SHUTTERSTOCK ACQUIRES SPLASH NEWS, ONE OF THE WORLD'S LEADING ENTERTAINMENT NEWS NETWORKS
Shutterstock (NYSE: SSTK) has acquired Splash News, enhancing its Editorial Newsroom with over 27 million images and a network of 4,000 photographers. This acquisition aims to provide an extensive archive for media companies, featuring content from notable events and celebrities. Now hosting 30 million images with a daily upload of 40,000, Shutterstock positions itself as a leader in entertainment content. The deal enhances service offerings with a concierge feature for clients, reinforcing its market position while terms of the transaction remain undisclosed.
- Acquisition expands Shutterstock's Editorial Newsroom to 30 million images.
- Daily uploads increased to 40,000 images, enhancing content availability.
- Strengthens Shutterstock's position in the entertainment content market.
- None.
This acquisition bolsters Shutterstock Editorial's Newsroom offering with a global photographer network of 4000+ contributors, and an archive of over 27 million images across celebrity, red carpet and live events
NEW YORK, May 31, 2022 /PRNewswire/ -- Shutterstock, Inc. (NYSE: SSTK), the leading global creative platform for transformative brands and media companies, today announced the acquisition of Splash News, one of the world's leading entertainment news networks for newsrooms and media companies. A leading source for image and video content across celebrity, red carpet and live events for over three decades, Splash News is an industry leader with customers including E! News, People, Daily Mail, TMZ, Dow Jones, Reach and News UK. Splash's comprehensive collection includes an archive of over 27 million images, and a contributor network of more than 4,000 photographers.
This acquisition solidifies Shutterstock Editorial's Newsroom offering as the premium destination for its global customers for unparalleled access to premium exclusive content. The Newsroom will now host an archive of over 30 million images, with a live feed of 40,000 images uploaded per day from a network of over 4,000 photographers. This is combined with The Vault, Shutterstock's archive of over 60 million photo and video assets, making it one of the largest archival collections in the world. Contributors will now have their work showcased to Shutterstock's millions of customers worldwide. Additionally, the Splash platform is an easy-to-use tool for contributors to engage with, providing transparency and enhancing speed to market within a complete end-to-end experience.
Splash's vast collection provides a chronicle of some of the most iconic moments from the last three decades – from images of George Clooney and Amal Alamuddin's 2014 wedding in Venice, to photographs of "Bennifer" from when they dated in 2002. A thriving archive of over 27 million images joins Shutterstock Editorial's archive of over 60 million assets, making this one of the largest Editorial photo and video archives in the industry. This is combined with white glove service from a team of market experts to package key trending stories, archival and UGC content, to help our global clients tell the story behind the story.
Since its inception in 1990, Splash has built strong brand recognition and trust within the entertainment industry. Over more than three decades, Splash has developed a loyal, expanding contributor network of over 4,000 photographers around the world, who upload over 20,000 assets each day. This is combined with over 20,000 images uploaded each day across Shutterstock Editorial.
"Splash has been revered for decades as the best in the business for premium celebrity and entertainment content, and with this acquisition, Shutterstock will own the entertainment category," said Jamie Elden, Chief Revenue Officer at Shutterstock. "The addition of Splash to The Newsroom will provide our global customers with an unrivaled experience through our unique concierge service, our comprehensive coverage of events, and one of the largest archive collections in the world."
"Splash is an established and respected brand that has showcased some of the most significant pop culture moments, and we're thrilled to welcome them to the Shutterstock family," said Candice Murray, Vice President of Editorial at Shutterstock. "The fusion of Splash, a respected legacy brand, and the Shutterstock Newsroom, an elevated premium service offering, will allow us to scale our entertainment vertical. With this union, we are positioning Shutterstock as the market leader for entertainment, providing our global customer base with best-in-class editorial content."
Terms of the transaction were not disclosed.
About Shutterstock, Inc.
Shutterstock, Inc. (NYSE: SSTK), is the leading global creative platform for transformative brands and media companies. Directly and through its group subsidiaries, Shutterstock's comprehensive collection includes high-quality licensed photographs, vectors, illustrations, 3D models, videos and music. Working with its growing community of over 2 million contributors, Shutterstock adds hundreds of thousands of images each week, and currently has more than 405 million images and more than 25 million video clips available.
Headquartered in New York City, Shutterstock has offices around the world and customers in more than 150 countries. The Company also owns Splash News, the world's leading entertainment news agency for newsrooms and media companies worldwide, Pond5, the world's largest video marketplace, TurboSquid, the world's largest 3D content marketplace, PicMonkey, a leading online graphic design and image editing platform; Offset, a high-end image collection; Shutterstock Studios, an end-to-end custom creative shop; PremiumBeat, a curated royalty-free music library; Shutterstock Editorial, a premier source of editorial images and videos for the world's media; Amper Music, an AI-driven music platform; and Bigstock, a value-oriented stock media offering.
For more information, please visit www.shutterstock.com and follow Shutterstock on Twitter and on Facebook.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking. Examples of forward-looking statements include, but are not limited to, statements regarding guidance, industry prospects, future business, future results of operations or financial condition, future dividends, our ability to consummate acquisitions and integrate the businesses we have acquired or may acquire into our existing operations, new or planned features, products or services, management strategies, our competitive position and the COVID-19 pandemic. You can identify forward-looking statements by words such as "may," "will," "would," "should," "could," "expect," "aim," "anticipate," "believe," "estimate," "intend," "plan," "predict," "project," "seek," "potential," "opportunities" and other similar expressions and the negatives of such expressions. However, not all forward-looking statements contain these words. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from those expressed or implied by the forward-looking statements contained herein. Such risks and uncertainties include, among others, those discussed under the caption "Risk Factors" in our most recent Annual Report on Form 10-K, as well as in other documents that the Company may file from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, Shutterstock's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. The forward-looking statements contained in this press release are made only as of this date and Shutterstock assumes no obligation to update the information included in this press release or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.
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SOURCE Shutterstock, Inc.
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