NEW YORK - Shutterstock , Inc. (NYSE: NYSE:SSTK), a global leader in creative content licensing, has announced the acquisition of Backgrid, a prominent provider of celebrity news and photography. This move will add over 30 million images and videos to Shutterstock's extensive archive and enhance its network with more than 1,400 contributors.
The transaction, which took place today, aims to reinforce Shutterstock's editorial coverage across the United States and extend its global reach. With this acquisition, Shutterstock customers will gain access to a broader range of entertainment and editorial content. Aimee Egan, Shutterstock's Chief Enterprise Officer, emphasized the enhanced value this deal brings to both Backgrid and Shutterstock clients.
According to Backgrid CEO Alex Kantif, the acquisition marks a new chapter for the company, promising growth and innovation opportunities for its network of photographers and customers. The integration of Backgrid's assets is expected to support Shutterstock's strategic vision to lead in providing high-quality celebrity news content.
Shutterstock's recent strategic moves include acquiring Splash News, launching an editorial subscription platform, and forming exclusive partnerships with various media and entertainment companies. These steps underscore the company's commitment to expanding its editorial business and content offerings.
The acquisition's financial terms were not disclosed. This press release contains forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ from those anticipated.
Based on a press release statement, this news outlines the latest development in Shutterstock's expansion efforts, positioning the company to further dominate the creative content licensing market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.