Shutterstock is American stock photography, stock recordings, stock music, and editor-editing providers headquartered in New York City. Founded in 2003 by programmer and photographer Jon Oringer, Shutterstock has a collection of about 200 million royalty free stock photos, vector graphics, and illustrations, with around 10 million video clips and music tracks available for licensing. Initially subscription sites alone, Shutterstock expanded beyond subscriptions to a la carte prices in 2008, and has been publicly traded on the New York Stock Exchange since 2012.
Since its founding, Shutterstock has acquired several other companies, starting with Bigstock in 2009 and followed by WebDAM's digital asset management software vendor in 2014. After acquiring Rex Features and PremiumBeat in 2015, Shutterstock signed a partnership agreement with the Associated Press and recently, recently acquired Flashstock in 2017. It also has licensing deals with companies such as Penske Media Corporation. The company has over 100,000 contributors in March 2016, with an "active customer base of 1.4 million people in 150 countries."
Video Shutterstock
Histori
Pendirian dan tahun-tahun awal (2003-2011)
Shutterstock was founded in 2003 by American businessman and computer programmer Jon Oringer. Creating an online market of its own, Oringer initially uploaded 30,000 photos of its own stock and made it available through a subscription, with unlimited downloads and a $ 49 monthly initial fee of $ 49. When the request exceeded his photographic supply, he became an agent and began hiring additional contributors. By helping pioneer the subscription-based photography business model, Shutterstock claims that it was "the world's largest subscription-based photo agency" in 2006, with 570,000 images in its collection. Shutterstock branched out into a movie in 2006 with the launch of Shutterstock Footage, and in 2007, the company had 1.8 million photos. Insight Venture Partners invested in the company that year. Shutterstock evolved beyond subscriptions to a la carte prices in August 2008, with its "On Demand" service removing download limits on a daily basis.
On September 23, 2009, Shutterstock announced that it had purchased Bigstock, a rival microstock-based photography agency. Fast Company believes the deal puts "Shutterstock on a competitive playing field with Getty, which iStockPhoto is also credit-based." Shutterstock CEO Jon Oringer stated that the addition would "allow Shutterstock to better satisfy the payment preferences of diverse stock photo shoppers around the world." Shutterstock has 11 million royalty-free share images in early 2010. In February 2011, Shutterstock announced a two-year partnership with the American Institute of Graphic Arts (AIGA) to provide creative inspiration to its members. Claiming it licensed the image more than "other brands around the world" in 2011, Shutterstock's November debut Shutterstock for the iPad, which is provided for free.
Acquisition and IPO (2012-2013)
With 200 million licensed image downloads per February 2012, in April 2012 the company has 18 million royalty-free images, which grew by 19 million the following month. Shutterstock Images LLC announces the Shutterstock Instant tool in May 2012, featuring images in interlocked mosaics to increase display speed. Shutterstock Instant was launched under the newly formed Shutterstock Labs, which developed tools and interfaces for Shutterstock, among other projects. Also in May 2012, Shutterstock filed an initial public offering on the New York Stock Exchange, which was completed on October 17, 2012 under the SSTK ticker. In November 2012, Shutterstock launches a universal iOS app intended for iPhone and iPad, among other devices.
Shutterstock, Inc. announced Spectrum, a new "image discovery tool," in March 2013. At that time, Shutterstock had 24 million photos, vectors and illustrations licensed in its portfolio. In August 2013, Shutterstock and Facebook announced a partnership to integrate Shutterstock's library within the Facebook Ad Builder, allowing advertisers to choose from Shutterstock images when creating ads. At that time, Shutterstock is available in 20 languages ​​including Thai, Korean, French, Italian, Portuguese, Spanish, German, Russian, Chinese and Japanese.
Offshore and new partnerships (2013-2014)
In September 2013, Shutterstock launched Offset, a market that prioritized curated photographs from famous artists. A few months later, he launched his first Android app. In October 2013, Shutterstock opened an office in Berlin, Germany. At that time, Shutterstock stated that it serves 750,000 customers, with 30 percent of those customers in Europe. Shutterstock shares have reached a market value of $ 2.5 billion in the fall of 2013, while revenues for 2013 are USD $ 235 million.
