Getty And Shutterstock Are Merging. Here's What It Means For Creators And Businesses.

Getty Images and Shutterstock announced plans to merge connected Tuesday to create 1 institution named, Getty Images Holdings, Inc. The news arrives arsenic Getty plans to observe its 30th twelvemonth successful business.

The 2 imaging powerhouses, which proviso editorial and imaginative photos, videos, and overmuch to hundreds of thousands of individuals and businesses, are entering into a "merger of equals" wherever 2 companies personification almost nan aforesaid marketplace capitalization.

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Peters is staying connected arsenic CEO and nan caller institution will beryllium nether nan ticker awesome "GETY" connected nan New York Stock Exchange.

Getty Images investors will ain astir 54.7% of nan mixed institution and Shutterstock stockholders will ain nan rest, per Reuters.

What Does This Mean for Getty and Shutterstock Customers?

Peters noted successful his relationship that, for existing customers, "nothing astir your business narration pinch Getty Images will change" and if your business has questions, to relationship your Getty representative.

As AI and deepfakes personification analyzable nan imaging landscape, nan merger of nan company's portfolios will summation nan number of existent and humanities photos, videos, and different forms of media disposable to customers.

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"With nan accelerated emergence successful petition for compelling ocular contented crossed industries, location has ne'er been a amended clip for our 2 businesses to recreation together," Peters said. "By combining our complementary strengths, we tin amended reside customer opportunities while delivering exceptional worthy to our partners, contributors, and stockholders."

Shutterstock's CEO Paul Hennessy said successful a connection that nan merging of nan 2 company's contented libraries will "enhance our merchandise offering to meet divers customer needs."