Shutterstock Inc Stock Price, News & Analysis

On September 28, 2021, Shutterstock (SSTK) announced it will release its Q3 2021 financial results on October 26, 2021, before the market opens. The company will host a conference call at 8:30 a.m. ET to discuss these results. Interested parties can access the call through a U.S. number or via a live audio webcast on Shutterstock's website. Following the call, a replay will be available for a limited time. Shutterstock continues to be a key player in the creative solutions space, serving a vast clientele globally.

Shutterstock (NYSE:SSTK) has launched a new brand campaign and TV commercial titled 100% Shutterstock, produced entirely with its own content. The campaign addresses the rising demand for creative solutions post-pandemic, emphasizing a unified platform for creators. This initiative marks a shift from Shutterstock's initial image-focused branding to a comprehensive creative platform. The TV commercial will air from September 13 to December 12, 2021, across multiple US networks and digital platforms. Recent acquisitions, including PicMonkey and TurboSquid, enhance its creative offerings.

Shutterstock (NYSE: SSTK) has announced its role as the exclusive sponsor of Experience the Times of Bill Cunningham, an immersive exhibition in New York City, launching on September 12 during Fashion Week. The installation celebrates the legendary photographer's six-decade career, showcasing iconic photos, artifacts, and multimedia presentations. By partnering with this event, Shutterstock reinforces its commitment to the creative community. The exhibition runs until October 30, with admission priced at $30.

Shutterstock (NYSE: SSTK) has launched FLEX Premium, enhancing its offerings for small- and medium-sized businesses (SMBs). This new product removes monthly download limits and user restrictions, granting access to over 380 million visuals, tracks, and footage, including an expanded Editorial collection. FLEX Premium features test downloads enabling users to mock-up content before licensing. Chief Revenue Officer Jamie Elden highlighted the product's aim to simplify content creation amidst digital complexity, reflecting Shutterstock's ongoing commitment to innovation.

Shutterstock (NYSE: SSTK) announced the acquisition of PicMonkey for $110 million in cash, enhancing its creative solutions and expanding its market. This acquisition aims to provide users, regardless of skill level, with accessible design tools for various applications. With expected contributions of approximately 3% to annual revenues and adding over 200,000 new subscribers, the deal positions Shutterstock to tap into an $8 billion creative software market. The acquisition aligns with Shutterstock's strategy to democratize content creation and enhance the customer experience across its platforms.

Shutterstock, Inc. (NYSE: SSTK) has launched a new service called Rights and Clearance, aimed at assisting customers in obtaining third-party permissions for promotional use across various platforms. This service is part of Shutterstock's larger offering, which includes over 380 million assets, and provides a streamlined approach to content clearance and licensing. The Rights and Clearance service extends Shutterstock's Asset Assurance™, which launched in 2020, ensuring necessary indemnification for its users. This initiative aims to enhance customer confidence and operational efficiency in creative endeavors.

PropertyGuru Group announces the appointment of Rachna Bhasin as an Independent Non-Executive Director, enhancing its governance with 50% independence on its board. Bhasin's extensive experience in technology and public company boards, including SSTK and RHP, is expected to support PropertyGuru's digital transformation and growth strategies. This move aligns with its plans for a public listing on the NYSE through a merger with BTNB. CEO Hari V. Krishnan expressed confidence in Bhasin's contributions to the company’s mission in Southeast Asia's property market.

Shutterstock (NYSE: SSTK) announced a new API integration with OpenText on Aug. 12, 2021, allowing direct access to over 380 million high-quality images through OpenText Media Management. This partnership aims to enhance productivity for brands and media companies, especially in a hybrid work environment. Key features include seamless licensing, an extensive library search capability, and automated license tracking. The integration is designed to support customers in managing digital assets efficiently and ensuring compliance.

Shutterstock (NYSE: SSTK) has announced the launch of Shutterstock.AI's data on AWS Data Exchange, facilitating access to extensive datasets for training computer vision models. This partnership aims to support various industries, enhancing capabilities in areas like ecommerce and autonomous vehicles. Customers can leverage 400 million visual assets and quality metadata for improved efficiency in model training. The collaboration with AWS is expected to broaden market reach, allowing Shutterstock to cater to diverse machine learning applications.