The Platform Rug-Pull: Six Companies Bill Creatives for Their Own AI Replacement
Creative platforms used to make their money when a buyer hired a seller. That was the deal. What the latest filings show is a different business model: buyers are leaving, but profits are rising, because the fastest-growing revenue line is now fees, subscriptions, and AI tools sold to the sellers themselves. The sellers who stay are paying more to reach fewer buyers. And their work is being used to train the AI that replaces them.
The Revenue Flip: Where Platform Profits Actually Come From
| Platform | Period | Marketplace Revenue (buyer-seller transactions) | Services Revenue (sold to sellers) | Active Buyers | Active Sellers | Source |
|---|---|---|---|---|---|---|
| Fiverr | FY 2025 | $297.5m (▼ 1.8%) | $133.4m (▲ 50.9%) | 3.1m (▼ 13.6% YoY) | — | Fiverr FY2025 Results |
| Fiverr | Q1 2026 | $67.1m (▼ 13.6%) | $38.4m (▲ 30%) | 2.9m (▼ 17.8% YoY) | — | Fiverr Q1 2026 Results |
| Etsy | Q3 2025 | $468m (▼ 1.7%) | $210m (▲ 12.7%) | 86.6m (▼ 5% YoY) | 5.5m (▼ 10.9% YoY) | Etsy Q3 2025 Results |
The Extraction Playbook: Platform by Platform
| Platform | What they did | Evidence |
|---|---|---|
| Canva | Banned contributors from submitting AI work. Sells AI-generated images as a Pro feature on the same site. | Contributor Agreement · AI Product Terms |
| Adobe | Trained Firefly on contributor library. No opt-out. Bonus payments as low as $4.88. Dropped payout threshold to $1 because cheques couldn't clear the $25 floor. | Firefly FAQ · Adobe Community |
| Udemy | 40% revenue share cut over 3 years. Auto-enrolled instructors in AI training with a 3-week opt-out. Opting out may reduce visibility. | Terms update · 404 Media |
| Fiverr | 20% commission on everything including tips. Effective tax 35-40%. Fiverr Go: $25/month to train AI on your work so clients can skip hiring you. | Payment Terms · Fee breakdown |
We'd like your views:
- When a platform's fastest-growing revenue line is fees charged to sellers, not transactions between buyers and sellers, is it still a marketplace?
- What happens to the money earned but is below the platform payment threshold?
- Udemy offered a 3-week opt-out window then greyed out the toggle. If the only way to protect your work is to catch a deadline you weren't expecting, is that consent?


