Shutterstock Inc Stock Price, News & Analysis

Shutterstock (NYSE: SSTK), a leading creative platform, has announced an exclusive partnership with the Screen Actors Guild Awards® for photography and distribution. As the official photographer for the SAG Awards on April 4, 2021, Shutterstock will provide high-quality Nominee and Winner portraits, along with exclusive access to all SAG Awards events. The collaboration allows Shutterstock to showcase pivotal photographic moments in real-time, enhancing its reputation for striking visual storytelling. This partnership marks a significant move in Shutterstock's expansion into high-profile events.

Shutterstock, Inc. (NYSE: SSTK) will release its first quarter 2021 financial results on April 27, 2021, before market opening. A conference call will take place at 8:30 a.m. ET to discuss these results, accessible via phone and live audio webcast on Shutterstock's website. The company, headquartered in New York City, offers a wide range of high-quality creative content and solutions and has over 360 million images and 21 million video clips available, with a growing community of 1.6 million contributors.

Shutterstock (NYSE: SSTK) has entered a three-year partnership with Scottish Premiership Champions Rangers FC. This collaboration enables Shutterstock to capture and distribute real-time photography for Rangers' Scottish and UEFA fixtures, along with exclusive access to off-field events. The deal aims to enhance global reach and commercial revenue for both organizations. With a fanbase of over 550 supporters' clubs worldwide, this partnership is expected to deliver engaging visual content to a broad audience.

On March 8, 2021, Shutterstock (NYSE: SSTK) announced the launch of the "Through Their Eyes" grant, offering $10,000 to support female and non-binary creators. This initiative aims to elevate diverse perspectives in photography, videography, and writing, especially on International Women's Day. The grant includes three prizes: $5,000 for the first place and $2,500 for two runners-up. Interested artists must submit proposals by April 22, 2021. This program is part of Shutterstock's larger $300,000 Create Fund, which promotes diversity and inclusion in its content library.

Shutterstock (NYSE: SSTK) has launched the "All The Best Artists" campaign to celebrate the diversity of its 1.6 million contributor community. This campaign showcases eight innovative artists from different backgrounds and locations, featuring their unique creative works across photography, video, and illustration. The campaign aims to highlight the exceptional content that Shutterstock provides to businesses and media companies while emphasizing its commitment to diverse talent.

Shutterstock (NYSE: SSTK) reported strong financial performance for Q4 and full-year 2020. Q4 revenue increased 9% to $180.9 million, driven by a 45% growth in subscribers to 281,000 and 18% subscriber revenue growth to $71.1 million. Net income surged 495% to $25.9 million. For the full year, revenue reached $666.7 million, a 2% increase, and net income rose 257% to $71.8 million. The company also completed the acquisition of TurboSquid for $75 million, enhancing its 3D content offerings. Guidance for 2021 projects revenue between $708 million and $722 million.

Shutterstock, Inc. (NYSE: SSTK) announced on Feb. 8, 2021, that John Lapham has joined its leadership team as General Counsel. With over 20 years of legal experience, Lapham will lead Shutterstock's global legal strategy and manage risk within the organization. Previously, he served as General Counsel at Rover.com and held senior legal roles at Getty Images. Lapham's expertise in business and regulatory affairs is expected to support Shutterstock's growth and innovation agenda.

On February 2, 2021, Shutterstock (NYSE: SSTK) announced the launch of The Vault, an extensive archival collection featuring over 50 million photo and video assets. Located in London, The Vault emphasizes historical content from various categories, providing customers access to a rich narrative of the 20th Century. This initiative includes collaborations with prominent partners like AP and ITV, delivering unique archival photography and footage. The Vault's offerings encompass notable collections such as The Rex Features Collection and exclusive ITV archives.

Shutterstock, Inc. (NYSE: SSTK) announced its acquisition of TurboSquid, Inc. for $75 million in cash. This strategic move positions Shutterstock as the world's largest 3D marketplace, enhancing its offerings in 3D, AR, and VR content. TurboSquid, a leader in 3D model marketplaces, provides over one million models and a digital asset management solution. The acquisition is expected to be immediately accretive to Shutterstock’s adjusted net income and EBITDA, with a closing targeted for early February 2021, subject to standard conditions.