NEW YORK, July 27, 2021 /PRNewswire/ -- Shutterstock, Inc. (NYSE: SSTK), a leading global creative platform offering full-service solutions, high-quality content, and tools for brands, businesses and media companies, today announced the launch of Shutterstock.AI, a newly formed subsidiary with insights and data at the heart of its mission. Additionally, the newly established Shutterstock.AI has acquired three leading AI platforms, Pattern89, Datasine, and Shotzr.
With these three acquisitions, Shutterstock.AI will continue to rapidly develop its own predictive performance capabilities to help creatives and customers accomplish their goals by making more data-informed content decisions.
In the near term, Shutterstock.AI will commercialize data assets within Shutterstock's immense content library, which includes over 400 million images, videos, music tracks, and 3D models, as well as partner with innovative companies to grow their capabilities in computer vision and content insights to power the next generation of AI models.
"With these three acquisitions, Shutterstock.AI will help our customers globally solve the biggest creative challenge they have -- discovering and selecting the right content that is relevant, and that resonates with audiences. We want our customers to create with confidence," said Stan Pavlovsky, Chief Executive Officer at Shutterstock. "To complement this, Shutterstock.AI will also help new customer segments accelerate the development of artificial intelligence, by unlocking the power of the data associated with our vast content library. From autonomous vehicles, to content moderation, to AI powered process automation, Shutterstock.AI's high quality data and services will enable companies to develop the next generation of technologies."
Shutterstock.AI sees the future of creativity through the lens of performance, as the engine that will transform customers' ideas into accomplishments. With the acquisition of these three creative AI companies, and the creation of Shutterstock.AI, Shutterstock is redefining what creativity means, and helping solve our customers' problems by expertly navigating the availability of content. Looking ahead, Shutterstock.AI will develop predictive creative AI models, leveraging cutting edge technology to help customers make more informed content choices, providing more confidence about the performance of what they produce.
About the Acquired Companies:
Pattern89: Pattern89 provides industry-level and custom insights for predictive performance at scale. Utilizing these insights allows marketers, agencies and creatives to make the right decisions -- down to colors, copy and even emojis -- without having to live A/B test. Pattern89's sophisticated workflow allows real time monitoring of campaign performance, as well as one-click optimization. www.pattern89.com
Datasine:Datasine's AI provides the insights and acumen for campaign decision-making. Their team of data scientists and psychologists have created algorithms that analyze the creative elements of an ad better than humans. The company's artificial intelligence reviews past campaign performance of digital assets and provides recommendations for optimizing their performance. www.datasine.com
Shotzr: Shotzr uses human responsiveness to imagery, applying insights to any image for predictive analysis to ensure customers select the right image for social media and digital campaigns that will resonate with audiences. www.shotzr.com
The aggregate cash consideration paid for Pattern89, Datasine, and Shotzr was approximately $35 million. Shutterstock will provide additional detail during its second quarter earnings call on July 27th, 2021.
For more information, please visit www.shutterstock.AI.
About Shutterstock
Shutterstock, Inc. (NYSE: SSTK), is a leading global creative platform offering full-service solutions, high-quality content, and tools for brands, businesses and media companies. Directly and through its group subsidiaries, Shutterstock's comprehensive collection includes high-quality licensed photographs, vectors, illustrations, videos, 3D models and music. Working with its growing community of over 1.8 million contributors, Shutterstock adds hundreds of thousands of images each week, and currently has more than 380 million images and more than 22 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 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; TurboSquid, a leading 3D content marketplace; 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. Examples of forward-looking statements include, but are not limited to, statements regarding management's future business, future results of operations or financial condition, including new or planned features, products or services, management strategies, Shutterstock's expectations regarding financial outlook and future growth and profitability, statements regarding anticipated effects of the Company's acquisition of Pattern89, Datasine, and Shotzr and statements regarding anticipated improvements in operations. You can identify forward-looking statements by words such as "may," "will," "would," "should," "could," "expect," "anticipate," "believe," "estimate," "intend," "plan," "opportunities" and other similar expressions. However, not all forward-looking statements contain these words. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors including risks related to any changes to or the effects on liabilities, financial condition, future capital expenditures, revenue, expenses, net income or loss, synergies and future prospects; our inability to continue to attract and retain customers and contributors to our online marketplace for creative content; competitive factors; our inability to innovate technologically or develop, market and offer new products and services; costs related to litigation or infringement claims, indemnification claims and the inability to prevent misuse of our content; our inability to increase market awareness of Shutterstock and our products and services; our inability to effectively manage our growth; our inability to grow at historic growth rates or at all; technological interruptions that impair access to our websites; assertions by third parties of infringement of intellectual property rights by Shutterstock, our inability to effectively manage risks associated with operating internationally; our exposure to foreign exchange rate risk; our inability to address risks associated with sales to large corporate customers; government regulation of the internet; increasing regulation related to the handling of personal data; actions by governments to restrict access to our products and services; our inability to effectively expand our operations into new products, services and technologies; our inability to protect the confidential information of customers; increased tax liabilities associated with our worldwide operations, including our exposure to withholding, sales and transaction tax liabilities; the effect of the Tax Cuts and Jobs Act of 2017; public health crises including the COVID-19 pandemic; general economic and political conditions worldwide, including disruption and volatility caused by COVID-19 and any resulting economic recession; our inability to successfully integrate acquisitions and the associated technology and achieve operational efficiencies; and other factors and risks 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.
