Squarespace is one of the best CMS and site hosting solutions worldwide.
It currently has over 4.91 million unique subscriptions worldwide and is expected to generate a revenue of $291 million to $294 million by Q2 2024.
Besides, in 2023, Squarespace was the second most popular website builder worldwide, with 22.41% of the market share.
Let us explore further details about Squarespace subscriptions, revenue, expenses, market share, usage, employees, and more in this post.
Squarespace Statistics 2024: At A Glance
- Squarespace has 4.91 million unique subscriptions worldwide as of Q1 2024.
- The platform expects to generate an annual revenue of $1.19 billion to $1.21 billion in 2024.
- Squarespace registered a revenue of $281.1 million in the Q1 of 2024.
- In 2023, Squarespace generated a revenue of 1.01 billion, an increase of 16.76% compared to 2022.
- Squarespace had a share of 22.41% in the website builder market in 2023.
- Squarespace is used by 5.47 million websites worldwide as CMS technology as of May 2024.
- 15% of the websites used Squarespace to host their websites as of May 2023.
About Squarespace
| Launched on | January 2004 |
| Headquarters | 225 Varick StreetNew York City, New York, United States |
| Founder | Anthony Casalena |
| Number of subscribers | 4.91 million (Q1 2024) |
| Q1 2024 revenue | $281.1 million |
| 2023 revenue | $1.01 billion |
| Number of websites using Squarespace | 5.47 million websites (May 2024) |
| Number of Employees | 1,749 (2023) |
How Many People Use Squarespace?
1. Squarespace has 4.91 million unique subscriptions worldwide as of Q1 2024.
According to the quarterly reports released by Squarespace, the platform had 4.91 million unique subscriptions as of March 31st, 2024, a YoY increase of 15.2% compared to the number of subscriptions recorded in Q1 2023.
A QoQ increase of 6.52% or 0.3 million subscriptions was recorded in Q1 2024 compared to Q4 2023.
By the end of 2023, Squarespace had 4.6 million unique subscriptions, an increase of 0.4 million or 9.52% compared to the 4.3 million subscriptions recorded in 2022.
Here is a table displaying the number of unique subscriptions recorded on Squarespace over the past years.
| Year | Number of Unique Subscribers |
|---|---|
| 2024 (Q1) | 4.91 million |
| 2023 | 4.6 million |
| 2022 | 4.2 million |
| 2021 | 4.1 million |
| 2020 | 3.7 million |
| 2019 | 2.98 million |
| 2018 | 2.34 million |
Source: Squarescape Q1 2024 report, Squarespace annual report 2023, Squarespace SEC Filings.
Squarespace Revenue
2. Squarespace expects to generate an annual revenue of $1.19 billion to $1.21 billion in 2024.
Squarespace estimates that its annual revenue will grow 18% to 19% in 2024 compared to 2023, resulting in a revenue of $1.19 billion to $1.21 billion.
Further, the company is also estimated to generate a quarterly revenue of $291 million to $294 million in Q2 2024.
Source: Squarespace Investor relation Q1 2024.
3. Squarespace registered a revenue of $281.1 million in the Q1 of 2024.
That is an 18.61% YoY increase in the quarterly revenue compared to the revenue of $237.0 million registered in the Q1 of 2023.
Besides, in 2023, Squarespace generated a revenue of $1.01 billion, an increase of 16.76% in annual revenue compared to $867.0 million registered in 2022.
Here is a table displaying the revenue generated by Squarespace over the past years.
| Year | Revenue Registered by Squarespace |
|---|---|
| 2024 (Q1) | $281.1 million |
| 2023 | $1,012.3 million |
| 2022 | $867.0 million |
| 2021 | $784.0 million |
| 2020 | $621.1 million |
| 2019 | $484.7 million |
| 2018 | $389.9 million |
Source: Squarescape Q1 2024 report, Squarespace annual report 2023, Squarespace SEC Filings
Squarespace Revenue Breakdown By Region
4. In the United States, Squarespace generated $201.03 million in Q1 2024.
That was 71.5 % of the total revenue generated in Q1 2024.
At the same time, Squarespace generated $80.11 million in the rest of the world, accounting for 28.5% of the total revenue generated in Q1 2024.
Source: Squarespace Q1 2024 report
5. In 2023, Squarespace registered a revenue of $726.02 million in the United States.
That was 71.7 % of the total revenue of $1.01 billion generated in 2023. At the same time, Squarespace recorded a revenue of $286.31 million in the rest of the world.
