Welcome to our dedicated page for Shutterstock news (Ticker: SSTK), a resource for investors and traders seeking the latest updates and insights on Shutterstock stock.
Shutterstock, Inc. (NYSE: SSTK) is a global leader in digital creative solutions, connecting professionals with premium images, videos, and AI-powered tools. This news hub provides investors and creatives with essential updates about the company’s strategic direction, financial performance, and market innovations.
Discover official press releases, earnings reports, and analyses covering Shutterstock’s licensing partnerships, technology advancements like generative AI integrations, and strategic acquisitions. Our curated feed ensures you never miss developments impacting the digital media landscape.
Key updates include quarterly financial results, content library expansions, leadership changes, and collaborations shaping visual communications. Bookmark this page for streamlined access to verified information about one of the stock photography market’s most dynamic players.
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.
Shutterstock (NYSE: SSTK) announced the acquisition of assets from Amper Music, an AI-driven music platform. This acquisition enhances Shutterstock's AI capabilities, particularly in content search and music discovery for its users. Amper's technology will improve customer experience and editing tools, with all employees from Amper joining Shutterstock. The deal aligns with Shutterstock's mission to innovate and expand its offerings, allowing users to create customized music efficiently. The financial terms of the transaction remain undisclosed.
Shutterstock (NYSE: SSTK) announced its Q3 2020 financial results, reporting a 4% revenue increase to $165.2 million compared to Q3 2019. The company achieved net income of $22.6 million, up from $4.9 million the previous year, driven by improved margins and lower expenses. Subscriber count rose 39% to 255,000, with subscriber revenue increasing by 12% to $67.6 million. Adjusted EBITDA soared 120% to $47.4 million. Cash and cash equivalents reached $383.1 million, indicating a robust liquidity position. A quarterly cash dividend of $0.17 per share has been declared for December 2020.
Shutterstock (NYSE: SSTK) has launched a new premium service, Editorial Video, featuring over 250,000 video clips from partners like Critical Past and Viral Hog. This service meets the growing demand for video content, anticipated to dominate digital consumption by 2022. It enhances Shutterstock's existing collection of over 340 million images and 19 million videos. The simplified licensing model allows clients to license videos on a per-clip basis, improving the user experience. The move reflects Shutterstock's commitment to expanding its editorial offerings in response to market trends.
Shutterstock, Inc. (NYSE: SSTK) announced on Oct. 1, 2020, that Sara Birmingham has joined as Chief Human Resources Officer (CHRO). With over 20 years of HR leadership experience, Birmingham will drive a transformational people strategy to support Shutterstock's growth, focusing on employee engagement and diversity. CEO Stan Pavlovsky emphasized her role in the company's transition to a subscription-based model. Birmingham previously held senior HR roles at Thomson Reuters, championing diversity initiatives. Her appointment underscores Shutterstock’s commitment to enhancing its corporate culture.
Shutterstock, Inc. (NYSE: SSTK) will release its Q3 2020 financial results on October 27, 2020, before market opens. The company will hold a conference call at 8:30 a.m. ET to discuss the results, accessible at (844) 634-1442 in the U.S. A live audio webcast will also be available on Shutterstock's website. After the call, a replay will be accessible until November 3, 2020. As a leading provider in the stock media industry, Shutterstock continues to serve global clients with over 340 million images and 19 million video clips.
Shutterstock, Inc. (NYSE: SSTK) announced the pricing of its public offering of 2,580,000 shares at $48.50 each, with 516,000 shares sold by the company and 2,064,000 by founder Jon Oringer. The offering is expected to close on August 14, 2020. The underwriters have a 30-day option to purchase an additional 387,000 shares. Proceeds will be used for general corporate purposes, while Oringer's sale will not benefit the company. BofA Securities and Morgan Stanley lead the offering, which follows a shelf registration statement filed on August 10, 2020.
