NEW YORK, March 9, 2016 /PRNewswire/ -- Shutterstock, Inc. (NYSE: SSTK), a leading global provider of imagery and music, today announced it has agreed to terms with The Associated Press (AP) to distribute AP's daily global photo and packaged video output for license to customers based in the United States. This milestone, three-year deal, will also give U.S. Shutterstock editorial customers access to over 30 million photos and nearly two million video clips from, respectively, AP Images and AP Archive.
AP, one of the pre-eminent news agencies in the world, delivers up-to-the-minute news, sports and entertainment worldwide, including every statehouse in the United States, to all media platforms and formats. Every day AP produces approximately 3,000 images and video clips. This wide array of photos and videos will be available on the Shutterstock Premier platform along with approximately 100 ready-to-air packages called Consumer Ready Videos, which are produced by AP staff from raw footage captured at news events.
"This marks a major step forward for Shutterstock's editorial offering, providing trusted coverage of news events around the world to our Premier customers in the United States" said Jon Oringer, founder and CEO of Shutterstock. "We are proud that an organization built on a single-minded focus to newsgathering and the highest standards of objective, accurate journalism is trusting its content to be licensed on our platform and making it available to our customers in the U.S."
"With this relationship, AP gets the benefits of adding Shutterstock's sales and marketing reach into the U.S. segments that AP has not traditionally served." said David Gwizdowski senior vice president of revenue, Americas for the AP. "AP's world-wide prominence in news content and Shutterstock's strength in technology and visual content discovery makes us a formidable player in the market."
Shutterstock currently expects images from AP to go live to Shutterstock enterprise customers in the U.S. in April 2016 and footage to be made available later in the year. All images and footage will be licensed under editorial use.
About Shutterstock, Inc.
Shutterstock, Inc. (NYSE: SSTK), is a leading global provider of high-quality licensed imagery and music to media organizations, businesses and marketing agencies around the world. Working with its growing community of over 100,000 contributors, Shutterstock adds hundreds of thousands of images each week, and currently has more than 70 million images and 4 million video clips available.
In 2015, Shutterstock expanded its portfolio to include editorial only use imagery through its acquisition of Rex Features, and a multi-year deals with Penske Media Corporation and BFA Images. The company's editorial offering provides media companies and advertisers images and videos that capture the world around us, including a live feed of tightly edited celebrity, entertainment, sports, and news imagery, along with access to a multi-decade archive of iconic images.
Safe Harbor Provision
Statements in this press release regarding management's future expectations, predictions, beliefs, goals, intentions, plans, prospects or strategies, including statements regarding the timing of offering AP's content on the Shutterstock platform, may constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Such forward-looking statements involve known and unknown risks, uncertainties and other factors including risks related to any unforeseen changes to or the effects on liabilities, financial condition, future capital expenditures, revenue, expenses, net income or loss, synergies and future prospects; our inability to continue to attract and retain customers and contributors to our online marketplace for commercial digital imagery and music; a decrease in repeat customer purchases or in content contributed to our online marketplace; our inability to successfully operate in a new and rapidly changing market and to evaluate our future prospects; competitive factors; assertions by third parties of infringement or other violations of intellectual property rights by Shutterstock; our inability to increase market awareness of Shutterstock and our services; our inability to effectively manage our growth: failure to respond to technological changes or upgrade Shutterstock's website and technology systems; Shutterstock's inability to increase the percentage of its revenues that come from larger companies; our inability to continue expansion into international markets and the additional risks associated with operating internationally, including fluctuations in currency exchange rates; general economic conditions worldwide; our ability to successfully integrate acquisitions and the associated technology and achieve operational efficiencies; and other factors and risks discussed under the heading "Risk Factors" in our most recent Annual Report on Form 10-K, as well as in other documents that may be filed by Shutterstock 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. Shutterstock is providing the information in this press release as of this date and 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.
SOURCE Shutterstock, Inc.