The move to a subscription-based business model has been blamed for Autodesk’s revenue decline in the third quarter of 2016.

Sales from its Media and Entertainment division fell 13% year-on-year to $34m (£26m), slightly ahead of its overall sales, which were down 18%.

Autodesk, maker of the Flame visual effects system, said the shift from long-term licences to subscription was causing revenue to be recognised over the term of the subscription instead of upfront.

It also reported an increased loss of $142.8m (£112m) but said overall subscription levels went up.