Shutterstock is an American still images provider with extensive collection, probable licensing and having large community of contributors, making a growth of ~13% p.a.
STORY OUTLINE
- Shutterstock pushes the boundaries owing to its extensive collection and user- friendly platform.
- Having its own licensing, Shutterstock holds its integrity in the US Still Images Market.
- With new technologies and acquisitions, Shutterstock crosses its own limits.
- Shutterstock is continuously growing due to its large community of contributors.
Emerging Players in US Still Image Market
1. Shutterstock pushes the boundaries owing to its extensive collection and user- friendly platform.
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- With the ‘royalty-free’ program, Shutterstock pushes to the top with over 110,000 stock images.
- Along with stock images, Shutterstock has over 10,000 Data Statistics Tool Images, making it one of the biggest still images player.
- With advanced and newer images, Shutterstock increases its customer retention, with over 2 million customers and rising.
- With a broad subscription based model, Shutterstock embraces its huge customer base, with a 2% increase in subscription-rate each year.
According to Ken Research, Shutterstock has been a leading player in the US Still Image Market, with over 400 million libraries of photographs and edited illustrations, making social media platforms and other companies get the most benefits out of it. This makes the company expand its reach and dominate in the US Still Images Market, making a growth of ~13% p.a.
2. Having its own licensing, Shutterstock holds its integrity in the US Still Images Market.
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- With ‘Standard Licensing’, images can be used for marketing and advertising, benefiting many multimedia companies, increasing the allover growth.
- With 3 other types of licensing namely, Enhanced, Editorial and Premiere License, different low to high end companies are benefiting from it, making the company grow over large scale.
- In addition to the royalty-free content, Shutterstock induces Rights-Managed Licensing, which gives the owner a right to own a particular image, making its ownership singular.
- Proper steps of protection by founder Jon Oringer, has made Shutterstock images safe from copyright infringement and cloning.
3. With new technologies and new acquisitions, Shutterstock crosses its own limits.
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- With Artificial Intelligence brimming to the peak, Shutterstock’s image creation reaches new heights, creating over 40 million still images.
- With a six-year partnership with OpenAI, Shutterstock has promised to give the access to its huge audio, video and image libraries.
- Shutterstock has also given promising leads on buying Giphy from Meta Platforms for $53 million, which would help in mobile users to use generative AI techniques from Giphy’s database.
- With Shutterstock Labs, a comprehensive image generation was found, which fueled the company’s main growth.
4. Shutterstock is continuously growing due to its large community of contributors.
Leading Players In US Still Image Market
- Shutterstock has a large community of growing contributors, providing vectors, photographs and own created images from scratch.
- Aaron N. and Katarina M. are the top contributors, dominating in Landscape and commercial photography and Food photography
- With the help of generative AI, Shutterstock contributors are deeply helped in their own field, making their individual portfolios and contributions make the company grow much more every year.
- With high-end security protocol, contributors remain unaffected with copyright protocols, preventing other users from taking other’s ideas.
CONCLUSION
Shutterstock is making a wide progress as globally social media and company to company dependent infographics are demanded on a large number, deeming an overall demand of the company. This leads to a rise in the workflow, increase in the number of contributors and global expansion of the company.
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