. Konstantin brings a valuable perspective: he’s concerned about what will happen with Envato after Shutterstock deal goes through and wants to explore other options and hear about experience of the other ThemeForest authors becoming non-exclusive and selling not only through Themeforest.
Vova Feldman
Freemius founder & CEO
After exiting his first startup to a Fortune 500 company in 2013, Vova turned his side SaaS project into a successful freemium product. This led to the creation of Freemius, a platform that helps developers become entrepreneurs without operational hassles. Over the past decade, Freemius has thrived and become an industry leader, dedicated to shaping the future of software entrepreneurship.
Patrick Rauland
Moderator
Patrick Rauland loves speaking and educating future store owners about the power of WooCommerce and eCommerce. He's played every role in eCommerce, from developing sites for clients and developing the software itself to marketing eCommerce companies, and most recently, working for one of the largest known WooCommerce stores.
FAQ
Shutterstock Inc. is a global creative platform known primarily as a stock photography provider. It offers high-quality content for brands, digital media, and marketing companies.
Envato Pty Ltd. is a leading provider of digital creative assets and templates. It enables people worldwide to buy and sell creative assets, use design templates, and learn creative skills. Envato’s extensive asset library and value proposition help creatives complete projects efficiently.
Shutterstock will acquire Envato for US$245 million, gaining a 100% stake in the company. This acquisition will increase Shutterstock’s subscriber base by 650,000, bringing the total to 1.15 million. It will also expand Shutterstock’s content library with 10 million images, 6 million videos, and 1 million audio clips. The deal is expected to boost annual revenues by 20% and adjusted earnings by 15%, closing in the third quarter.
Authors may benefit from increased earnings and new business opportunities. WordPress authors, in particular, could gain exposure to larger businesses. However, Shutterstock’s lack of emphasis on code-related products and Envato’s reduced author support may affect WordPress authors. New management at Envato might not prioritize the needs of code-based authors and products.
Envato’s marketplace authors were not mentioned in investor materials or official communications, indicating a focus on Envato Elements. This could marginalize individual creators who have contributed to Envato’s growth, raising concerns for smaller authors.
The acquisition could affect the WordPress ecosystem. Elementor, which benefits from integration with popular themes on ThemeForest and contributions to Envato Elements, might lose a significant acquisition channel if Shutterstock deprioritizes code-related products. Hosting companies and agencies relying on Envato’s marketplace may also be negatively impacted by strategic decisions to move away from code-based creators.
