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Shutterstock, Inc. is an American provider of stock photography, stock footage, stock music, and editing tools;[4] it is headquartered in New York.[5] Founded in 2002 by programmer and photographer Jon Oringer,[6] Shutterstock maintains a library of around 200 million royalty-free stock photos,[7] vector graphics, and illustrations,[8] with around 10 million video clips and music tracks available for licensing.[8] Originally a subscription site only,[9] Shutterstock expanded beyond subscriptions into à la carte pricing in 2008.[10] It has been publicly traded on the New York Stock Exchange since 2012.[11][12] In January 2025, it was announced that the company would be merging with Getty Images.[13]

Key Information

History

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Founding and early years (2003–2011)

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Shutterstock was founded in 2003 by American entrepreneur and computer programmer Jon Oringer.[14] Creating his own online marketplace,[5] Oringer initially uploaded 30,000 of his own stock photos and made them available via subscription,[5] with unlimited downloads and a monthly starting fee of US$49.[5] When demand exceeded his photo supply,[5] he began hiring additional contributors.[15][5] In 2006, the firm claimed that it was the "largest subscription-based stock photo agency in the world" with 570,000 images in its collection.[16] The firm branched into film in 2006 with the launch of Shutterstock Footage.[16] By 2007, the company had 1.8 million photos.[9] Insight Venture Partners invested in the company that year.[5] Shutterstock expanded beyond subscriptions into à la carte pricing in August 2008, with its "On Demand" service removing daily download limits.[10]

On September 23, 2009, Shutterstock announced that it had purchased Bigstock, a rival credit-based microstock photography agency.[17] Fast Company argued the deal put "Shutterstock on a competitive playing field with Getty, whose iStock Photo is also credit-based."[18] Shutterstock had 11 million royalty-free stock images by early 2010.[19] In February 2011, it announced a two-year partnership with the American Institute of Graphic Arts (AIGA).[20]

Acquisitions and IPO (2012–2013)

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Shutterstock logo used from 2012 to 2025.

By April 2012 the company had 18 million royalty-free stock images.[19][21] The firm announced the Shutterstock Instant tool in May 2012, which displayed images in an interlocking mosaic to increase viewing speed.[22] The product was launched by the newly formed Shutterstock Labs, which develops tools and interfaces for Shutterstock, among other projects.[22][23] In May 2012, Shutterstock filed for an initial public offering on the New York Stock Exchange, which it completed on October 17, 2012, under the ticker SSTK.[11][12]

Shutterstock, Inc. announced Spectrum, a new "image discovery tool," in March 2013.[23] At the time, the firm had 24 million licensable photos, vectors and illustrations in its portfolio.[23] In August 2013, Shutterstock and Facebook announced a partnership to integrate Shutterstock's library within Facebook's Ad Creator, allowing advertisers to select from Shutterstock's images when creating ads.[24] At the time, Shutterstock was available in 20 languages including Thai, Korean, French, Italian, Portuguese, Spanish, German, Russian, Chinese, and Japanese.[25]

Offset and new partnerships (2013–2014)

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In September 2013, Shutterstock launched Offset, marketplace prioritizing high end curated photos from established artists.[26] In October 2013, the firm stated it served 750,000 customers, with 30 percent of those customers in Europe.[27] Shutterstock's shares had reached a $2.5 billion market value by the fall of 2013,[5] while revenue for 2013 was US$235 million.[28]

In March 2014, Shutterstock acquired Webdam, a provider of online digital asset management software.[29] In May 2014, the firm partnered with Salesforce to integrate Shutterstock's image library into Salesforce's Social Studio.[30] Shutterstock debuted its Palette tool in July 2014, a "multi-color image discovery tool."[31] The firm announced it had surpassed 2 million video clips on September 2, 2014.[32] Shortly afterwards it revealed a new app meant to help contributors with uploading and categorizing photos.[33] Shutterstock's revenue was $328 million in 2014, an increase of 39 percent from 2013.[14] In 2014, Shutterstock paid "over $83 million to its roughly 80,000 contributors."[14]

Recent developments (2015–present)

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In January 2015, Shutterstock acquired both Rex Features, Europe's largest independent photo press agency for $33 million,[34] and PremiumBeat, a stock music and sound effects service, for $32 million.[35] Penske Media Corporation formed a partnership with Shutterstock in June 2015 to create and license entertainment and fashion images. According to the terms of the deal, by 2016 Shutterstock would have an exclusive right and license to PMC's archive,[36] which included magazines such as Variety, Women's Wear Daily,[34] and Deadline.[14] Crain's wrote that with the partnership, "Shutterstock, a provider of stock imagery and music tracks, is stepping into the world of red carpets and fashion runways—and taking a key provider of fashion and entertainment photos and video away from archrival Getty Images.".[34] The company also acquired BEImages, another largest independent photo press agency.