In 2022, Squarespace generated 71.8 % of the total revenue from the United States.
Here is a table displaying the revenue generated by Squarespace in the United States and in other parts of the world.
| Year | Revenue in the United States | Revenue In The Rest Of The World |
|---|---|---|
| 2023 | $726.03 million (71.7 %) | $286.31 million (28.3 %) |
| 2022 | $622.8 million (71.8%) | $244.18 million (28.2%) |
| 2021 | $544.50 million (69.4%) | $239.54 million (30.6%) |
| 2020 | $430.12 million (69.2%) | $191.03 million (30.8%) |
Source: Squarespace Annual report 2023, Squarespace Annual report 2021
Squarespace Revenue By Sources
6. Squarespace’s presence revenue was $200.88 million in Q1 2024, while its commerce revenue was $80.26 million.
The presence revenue of Squarespace refers to the revenue generated through core platform subscriptions, domain-managed services, and other fixed-fee subscriptions, while the commerce revenue of Squarespace is mainly generated through additional commerce and marketing tools that subscribers purchase in addition to the subscriptions they have.
In Q1 2024, presence revenue accounted for 71.5% of the total Squarespace revenue generated in that quarter, while commerce revenue accounted for 28.5%.
In 2023, presence revenue accounted for 69.6% of the total revenue generated, and commerce revenue accounted for 30.4%.
Here is a table displaying the presence and commerce revenue recorded by Squarespace over the years.
| Year | Presence Revenue | Commerce Revenue |
|---|---|---|
| 2024 (Q1) | $200.88 million | $80.26 million |
| 2023 | $704.35 million | $307.99 million |
| 2022 | $597.3 million | $269.67 million |
| 2021 | $554.52 million | $229.51 million |
| 2020 | $477.83 million | $143.32 million |
Source: Squarespace Q1 2024 report, Squarespace Annual report 2023, Squarespace Annual report 2021
Average Revenue Per Unique Subscription
7. In Q1 2024, the average revenue per unique subscription of Squarespace was $226.63.
This was a 6.52% increase compared to the ARPUS of $212.76 recorded in Q1 2023.
Besides, the average revenue per unique subscription was $228.02 in 2023. That was an increase of 9.02% compared to the ARPUS of $209.16 recorded in 2022.
Here is a table displaying the average revenue per unique subscription of Squarespace recorded over the years.
| Year | Average Revenue Per Unique Subscription (ARPUS) |
|---|---|
| 2024 (Q1) | $226.63 |
| 2023 | $228.02 |
| 2022 | $209.16 |
| 2021 | $202.54 |
| 2020 | $186.00 |
Source: Squarespace Q1 2024 report, Squarespace Annual report 2023, Squarespace Annual report 2021
Squarespace Gross Merchandise Value
8. Squarespace recorded a gross merchandise volume of $1.65 billion in the first quarter of 2024.
That’s a 7.52% YoY increase in the gross merchandise volume compared to the $1.53 billion recorded in Q1 2023.
The annual gross merchandise volume was $6.21 billion in 2023, compared to $6.06 billion in 2022. That shows an increase of 2.52% in the GMV recorded in 2023 compared to 2022.
Here is a table displaying the gross merchandise volume of Squarespace recorded over the years.
| Year | Gross Merchandise Volume (GMV) |
|---|---|
| 2024 (Q1) | $1.65 billion |
| 2023 | $6.21 billion |
| 2022 | $6.06 billion |
| 2021 | $5.78 billion |
| 2020 | $3.9 billion |
Source: Squarespace Q1 2024 report, Squarespace Annual report 2023, Squarespace Annual report 2021
Squarespace Total Operating Expenses
9. The total operating expenses of Squarespace were $215.2 million in Q1 2024.
That was a YoY increase of 11.74% compared to the operating expenses of $192.58 million recorded in Q1 2023.
In 2023, Squarespace’s total operating expenses were $721.09 million, a decrease of 22.14% compared to the $926.13 million total operating expenses recorded in 2022.
In 2022, the company had to spend $223.16 million as an impairment charge, which was an additional expense compared to the expenses recorded in other years.
