Shutterstock Acquires Pond5, the World's Largest Video Marketplace
PR95941
NEW YORK, May 12, 2022 /PRNewswire=KYODO JBN/ --
-- The acquisition solidifies Shutterstock's position as the
marketplace leader for premium editorial and commercial video
and music content for creative professionals and enterprises
Shutterstock, Inc. (NYSE: SSTK), the leading global creative platform for
transformative brands and media companies, today announced the acquisition of
Pond5, the world's largest video-first content marketplace for filmmakers,
media organizations, and marketers worldwide. Pond5 is the world's leading
online marketplace for royalty-free and editorial video, with customers
including Netflix, Disney, NBC, BBC, Discovery Channel and The Wall Street
Journal. Pond5's comprehensive collection includes 30 million licensable video
clips, 1.6 million music tracks and 1.7 million sound effects assets.
Photo - https://mma.prnewswire.com/media/1815657/Shutterstock_POND5.jpg
Logo - https://mma.prnewswire.com/media/1075411/shutterstock_Logo.jpg
This acquisition solidifies Shutterstock's position as the premium destination
for its global customer community for unique access to editorial content, video
footage and music. Integrated with Shutterstock's workflow applications, this
expansive content library enables Shutterstock's global customer community to
create with confidence, and provides value to Pond5's 115K+ contributors, by
expanding the distribution of their content to new regions and customers.
Shutterstock Studios customers are also able to leverage their access to the
offering, integrating clips from Pond5's unparalleled offering into powerful
short form and long form content.
Pond5 combines their vast collection – which can be seen in various
destinations, ranging from films and TV shows including Succession and The
Queen's Gambit, to YouTube videos, video games and Super Bowl ads – with a
best-in-class search experience that makes it seamless for creators to find
what they need, even for the most unpredictable and niche content searches.
Since its inception in 2006, Pond5 has built an expanding contributor network
of over 115,000 active contributors across 180 countries, who upload over 2.5
million assets each month. Additionally, Pond5's premium editorial content
partners, such as Reuters, PA Media and British Movietone, will provide
Shutterstock's global customer community access to up-to-the-minute and
archival news footage.
"The acquisition of Pond5 provides immense value for our global customer base,
with unparalleled access to one of the largest collections of editorial and
commercial video content in the world," said Jon Oringer, Interim Chief
Executive Officer at Shutterstock. "Our contributors will also benefit from
having their work showcased on Pond5's platform, expanding their portfolio to
new customers."
Jamie Elden, Chief Revenue Officer at Shutterstock said, "With this
acquisition, we are able to offer our customers across global agency,
corporate, and media channels access to one of the largest premium archival
collections in the industry. Shutterstock is constantly reinventing, and this
acquisition brings together powerful creators and exceptional content to ensure
our customers have world class video, music and editorial collections at their
fingertips."
Tom Crary, CEO at Pond5 said, "We could not be more thrilled to join forces
with Shutterstock to lead the video and music space. Our combined editorial
offerings will be a competitive force in the market, and offer additional
choice to customers with highly exclusive editorial video content."
Transaction Highlights:
- Consideration for the transaction consists of $210 million of cash paid at
closing
- Further scales Shutterstock's video business and expands Shutterstock's
editorial offering with unique and high-quality exclusive video content
- Complementary customer base with powerful relationships with the world's
largest media outlets, social media platforms, and OTT streaming companies
- Maintaining 2022 revenue and adjusted EBITDA margin guidance
- Immediately accretive to 2022 adjusted EBITDA, even after one-time
transaction related costs
CapM Advisors acted as financial advisor, and Cahill Gordon & Reindel LLP acted
as legal advisor to Shutterstock. Jefferies LLC acted as financial advisor, and
Goodwin Procter LLP acted as legal advisor to Pond5. Investors can find a link
to the presentation materials on the Pond5 transaction at
https://investor.shutterstock.com (
)
About Shutterstock, Inc.
Shutterstock, Inc. (NYSE: SSTK) (
), is the leading global creative platform for transformative brands and media
companies. Directly and through its group subsidiaries, Shutterstock's
comprehensive collection includes high-quality licensed photographs (
), vectors (
), illustrations (
), 3D models (
), videos (
) and music (
). Working with its growing community of over 2 million contributors,
Shutterstock adds hundreds of thousands of images each week, and currently has
more than 405 million images and more than 25 million video clips available.
Headquartered in New York City, Shutterstock has offices around the world and
customers in more than 150 countries. The Company also owns Pond5, the world's
largest video marketplace, TurboSquid, the world's largest 3D content
marketplace (
), PicMonkey, a leading online graphic design and image editing platform (
); Offset, a high-end image collection (
); Shutterstock Studios, an end-to-end custom creative shop (
); PremiumBeat, a curated royalty-free music (
) library; Shutterstock Editorial, a premier source of editorial images (
) and videos (
) for the world's media; Amper Music, an AI-driven music platform (
); and Bigstock (
), a value-oriented stock media offering.
For more information, please visit www.shutterstock.com and follow Shutterstock
on Twitter (
) and on Facebook (
).
About Pond5
Pond5 strives to create world-class storytellers by providing creators of all
types with the content they need to tell stories, share knowledge, and inspire
audiences.
Driven by a commitment to its passionate and growing global community of more
than 115,000 professional visual and audio artists, Pond5 provides a platform
where creative work can flourish, and artists can make a sustainable living
with industry-leading revenue shares. Pond5 serves the needs of creators across
industries—from individual users to major corporations—with competitive pricing
and an array of purchase options including a unique pay per item model.
Purchases are backed by a broad and flexible license, a best price guarantee,
and a dedicated team standing by to provide expert assistance.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995. All statements other than
statements of historical fact are forward-looking. Examples of forward-looking
statements include, but are not limited to, statements regarding guidance,
industry prospects, future business, future results of operations or financial
condition, future dividends, our ability to consummate acquisitions and
integrate the businesses we have acquired or may acquire into our existing
operations, new or planned features, products or services, management
strategies, our competitive position and the COVID-19 pandemic. You can
identify forward-looking statements by words such as "may," "will," "would,"
"should," "could," "expect," "aim," "anticipate," "believe," "estimate,"
"intend," "plan," "predict," "project," "seek," "potential," "opportunities"
and other similar expressions and the negatives of such expressions. However,
not all forward-looking statements contain these words. Forward-looking
statements are subject to known and unknown risks, uncertainties and other
factors that could cause our actual results to differ materially from those
expressed or implied by the forward-looking statements contained herein. Such
risks and uncertainties include, among others, those discussed under the
caption "Risk Factors" in our most recent Annual Report on Form 10-K, as well
as in other documents that the Company may file 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. The forward-looking statements
contained in this press release are made only as of this date and Shutterstock
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, except as required by law.
Source - Shutterstock, Inc.
CONTACT: Aimée Leabon, press@shutterstock.com, 917-563-4991
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