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Shutterstock, Inc. (NYSE: SSTK) is a premier global creative platform, offering high-quality content to transformative brands, digital media, and marketing companies. The company operates an online marketplace for commercial digital images, videos, and music, providing a diverse range of media including photographs, illustrations, vector art images, and video footage. These assets cater to users producing video advertisements, commercial motion pictures, television programming, video games, and other video-based media.
Shutterstock's offerings are designed to enhance visual communications through websites, digital and print marketing materials, corporate communications, books, publications, and video content. The company licenses commercial digital imagery and also offers an online learning platform for digital professionals.
Based in the United States, Shutterstock generates a significant portion of its revenue from content offerings, with its largest market being domestic. The company's innovative approach includes partnerships with leading tech firms like NVIDIA, Meta, and OpenAI, developing cutting-edge AI tools for creators. Shutterstock's commitment to ethical and responsible AI advancements is evident through its involvement with the Content Authenticity Initiative (CAI).
Recent achievements include strategic collaborations with Luma Labs AI, RECON Labs, and Volinga AI to explore NeRF technology, enhancing Shutterstock's extensive 2D/3D asset database. Additionally, Shutterstock's acquisition of Giphy has bolstered its content offerings, adding significant value to its data and services segment.
Financially, Shutterstock has shown robust performance with increasing revenues and profitability. The company continues to innovate with the launch of creative AI-powered editing features, providing users with unprecedented capabilities to refine and perfect images from its vast library.
With a growing network of over two million creators, Shutterstock remains focused on empowering the creative process and supporting its artist community through ongoing royalties and a Contributor Fund. As it continues to expand its service offerings and market reach, Shutterstock is poised to remain a leader in the creative content industry.
Shutterstock, Inc. (NYSE: SSTK) announced a cash dividend increase of $0.21 per share, reflecting a 24% raise from the previous $0.17. The dividend will be payable on March 18, 2021 to stockholders on record by March 4, 2021. CEO Stan Pavlovsky stated this increase demonstrates the company's commitment to returning value to stockholders and confidence in future business prospects. This marks a significant step in enhancing shareholder value amidst ongoing market dynamics.
Shutterstock, Inc. (NYSE: SSTK) will release its fourth quarter and full year 2020 financial results on February 11, 2021, prior to market opening. A conference call will follow at 8:30 a.m. ET where results will be discussed. Access details include a U.S. dial-in number of (844) 634-1442 and a conference ID# 4294996. A live audio webcast will be available on Shutterstock's investor relations page, with recorded replays accessible until February 18, 2021.
Shutterstock (NYSE:SSTK) has launched The Create Fund, a $300,000 grant program aimed at supporting artists focusing on diversity, inclusion, social justice, and environmental issues. This initiative is designed to fill content gaps and enhance representation within its content library. Grants will be awarded for projects promoting climate awareness, mental health, and supporting senior creatives. Artists can apply until February 8, 2021, and will be selected by a diverse panel. The program aims to empower underrepresented artists and enrich Shutterstock's offerings.
Shutterstock (NYSE: SSTK) announces a new integration with WordPress, allowing users access to over 350 million licensed images and a Smart Image Recommendations tool. The plugin, available in 21 languages, is designed to streamline the publishing process, making it quicker for users to find relevant visuals for their content. Additionally, Shutterstock has been named a WordPress VIP Featured Technology Partner, enhancing its visibility in the enterprise market. This integration aims to empower brands in storytelling through engaging visual content.
Shutterstock (NYSE: SSTK) has appointed Alfonse Upshaw, Senior VP and Chief Accounting Officer at Kaiser Foundation, to its board of directors, where he will chair the audit committee. CEO Stan Pavlovsky expressed confidence in Upshaw's strategic background and business development expertise to enhance the board's effectiveness. Upshaw brings extensive experience in accounting, governance, and business development from both Kaiser Permanente and Deloitte. His appointment aligns with Shutterstock's goal to innovate and strengthen its subscription model.
Shutterstock (NYSE: SSTK) has launched its 2020 Year in Review, showcasing pivotal moments from a historic year. Curated from millions of photos, this collection reflects significant events, including the Coronavirus pandemic, the Black Lives Matter movement, and the US Election. The initiative emphasizes photography's role in documenting history and aims to honor the resilience of photographers during these challenging times.
Shutterstock (NYSE: SSTK) announced a groundbreaking integration with Spirable, a leader in dynamic video advertising. This partnership allows Shutterstock Premier users to access and insert licensed content seamlessly into their video projects via Spirable's platform. The integration streamlines workflows for creatives, enabling quick and efficient video ad production. Key benefits include direct access to Shutterstock's content, intuitive content insertion, and licensing protection. This collaboration aims to enhance brand engagement and video creativity, positioning Shutterstock as a key player in the dynamic advertising space.
Shutterstock (NYSE: SSTK) has officially launched Shutterstock Studios, a new division that offers custom, high-quality content and production services. This initiative aims to enhance content creation for brands, providing a full range of services from storytelling to production. Headed by Aiden Darné, who brings extensive experience from Vice Media Group, the new studio leverages Shutterstock's network of over 1 million contributors to ensure cultural relevance and authenticity in the content produced. This launch is considered a significant milestone for the company's growth strategy.
Shutterstock, Inc. (NYSE:SSTK) announced its 2021 Color Trends report, identifying three key colors for the upcoming year: Set Sail Champagne (#FAEBD7), Fortuna Gold (#DAA520), and Tidewater Green (#2F4F4F). The report highlights a shift towards optimistic hues that reflect hope and new opportunities as creatives respond to changing trends. The company serves nearly 2 million global customers, leveraging a vast library for content creation.
Shutterstock, Inc. (NYSE: SSTK) has launched an innovative Single Sign-On (SSO) integration designed for enterprise customers, marking a significant advancement among global content providers. This quick setup allows over 250,000 companies secure access to a library of over 350 million high-quality licensed images, videos, and music tracks. This integration aims to enhance productivity by reducing password fatigue, improving security, and decreasing accidental re-licensing costs by 10%. With support from leading identity solutions like Okta and Microsoft Azure AD, Shutterstock continues to address the evolving demands of remote work.
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