Freepik Company closes 2021 with a turnover of 61.5 million euros
Freepik Company, one of the leading companies in the stock graphic resources sector and parent company of the most used image bank in the world, Freepik, closed 2021 with a turnover of 61.5 million euros.
In addition, the Malaga-based company has a hybrid content production model in which it combines its own production of graphic resources through an internal team of 147 people with a network of contributors around the world. This network, thanks to the commissions they receive through downloads of their graphic resources, earned more than 30 million euros, in the last five years.
Freepik Company’s contributor network is composed of more than 18,000 designers, photographers and design agencies, of which about 60% are actually active, that is, they share their graphic resources on Freepik and Flaticon on a regular basis. These contributors, who provide 85% of the total graphic resources offered by Freepik Company products, are mainly based in Southeast Asian countries, Latin America and Eastern Europe, and thanks to this contributor role, they earn extra income every month or even provide their main livelihood.
For Cuenca “that Freepik Company serves as a livelihood, or as an extra to make ends meet, to design, photography and creativity professionals, who do not always have job opportunities, is for us a source of pride and we like to have a close and responsible relationship with them. It should also be noted that there are quite a few cases of contributors who earn a lot of income with us, their resources are very downloaded worldwide, and that is also something that satisfies us.”
Likewise, and thanks to its differentiating commitment to a freemium model in its products -Freepik, Flaticon and Slidesgo-, Freepik Company closed the year with an average of 41 million monthly users. These users generated almost 1.5 billion downloads, and recorded a 34% increase in the number of subscribers, so that this revenue stream currently accounts for 70% of its total turnover.
According to Joaquín Cuenca, co-founder and CEO of the Malaga-based company, “in 2021 we exceeded our expectations, which shows that our business model is the right one to continue consolidating our leadership in the stock image industry. Especially because we have seen that many of the new subscribers come from strategic markets for us, such as North America and Europe, consolidating our international vocation”.
Freepik Company ended 2021 with a workforce of 380 employees, 26% more than the previous year, and its team continues to work from home.
Performance in the USA
Although it is a Spanish company, it is the international markets that support Freepik Company’s activity. In this sense, the North American market contributes 20% of Freepik Company’s total turnover, about 3.5 million users and around 110 thousand subscribers.