Getty Images Announces Canva Partnership Renewal

Rhea-AI Summary

Getty Images (NYSE: GETY) has renewed its partnership with Canva, extending their collaboration that began in 2018. This multi-year renewal will continue to provide Canva's customers with access to millions of Getty Images' creative assets, including images and videos. The partnership has been expanded to support Canva's development of responsibly trained generative AI tools, as part of Canva's $200 million Content Fund.

The renewal highlights Getty Images' ability to provide a wide range of high-quality content to meet diverse customer needs. Both companies expressed excitement about the partnership, emphasizing the importance of responsible AI development and empowering users with commercially safe creative tools. Getty Images, a leader in visual communications, boasts over 572 million visual assets, offering unmatched depth, breadth, and quality in the industry.

Positive

• Multi-year partnership renewal with Canva, a major visual communication platform
• Expanded partnership to support development of responsibly trained generative AI tools
• Access to millions of Getty Images' assets for Canva's customers
• Potential revenue growth from expanded partnership and AI development collaboration

Negative

• None.

A Media Snippet accompanying this announcement is available by clicking on this link.

NEW YORK, Aug. 06, 2024 (GLOBE NEWSWIRE) -- Getty Images (NYSE: GETY), a preeminent global visual content creator and marketplace, today announced the renewal of its partnership with Canva, the world’s all-in-one visual communication platform. The multi-year renewal will continue to provide Canva’s customers with access to millions of Getty Images’ award-winning creative image and video assets.

The renewal also expands the partnership to support Canva’s work to develop responsibly trained generative AI tools, as part of Canva’s $200 million Content Fund.

Getty Images has partnered with Canva since 2018, adding to the Canva content library with millions of high-quality images and videos available to license.

“We are pleased to extend and deepen our partnership with Canva, which speaks to Getty Images’ unparalleled ability to provide depth, breadth, and quality of content to service the full range of customer need,” said Peter Orlowsky, SVP of Strategic Development at Getty Images. “We look forward to collaborating with Canva to empower their users with responsibly trained and commercially safe AI that can inspire and expand creativity.”

“We’re excited to enhance our access to high-quality visual content through our continued partnership with Getty Images, so our users can access everything they need to design, right at their fingertips,” said Silvia Oviedo Lopez, SVP of Global Content and Discovery at Canva. “Creators are vital to Canva, and this partnership marks another milestone in our commitment to develop AI responsibly⁠, and in a way that benefits everyone.”

Getty Images is a world leader in visual communications, with over 572 million visual assets that delivers unmatched depth, breadth, and quality – underpinned by a very attractive base of exclusive content that can only be found at gettyimages.com.

Media contact:
Anne Flanagan
Anne.Flanagan@gettyimages.com

FAQ

What is the significance of Getty Images' partnership renewal with Canva for GETY stock?

The partnership renewal is significant for GETY stock as it ensures continued access to Getty Images' content for Canva's large user base, potentially driving revenue. The expanded collaboration on AI tools also positions Getty Images in the growing field of responsible AI development.

How many visual assets does Getty Images (GETY) currently offer?

Getty Images (GETY) currently offers over 572 million visual assets, providing a vast and diverse collection of high-quality content to its customers and partners.

What is Canva's Content Fund, and how does it relate to Getty Images (GETY)?

Canva's Content Fund is a $200 million initiative to develop responsibly trained generative AI tools. The renewed partnership with Getty Images (GETY) will support this effort, leveraging Getty's vast content library and expertise in visual communications.

When did Getty Images (GETY) first partner with Canva?

Getty Images (GETY) first partnered with Canva in 2018, providing millions of high-quality images and videos to Canva's content library for its users to license.