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 creative platform and data-driven content company whose news flow reflects developments across digital content licensing, data and AI solutions, and corporate strategy. Company press releases and SEC filings highlight regular updates on financial performance, including quarterly and annual results that break out revenue between its Content and Data, Distribution, and Services product offerings, as well as key operating metrics such as subscribers, subscriber revenue and paid downloads.
News about Shutterstock also covers its evolution as a family of brands delivering scalable creative and GenAI solutions. Recent announcements describe a rebrand that emphasizes its role as an essential ingredient for businesses, creatives and brand leaders, along with new AI-powered offerings such as enterprise-focused generative AI tools and AI services for model training, fine-tuning and evaluation. These updates illustrate how the company combines a large collection of licensable assets with data and AI capabilities.
Investors and observers following SSTK news will see coverage of strategic initiatives, including acquisitions referenced in financial disclosures and the pending merger-of-equals transaction with Getty s Holdings, Inc. Company communications detail stockholder approval of the merger agreement, regulatory review processes such as the UK Competition and Markets Authority’s Phase 2 referral, and related milestones and conditions.
This news page aggregates such company-issued releases and related coverage, giving readers a single place to review Shutterstock’s reported financial results, product and brand announcements, AI and data licensing developments, and updates on the proposed merger. For those tracking SSTK, revisiting this page provides ongoing visibility into how the company presents its performance, strategic direction and corporate actions over time.
Shutterstock (NYSE: SSTK) has announced an expanded partnership with Meta, focusing on advancing AI technology. This collaboration aims to utilize Shutterstock's vast content library to support Meta's ongoing AI initiatives. Paul Hennessy, CEO of Shutterstock, emphasized the potential of AI to enhance creativity and highlighted the company's dedication to ethical and artist-centric advancements. This partnership is part of Shutterstock's broader strategic goal to lead in technology and innovation while ensuring fair compensation for content contributors.
On January 10, 2023, Shutterstock (NYSE: SSTK) announced its membership in the Value Stream Management Consortium (VSMC) as a Leader Member, aiming to enhance performance and customer value through value stream management (VSM). This partnership will foster best practices, optimize efficiency, and improve customer experiences by identifying and eliminating delays and waste in workflows. Key executives from Shutterstock expressed their commitment to leveraging VSM principles to strengthen collaboration between product and technology teams, ultimately delivering greater value to users.
Shutterstock (NYSE: SSTK) has partnered with LG AI Research to develop advanced AI technology. This collaboration aims to integrate LG's EXAONE AI image generation model and creative toolkit into Shutterstock's platform, enhancing the creative workflow for users. The initiative includes compensating contributors whose work trains the AI model. With AI image captioning, users will benefit from improved asset organization. Upcoming features from this partnership will launch in 2023, evidencing Shutterstock's commitment to innovative and ethical AI applications.
On October 25, 2022, Shutterstock (NYSE: SSTK) announced an expanded partnership with OpenAI to enhance creative tools and ethical AI content creation. This initiative includes launching a fund to compensate artists for their contributions to AI datasets, ensuring transparency and responsibility in AI-generated content. The collaboration will enable users to generate images instantly through OpenAI's DALL-E, enriching creative workflows. Shutterstock aims to set industry standards for compensating contributors and promoting ethical AI practices, positioning itself as a leader in the evolving creative technology landscape.
Shutterstock (NYSE: SSTK) reported third quarter 2022 financial results, marking a 5% revenue increase to $204.1 million, with a notable 10% rise on a constant currency basis. Net income surged 44% to $23 million, equating to $0.64 per diluted share. Adjusted EBITDA climbed 26% to $56 million, reflecting strong profitability despite macro challenges. However, free cash flow dropped 52% to $21.4 million. The Company revises its full-year revenue estimate to $815 million due to weakened European demand. An exciting partnership with OpenAI aims to leverage Generative AI for creative storytelling.
On October 20, 2022, Shutterstock (NYSE: SSTK) announced a strategic partnership with FILMPAC, a premium footage provider, to distribute FILMPAC's extensive collection of cinema-quality videos through Pond5 and Shutterstock platforms. This partnership grants customers access to approximately 100,000 high-quality video assets produced by top cinematographers, enhancing creative storytelling capabilities. The content will be available as part of Shutterstock's Select collection and Pond5's Marquee collection, sold on an à-la-carte basis for flexibility in consumer purchases.
Shutterstock (NYSE: SSTK) will report its third quarter 2022 business and financial results on October 25, 2022, before the market opens. Following the report, a conference call will be held at 8:30 a.m. ET to discuss the results, accessible via the company’s website. Investors can register for the Q&A session to obtain dial-in information. A replay of the conference call will be available on the website on the same day at approximately 10:30 AM ET.
Shutterstock (NYSE: SSTK) announced the appointment of Sejal Amin as the new Chief Technology Officer (CTO), effective September 12, 2022. With over 20 years of experience, Sejal is expected to lead the digital transformation of Shutterstock's technology platform, enhancing customer and contributor experiences. CEO Paul Hennessy expressed confidence in her leadership skills, emphasizing the company’s shift towards becoming a full-service creative platform. Sejal previously held senior technology roles at Khoros and Thomson Reuters.
Fiverr International Ltd. has partnered with Shutterstock, enabling easy access for freelancers to millions of commercially licensed images, videos, and music assets on Fiverr's platform. This integration aims to empower freelancers by providing essential resources for their digital services, enhancing the quality of their offerings. The collaboration assures businesses that the media used in their projects is properly licensed for commercial use. This move reflects Fiverr's commitment to supporting its freelance community, broadening their resources across various categories.
Shutterstock (NYSE: SSTK) has rebranded The Newsroom to Splash at the Visa Pour L'Image Festival in Perpignan, France, following its acquisition of Splash News in May 2022. The rebranding aims to enhance Shutterstock's position in premium celebrity and entertainment content.
Clients will still access over 30 million images and new content via a network of more than 4,000 photographers. Additionally, Shutterstock boasts The Vault, containing over 60 million multimedia assets.
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