Shutterstock, Inc. (SSTK)

Over the past six months, Shutterstock's stock has underperformed the S&P500 Index. In February 2026, Shutterstock reported record-setting revenue and Adjusted EBITDA for 2025, driven by its Data, Distribution, and Services business. In March 2026, Shutterstock expanded its licensed training datasets for Generative AI. In April 2026, Shutterstock launched a licensed content app in ChatGPT and expanded its GenAI solutions with an AI Video Generator. Also in April 2026, the company reported disappointing First Quarter 2026 Financial Results, with revenue falling 18% year-over-year. The proposed merger with Getty Images has been a significant event, with the United States Department of Justice granting antitrust clearance in February 2026, but the UK CMA demanding a full divestiture of Shutterstock's entire editorial business.

The demand seasonality for Shutterstock's products and services is not explicitly detailed. Demand may fluctuate with economic cycles, marketing budgets, and project-based creative needs. The company's reliance on subscription revenue makes it vulnerable to economic downturns or changes in customer behavior.

Shutterstock, Inc. is a U.S.-based company in the Communication Services sector, providing a global creative platform with scalable creative and generative AI solutions. Its business is divided into Content (licenses for digital assets like images, footage, and music) and Data, Distribution, and Services (data licensing and AI solutions). The Content offering includes Shutterstock Content, Shutterstock Studios, Pond5, TurboSquid, PicMonkey, PremiumBeat, Splash News, Bigstock, and Offset.

Shutterstock is headquartered in New York City and has 17 global offices in major cities across the US, Canada, Europe, Asia, and Australia, including London, Berlin, Montreal, Toronto, and Singapore. The company generates most of its revenue from the U.S. but has a significant presence in Europe and other countries.

Shutterstock's brand reputation has been influenced by its commitment to ethical AI practices, including paying artists for AI-generated content. The proposed merger with Getty Images has brought scrutiny from regulatory bodies like the UK's CMA. The FTC investigation into subscription practices, resulting in a $28 million legal contingency, could also affect brand perception.

Shutterstock has a mixed ownership structure including institutional, retail, and individual investors. Institutional investors hold 59.9% of outstanding shares. Major institutional owners include BlackRock, Inc., Vanguard Group Inc, LSV Asset Management, Alpine Associates Management Inc., Callodine Capital Management, LP, Dimensional Fund Advisors Lp, State Street Corp, Balyasny Asset Management Llc, Invenomic Capital Management LP, and Morgan Stanley. Jonathan Oringer, the company's founder, owns approximately 33.3% of Shutterstock's shares.