Here is a table displaying the total operating expenses of Squarespace recorded over the years.
| Year | Total Operating Expenses |
|---|---|
| 2024 (Q1) | $215.2 million |
| 2023 | $721.09 million |
| 2022 | $926.13 million |
| 2021 | $898.28 million |
| 2020 | $482.59 million |
| 2019 | $341.5 million |
Source: Squarespace Q1 2024 report, Squarespace Annual report 2023, Squarespace Annual report 2021, Wallstreetzen
Squarespace Operating Expenses By Type
10. Squarespace spent $66.84 million on research and product development in Q1 2024.
At the same time, $117.53 million was spent on marketing and sales, and $30.82 million was general and administrative expenses.
Besides, in 2023, Squarespace spent $349.57 million on marketing and sales and $242.19 million on research and product development.
Here is a table displaying the expenses Squarespace has recorded over the years.
| Year | Research and Product Development | Marketing and Sales | General and Administrative |
|---|---|---|---|
| 2024 (Q1) | $66.85 million | $117.53 million | $30.82 million |
| 2023 | $242.19 million | $349.57 million | $129.33 million |
| 2022 | $227.3 million | $322.05 million | $151.62 million |
| 2021 | $190.38 million | $339.96 million | $367.94 million |
| 2020 | $167.91 million | $260.04 million | $54.65 million |
| 2019 | $107.64 million | $184.28 million | $49.58 million |
Source: Squarespace Q1 2024 report, Squarespace Annual report 2023, Squarespace Annual report 2021, Wallstreetzen
Squarespace Market Share
11. Squarespace had a share of 22.41% in the website builder market in 2023.
Squarespace is the second most used website builder worldwide. The most used builder worldwide is Wix, with a market share of 43.03%.
Other website builders that are most popular worldwide are Weebly and GoCentral.
Here is a table displaying the market share of the leading website builders worldwide as of 2023.
| Website Builder | Market Share |
|---|---|
| Wix | 43.03% |
| Squarespace | 22.41% |
| Weebly | 9.88% |
| GoCentral | 5.15% |
| Webflow | 2.22% |
| Blogger | 6.4% |
| Others | 10.91% |
Source: Statista
12. Squarespace online stores have a 14.67% market share of e-commerce software platforms and technologies worldwide.
Squarespace online stores are the third most popular e-commerce software platforms and technologies worldwide.
At the same time, WooCommerce is the most popular e-commerce software platform worldwide, with a market share of 38.74%.
Other popular ecommerce platforms worldwide are Woo Themes and Shopify.
Here is a table displaying the market share of the most popular e-commerce software platforms and technologies worldwide as of 2023.
| eCommerce Software Platforms And Technologies | Market Share |
|---|---|
| WooCommerce | 38.74% |
| Woo Themes | 14.95% |
| Squarespace Online Stores | 14.67% |
| Shopify | 10.32% |
| WixStores | 8.09% |
| Others | 13.22% |
Source: Statista
Squarespace Usage Statistics
13. Squarespace is used by 5.47 million websites worldwide as CMS technology.
However, of these, just 3.36 million websites are live.
0.31% of the top 1 million websites use Squarespace, while 0.64% of the websites among the top 100K websites use Squarespace.
Further, 114 websites among the top 10K websites use Squarespace.
The following table displays the share of top websites that use Squarespace as CMS technology worldwide.
| Top Websites | Share of Websites | Number of Websites |
|---|---|---|
| Top 1 million | 0.31% | 3,090 |
| Top 100K | 0.64% | 644 |
| Top 10K | 1.14% | 114 |
Source: Built With.
14. 4.86% of the websites on the internet use Squarespace as their content management system.
Squarespace is the third most used CMS technology by people worldwide. Comparatively, WordPress is the most used CMS technology worldwide and is used by 45.2% of the websites on the entire internet.
Here is a table displaying the distribution of websites using CMS technologies on the entire internet.
| CMS Technology | Percentage of Websites on the Internet | Number of Websites on the Internet |
|---|---|---|
| WordPress | 45.2% | 31,299,689 |
| Wix | 11.18% | 7,742,137 |
| Squarespace | 4.86% | 3,364,244 |
| Others | 38.76% | – |
Source: Built With
15. 2.5 million live websites in the United States use Squarespace as CMS technology.
That accounts for 74.36% of the websites using Squarespace.
Besides, 183,280 websites using Squarespace as CMS are from the United Kingdom, and 133,475 websites using Squarespace are from Australia.