In March 2014, Shutterstock acquired Webdam, a provider of online digital asset management software. Also in March 2014, Shutterstock moved its headquarters to the Empire State Building. In May 2014, Shutterstock and Salesforce partnered to integrate Shutterstock image library into Social Studio Salesforce. Shutterstock made its debut with the Palette tool in July 2014, a "multi-color image discovery tool." Shutterstock announced it has surpassed 2 million video clips on September 2, 2014. Shortly afterwards revealed new apps intended to help contributors by uploading and categorizing photos. Shutterstock's revenue is $ 328 million in 2014, up 39% from 2013. By 2014, Shutterstock pays "over $ 83 million to about 80,000 contributors."
Recent developments (2015-2016)
In January 2015, Shutterstock acquired Rex Features, Europe's largest independent photo-press agent, and PremiumBeat, a stock music and sound effects service. The acquisition of Rex is estimated at $ 33 million, while PremiumBeat is bought for $ 32 million. Penske Media Corporation partnered with Shutterstock in June 2015 to create and license entertainment and fashion images. Under the terms of the agreement, by 2016 Shutterstock will have exclusive rights and licenses for the PMC archive, which includes magazines such as Variety , Women's Wear Daily and Deadline . Cray's writes that with the partnership, "Shutterstock, a stock image and music tracker, stepped into the world of red carpet and fashion runways - and took the mainstream photo and entertainment and video providers away from Getty Images archrival."
In March 2016, the company had "over 100,000 contributors," with around 70 million images and 4 million video clips available for licensing and sales. That month Shutterstock announced it will distribute material from the Associated Press in the United States, with a deal for the past 3 years and includes 30 million photos and about 2 million videos. The photos are expected to air in April. According to Entrepreneurs , Shutterstock also has an "active customer base of 1.4 million people in 150 countries."
Maps Shutterstock
Facilities and staff
Shutterstock is headquartered in New York City's Silicon Alley. In October 2013 Shutterstock opened a new European headquarters in Berlin, Germany at Kulturbrauerei, and in March 2014, Shutterstock had additional offices in Amsterdam, Chicago, Denver, London, Montrà © Ål, Paris, and San Francisco. After maintaining its New York headquarters for years at the Wall Street office, in March 2014 Shutterstock moved to the Empire State Building. By Inc. , offices were chosen with the aim of reducing travel time for New York employees. The new location was built without a private office, instead with 23 "pop-in rooms" for private meetings and conferences when needed.
Having established in 2003 with CEO Jon Oringer as a sole employee, in 2007 Shutterstock has grown to 30 people. In 2010 Oringer hired Thilo Semmelbauer as COO, who previously worked with TheLadders.com and Weight Watchers. With 295 employees as of October 2013, which has grown to 700 employees by 2016. By 2014, Fast Company publishes articles featuring Shutterstock as an example of a successful "intrapreneur" company, touting "hackathons" companies to cultivate staff creativity. Explaining Fast Company, "The most obvious benefit of intrapreneurship is the ability to pursue more opportunities, allowing Shutterstock to test the limits and experiment with offshoot products that can keep their core consumer base from switching to competitors because of their needs. "
Business model
Shutterstock licensed the media for online downloads on behalf of photographers, designers, illustrators, videographers and musicians, maintaining libraries of nearly 200 million royalty free stock photos, vector charts, and illustrations. Shutterstock also has 10 million video clips and music clips in its portfolio. While Shutterstock currently has several payment models, The Atlantic writes in 2012 that Shutterstock "pioneered a subscription approach for stock photo sales, enabling customers to download images in bulk than ÃÆ' la carte." The Atlantic further writes that Shutterstock is "the web community by way of Facebook or Twitter or Pinterest, with its value relying almost entirely on the enthusiasm of its contributors."
