Shutterstock, Inc.
shutterstock.comWhat Do They Do?
Licenses creative content and metadata, and provides studio production and advertising services to businesses, media companies and individual creators.
10-K for FY2025, filed Feb 17, 2026Digital content licensed to our customers for their creative needs includes images, footage, music, and 3D models (our “Content” offering).…View ↗
In addition, our customers have needs that are beyond traditional content license products and services. These include (i) licenses to…View ↗
We have seen increased demand for access to our metadata for machine learning and generative artificial intelligence model training. We…View ↗
Our Data, Distribution, and Services offering also includes high-quality production and custom content at scale provided by Shutterstock…View ↗
Corporate Professionals and Organizations. Marketing and communications professionals incorporate licensed content in the work they produce…View ↗
How Do They Make Money?
Customers buy content through monthly or annual plans for a set number of licenses, or pay for individual licenses at download; platform tools are sold through subscriptions.
10-K for FY2025, filed Feb 17, 2026A significant portion of the Company’s revenue is earned from the license of content. Content licenses are generally purchased on a monthly…View ↗
The Company recognizes revenue upon the satisfaction of performance obligations. The Company recognizes revenue on both its…View ↗
Content: The majority of the Company’s customers license image, video, music and 3D content for commercial purposes either directly through…View ↗
$989.9M
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10-K for FY2025, filed Feb 17, 2026
$989.9M ↗
| Segment | Share | Revenue |
|---|---|---|
|
Editorial Revenue
|
3.3% |
Editorial Revenue, FY2025
$32.7M Sources
|
|
Rex Features and Shutterstock Brands
|
1.2% |
Rex Features and Shutterstock Brands, FY2025
$11.7M Sources
|
|
Backgrid and Splash Branded Content
|
2.1% |
Backgrid and Splash Branded Content, FY2025
$21M Sources
|
Who Are Their Customers?
Businesses, media and broadcast organizations, small and medium-sized businesses, and individual creators license content. Most use self-service websites; customers with tailored licensing, workflow or production needs work through dedicated sales and service teams, while third-party resellers also sell to end users.
10-K for FY2025, filed Feb 17, 2026Corporate Professionals and Organizations. Marketing and communications professionals incorporate licensed content in the work they produce…View ↗
Digital: The majority of our customers access and/or license content directly through our self-service digital properties. Customers have…View ↗
Our online platform provides a freely searchable collection of content that our users can license, download and incorporate into their…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 5 cents of every revenue dollar as net income in FY2025 and turned 13 cents into free cash flow.
10-K for FY2025, filed Feb 17, 2026
$75.1MView ↗
10-K for FY2025, filed Feb 17, 2026
$45.5MView ↗
10-K for FY2025, filed Feb 17, 2026
$123.8MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 7, 2026
−$155.9MView ↗
- ▼ Now a loss
- vs $29.4M in Q2 FY2025
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Aug 5, 2026
Said it would not issue guidance for the rest of the year
It canceled its scheduled earnings call while preparing a strategic update.
Sources
8-K, filed Aug 5, 2026
In light of the pending strategic update, the Company will no longer be hosting the conference call originally scheduled for August 6, 2026…View ↗
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Jul 13, 2026
Paul Hennessy stepped down as CEO; Rik Powell became interim CEO
The board plans to find a permanent CEO and engage a strategic advisor on its go-forward strategy.
Sources
8-K, filed Jul 13, 2026
On July 12, 2026, Paul J. Hennessy notified the Board of Directors (the “Board”) of Shutterstock, Inc. (the “Company”) of his decision to…View ↗
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Jul 9, 2026
Terminated the proposed merger with Getty Images
Getty Images chose not to proceed with the editorial-business sale process sought by the U.K. competition authority.
Sources
8-K, filed Jul 9, 2026
As previously announced, on January 6, 2025, Shutterstock, Inc. (the “Company”), entered into an Agreement and Plan of Merger (the “Merger…View ↗
Growing. Revenue grew 28% in 4 years, from $773.4M in FY2021 to $989.9M in FY2025, about 6% a year.
Broader AI-data customers
The older report described Computer Vision as serving large technology companies training AI models; the latest report describes metadata customers from technology and media companies to smaller start-ups.
10-K for FY2022, filed Feb 14, 2023 10-K for FY2025, filed Feb 17, 2026Shutterstock, our flagship brand, includes various content types such as image, footage, music and editorial. For customers seeking…View ↗
We have seen increased demand for access to our metadata for machine learning and generative artificial intelligence model training. We…View ↗
Who Do They Compete With?
Competes with Getty Images, AdobeStock, Freepik, 123RF, Dreamstime, Storyblocks, Visual China Group, Universal Music Publishing Group, Sony/ATV Music Publishing, Warner/Chappell Music, Adobe, Canva, Picsart, Bending Spoons, Midjourney, and Alphabet
10-K for FY2025, filed Feb 17, 2026other online platforms that feature marketplaces for stock content such as Getty Images and its iStockphoto offering, AdobeStock, Freepik…View ↗
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