Shutterstock Inc Stock Price, News & Analysis

Shutterstock (NYSE: SSTK) announced it will release its fourth quarter 2022 financial results on February 10, 2022, before the market opens. A conference call to discuss the results will take place at 8:30 a.m. ET, accessible by phone and via a live audio webcast on its website. After the call, a recorded replay will be available until February 17, 2022. As a leading creative platform, Shutterstock continues to grow its vast collection of images and video content, serving a global customer base.

Shutterstock (NYSE: SSTK) announces a collaboration with renowned artist Bradley Theodore for an immersive event at Art Basel Miami Beach. The exhibition includes a VIP launch party on December 1, showcasing a large mural of global icons and live art projects involving guests. This partnership utilizes Shutterstock's vast archive, enhancing cultural engagement and brand visibility. The event will run until December 5, merging art and tech in a dynamic setting, celebrating creativity and collaboration.

Shutterstock (NYSE: SSTK) has unveiled its annual Color Trends Report, analyzing millions of image downloads to identify the most clickable color schemes for marketing campaigns. Notably, shades of green are highlighted as optimal for driving click-through rates and conversions. The report suggests a shift towards more muted and calming colors, featuring Calming Coral, Velvet Violet, and Pacific Pink as the top trends for 2022. These insights aim to assist creatives in making informed choices to enhance engagement in their projects.

Shutterstock, a global creative platform, has announced the promotion of Meghan Schoen to Chief Product Officer (CPO). In her new role, Schoen will lead the execution of the company's product vision, focusing on enhancing content, services, and application lines. This appointment comes on the heels of successful product innovations including AI-driven features. Schoen previously held the position of SVP of Product and played a critical role in several acquisitions. CEO Stan Pavlovsky expressed confidence in her leadership to drive Shutterstock's growth.

Shutterstock (NYSE: SSTK) announced a partnership with Staples US Retail to enhance design experiences for small businesses. This collaboration allows customers to access Shutterstock's library of over 325 million images and utilize simple editing tools at Staples locations nationwide. The initiative aims to support small businesses in creating impactful marketing materials both online and in-store. Staples will also feature large-scale multimedia murals showcasing Shutterstock artists, providing a unique visual experience. This partnership is designed to help small business owners elevate their marketing materials efficiently.

Shutterstock (NYSE: SSTK) has launched new applications, Catalog and Plan, alongside the Music Match Tool and the FLEX 25 subscription, as part of its Quarterly Product Update. These innovations aim to enhance workflow efficiency and offer creative insights for businesses. The Catalog application supports centralized content management, while Plan provides a collaborative content calendar. The Music Match Tool simplifies music selection for projects, and FLEX 25 facilitates access to diverse media resources for eCommerce clients.

Shutterstock reported third-quarter results for 2021, showing an 18% revenue increase to $194.4 million compared to Q3 2020. Despite the revenue growth, net income fell by 29% to $16 million, and adjusted EBITDA decreased by 6% to $44.4 million. The company attributed the net income drop to rising operating expenses from marketing and acquisitions. Subscriber metrics improved, with a 32% increase in subscribers to 336,000 and a 21% rise in subscriber revenue to $81.5 million. The company raised its full-year revenue guidance to $765-$770 million.

On October 18, 2021, Shutterstock (NYSE: SSTK) announced its exclusive partnership as the house photographer for Advertising Week New York, running from October 18 to 21, 2021, at Hudson Yards, NYC. Shutterstock will document over 200 hybrid events, enhancing its visibility in the marketing sector. This collaboration signifies Shutterstock's commitment to capturing industry trends and engaging with professionals across advertising and media. The event aims to celebrate brand excellence and foster networking opportunities for attendees.

Shutterstock, Inc. (NYSE: SSTK) released findings from its study, DE&I in Marketing: A Global Report, surveying 2,700 marketers across 10 countries. The report reveals that 63% of marketers were influenced by societal movements like Black Lives Matter in their content decisions. While 65% value racial diversity in targeting, 44% find it challenging to visually represent this. Travel restrictions due to COVID-19 hindered localized content, impacting 37% of marketers. Additionally, 34% prioritize authentic representation in campaigns, signaling a shift towards more inclusive marketing strategies.