By March 2016, the company had "over 100,000 contributors," with around 70 million images and 4 million video clips available for licensing and sale.[8] That month Shutterstock announced it would be distributing material from the Associated Press in the United States, with the deal to last 3 years and cover 30 million photos and around 2 million videos. The photos were expected to go live in April.[8] According to Entrepreneur, Shutterstock also had an "active customer base of 1.4 million people in 150 countries."[37]

In July 2016, Shutterstock revealed a partnership with Google advertising products including AdSense, AdWords, and AdMob.[38] The integration allows marketers creating Google ads to directly access Shutterstock images and track ad performance via the Shutterstock API.[39] In October 2016, the firm announced a distribution deal with the European Pressphoto Agency.[40]

In February 2018, Shutterstock invested $15 million into China based ZCool,[41] building on the operational relationship the two firms have had since 2014 when ZCool first became the exclusive distributor of Shutterstock creative content in China.[41][42] Webdam, which Shutterstock itself acquired back in 2014, was sold to Amsterdam-based Bynder for $49.1 million to move Shutterstock's strategy away from digital asset management.[43] Shutterstock later entered into a partnership with Tencent Social Ads, the online advertising subsidiary of Tencent.[42]

In May 2018, IBM's Watson Content Hub, a content management system (CMS) for marketers to create content using the IBM Watson AI search tool,[44] announced its partnership with Shutterstock, beginning July 2018.[45]

In May 2020, the company announced that it updated its contributor earnings structure as of June 1, from a minimum flat-rate to a percentage-based model. Contributor income may be reduced from the previous minimum payment per downloaded image of 25 cents to 10 cents, or 15 percent of sales, at the entry level, with author ratings reset to zero at the beginning of each year.[46] Many photographers voiced their opposition to the new changes.[47]

In May 2022, the company acquired Pond5, an online marketplace for royalty-free and editorial video, consisting of over 30 million video clips, 1.6 million music tracks, and 1.7 million sound effect assets at the time for $210M.[48][49] Also in May 2022, the company acquired Splash News, an entertainment news network for newsrooms and media companies.[50]

Shutterstock announced it would buy Giphy from Meta Platforms for $53 million in cash in May 2023, after Meta was ordered by UK's Competition and Markets Authority to divest it.[51][52]

In July 2023, Shutterstock announced a six-year partnership with OpenAI in which it would provide access to its audio, video and image libraries as training data for DALL-E. In turn, OpenAI would provide generative AI capabilities to Shutterstock's mobile users through Giphy database.[53][54]

Shutterstock announced it entered into a definitive agreement to acquire Envato for $245 million in cash in May 2024, thus adding 650,000 Envato subscribers to its subscriber base and increasing its library of creative assets.[55] The acquisition was formally finalized at the end of July 2024.[56]

In January 2025, it was announced that the company would be merging with Getty Images.[57] The UK's Competition and Markets Authority launched an investigation into the proposed merger in August 2025.[58]

Corporate governance

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Facilities and staff

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Shutterstock is headquartered in New York. In October 2013 Shutterstock opened its new European headquarters in Berlin, Germany[27] and by March 2014, Shutterstock had additional offices in Amsterdam, Chicago, Denver, London, Montréal, Paris and San Francisco.[27] After maintaining its New York headquarters for years in a Wall Street office,[5] in March 2014 Shutterstock relocated into the Empire State Building.[59] According to Inc., the office was selected with the goal of decreasing commute times for New York employees.[59] The new location was built with no private offices, instead with 23 "pop-in rooms" for private meetings and conferences when needed.[59]

After its founding in 2003 with CEO Jon Oringer as the sole employee, by 2007 Shutterstock had grown to 30 people. In 2010 Oringer hired Thilo Semmelbauer as COO, who had previously worked with TheLadders.com and Weight Watchers.[5] With 295 employees as of October 2013,[5] the firm had grown to 700 employees as of 2016.[60] In 2014, Fast Company published an article featuring Shutterstock as an example of a successful "intrapreneur"-reliant company, touting the company's "hackathons" for fostering staff creativity.[61]

In an attempt to penetrate the Chinese market, Shutterstock implemented compliance with Chinese law by censoring results for Chinese users. Over 180 Shutterstock employees signed a petition against the decision.[42]

Business model

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Shutterstock licenses media for online download on behalf of photographers, designers, illustrators, videographers and musicians,[5] maintaining a library of almost 200 million royalty-free stock photos, vector graphics, and illustrations.[62] Shutterstock also has 10 million video clips and music clips in its portfolio.[32] While Shutterstock currently has several payment models, The Atlantic wrote in 2012 that Shutterstock "pioneered the subscription approach to stock photo sales, allowing customers to download images in bulk rather than à la carte."[21] The Atlantic further wrote that Shutterstock is "a web community in the manner of a Facebook or a Twitter or a Pinterest, with its value relying almost entirely on the enthusiasms of its contributors."[21]

With potential contributors able to apply to the site for free,[14] Shutterstock has a team of reviewers "charged with ensuring editorial consistency and quality."[21] As of 2016, if one of ten of a photographer's pictures are accepted, then they become a Shutterstock contributor.[63] As of 2011, only around 20 percent of applicants were approved, and "less than 60 percent of all the images uploaded by those approved contributors were ultimately put up on the site."[21] Once approved, contributors can begin uploading their work through the website. They supply keywords, categorize the images, and submit them to the "inspection queue", where images are examined for quality, usefulness and copyright and trademark laws. Each time an image is downloaded, the photographer receives a flat rate.[9][64][65] Explains Vice, "photographers retain copyright over their images, but Shutterstock is given full permission to market, display, and license the image to the customers on their site without final approval from the photographer."[14] As of March 2015, contributors added around 50,000 new images daily, and Shutterstock had paid around $250 million to contributors since its founding. In 2014, it paid $80 million to contributors.[62]