SOURCE Shutterstock, Inc.
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FAQs
What is Shutterstock AI? ›
Shutterstock is the first AI image generator on the market that compensates contributors for their roles in the generative AI process. Through the Shutterstock Contributor Fund, we directly compensate Shutterstock contributors when their content is used in the development of generative models.
What has Shutterstock recently acquired? ›NEW YORK, May 11, 2022 /PRNewswire/—Shutterstock, Inc. (NYSE: SSTK), the leading global creative platform for transformative brands and media companies, today announced the acquisition of Pond5, the world's largest video-first content marketplace for filmmakers, media organizations, and marketers worldwide.
Who bought Shutterstock? ›| Type | Public |
|---|---|
| Owner | Jon Oringer (33.3%) |
| Number of employees | 1,148 |
| Subsidiaries | TurboSquid Bigstock Offset Rex Features BEImages PremiumBeat Rocketstock |
| Website | www.shutterstock.com |
Shutterstock will not allow AI-generated content to be submitted for sale on our platform. We want to ensure contributors can prove IP ownership of all submitted content and also want to be confident that artists are properly compensated if and when their work is used in AI training models.
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Most Downloaded Images FAQ
The best-selling style of images varies from one year to the next, but overall, images of people (or lifestyle photography) are an all-time best-selling genre in stock photography. Other concepts like landscapes, flowers, and beaches are also consistently popular.
We have compiled a list of solutions that reviewers voted as the best overall alternatives and competitors to Shutterstock, including Storyblocks, iStock, 123RF, and PixaBay.
What is Shutterstock known for? ›The Shutterstock collection offers photos, illustrations, vectors, video, and music for download by businesses, marketing agencies, and media organizations. We work closely with over 80,000 contributing artists to license their content—they're photographers, videographers, and illustrators from around the world.
How much does Shutterstock pay? ›Your earnings rate increases as more of your content is licensed. Earn $0.04 on images and 10% on videos when an artist signs up with your link and their work is downloaded. Earn 20%, up to $200.00, on a customer's first payment when they use your link to sign up.
How much money can you earn from Shutterstock? ›Shutterstock Contributor Earnings
You earn between 15% and 40% commission when one of your images or videos is downloaded at Shutterstock. This means you get paid $0.10 to $5.80 for images, $10.20 to $39.80 for extended licenses, and $1.25 to $47.92 for each video.
Where does Shutterstock get their images? ›
Like Adobe Stock, Shutterstock encourages photographers and videographers to upload their images in exchange for earning royalties when those images sell. The royalties range from a low of 25 cents per photo to a high of $120.
Who owns images created by AI? ›If there is no human author, section 9 says that for computer-generated works, “the author shall be taken to be the person by whom the arrangements necessary for the creation of the work are undertaken”. If the text prompt is enough, then the human user entering that prompt is the author.
What type of AI is image processing? ›Convolutional Neural Network
Convolutional Neural Networks (ConvNets or CNNs) are a class of deep learning networks that were created specifically for image processing with AI.
Even as Shutterstock publicly embraces AI generative and editing tools, The Verge reports that the firm will not allow contributors to sell AI-generated artwork that has not been created using its partnership with OpenAI, citing copyright concerns over the provenance of images used to train non-DALL-E image models.
What AI company did Warren Buffett invest in? ›With this large initial investment, Taiwan Semiconductor instantly becomes a top-10 holding for Berkshire Hathaway, illustrating Buffett and his team's high level of conviction in the investment.
How much of the stock market is controlled by AI? ›In the U.S. stock market, about 70% of the comprehensive trading volume is initiated through algorithmic trading.
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Landscapes that were inaccessible before are now at the top of the stock photography trend. Images that have strong leading lines will continue to be in demand for stock photography. Photos that capture relaxing scenes like beaches, snow-capped trees and fields of flowers will be the most popular.
Who is cheaper than Shutterstock? ›Unsplash is a great alternative to Shutterstock, especially if you are on a tight budget. Unlike Shutterstock, which has over 400 million images available for purchase or subscription plans, Unsplash offers 4 million images for free.
Can anyone sell on Shutterstock? ›You must be at least 18 years old to submit your work to Shutterstock. Your work must be original and you must be the copyright owner of the work you submit. Submit.shutterstock.com is the site for our contributing artists and shutterstock.com is for customers who license your work.
Why is Shutterstock blocked? ›
Some examples for account closure include: It appears you might be submitting content to which you don't own or control the copyright. You have submitted content that a different contributor has already submitted to Shutterstock. Shutterstock has received multiple DMCA Notices against your content.
How legit is Shutterstock? ›Shutterstock has an average rating of 1.77 from a total of 2918 reviews, indicating that most customers are generally dissatisfied with their purchases.