Here is a table displaying the countries with the highest number of websites that use Squarespace as CMS technology.
| Country | Number of Websites Using Squarespace |
|---|---|
| United States | 2,501,606 |
| United Kingdom | 183,280 |
| Australia | 133,475 |
| Canada | 102,226 |
| Spain | 32,825 |
| Germany | 32,511 |
| New Zealand | 25,083 |
| France | 16,838 |
| Netherlands | 16,803 |
| Switzerland | 16,042 |
Source: Built with.
16. 15% of the websites that use Hosted Solution technologies use Squarespace.
Squarespace is the third most used hosted solution worldwide.
The most used hosted solution by websites on the internet is Wix, with 34% of the websites using it.
A 20% share of websites use Shopify as their hosting solution, and it is the second most popular hosted solution.
Here is a table displaying the top hosted solutions worldwide according to their usage by websites.
| Hosted Solution | Share of Websites |
|---|---|
| Wix | 34% |
| Shopify | 20% |
| Squarespace | 15% |
| Wix Stores | 14% |
| Duda | 4% |
| Weebly | 3% |
| Other | 10% |
Source: Built with
How Many Employees Does Squarespace Have?
17. Squarespace had 1,749 employees in 2023.
That was a decline of 2.83% in the number of Squarespace employees in 2023 compared to the previous year. In 2022, Squarespace had 1800 employees.
The number of Squarespace employees increased from 1,261 in 2020 to 1,600 in 2021. That was a YoY increase of 26.88% in Squarespace employees between 2020 and 2021.
Here is a table displaying the number of Squarespace employees recorded over the past years.
| Year | Number of Employees | YoY increase in employee number |
|---|---|---|
| 2023 | 1,749 | –2.83% |
| 2022 | 1,800 | 12.5% |
| 2021 | 1,600 | 26.88% |
| 2020 | 1,261 | – |
Source: Macrotrends
Miscellaneous Squarespace Statistics
18. 213,710 stores on Squarespace use Instagram to engage with millions of consumers.
That accounts for 72.8% of the Squarespace stores.
At the same time, Facebook is used by 42.5% of Squarespace stores, and Twitter is used by 12.3% of the stores.
Here is a table displaying the number of Squarespace stores that use different social media platforms to connect with consumers.
| Social Media Platform | Number of Stores |
|---|---|
| 213,710 | |
| 124,804 | |
| 36,210 | |
| YouTube | 33,978 |
| 18,915 | |
| Tiktok | 17,770 |
| 8,855 | |
| Facebook Group | 3,639 |
| Yelp | 2,135 |
| 475 | |
| Snapchat | 372 |
Source: Store Leads
19. Squarespace recorded 37.71 million visits in March 2024.
Comparatively, in February, squarespace.com had just 36.84 million visits. Meanwhile, in January, the website recorded a total visit of 38.01 million.
Source: Similarweb
20. Google Adsense is used by 19.7% of the Squarespace stores.
That accounts for 57,815 of the Squarespace stores.
At the same time, 19.3% of the Squarespace stores use Google Tag Manager, and 18% of the stores use Facebook Pixel.
Here is a table displaying different technologies installed by Squarespace stores.
| Technologies Used | Number of Squarespace Stores |
|---|---|
| Google Adsense | 57,815 |
| Google Tag Manager | 56,757 |
| Facebook Pixel | 52,750 |
| Google Analytics | 33,376 |
| reCAPTCHA | 30,122 |
| Google Ads Pixel | 28,911 |
| YouTube Player | 25,725 |
| Google Analytics 4 | 25,345 |
| Mailchimp | 9,162 |
| Acuity Scheduling | 6,342 |
Source: Store Leads
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Conclusion: Squarespace Expects An Annual Revenue Of Up To $1.21 Billion In 2024
Squarespace has been growing rapidly over the past few years, and the results can be seen in the overall growth of unique subscriptions and revenue.
Squarespace’s unique subscriptions grew from 2.98 million in 2019 to 4.91 million in 2024, an overall growth of 64.43% over the past five years.
Plus, the revenue registered by Squarespace displayed a surprising growth of 108.85% between 2019 and 2023. Further, by the end of 2024, the annual revenue of Squarespace is predicted to reach $1.19 billion to $1.21 billion from $1.01 billion recorded in 2023.
In conclusion, Squarespace is expected to keep growing in the coming years, considering its increasing usage and popularity worldwide.