Products

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Shutterstock film and music

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Shutterstock began licensing stock video in February 2006. Shutterstock Footage operates similarly to their image library, offering video clips by subscription or on a per-clip basis.[16] As of 2014, Shutterstock Footage contained around 2 million royalty-free video clips.[32] Shutterstock Music debuted later, with new content submittable by contributors.[66]

Shutterstock apps

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Shutterstock for iPad was launched in November 2011,[67] and in May 2012 the app received a Webby Award for People's Voice in the tablet app category for utilities and services.[68] Shutterstock for iPad was followed in 2012 by a universal iOS app,[69] which by 2013 had been downloaded 650,000 times. The iOS app originally lacked the ability to download images, with that functionality added later.[70] The universal iOS app also included new features for Shutterstock, including the ability to filter image searches by color.[69] Shutterstock debuted an Android App in 2013,[70] and in September 2014, Shutterstock launched an app dedicated to its contributors, both available for iOS and Android. The app allows contributors to upload, keyword and categorize new images.[33]

Shutterstock Labs

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In 2012, Shutterstock launched Shutterstock Labs, a lab for "exploratory tools and products."[23] In May 2012, Shutterstock Images LLC announced the Shutterstock Instant tool, which according to the company was inspired by Shutterstock for iPad. The interface displays images in an interlocking mosaic view, allowing users to view more photos in less time.[22] Shutterstock Instant was made available on the Shutterstock Labs website.[22][23] The prototype for the search tool Spectrum was launched on March 21, 2013. With development in-house by Shutterstock Labs, the tool "indexes hexagram data to yield search results by color."[23] In July 2014, Shutterstock launched Palette, which allows users to add colors to the terms of the search, in addition to keywords.[31]

Computer vision

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Shutterstock has developed a number of tools utilizing a "convolutional neural network" that it created[37] to help with reverse image search technology.[71] The network is "essentially a computer system that is trained to recognize images—there are millions of specific items such as cats, bicycles, the night sky—and pull up the most relevant photos." It "breaks down the key components of a photo numerically, drawing from its pixel data instead of metadata that is pulled from those tags and keywords."[37]

In March 2016, Shutterstock debuted its Reverse Image Search tool. According to Entrepreneur, with the tool "users can upload an image, either from Shutterstock or another source, and the tool will call up images that look like and have a similar feel to the original photo."[37] The reverse image search allows users to not just search by keywords, but to also find images based on "color schemes, mood, or shapes."[71] Later that month, the firm debuted its Similar Search and Discovery tools,[37] with the "similar search" option provided beneath photos on its website.[71]

AI Image Generator

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Shutterstock also offers an online service for generating images, based on DALL-E 2.[72]

Criticism

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Censorship of results in China

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See also: Chinese censorship abroad

In September 2019, at the request of the Chinese government,[73] engineers at Shutterstock began designing a regional application to comply with government censorship in China, and implemented it in October 2019.[42] The system is designed to return no results to users with IP addresses in China in response to six queries for forbidden keywords or phrases: "Xi Jinping", "Mao Zedong", "Taiwan flag", "dictator", "Chinese flag", "yellow umbrella", or variations.[42]

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In July 2020, Users at Wikimedia Commons reported widespread copyright theft at Shutterstock. Images from many Wikimedia contributors were hosted on the site. Shutterstock were first made aware of the problem in April 2020, but no action has been taken to remove the images nor any compensation offered.[74] The copyright theft has continued into 2022.[75]

See also

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References

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[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

Shutterstock

View on Grokipedia
from Grokipedia

Shutterstock, Inc. is an American publicly traded technology company that operates a global online marketplace for licensing commercial digital content, including stock photographs, videos, illustrations, music, and editorial assets. Founded in 2003 by software entrepreneur Jon Oringer and headquartered in New York City, the company connects over one million contributors with businesses and individuals seeking royalty-free visual and audio media. Its platform facilitates microstock licensing, where content is sold via subscription or on-demand models, amassing a library exceeding 450 million images with daily additions of around 200,000. Shutterstock went public on the New York Stock Exchange in 2012 under the ticker SSTK and has expanded through acquisitions and technological integrations, including generative AI tools for content creation and data licensing for AI training datasets. In January 2025, it announced a merger with Getty Images to form a larger visual content entity, enhancing its library depth and contributor opportunities. The company's growth reflects the democratization of stock media but has drawn scrutiny over contributor compensation models and the ethical use of licensed data in AI development.

History

Founding and initial growth (2003–2011)

Shutterstock was founded in July 2003 by , a serial entrepreneur and who had previously launched multiple startups. Oringer bootstrapped the company by purchasing a single and amassing an initial library of 30,000 of his own stock photographs, which he uploaded to launch a subscription-based microstock platform aimed at providing affordable, licensable images to designers, marketers, and businesses. This model pioneered on-demand access to imagery via monthly subscriptions, differentiating it from traditional rights-managed stock agencies by emphasizing volume, speed, and lower pricing. The platform experienced rapid early adoption, reaching over 500,000 images by February 2006 and establishing Shutterstock as the world's largest subscription-based stock image agency at that time. In the same month, it expanded into , becoming the first microstock provider to offer video clips on a subscription basis. Growth continued with the June 2007 launch of "Shutterstock on the ," introducing celebrity and editorial photography to broaden content appeal. By August 2008, the company introduced flexible "On Demand" subscription plans, allowing users to purchase additional downloads beyond fixed allotments, which further accelerated user engagement. In September 2009, Shutterstock acquired Bigstockphoto, a competing microstock site, to integrate its image library and user base, marking an early strategic consolidation in the sector. The image collection surpassed 10 million items by February 2010, with the overall library exceeding 12 million images and 200,000 clips by mid-year, supported by translations into 10 languages to expand global reach. This period of expansion culminated in 2011 with reported revenue of $120.3 million, reflecting sustained customer growth and content accumulation without external venture funding.

