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Shutterstock has reported significant growth in its AI data licensing business, generating $104 million in revenue in 2023. The company's CEO, Paul Hennessy, highlighted that this revenue was achieved through partnerships with major tech companies such as Meta, Google, Amazon, Apple, and OpenAI. Shutterstock's marketplace of images and videos is being used to train AI models, positioning the company as a key player in the AI data licensing market. Additionally, Shutterstock has recently signed a new deal with AI company Reka and expects to increase its annual revenue from AI licensing to $250 million by 2027. The company's stock ticker is $SSTK.
Shutterstock has signed another deal to license its assets to an AI company; this time, it's Reka. Shutterstock made $104 million in revenue through similar deals last year and expects to make $250 million annually by 2027. https://t.co/0g3zlqkOJr
Shutterstock has quietly built one of the world's largest AI data licensing businesses. It cleared $104M last year by letting firms like OpenAI and Meta train on its marketplace of images and videos. $SSTK https://t.co/zhlV3saH4f
Shutterstock's AI-licensing business soared with $104M revenue last year š°š Partnering with top tech giants like Meta, Google, Amazon, and Apple š¤ Exciting insights on AI innovation! #AI #TechInnovation https://t.co/eP0HHGUm34
