Enables worry-free AI image licensing for enterprise customers and continues to reward hundreds of thousands of artists through Shutterstock's AI-specific Contributors Fund

NEW YORK, July 6, 2023 /PRNewswire/ -- Shutterstock, Inc. (NYSE: SSTK), a leading global creative platform delivering high-quality content and full-service creative workflow solutions for transformative brands, digital media and marketing companies, today announced its offer to provide Enterprise customers with full compensation for the license and use of generative AI images on its platform. Shutterstock will honor on-demand indemnity requests through human review in an effort to protect its clients against potential claims related to the use of generative AI images created and licensed from shutterstock.com.

"We are at an inflection point in the use of generative AI technology, as business professionals seek more guarantees around their rights to legally use AI-generated content, and original content creators want to ensure that that their work is licensed for fair use," said John Lapham, Shutterstock's general counsel. "We have always tried to manage risk for our clients and are uniquely positioned to bring a commercially viable imager to market and indemnify its results, thanks to our relationship with artists and our deep understanding of the intricacies of licensing. licences".

Previously featured during the Shutterstock Showcase, Shutterstock led the way, first offering this guarantee to a global tech customer who used an image generated on the Shutterstock platform for their virtual global developer conference in May 2023. Soon after, the company settled images for an upcoming television series for a major cable network. The company is now rolling it out to all enterprise customers on demand.

"This is a fundamental advance, not only for our platform, but for the industry, as both creatives and business professionals can use the AI ​​content generated on our platform for any purpose, commercial or personal, without worrying about copyright infringement or ethical issues," said Jeff Cunning, Vice President of Product at Shutterstock. "We are excited to play a leading role in shaping how generative capabilities can be harnessed ethically, safely, and more creatively than ever before. We believe this is a crucial step in protecting our clients and artists."

While client-created AI-generated images are not currently reviewed and vetted en masse on the Shutterstock platform, through this new offering exclusive to the Shutterstock platform, clients can license AI-generated content under the same protections that exist in your current agreement. That review will ensure that a customer using AI-generated content will not create any additional risk to that customer or its customers.

This severance offer is the latest in several strategic steps Shutterstock has taken as one of the leading innovators bringing AI to creative production, having recently launched its AI Design Assistant and AI Image Generator powered by DALL- E, Shutterstock's text-to-image technology that converts prompts into larger-than-life, ethically created, license-ready images. Shutterstock's AI Image Generator is trained on hundreds of millions of ethically sourced assets, including those from Shutterstock, to ensure that clients can generate and license new assets with complete commercial security, while protecting and compensating to the artists behind the content who trained the models. Shutterstock launched its first Contributor Fund in October 2022 which, to date, has compensated hundreds of thousands of artists for the role their intellectual property content has played in shaping Shutterstock's generative technology, with advance payments to million more, and has provided artists with ongoing royalties tied to licensing activity for newly generated assets.

Shutterstock intends to continue to invest, innovate, and engage in long-term strategic partnerships that amplify the value and impact of its library of high-quality content, enriched with extensive metadata, which leads the industry in size, diversity, and annotation, making it unmatched for training AI skills. To date, Shutterstock has partnered with NVIDIA, Meta, OpenAI, LG, and other technology industry leaders to develop foundational generative AI tools and standards for 3D, image, and text creators.

About Shutterstock, Inc.Shutterstock, Inc. (NYSE: SSTK) is a premier partner for transformational brands, digital media, and marketing companies, empowering the world to create with confidence. Powered by millions of creators around the world, a growing data engine, and a fearless approach to product innovation, Shutterstock is the leading global platform for licensing the broadest and most diverse collection of 3D models, high-quality videos, music, photos, vectors and illustrations. From the world's largest content marketplace, to editorial access to breaking news and top-tier entertainment, to the all-in-one content editing platform and studio production service, all using the latest in Innovative technology, Shutterstock offers the most comprehensive selection of resources to bring storytelling to life.

Learn more at www.shutterstock.com and follow us on LinkedIn, Instagram, Twitter, Facebook and YouTube.

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