IPO and early acquisitions (2012–2014)

Shutterstock filed its S-1 registration statement with the U.S. Securities and Exchange Commission in June 2012, outlining its intent to pursue an (IPO) to fund growth in its stock media marketplace. The company priced its IPO on October 10, 2012, offering 4.5 million shares of common stock at $17 per share, above the initial expected range of $13 to $15, raising approximately $76.5 million before underwriting discounts. Shares began trading on the under the "SSTK" on October 11, 2012, and closed the offering on October 16, 2012, valuing the company at around $558 million at the IPO price. Post-IPO, Shutterstock's stock experienced initial volatility but reflected investor interest in its scalable subscription-based model for licensing digital imagery and footage, with shares rising nearly 30% on the first . The proceeds were primarily allocated to general corporate purposes, including content acquisition, enhancements, and potential strategic investments, aligning with the company's emphasis on expanding its contributor network and global reach without immediate aggressive expansion via acquisitions. Shutterstock maintained a conservative approach to immediately following the IPO, with its prior purchase of Bigstock in 2009 marking the last significant deal before going public. This changed in early when, on , the company announced a definitive agreement to acquire WebDAM, a Minneapolis-based provider of web-based (DAM) software designed for organizing, storing, and distributing media files. The acquisition, terms of which were not publicly disclosed, aimed to integrate DAM capabilities into Shutterstock's , enabling enterprise clients to better manage licensed content alongside their assets and addressing gaps in workflow efficiency for creative teams. WebDAM's SaaS platform served clients in , , and , complementing Shutterstock's core licensing revenue without overlapping directly in . No other acquisitions occurred between the IPO and the WebDAM deal, reflecting a focus on and platform refinement during this period.

Diversification through content expansion (2015–2023)

In January 2015, Shutterstock acquired Rex Features, Europe's largest independent photographic press agency, for approximately $33 million in cash, thereby expanding its editorial imagery offerings to include news, entertainment, and celebrity content previously underrepresented in its library. Concurrently, the company purchased PremiumBeat, a music platform, for $32 million, integrating over 50,000 high-quality audio tracks and sound effects to address growing demand for multimedia assets in and . These acquisitions marked Shutterstock's strategic shift toward a more comprehensive creative content ecosystem, diversifying revenue streams beyond static images and leveraging complementary contributor networks. Throughout the late 2010s, Shutterstock organically grew its video and illustration portfolios through contributor incentives and partnerships, while selectively acquiring niche content to fill gaps in emerging formats like and 3D models, which began appearing in its around 2019 to support digital design workflows. This period saw the company's total content expand significantly, from roughly 100 million assets in 2015 to over 400 million by 2023, driven by both internal submissions and targeted integrations that enhanced searchability and licensing versatility across industries. In May 2022, Shutterstock acquired , the leading independent video marketplace, for $218 million, adding approximately 30 million video clips, 1.6 million tracks, and 1.7 million effects to its holdings, which solidified its position in commercial and editorial footage markets previously dominated by larger competitors. The following year, in May 2023, it completed the purchase of from for $53 million, incorporating a library of billions of GIFs, stickers, and short animations, thereby extending into dynamic, shareable used extensively in social and messaging applications. These moves collectively reduced Shutterstock's dependence on photography—once comprising over 80% of its revenue—to a more balanced mix including video (growing to about 20% by 2023), audio, and interactive assets, fostering resilience amid shifting creator demands for integrated solutions.

Recent strategic shifts and merger (2024–present)

In 2024, Shutterstock accelerated its integration of generative AI technologies into its core offerings, launching tools that allowed users to generate customized stock media while emphasizing ethical data practices through licensing agreements with AI developers. This pivot addressed competitive pressures from AI-driven , which had eroded traditional licensing revenues in the sector, yet enabled Shutterstock to report record annual revenues of $936.9 million and content business growth. On January 6, 2025, Shutterstock entered a definitive merger-of-equals agreement with Holdings, Inc., forming a combined entity valued at approximately $3.7 billion enterprise value, to be renamed Holdings, Inc., and headquartered in . The transaction, structured as an all-stock deal with Shutterstock shareholders receiving 0.636 shares of the new company per Shutterstock share, aims to consolidate over 600 million visual assets and deliver up to $200 million in annual cost synergies through operational efficiencies and enhanced AI capabilities. Shutterstock stockholders approved the merger on June 10, 2025, amid expectations of bolstered market position against generative AI disruptors. However, regulatory hurdles emerged, with the announcing on October 19, 2025, a Phase 2 investigation due to concerns over potential reductions in within visual content licensing. Shutterstock affirmed its commitment to the deal, pledging with regulators to resolve issues expeditiously.

