SAN MATEO, Calif., June 22, 2015 /PRNewswire/ -- WebDAM, a leader in digital asset management (DAM) and a Shutterstock company, was selected by Penske Media Corporation (PMC) to support PMC's editorial and creative teams' needs to store, organize, access, and manage visual content as part of the strategic, multiyear alliance between PMC and Shutterstock that was announced today. Under the agreement between PMC and Shutterstock, PMC will use WebDAM's platform to manage imagery, videos, and creative files for more than 22 digital brands globally, including media icons Variety and WWD.
As one of the largest digital media companies in the world, PMC needed a cloud-based solution to securely search and share photography and other creative assets with global stakeholders. In a move that signals WebDAM's increasingly active role in the editorial marketplace, WebDAM will serve as PMC's content archive, one of the largest of its kind, and be integrated for streamlined editorial and syndication workflows across all PMC brands.
"We are thrilled to partner with PMC," said Jody Vandergriff, Co-Founder and CEO of WebDAM. "With legendary brands like 100-year-old entertainment and fashion publications Variety and WWD, PMC is known for creating powerful content. We aim to eliminate unnecessary steps in the workflow so the PMC brands can spend less time scouring for hard-to-find files, and more time creating iconic content."
"PMC is producing incredibly large volumes of content, and we needed a flexible, customizable solution to manage the flow and distribution of our content," said Jay Penske, Chairman and CEO of PMC. "After considerable diligence, we decided to leverage WebDAM's platform due to its impressive cloud infrastructure that has proven it can scale with the rate of our business growth."
"PMC is excited to collaborate with the WebDAM and Shutterstock teams to bring a world-class offering to market, not only in terms of image quality and insider-access, but also speed to market, which is essential in the digital media landscape," said Craig Perreault, SVP of Business Development of PMC. "Both PMC and WebDAM recognize the power of how quickly the cloud enables a company to move, and together PMC, Shutterstock and WebDAM are poised to take advantage of that speed."
WebDAM, a Shutterstock company, is a leader in digital asset management, changing the way companies manage and share digital media. WebDAM provides marketing and creative teams with online tools for managing, sharing, searching, retrieving, and distributing creative collateral in the cloud. For more information, please visit WebDAM.com, and follow WebDAM on Twitter or Facebook.
Shutterstock, Inc. (NYSE: SSTK), is a leading global provider of high-quality licensed photographs, vectors, illustrations, videos and music to businesses, marketing agencies and media organizations around the world. Working with its growing community of over 70,000 contributors, Shutterstock adds hundreds of thousands of images each week, and currently has more than 50 million images and 2 million video clips available.
Headquartered in New York City, with offices in Amsterdam, Berlin, Chicago, Dallas, Denver, London, Los Angeles, Montreal, Paris, San Francisco and Silicon Valley, Shutterstock has customers in more than 150 countries. The company also owns Bigstock, a value-oriented stock media agency; Offset, a high-end image collection; PremiumBeat a curated royalty-free music library; Rex Features, a premier source of editorial images for the world's media; Skillfeed, an online marketplace for learning; and WebDAM, a cloud-based digital asset management service for businesses.
About Penske Media Corporation
Penske Media Corporation (PMC) is a leading digital media, publishing, and information services company founded in 2003. PMC engages with thriving audiences across the web, television, mobile, print and social media – reaching more than 168 million audience members monthly (comScore, 2015), and was recently named one of the Top 100 Private Companies in the United States & North America. With the preeminence of its brands, PMC is one of the largest digital media companies in the world, publishing more than 22 digital brands, including an extensive joint venture in India with ZEE TV, as well as more than 50 annual events/conferences and a dynamic research and emerging data business. PMC brands include PMC Studios, WWD, Footwear News, M, Deadline.com, Variety magazine, Variety.com, CricketCountry.com, HollywoodLife, Beauty Inc, ENTV, India.com, Movieline, TVLine, BGR, AwardsLine, @hollywood, Year Awards. The company is headquartered in Los Angeles, California and 11 offices around the world.
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 value of the WebDAM platform to PMC and the delivery of a world class offering as a result of the alliance between Shutterstock and PMC, may constitute forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements involve known and unknown risks and uncertainties, including risks related to unforeseen changes to Shutterstock's financial condition and future prospects; its ability to continue to attract and retain customers and contributors to its online marketplace; decreases in customer purchases or in content contributed to its online marketplace; assertions by third parties of infringement or other violations of intellectual property rights by Shutterstock; its ability to increase market awareness of Shutterstock and its services and increase revenues and expand, including into international markets; risks associated with operating internationally; its ability to respond to technological changes; general economic conditions worldwide; its ability to successfully integrate acquisitions; and other factors and risks discussed under the heading "Risk Factors" in Shutterstock's most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, 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 these 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 in this press release. Shutterstock is providing the information in this press release as of this date and assumes no obligation to update the information or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.