With potential contributors who can sign up for the site for free, Shutterstock has a review team "responsible for ensuring consistency and editorial quality." By 2016, if one of ten photographic photographs is accepted, then they become contributors to Shutterstock. In 2011, only about 20 percent of applicants were approved, and "less than 60 percent of all images uploaded by approved contributors were eventually posted on the site." Once approved, contributors can start uploading their work through the website. They provide keywords, categorize images, and send them to "checkout queues", where images are checked for quality, usability and copyright laws and trademarks. Each time a picture is downloaded, the photographer receives a flat rate. Explaining VICE, "photographers retain copyright on their images, but Shutterstock is given full permission to market, display and license images to customers on their site without the photographer's final approval." In March 2015, contributors added about 50,000 new images daily, and Shutterstock has paid approximately $ 250 million to contributors since its inception. In 2014, he paid $ 80 million to the contributors.
Products
Movies and music Shutterstock
Shutterstock began selling stock videos in February 2006. Shutterstock Footage operates similarly to their image library, offering subscription or clip-to-video clips. In 2014, Shutterstock Footage contains about 2 million royalty-free video clips. Shutterstock Music debuted later, with new content submitted by contributors.
Shutterstock app
Shutterstock for iPad was launched in November 2011, and in May 2012, the app received the Webby Award for People's Voice in the tablet application category for utilities and services. Shutterstock for iPad followed in 2012 by the universal iOS app, which in 2013 has been downloaded 650,000 times. The iOS app initially lacked the ability to download images, with later added functionality. Universal iOS apps also include new features for Shutterstock, including the ability to filter image search by color. Shutterstock debuted Android App in 2013, and in September 2014, Shutterstock launched a dedicated app for its contributors, both available for iOS and Android. This app allows contributors to upload, keyword and categorize new images.
Shutterstock Labs
In 2012, Shutterstock launched Shutterstock Labs, a laboratory for "tools and exploration products." In May 2012, Shutterstock Images LLC announced the Shutterstock Instant tool, which the company says is inspired by Shutterstock for the iPad. The interface displays images in an interlinked mosaic view, allowing users to view more photos in a shorter time. Shutterstock Instant is available on the Shutterstock Labs website. The prototype for the Spectrum search tool was launched on March 21, 2013. With in-house development by Shutterstock Labs, the tool "indexes hexagram data to generate color-based search results." In July 2014, Shutterstock launches the Palette, which lets users add color to search terms, in addition to keywords.
Offset
In September 2013 Shutterstock launches Offset, a stock photography market that focuses on high quality images curated from established artists. Described as a "high-end image service", the photo market is operated by an independent company, which is in turn owned by Shutterstock. Explaining Fast Company by 2014, Offset "was created to serve the immediate needs of existing customers looking for premium imagery for billboards, book covers and high profile signages for a fraction of the cost of special shooting." At launch, Offset has 45,000 images from around 100 artists and publishers such as National Geographic .
Computer vision
Shutterstock has developed a number of tools that utilize a "convolutional neural network" that is created to help with reverse image search technology. The network "is basically a computer system trained to recognize images - there are millions of specific items like cats, bikes, the night sky - and take the most relevant photos." The network was nicknamed a computer vision by Shutterstock, and it "breaks down key components of a photo numerically, draws from its pixel data, not metadata drawn from those tags and keywords."
"So many image databases fill the gaps with user behavior.If people search for the words 'bike' and 'fence' download a particular image more often, one may contain two things in it.... Computer vision [like Shutterstock] can change all that by eliminating the need of a keyword in the first place.Using a series of algorithms, a model can progressively survey each pixel in an image to select different features in it - color, shape, angular sharpness.Each calculation is a layer of network deep learning. "
On March 10, 2016, Shutterstock made its debut with the Reverse Image Search tool. According to the Entrepreneur, with the tool "users can upload images, either from Shutterstock or other sources, and the tool will call an image that looks like and has a nuance similar to the original photo." Reverse image search allows users to not only search by keyword, but also search for images based on "color schemes, moods, or shapes." Later that month, Shutterstock also debuted with the Similar Find and Discovery tool, with a "similar search" option provided under the photo on the Shutterstock website.
See also
- References of stock footage
- List of online image archives
- Photography stock/photography microstock
- Companies listed on the New York Stock Exchange (S)
- List of companies in United States
- List of companies based in New York City
- Silicone Alley
References
External links
- Official website
Source of the article : Wikipedia
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