Shutterstock press release
Shutterstock (NYSE: SSTK) announced this morning it’s expanding its editorial and music services through two acquisitions.
Rex offers media companies and advertisers images and videos that capture the world around us, including a live feed of tightly edited celebrity, entertainment, sports and news images and videos, along with access to a multi-decade archive of iconic images.
With offices in London and Los Angeles, Rex serves thousands of customers, including many of the world’s leading magazines, websites, newspapers, agencies, and broadcasters.
“The acquisition of Rex Features marks our substantive entry into editorial imagery – a new market for Shutterstock with significant potential and many opportunities to better serve global media companies,” said Jon Oringer, Shutterstock founder and CEO.
PremiumBeat is a leading provider of exclusive, high-quality music and sound effects for use in videos, films, television, apps, games, and other creative projects.
Music from PremiumBeat has been used by top companies like Apple, BMW, H2O Wireless, and Molson Canadian. It was also featured in the trailer for Mongrel Media’s Watermark.
Earlier this year Shutterstock set out to make licensable music accessible to any business with the launch of Shutterstock Music; the acquisition of PremiumBeat will help to accelerate this mission.
“We are excited to add such a complementary business in PremiumBeat, with a fast-growing customer base and an extraordinary collection,” said Jon Oringer, founder and CEO of Shutterstock. “We understand the intersection between music and video and believe that music licensing will benefit from the same, strong market demand we are capitalizing on with video.”