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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.
On March 3, 2022, Shutterstock (NYSE: SSTK) announced a donation of $1 million to support its contributor community in Ukraine amid the ongoing conflict. This initiative aims to assist thousands of photographers, videographers, 3D artists, illustrators, and musicians in the region. CEO Stan Pavlovsky, who has personal ties to Ukraine, emphasized the importance of supporting those affected by the war. Shutterstock remains committed to helping its community during this crisis.
Shutterstock (NYSE: SSTK) reported its Q4 and full-year 2021 financial results, showing a 14% revenue increase to $205.8 million in Q4. Full-year revenue rose 16% to $773.4 million. However, income from operations dropped 47% to $14.6 million in Q4, and net income fell 35% to $16.9 million. Subscriber count grew by 22% to 343,000, while adjusted net income per diluted share decreased to $0.77 from $0.93. For 2022, the company expects revenue between $835 million and $850 million, reflecting 8%-10% growth. Adjusted EBITDA guidance is set at $210-$217 million.
Shutterstock, Inc. (NYSE: SSTK) announced a cash dividend of $0.24 per share, representing a 14% increase from the previous $0.21. The dividend is payable on March 17, 2022, to stockholders of record by March 3, 2022. CEO Stan Pavlovsky expressed confidence in the company's business trajectory, emphasizing their commitment to return value to stockholders. The company continues to expand its extensive content library, which currently includes over 390 million images and 23 million video clips.
Shutterstock, Inc. (NYSE: SSTK) has released its annual Creative Trends Report for 2022, highlighting significant themes in creative projects and marketing. The report identifies time and space as dominant themes, driven by user search data. Key trends include a resurgence of medieval imagery, a fascination with the macabre, and a focus on travel and exploration. Additionally, the report introduces Shutterstock.AI performance data, guiding marketers on content that will yield high engagement. Localized trends for markets like the U.S., Brazil, and Japan are also part of this year's insights.
Shutterstock (NYSE: SSTK) announced it will release its fourth quarter 2022 financial results on February 10, 2022, before the market opens. A conference call to discuss the results will take place at 8:30 a.m. ET, accessible by phone and via a live audio webcast on its website. After the call, a recorded replay will be available until February 17, 2022. As a leading creative platform, Shutterstock continues to grow its vast collection of images and video content, serving a global customer base.
Shutterstock (NYSE: SSTK) announces a collaboration with renowned artist Bradley Theodore for an immersive event at Art Basel Miami Beach. The exhibition includes a VIP launch party on December 1, showcasing a large mural of global icons and live art projects involving guests. This partnership utilizes Shutterstock's vast archive, enhancing cultural engagement and brand visibility. The event will run until December 5, merging art and tech in a dynamic setting, celebrating creativity and collaboration.
Shutterstock (NYSE: SSTK) has unveiled its annual Color Trends Report, analyzing millions of image downloads to identify the most clickable color schemes for marketing campaigns. Notably, shades of green are highlighted as optimal for driving click-through rates and conversions. The report suggests a shift towards more muted and calming colors, featuring Calming Coral, Velvet Violet, and Pacific Pink as the top trends for 2022. These insights aim to assist creatives in making informed choices to enhance engagement in their projects.
Shutterstock, a global creative platform, has announced the promotion of Meghan Schoen to Chief Product Officer (CPO). In her new role, Schoen will lead the execution of the company's product vision, focusing on enhancing content, services, and application lines. This appointment comes on the heels of successful product innovations including AI-driven features. Schoen previously held the position of SVP of Product and played a critical role in several acquisitions. CEO Stan Pavlovsky expressed confidence in her leadership to drive Shutterstock's growth.
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