Corporate Structure and Operations

Leadership and governance

Jonathan Oringer founded Shutterstock in 2003 and has served as Executive Chairman of the Board since April 2020, having previously acted as CEO from the company's inception until July 2022. Paul J. Hennessy has been Chief Executive Officer since July 2022, succeeding Oringer, and joined the Board in April 2015; prior roles include CEO of Vroom and , bringing over 20 years of experience in technology and leadership. Key executive officers include Rik Powell, appointed Chief Financial Officer in November 2024 after joining in June 2024 as Interim CFO; Powell previously served as CFO at . Other senior leaders encompass Sara Birmingham as Chief Human Resources Officer and members of the C-suite focused on , , and operations, such as CTO Sejal Amin and CMO Rachel Mahoney. The comprises Oringer as Executive Chairman, , and including Thomas R. Evans as Presiding ; it maintains standard committees such as (chaired by Alfonse Upshaw), Compensation, and Nominating and to oversee financial reporting, executive pay, and director nominations. Shutterstock adheres to guidelines emphasizing board independence, ethical conduct via a , and stockholder rights, as outlined in its SEC filings and governance documents. In January 2025, Shutterstock announced a merger with , receiving stockholder approval in June 2025 and anticipating closure in the second half of 2025 pending regulatory approvals; upon completion, CEO Craig Peters will lead the combined entity (rebranded as ), with transitioning to a board role and remaining Chairman of an 11-member board including representatives from both companies. This transaction, valued at approximately $3.5 billion including debt, aims to consolidate visual content assets but introduces transitional risks subject to antitrust scrutiny.

Business model and revenue generation

Shutterstock operates as a , connecting over 2 million contributors who upload creative assets—such as images, videos, illustrations, music, and 3D models—with customers including brands, media companies, and agencies seeking licensed media for commercial use. The platform facilitates revenue through licensing agreements, where Shutterstock curates, hosts, and distributes content while enforcing terms that allow perpetual use within specified scopes. Contributors earn royalties based on volume or subscriber share models, typically receiving 15-40% of the fee depending on factors like asset and plan type, with Shutterstock retaining the balance after operational costs. This two-sided model incentivizes content growth, as increased uploads enhance library scale (over 1.5 billion assets as of 2024), attracting more subscribers and driving network effects. Primary revenue derives from the Content segment, which accounted for 81% of total 2024 revenue at $760.0 million, generated via subscription plans (e.g., FLEX and Unlimited offerings providing access to millions of assets for fixed monthly fees) and on-demand purchases for individual or extended licenses. Subscriptions emphasize volume usage for small-to-medium businesses, with customizable add-ons for premium assets, while enterprise deals cater to large-scale needs through integrations and custom workflows. The remaining 19% ($175.3 million) stems from Data, Distribution, and Services, including licensing proprietary datasets for AI model training (e.g., partnerships with and ), custom content production, and distribution via third-party channels like Envato post-2024 acquisition. AI-driven tools, such as generative image creators trained on Shutterstock's ethical datasets, contributed over $100 million in 2024 by enabling premium features and data sales, reflecting a pivot toward high-margin tech-enabled licensing. Overall 2024 revenue reached $935.3 million, a 7% increase from 2023, bolstered by content diversification and AI integrations, though growth moderated in traditional licensing amid market saturation. In Q2 2025, total revenue hit $267.0 million (up 21% year-over-year), with Content at $199.8 million (18% growth), underscoring resilience through hybrid models blending human-curated and generative assets. Risks include contributor payout escalations and from free AI generators, but Shutterstock's focus on verified, rights-cleared content sustains premium pricing and legal defensibility.

Facilities, workforce, and global operations

Shutterstock's corporate headquarters is located at 350 Fifth Avenue, 20th Floor, in New York City, New York, within the Empire State Building. The company maintains additional U.S. offices in Los Angeles, California, and New Orleans, Louisiana. As of December 31, 2024, Shutterstock employed 1,715 full-time workers worldwide, reflecting a 34.6% increase from 1,274 employees the prior year, driven partly by acquisitions and expansion in technology and content operations. This workforce supports the company's digital platform, including roles in content curation, software development, sales, and customer support. Shutterstock operates globally through a network of approximately 14 offices, including locations in and ( and ), (), and Milano ( and ), (), São Paulo (Brazil), Sydney (Australia), Hong Kong, Tokyo (Japan), and Singapore. These facilities facilitate regional sales, contributor relations, and localized content strategies, serving customers in over 150 countries while leveraging a primarily remote-capable model for its distributed creative and technical staff.

Products and Services

Core stock media library

Shutterstock's core stock media library comprises a vast collection of photographs, , and illustrations sourced from independent contributors worldwide. This library serves as the foundation of the company's offerings, enabling customers such as designers, marketers, and publishers to high-resolution visuals for commercial and use under standard or enhanced licensing terms. Content undergoes editorial review for quality, relevance, and compliance with submission guidelines, including requirements for model and releases where applicable. As of the latest reported figures, the includes over 450 million images, encompassing photographs, vectors, and illustrations, with approximately 200,000 new assets added daily to reflect evolving market demands and creative trends. This scale positions Shutterstock as one of the largest repositories of visuals, built through a contributor-driven model where creators retain copyrights while earning royalties from licenses sold—typically 15-40% per download depending on factors like content exclusivity and customer plan. The library's growth traces back to the company's in , when founder Jon seeded it with his own archive of photographs before opening submissions to external contributors, fostering exponential expansion via global participation. Over 1 million contributors, including photographers, illustrators, and digital artists from diverse regions, supply the content, with submissions vetted for technical standards such as minimum 4-megapixel resolution and originality to minimize duplication or infringement risks. Vectors and illustrations, often scalable and customizable, complement photographic assets by providing graphic elements for branding and infographics, while editorial imagery—sourced from events and news—adds contextual depth under restricted usage rules. This contributor has enabled sustained library augmentation, though payout structures and acceptance rates have drawn scrutiny from creators regarding revenue shares amid platform changes.

