Getty Images has 'acquired' Shutterstock

According to TechCrunch , Getty Images and Shutterstock, two leading names in the field of providing stock photos (professionally taken images of locations, landmarks, nature, events...), have officially 'come under one roof' after a sensational merger worth 3.7 billion USD. The deal was announced on January 7, confirming previous rumors on Bloomberg.

Getty Images and Shutterstock officially 'come home together'

PHOTO: YAHOO FINANCE SCREENSHOT

New stock photo empire born after Shutterstock belongs to Getty Images

Under the deal, Getty Images shareholders will own 54.7% of the new company, while Shutterstock shareholders will own 45.3%. The new company will continue to operate under the Getty Images name and will own the iStock and Unsplash brands.

The event comes as the stock photo industry faces major challenges from the rise of artificial intelligence (AI). Generative AI tools like Midjourney, Dall-E, and Runway ML allow users to create images and videos at will, directly threatening the business of traditional stock photo companies.

But AI also brings new opportunities. Getty Images could license its content to AI companies to train models, or develop AI tools for photo search and editing.

"Today's announcement marks an exciting milestone for both companies," said Getty Images CEO Craig Peters. "This merger will provide opportunities to strengthen our financial foundations, invest in our future, enhance our content, expand our reach, and develop new technologies to better serve our customers."

The merger between Getty Images and Shutterstock is expected to attract the attention of regulators over competition issues.

Source: https://thanhnien.vn/getty-images-da-thau-tom-shutterstock-185250108091635214.htm