“essentially subscription revenues were replacing revenues from non-portable license arrangements.”
So it’s not really growth, right? Seems like new type of contract for the same customers buying the same product/service.
Bingo. When I was at Oracle (HW, not SW) 3+ years ago they were doing the very same thing - moving legacy customers to cloud account, mostly by strong-arming tactics, and claiming that their cloud was “growing”. #smh