Shutterstock, Inc. (NYSE: SSTK), a global creative platform connecting brands and businesses to high-quality content, acquired Backgrid, a global premier destination for celebrity news supplying media organizations with real-time content from the world’s top photographers.
Through this acquisition, Shutterstock will expand its archive with an additional 30 million+ images and videos across celebrity, red carpet and live events, and add more than 1,400 contributors to its already industry-leading global photographer network. The deal will bolster the company’s coast-to-coast editorial coverage in the United States, while further extending the company’s reach globally.
This announcement follows a number of moves over the past few years, including the acquisition of Splash News, a 24/7 news and picture desk enabling editorial customers to release breaking news stories in real time, the launch of a new Shutterstock editorial subscription platform, as well as the expansion of exclusive partnerships with A&E, LIFE and Condé Nast, a new partnership agreement with The Grand Ole Opry via Opry Entertainment Group, and the launch of Shutterstock’s Rights & Clearance service.
Commenting on the deal, Backgrid CEO Alex Kantif, in alignment with his fellow co-founders Dan Taylor, Steven Ginsburg and Scott Cosman said: “We are thrilled to embark on this new journey in the evolution of Shutterstock and Backgrid as it sets us up to expand our business in ways that were previously limited.” This acquisition opens up exciting opportunities for growth and innovation for our global network of photographers, customers and our employees, and we look forward to pursuing them together.“
FinSMEs
01/02/2024