Audio, video, and 3D assets

Shutterstock's audio offerings primarily consist of music tracks and sound effects, integrated through the acquisition of PremiumBeat for approximately $32 million in cash plus potential additional consideration. At acquisition, PremiumBeat provided over 15,000 curated tracks from independent composers, emphasizing high-quality, exclusive content vetted for commercial use in and projects. The Shutterstock Music library, accessible via subscription or on-demand licensing, features tracks optimized for with visuals, including genres from corporate instrumentals to cinematic scores, with licensing terms allowing unlimited internal use and distribution up to specified view limits. The company's video assets include a library exceeding 28 million clips in HD and 4K resolutions, encompassing diverse categories such as aerial drone footage, time-lapse sequences, and lifestyle scenes. These videos support formats with frame rates from 23.98 to 60 fps and clip lengths of 5 to 60 seconds, suitable for , television, and digital advertising. Shutterstock introduced flexible subscriptions in 2020, initially covering over 18 million clips, to facilitate cost-effective access for frequent users via monthly downloads and enhanced indemnification options up to $250,000 in liability coverage. Shutterstock entered the 3D asset market with the January 2021 acquisition of for $75 million, positioning it as the world's largest 3D model marketplace with millions of downloadable assets including textures, rigs, and animations. These resources cater to applications in gaming, AR/VR development, and product visualization, available in formats like OBJ, , and STL, with royalty-free licensing for commercial integration. The integration expands Shutterstock's total content ecosystem to over 600 million assets across media types, including 3D, for data licensing and creative workflows.

Software tools and applications

Shutterstock offers web-based software tools designed to facilitate , , and visual creation, seamlessly integrated with its extensive stock media library to enable users to customize assets without external downloads. The primary application, Shutterstock Create (formerly Shutterstock Editor), functions as an all-in-one photo editor and design platform, allowing users to crop images, apply filters, adjust brightness, saturation, contrast, and hue, add text overlays, and resize canvases for various formats including and print. Launched in December 2015, it supports vectorized PDF exports to prevent distortion during scaling and includes templates for quick assembly of graphics like thumbnails. Key functionalities in Shutterstock Create emphasize accessibility for non-professionals, featuring one-click background removal, pro effects such as drop shadows and outlines, and a smart resizer that adapts designs across platforms without quality loss. The tool also provides AI-assisted insights for visual recommendations, though core editing relies on manual controls like advanced brushes and color adjustments to match brand specifications. Available as a with a extension, it caters to marketers and creators by embedding Shutterstock's content directly into workflows, reducing the need for separate asset sourcing. In September 2021, Shutterstock acquired PicMonkey, a cloud-based photo editing and platform, for $110 million in cash, expanding its software portfolio with tools focused on intuitive interfaces for creation, effects application, and template-based designs. PicMonkey, which added over 200,000 subscribers to Shutterstock's user base at the time of acquisition, complements Create by offering specialized features like layered editing and , targeted at small businesses and individual creators seeking rapid visual production. Post-acquisition, PicMonkey's capabilities have been aligned with Shutterstock's ecosystem, enabling hybrid use for enhanced customization of stock assets.

AI-driven generative tools

Shutterstock's primary AI-driven generative tool is its AI Image Generator, which enables users to create custom images from text prompts using models developed in partnership with . Launched in beta in late 2022 following an October 25 announcement of the collaboration, the tool integrates OpenAI's technology, allowing generation of visuals that can be licensed commercially with Shutterstock's indemnification against claims. Under the partnership, Shutterstock supplies licensed datasets—including over 400 million images, videos, and music tracks—for training OpenAI's models, in exchange for and a dedicated contributor fund that compensates artists whose works contribute to the training data. This arrangement, initiated in 2021 and expanded via a six-year agreement on July 11, 2023, positions Shutterstock as a provider of ethically sourced training data, distinguishing it from models trained on unlicensed content. The AI Image Generator, rebranded in part as Shutterstock Generate, supports features such as prompt enhancement for refined inputs, style customization, and integration into Shutterstock's broader platform for seamless workflow with stock assets. An update to DALL-E 3 occurred on December 21, 2023, improving image quality, adherence to prompts, and rendering of complex elements like text and human figures. By October 26, 2023, Shutterstock incorporated generative AI across its library of over 700 million assets, adding tools for , expansion, and variation to enable users to modify existing stock content or generate new variations directly within the interface. These capabilities extend to -oriented offerings like Generative AI Pro, which facilitates mood boards and for professional teams. Shutterstock's approach emphasizes commercial viability and creator protection, with generated content marked as AI-produced and eligible for licensing under standard terms, though excluding uses in competing AI training. The tools have driven platform adoption, with integrations allowing one-click generation and editing to streamline content creation, as demonstrated in virtual showcases starting November 2023. Expansion beyond images includes exploratory generative features for video and audio, leveraging the broadened data license that incorporates metadata and music libraries.

