Etsy vs Society6: Revenue, Profit and Business Model
Etsy reported $2.9B of revenue in FY2025 and $163M of net income. Society6 does not publish annual revenue.
Latest financial snapshot
Financial summary
Etsy
Etsy earns money from fees on a marketplace it does not stock, so gross margin stays near 72% (FY2025 gross profit was $2.07B on $2.88B of revenue). The pandemic pulled demand forward: GMS more than doubled to $10.3B in 2020, then consolidated GMS declined from $13.3B in 2022 to $11.9B in 2025. Revenue held up only because the take rate rose from 22.3% to 24.2% as sellers paid more for advertising and payments. FY2025 net income fell 46.3% to $163.0M as operating expenses rose 8.8%. In 2026 the picture improved: Q2 revenue was $668M, adjusted EBITDA was $195M (a 29.2% margin), and Etsy guided to mid-single-digit full-year GMS growth.
Society6
Society6 does not publish its own financial statements. Graham Holdings, which owns it, reported 2025 consolidated operating revenue of about $4.91 billion (versus $4.79 billion in 2024), and Society6 is a small part of that total. Graham Holdings has not broken out Society6's revenue, profit or headcount separately, so CorpDigest does not show estimated figures for those. The only disclosed deal values tied to Society6 are the 2013 purchase price of about $94 million ($75 million cash plus about $19 million in Demand Media stock) and the roughly $323 million Graham Holdings paid for all of Leaf Group in 2021.
Revenue and profit by year
Etsy
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $2.9B | $163M | 5.7% | +2.7% | Source |
| FY2024 | $2.8B | — | 0.0% | +2.2% | Source |
| FY2023 | $2.7B | — | 0.0% | +7.1% | Source |
| FY2022 | $2.6B | — | 0.0% | — | Source |
Society6
Society6 does not publish annual revenue. What is known about its finances is in the summary above.
Full Society6 financialsWhere the revenue comes from
Etsy
- Marketplace Revenue~69.6%
Marketplace revenue includes the 6.5% transaction fee, $0.20 listing fees, and Etsy Payments processing fees. It totaled $2,007.2 million in FY2025, down 0.7% from $2,020.7 million in FY2024, as lower GMS offset fee and payments gains.
- Services Revenue~30.4%
Services revenue includes Etsy Ads (on-site, cost-per-click), Offsite Ads fees and shipping labels. It totaled $876.3 million in FY2025, up 11.3% from $787.6 million in FY2024, and drove all of the year's revenue growth.
- Other Revenue
Not separately reported
Etsy does not break out a separate "other" line in its FY2025 results; total revenue is reported as Marketplace plus Services. Any residual items are immaterial.
- Subsidiary Marketplace Revenue (Discontinued)
~0% (divested)
Reverb was included until its June 2, 2025 sale. Depop is reported as discontinued operations in 2026 and was sold to eBay on July 30, 2026. In FY2025 Depop generated about $1.07 billion of GMS.
Society6
No segment breakdown is published.
Business model and strategy
Etsy
How it makes money
Etsy operates a pure B2C and C2C two-sided marketplace model. They do not own warehouses or delivery trucks. They simply provide the software platform connecting buyers and sellers. The core revenue engine relies entirely on 'Take Rates'. The seller pays a fee just to list an item, and then Etsy takes a large cut (often over 6.5%) of the final sale price, plus payment processing fees.
Growth strategy
Facing stagnant growth in their core market, Etsy's growth strategy is highly focused on improving 'Search and Discovery' and strictly purging 'mass-produced' goods. Because Etsy has over 100 million unique, unstandardized items, searching the site can be overwhelming. They are heavily investing in Artificial Intelligence to improve search relevance.
Competitive advantage
Etsy's absolute competitive advantage is its large, highly authentic brand identity and a highly powerful, deeply entrenched 'two-sided network effect'. Buyers go to Etsy because they know all the unique, handmade sellers are there. Sellers are forced to list their crafts on Etsy because they know all the millions of buyers are there.
Society6
How it makes money
Society6 earns money as a retailer. Customers pay the retail price for a made-to-order product such as an art print, throw pillow, shower curtain or phone case. Society6 keeps the sale after covering production, fulfillment and marketing, and pays the artist a royalty. From late 2023 to early 2025 artists could pay for Basic ($4.99/month) or Pro ($12.99/month) plans that let them set their own markups.
Growth strategy
Under CEO Julie Matrat, Society6 has focused on brand quality over catalog size. In October 2024 it re-launched its site on Shopify with design agency Pattern and added bedding. In February 2025 it introduced artwork submission and approval, retired paid artist plans, removed artist shipping fees and standardized royalties so pricing is consistent across the site.
Competitive advantage
Society6 has positioned itself as a home-decor and wall-art destination rather than a novelty T-shirt and sticker site. Its 2024 Shopify re-platform and the 2025 move to a curated catalog both aim to show fewer, higher-quality designs to shoppers who are decorating a home. Made-to-order production lets it list thousands of designs across more than 75 product types without stocking them.
Questions about Etsy vs Society6
Which company has higher revenue — Etsy, Inc. or Society6?
Etsy, Inc. reported $2.9B (FY2025). A verified revenue figure for Society6 was not available at the time of this comparison.
What is the market cap of Etsy, Inc. vs Society6?
Etsy, Inc. has a market capitalisation of $6.7B. A public market cap figure for Society6 was not available (it may be privately held).
Which is more financially efficient — Etsy, Inc. or Society6?
Etsy, Inc. generates $1.20M / employee in revenue per employee. A comparable figure for Society6 requires matching employee and revenue data from the same reporting period.
How do Etsy, Inc. and Society6 make money?
Etsy, Inc. and Society6 generate revenue in fundamentally different ways. Etsy, Inc.: Etsy operates a pure B2C and C2C two-sided marketplace model. Society6: Society6 earns money as a retailer.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Etsy vs Society6 overview