Shutterstock Releases 10-K Report

By Tamara Parker • Tuesday, February 25 15:18 • Permanent Link

Shutterstock, Inc. has recently released its 10-K report, providing a comprehensive overview of its business operations. The company, headquartered in New York, operates a leading global creative platform connecting brands and businesses to high-quality content. Its services include images, footage, music, 3D models, and generative AI content, catering to various industries such as advertising, media and video production, gaming, retail, education, design, and architecture. Shutterstock serves over 4.0 million active, paying customers, and its collection of content has grown to 800 million images and 59 million footage clips as of December 31, 2024.

In its 10-K report, Shutterstock provided an in-depth discussion and analysis of its financial condition and results of operations. The report also highlighted the company's recent developments, including its merger agreement with Getty Images Holdings, Inc. The merger, subject to various conditions, aims to combine the two companies in a merger-of-equals transaction.

The company's revenue for the year ended December 31, 2024, totaled $935.3 million, with the majority of the revenue coming from its Content offering, which amounted to $760.0 million. Additionally, its Data, Distribution, and Services offering contributed $175.3 million to the total revenue.

Shutterstock's key operating metrics for the year ended December 31, 2024, include 459,000 subscribers, generating subscriber revenue of $318.6 million. The average revenue per customer over the last twelve months was $450, and the number of paid downloads totaled 134.3 million.

Furthermore, the report highlighted the company's strategic acquisitions, such as Giphy, Backgrid, and Envato, which have expanded its offerings and enhanced its position in the market. These developments are part of Shutterstock's efforts to meet the evolving demands of its customers and provide alternative means for consuming its creative offerings. Today the company's shares have moved -4.2% to a price of $23.45. Check out the company's full 10-K submission here.

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