Strategic Initiatives

Key acquisitions and integrations

Shutterstock has expanded its portfolio through targeted acquisitions, focusing on complementary content libraries, creative tools, and subscription models to strengthen its position in visual and assets. A notable early acquisition was Webdam in March 2014, a digital asset management software provider, which enhanced organizational capabilities for enterprise clients before its divestiture in 2018. In September 2021, Shutterstock acquired PicMonkey, a user-friendly creative design platform, integrating it to empower users with editing and within its , thereby extending beyond mere asset licensing into full solutions for marketers and small businesses. The company further diversified into video and music with the May 2022 acquisition of , the world's largest independent video , which added millions of premium editorial and commercial clips, footage, and tracks to Shutterstock's library, reinforcing its dominance in non-still media segments. In May 2023, Shutterstock acquired , the leading GIF and sticker platform with billions of daily searches, incorporating its vast collection of animated content to support conversational and applications. Subsequent 2024 deals accelerated content expansion: the February acquisition of Backgrid, a celebrity news network, contributed over 30 million images and videos from events and live coverage, targeting editorial and entertainment niches. Most significantly, in May 2024, Shutterstock agreed to acquire Envato for $245 million, completing the deal in July; this integrated Envato Elements, an unlimited subscription service with graphics, fonts, templates, and 650,000 subscribers, diversifying revenue through multi-asset creative subscriptions and enhancing AI-trainable datasets. These integrations have unified under Shutterstock's platform, enabling seamless access to expanded libraries and tools while bolstering generative AI initiatives via enriched training data.

Partnerships for technology advancement

Shutterstock has established multiple partnerships with prominent AI technology firms, primarily centered on licensing its extensive library of images, videos, music, and 3D assets as training for generative AI models. These collaborations enable the partner companies to develop more sophisticated AI systems while providing Shutterstock with streams from data licensing—reportedly generating tens of millions in deals—and priority access to emerging technologies for integration into its own generative tools. This approach contrasts with unlicensed practices, as Shutterstock emphasizes contributor compensation and ethical sourcing to mitigate legal risks associated with AI training. A foundational partnership began with in October 2022, initially focused on image datasets to enhance DALL-E's capabilities, and expanded in July 2023 to a six-year agreement encompassing videos and music libraries. Under this deal, OpenAI licenses Shutterstock's content and metadata to refine its models, while Shutterstock incorporates OpenAI's generative features directly into its platform, such as text-to-image generation launched in 2022. The arrangement has been credited with advancing AI image synthesis by providing high-quality, rights-cleared data, though critics note it may still propagate biases inherent in stock media selections. In March 2023, Shutterstock collaborated with to develop foundation models for text-to-3D generation using 's Picasso cloud services, training on Shutterstock's assets including those from its 2021 acquisition of . This partnership extended in August 2023 to generative AI for 360-degree HDRi scene backgrounds and further in 2024 to 's Edify models for high-fidelity 3D , facilitating applications in metaverses and XR simulations. By July 2024, Shutterstock launched an ethical generative 3D powered by these models, enabling developers to produce branded 3D assets from text prompts with reduced computational demands compared to traditional methods. Additional alliances include a March 2023 agreement with AI Research to supply datasets for productivity-enhancing AI technologies, a December 2024 deal with for HD/4K video training to improve its open-source LTXV video model, an expanded arrangement with Meta for safe datasets in AI tool development, and a 2024 licensing pact with Apple valued at up to $50 million for training to bolster on-device AI features. These partnerships collectively position Shutterstock as a key enabler of AI progress, with licensing revenue contributing significantly to its growth—such as a reported multi-year deal surge in 2023—while fostering innovations in multimodal generative systems.

Market positioning and competitive strategy

Shutterstock maintains a prominent position in the stock media industry as a provider of images, videos, illustrations, and music, emphasizing and affordability to serve a broad customer base including small businesses, marketers, and individual creators. With a exceeding 400 million assets as of 2024, the company reported revenues of $935.3 million for the full year, reflecting a 6.9% increase from $874.6 million in 2023, driven primarily by growth in its content licensing segment. This positioning differentiates it from premium-oriented rivals like , which focus on higher-end editorial and exclusive content, by offering subscription models starting at low per-asset costs, appealing to price-sensitive users seeking scalable access. In the competitive landscape, Shutterstock faces pressure from Adobe Stock, which benefits from seamless integration with Adobe's Creative Cloud ecosystem, capturing users through workflow efficiency, and from free or low-cost alternatives amplified by generative AI tools that erode traditional licensing demand. Industry estimates place Shutterstock's market share in stock photography at around 61% prior to recent disruptions, though AI proliferation and open-access platforms have contributed to a decline, with free AI-generated content capturing up to 5.77% of the segment by mid-2025. To counter this, Shutterstock's strategy centers on diversification beyond static images into video, 3D models, and AI-enhanced tools, alongside bolstering its creator network to sustain content volume and relevance amid algorithmic shifts in search and generation technologies. A pivotal element of Shutterstock's competitive strategy materialized in early 2025 through its merger with , announced on January 7, which aims to consolidate market share, pool extensive libraries, and fortify defenses against Adobe's dominance in the AI-augmented visual content space. The combined entity enhances with creators and licensees while accelerating AI model training on licensed datasets, positioning it to capture value from generative workflows rather than merely licensing inputs. This move addresses causal pressures from AI commoditizing raw assets, as evidenced by Shutterstock's Q2 2025 revenue growth to $267 million, up 21% year-over-year, signaling resilience through scale and technological adaptation.

