Getty Images and Shutterstock have agreed to merge in a deal valued at $3.7 billion.
The merger will unite two of the biggest names in stock photography and video content, with Getty’s shareholders owning 54.7% of the new entity and Shutterstock shareholders holding 45.3%.
As part of the deal, Shutterstock investors can choose between cash or shares in Getty Images. The merger comes at a pivotal time as AI technology begins to disrupt the stock image industry.
AI tools like MidJourney and Dall-E allow users to create images and videos, presenting both a challenge and an opportunity for traditional image providers.
Getty Images, which owns brands like iStock and Unsplash, plans to leverage the merger to strengthen its financial base and enhance its content offerings.
CEO Craig Peters emphasized the company's focus on investing in new technologies and expanding coverage to better serve customers.
This deal could face antitrust scrutiny, as it combines two major players in the market. Despite potential regulatory challenges, the merger represents a significant shift in the stock photo industry, with both companies seeking to stay ahead in the age of AI-driven content creation.
