- SHUTTERSTOCK PARTNERS WITH OPENAI AND LEADS THE WAY TO BRINGING ARTIFICIAL INTELLIGENCE GENERATED CONTENT TO EVERYONE

NEW YORK, Oct. 25, 2022/PRNewswire/ -- Shutterstock, Inc. ("the Company") (NYSE: SSTK), the leading global creative platform for transformative brands and media companies, today unveiled its plan to action to launch its AI-generated content capabilities responsibly and transparently to its customers and partners. By expanding its partnership with OpenAI, launching a fund to compensate artists for their contributions, and focusing its R&D machinery on collecting and publishing insights related to AI-generated content, Shutterstock positions itself at the forefront of emerging technology. , promoting ethical and creative storytelling for all.

"The means to express creativity is constantly evolving and expanding. We recognize that it is our great responsibility to embrace this evolution and ensure that the generative technology that drives innovation is based on ethical practices," said Paul Hennessy, CEO of Shutterstock. "We have a long history of integrating AI into every part of our business. This expert-level competency makes Shutterstock the ideal partner to help our creative community navigate this new technology. And we're committed to developing best practices and experiences to fulfill our purpose, which is to empower the world to create with confidence.

Shutterstock OpenAI: Creativity at the speed of your imaginationThis collaboration introduces the seamless imaging capabilities of OpenAI to Shutterstock audiences around the world, giving customers the ability to instantly generate images based on criteria they enter. This is what Shutterstock calls creativity at the speed of your imagination.

This agreement deepens the strategic partnership between Shutterstock and OpenAI, which began in 2021.

"The data we got from Shutterstock was instrumental in training DALL-E," said Sam Altman, CEO of OpenAI. We are delighted that Shutterstock will offer DALL-E images to their clients as one of the first deployments through our API, and look forward to future collaborations as artificial intelligence becomes an integral part of consumers' creative workflows. artists".

When this integration launches on Shutterstock.com in the coming months, customers will receive direct access to these AI imaging capabilities enhancing their creative workflows. In turn, Shutterstock contributors will be compensated for the role their content has played in the development of this technology.

Shutterstock.AI Unveils New Revenue Streams for ContributorsShutterstock believes that AI-generated content is the cumulative effort of its contributing artists. In an effort to create a new industry standard and unlock new revenue streams for the company's artist community, Shutterstock has also created the framework to provide additional compensation to artists whose works have helped develop the AI ​​models. . The company also intends to compensate its collaborators in the form of copyrights when its intellectual property is used.

Establishing an Ethical and Fair AI Framework To promote an ethical and inclusive framework for content and AI, Shutterstock is proud to sponsor and participate in the World Ethical Data Foundation's 2022 global conference. With a strong focus on the importance of inclusion in technology, from hiring to reducing bias in systems and creating checks and balances to help ensure the ethical and inclusive use of data, Shutterstock continues to drive the advances in both technological innovation and AI in the creative industries.

And in an important effort to protect the intellectual property rights of its artists, photographers, and creators, Shutterstock continues to lead in developing policies, procedures, and methods of employment to ensure proper licensing and use rights are secured for all featured content, including AI-generated content.

Experience the power of Shutterstock.AILearn more about Shutterstock's initiatives around AI-generated content, including an exclusive AI-generated collection from creative producer Alex Ambroziak, at shutterstock.com/generate.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than historical facts are forward-looking. Examples of forward-looking statements include, but are not limited to, statements regarding directions, industry prospects, future business, results of operations or financial condition, future dividends, our ability to carry Pursue acquisitions and integrate businesses we have acquired or may acquire into our current operations, new or planned features, products or services, management strategies, our competitive position, and the COVID-19 pandemic. You can identify forward-looking statements by words such as "may", "will", "should", "could", "expects", "intends", "anticipates", "believes", "estimates", "intends", "plans". ", "predicts", "projects", "seeks", "potential", "opportunities" and other similar expressions, as well as the negatives of such expressions. However, not all forward-looking statements contain these words. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that could cause our actual results to differ materially from those expressed or implied by the forward-looking statements contained in this document. Such risks and uncertainties include, but are not limited to, those discussed in the "Risk Factors" section of our latest annual report on Form 10-K, as well as other documents that the Company may file from time to time with the Securities and Exchange Commission. As a result of such risks, uncertainties and factors, Shutterstock's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. The forward-looking statements contained in this press release are made only as of this date and Shutterstock undertakes no obligation to update the information contained in this press release or revise any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by law.

ACERCA DE SHUTTERSTOCK

Shutterstock, Inc. (NYSE: SSTK) is one of the leading global creative platforms for transformative brands and media companies. Directly and through its group subsidiaries, Shutterstock's complete collection includes high-quality licensed photography, vectors, illustrations, 3D models, videos, and music. Working with its growing community of more than 2 million contributors, Shutterstock adds hundreds of thousands of images each week and currently has more than 424 million images and more than 27 million video clips available.

Headquartered in New York City, Shutterstock has offices around the world and clients in more than 150 countries. The company also owns Splash News, the world's leading entertainment news agency for newsrooms and media companies, Pond5, the world's largest video marketplace, Pond5, the world's largest video content marketplace , TurboSquid, the world's largest 3D content marketplace, PicMonkey, a leading online graphic design and image editing platform; Offset, a collection of high-end images; Shutterstock Studios, a one-stop custom creative store; PremiumBeat, a royalty-free music library; Shutterstock Editorial, a leading source of editorial images and videos for media around the world; Amper Music, an AI-powered music platform; and Bigstock, a value-oriented stock media offering.

For more information visit www.shutterstock.com and follow Shutterstock on Twitter and Facebook.

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