Controversies and Criticisms

Content censorship and regional compliance

Shutterstock maintains content moderation policies that prohibit the distribution of illegal, explicit, or objectionable material, including nudity, , and , with editorial content featuring sensitive subjects reviewed case-by-case and often rejected if deemed inappropriate. These standards aim to ensure compliance with global legal requirements, but they have drawn criticism for enabling to access restricted markets. A prominent controversy arose in November 2019 when Shutterstock admitted to developing a specialized search tool for its Chinese platform, Shutterstock , which blocked access to images and terms related to politically sensitive topics such as the protests, the , independence, and Winnie the Pooh memes associated with . The tool, implemented to comply with Chinese government regulations under the Cybersecurity Law, restricted over 200 search keywords and hid relevant imagery, prompting over 180 employees to sign an internal condemning the move as antithetical to free expression and harmful to global users. In response, Shutterstock's CEO, Jim Clarke, stated during an all-hands meeting that employees uncomfortable with the decision could "work elsewhere," highlighting tensions between operational access to 's market and principles of uncensored content distribution. This incident exemplified broader regional compliance practices, where Shutterstock removes or geo-blocks content to adhere to local laws, such as EU data protection rules under GDPR or country-specific bans on symbols of extremism. For instance, the company periodically audits and delists assets that violate evolving restrictions, even if previously approved, to mitigate legal risks in jurisdictions with strict content controls. Critics, including affected contributors and free speech advocates, argue that such measures prioritize revenue—Shutterstock reported significant growth from its Chinese operations post-launch—over consistent editorial integrity, potentially normalizing authoritarian demands on Western platforms. No major policy reversals have been announced since the 2020 backlash, with the company continuing to operate tailored regional versions of its library. Shutterstock has positioned itself as a proponent of ethical generative AI by licensing its content library for model training only with contributor consent and compensation mechanisms, distinguishing its approach from competitors accused of unauthorized . In October 2022, the company announced partnerships with and AI Research to provide ethically sourced training data, emphasizing royalties shared with contributors whose works inform AI outputs. This model relies on a Contributor Fund, which disburses payments to artists based on the usage of their in AI development, with estimates indicating payouts exceeding $4 million by mid-2023. On copyright matters, Shutterstock introduced industry-first indemnification for enterprise customers licensing AI-generated images in July 2023, covering potential third-party IP infringement claims and extending protections through review processes to detect similarities to existing works. The company expanded its partnership to a six-year agreement in July 2023, securing ongoing from licensing—reportedly $104 million in 2023 alone—while asserting that its consented datasets mitigate disputes plaguing rivals like Stability AI, which faced class-action suits from artists over unlicensed training. No major lawsuits have targeted Shutterstock's AI practices as of 2025, unlike broader industry litigation, due in part to its opt-in contributor framework. Creator impacts remain debated, with Shutterstock's fund providing direct financial benefits—such as royalties from AI tool sales—but raising concerns among some artists that generative outputs erode demand for original stock media. Proponents, including company executives, argue the model sustains contributor ecosystems by integrating AI into platforms like Shutterstock Generate, launched in January 2023, which attributes value back to human inputs. Critics, however, contend that even compensated enables AI to replicate styles at scale, potentially displacing human labor, though empirical on net revenue shifts for Shutterstock's 1.5 million contributors post-AI integration shows mixed outcomes without widespread exodus reported. Shutterstock's ethics stance, informed by internal guidelines against harmful biases, prioritizes traceable over unregulated alternatives, though independent audits of compensation adequacy remain limited.

Allegations of intellectual property misuse

In February 2022, photographer Elliot McGucken filed a copyright infringement lawsuit against Shutterstock in the U.S. District Court for the Southern District of New York, alleging that the platform hosted and distributed hundreds of his photographs without authorization, thereby enabling unauthorized reproduction and public display. McGucken claimed direct and secondary infringement, seeking damages for the platform's role in making his works available to licensees. Shutterstock defended by invoking the Digital Millennium Copyright Act (DMCA) safe harbor provisions, arguing it qualified as an online service provider that expeditiously removed notified infringing material and lacked specific knowledge of infringement prior to notifications. The court granted Shutterstock's motion for in October 2023, ruling that the company met DMCA criteria for immunity, including implementing a repeat-infringer and accommodating standard technical measures, thus shielding it from liability for user-uploaded content. This outcome aligned with prior precedents applying DMCA protections to media platforms, emphasizing that service providers are not required to proactively police all potential infringements absent . In a related development, Shutterstock sought sanctions against counsel in a separate suit deemed frivolous, highlighting the company's aggressive defense against what it viewed as baseless claims. Contributor communities have raised ongoing concerns about Shutterstock's enforcement of protections, with reports of persistent mass uploads of allegedly infringing duplicates or unauthorized derivatives that evade detection, potentially diluting original creators' licensing revenue. Shutterstock maintains an IP team to investigate claims and remove verified violations but does not assume ownership or pre-verify contributor , relying instead on uploaders' representations and DMCA processes to mitigate liability. These practices, while legally defensible under U.S. , have drawn for prioritizing over proactive verification, though no successful claims of systemic misuse by Shutterstock itself have been adjudicated.

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