Shutterstock to provide content for Meta's
continued investment in AI
NEW
YORK, Jan. 12, 2023 /CNW/ -- Shutterstock, Inc.
(NYSE: SSTK), the leading global creative platform for
transformative brands and media companies, will help fuel Meta's
continued investment in AI. The expanded relationship reflects the
commitment both companies have to being at the forefront of AI
innovation, as well as the power of Shutterstock's expansive
content library.
"AI has the potential to drive an explosion of creativity," said
Paul Hennessy, Chief Executive
Officer at Shutterstock. "Shutterstock is expanding our
long-standing relationship with Meta, which follows our
partnerships with OpenAI and LG AI Research announced last year, to
reinforce our mission to invest in technology that brings creative
ideas to life faster. We want to automate the busywork required to
complete creative projects and help creators understand how their
work is resonating. Our content will remain at the heart of these
advancements both on and off our platform, and we will continue to
shape the future of generative AI in a way that is ethical and
artist-centric."
With its industry-leading library of high-quality content, its
focus on bringing new creative offerings to market, and its
expertise in creating a scaled ecosystem that compensates and
connects contributors to creators, Shutterstock is the ideal
partner for industry leaders investing in creating new experiences
powered by AI. By tapping into Shutterstock's collection of
millions of images, videos and music, Meta plans to use these
datasets to develop, train and evaluate its machine learning
capabilities.
This expanded relationship with Meta is a part of Shutterstock's
greater strategic vision to be at the center of technology, design,
content and innovation. Shutterstock is one of the first companies
to pay artists for their contributions to training machine learning
models, and it has proven to be a trusted partner to those entering
the space by ensuring the responsible creation and licensing of
content with a transparent IP transfer.
FORWARD-LOOKING STATEMENTS
This press release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements other than
statements of historical fact are forward-looking. Examples of
forward-looking statements include, but are not limited to,
statements regarding guidance, industry prospects, future business,
future results of operations or financial condition, future
dividends, our ability to consummate acquisitions and integrate the
businesses we have acquired or may acquire into our existing
operations, new or planned features, products or services,
management strategies, our competitive position and the COVID-19
pandemic. You can identify forward-looking statements by words such
as "may," "will," "would," "should," "could," "expect," "aim,"
"anticipate," "believe," "estimate," "intend," "plan," "predict,"
"project," "seek," "potential," "opportunities" and other similar
expressions and the negatives of such expressions. However, not all
forward-looking statements contain these words. Forward-looking
statements are subject to known and unknown risks, uncertainties
and other factors that could cause our actual results to differ
materially from those expressed or implied by the forward-looking
statements contained herein. Such risks and uncertainties include,
among others, those discussed under the caption "Risk Factors" in
our most recent Annual Report on Form 10-K and our Quarterly Report
on Form 10-Q for the quarter ended June 30,
2022, as well as in other documents that the Company may
file from time to time with the Securities and Exchange Commission.
As a result of such risks, uncertainties and factors,
Shutterstock's actual results may differ materially from any future
results, performance or achievements discussed in or implied by the
forward-looking statements contained herein. The forward-looking
statements contained in this press release are made only as of this
date and Shutterstock assumes no obligation to update the
information included in this press release or revise any
forward-looking statements, whether as a result of new information,
future developments or otherwise, except as required by law.
ABOUT SHUTTERSTOCK
Shutterstock, Inc. (NYSE: SSTK), is
the leading global creative platform for transformative brands and
media companies. Directly and through its group subsidiaries,
Shutterstock's comprehensive collection includes high-quality
licensed photographs, vectors, illustrations, 3D models, videos
and music. Working with its growing community of over 2
million contributors, Shutterstock adds hundreds of thousands of
images each week, and currently has more than 424 million images
and more than 27 million video clips available.
Headquartered in New York City,
Shutterstock has offices around the world and customers in more
than 150 countries. The Company also owns Splash News, the world's
leading entertainment news agency for newsrooms and media companies
worldwide, Pond5, the world's largest video-first content
marketplace, TurboSquid, the world's largest 3D content
marketplace; PicMonkey, a leading online graphic design and image
editing platform; Offset, a high-end image collection; Shutterstock
Studios, an end-to-end custom creative shop; PremiumBeat, a curated
royalty-free music library; Shutterstock Editorial, a premier
source of editorial images and videos for the world's media;
and Bigstock, a value-oriented stock media offering.
For more information, please visit www.shutterstock.com and
follow Shutterstock on Twitter and on Facebook.
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SOURCE Shutterstock, Inc.