Is Shutterstock a legit Company? ›Shutterstock is a leading global provider of high-quality licensed photographs, vectors, illustrations, videos and music to businesses, marketing agencies and media organizations around the world.
How much does Shutterstock cost per image? ›How much does a Shutterstock photo cost? Depending on what buying method you use. A Shutterstock photo can cost between $0.26 and $9.80 with a Standard license. For an Extended license, the price ranges between $67.96 and $99.50 per image.
Does Shutterstock own my images? ›Although there is a charge for Shutterstock images, once you have purchased them, they become what is known as royalty-free. This means that you are granted copyright to the intellectual property and have the license to use what you buy in multiple ways on multiple applications.
How much do you get paid per stock photo? ›On average, stock photographers make $0.02 per image per month with stock photos, while professionals make $0.05–$0.25 per image per month. Royalty-free sales earn between $0.10 and $99.50, while extended licenses bring up to $500. Stock photo agencies pay $0.32 per sale of a royalty-free license on average.
How long does it take to make money on Shutterstock? ›While stock photography is a money-making opportunity for anyone, don't expect easy and quick revenue. Random sales may appear in 1-2 months (this may be shorter for some stock photography agencies, see Shutterstock vs. Alamy), but regular income is only realistic in 1-3 years.
Can I sell Shutterstock images? ›All images on Shutterstock (except for those marked as “editorial use only”) can be used for commercial purposes. With a standard license, you can use images for marketing and advertising only. With an Extended license, you can also use the images in products for resale.
What happens if you use Shutterstock images without paying? ›Yes, you can use Shutterstock images for free, but only the ten images are included in your free trial. You can also use the one weekly photo and one vector you get with the free account. After that, you'll have to pay for all Shutterstock images, starting at $0.22 per image.
Why am I being charged by Shutterstock? ›The most common reason for being charged from STK*Shutterstock is our auto renew feature. Sometimes, customers forget that it is there by default to provide uninterrupted access to the more than 300 million downloadable images, illustrations and video clips on our website.
How do I stop my Shutterstock from charging me? ›
Simply log in to your Shutterstock account, access your Plans page, and change the auto renewal option to “Off”. Turning auto renewal off does not prevent you from using the downloads remaining in your current plan, but will prevent your plan from renewing the following month or year.
Is Shutterstock a legit company? ›Shutterstock is a leading global provider of high-quality licensed photographs, vectors, illustrations, videos and music to businesses, marketing agencies and media organizations around the world.
Can I sell AI generated art on Shutterstock? ›Even as Shutterstock publicly embraces AI generative and editing tools, The Verge reports that the firm will not allow contributors to sell AI-generated artwork that has not been created using its partnership with OpenAI, citing copyright concerns over the provenance of images used to train non-DALL-E image models.
What is the Shutterstock controversy? ›Shutterstock's censorship feature appears to have been immediately controversial within the company, prompting more than 180 Shutterstock workers to sign a petition against the search blacklist and accuse the company of trading its values for access to the lucrative Chinese market.
How much money does Shutterstock pay per photo? ›You earn between 15% and 40% commission when one of your images or videos is downloaded at Shutterstock. This means you get paid $0.10 to $5.80 for images, $10.20 to $39.80 for extended licenses, and $1.25 to $47.92 for each video. In other words, Shutterstock pays you based on your current image and video levels.
How much money does Shutterstock pay per download? ›Earn $0.04 on images and 10% on videos when an artist signs up with your link and their work is downloaded. Earn 20%, up to $200.00, on a customer's first payment when they use your link to sign up.
Do you have to pay taxes on Shutterstock? ›All Shutterstock contributors are required to have a valid tax form on file, so we can withhold taxes at the appropriate rate and meet our obligations with the U.S. Internal Revenue Service. Shutterstock will not issue payments to contributors who do not have an approved tax form on file.
Can I use Shutterstock images forever? ›Q: If my subscription expires, do I keep the right to use the images I've downloaded? A: Yes. Once you have used an image in a project, it's yours to use forever.
How much does it cost to sell on Shutterstock? ›How much does a Shutterstock photo cost? Depending on what buying method you use. A Shutterstock photo can cost between $0.26 and $9.80 with a Standard license. For an Extended license, the price ranges between $67.96 and $99.50 per image.
Do people make money from Shutterstock? ›As a Shutterstock contributor, you will earn a percentage of the price Shutterstock receives for licensing your content. There are 6 separate earnings levels for images and for videos, ranging from 15% up to 40%. You can graduate through them independently based on your download count in each category.
Is it legal to sell AI-generated art? ›
Courts have ruled that AI cannot hold copyright, which by corollary also means that AI-generated art sits in the public domain. This legal loophole has angered many professional artists whose art is used to train the AI.
How to make money with AI-generated art? ›One of the most profitable ways to make money from AI art is to create print-on-demand products using your art. All you need to do is upload your designs to websites like TeeSpring and RedBubble. These websites will print your artwork on various products, such as t-shirts, mugs, posters and notebooks.