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It’s Not Stock, It’s Shutterstock

A leading global technology company offering a creative platform for high-quality content, tools and services to businesses, marketing agencies and media organizations around the world.

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Freshest content

  • 340M+ images
  • 19M+ video clips
  • Thousands of music tracks

Innovation-driven

  • Advanced search
  • Computer vision technology
  • Leading creative platform

Proven performance

  • Founded 2003
  • NYSE listed: 2012
  • Consistent revenue growth and strong profitability

Worry-free licensing

  • Royalty-free licenses
  • Rigorous content review process

Investment Highlights

  • Expanding TAM with Multiple Industry Tailwinds
  • Benefiting from Scale and Network Effect
  • Evolving to a Subscription Business Model
  • Diversified Across eCommerce, Enterprise and API Channels
  • Shareholder Returns Driven by Margin Expansion and Capital Return
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Expanding Total Addressable Market

Total Addressable Market

  • Stock Imagery
    $4BN +7%
    $4BN +7%
  • Music
    $1.1BN +4.7%
    $4BN +7%
  • Video
    $0.6BN +7%
    $4BN +7%
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The Prosumer Market Opportunity

While professional creatives have always been a core source of demand for Shutterstock, the Casual Creative or “Prosumer” represents an important new trend driving our business forward.

  • Prosumers increased use of stock images, video, and music in social media to communicate views towards brands and products.

  • Shutterstock's global scale and embedded relationships with leading social media platforms are allowing us to capitalize on this emerging opportunity

  • Pervasive nature of easy to use editor tools is enabling the growth of the casual creative or “prosumer” market

  • Shutterstock is at the beginning of the journey to monetize data assets through sale of data insights and refined data sets to select strategic partners, and embedding content performance data natively into our search and content presentation capabilities.

Source:

Market size and growth estimates based on 2019 Technavio Global Stock Images , Video, Music Market reports.

Industry Tailwinds

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  • Digital advertising

    Worldwide digital ad spending will achieve 2.4% growth this year, to $333 billion total for 2020. Digital will account for roughly half of the global ad market.

  • Website Proliferation

    Increase in number of websites, website personalization and micro-sites - growth from ~230MM to ~1.6BN over past 10 years

  • Video on Demand

    The Global Video on Demand Market was over $32 billion in 2018 and is expected to reach over $160 billion by 2027, growing at a CAGR of 19.5% during the forecast period.

  • Mobile use

    In 2019, the number of worldwide smartphone users surpassed three billion and is forecast to further grow by several hundred million in the next few years.

  • Social Media

    While gains in time spent with social media had stalled in recent years, the pandemic has led to increased usage. In 2020, US adult social network users will spend 7 more minutes per day on social networks than in 2019.

Source: Social Media and Digital Advertising data obtained from www.emarketer.com. Video on Demand content obtained from www.Marketwatch.com. Mobile Use and Podcasting data obtained from www.statista.com. Website number and growth estimates from internetlivestats.com.

The Stock Content Customer

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Use Cases for Stock Content

Utilization of stock content extends across a diverse set of media types, as follows:

Source: Shutterstock Market Tracker, Q4 2019.

Evolving to a Subscription Business

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Global Marketplace Network Effect

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eCommerce Channel

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  • Self-service sales channel
  • Variety of plans for royalty free licensing of images, footage and music
  • Standardized and enhanced content licenses available
  • Leading edge search capabilities and editing tools
  • Continuous improvement on localization and personalization
  • Mobile application for browsing and consumption
  • Represents over 60% of Shutterstock’s business
  • Focused marketing spend to drive online conversion
  • Direct marketing investment to maximize ROI and customer LTV
  • In Top 500 of most visited websites
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Enterprise Channel

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    • Business for our sales-assisted and high-touch delivery products
    • Tailored solution offering with white glove treatment
    • Full service account management approach to delivery
    • Responsive to unique customer content needs
    • Team experience products streamlining workflow for multi-seat subscriptions
    • Facilitating team collaboration and workflow
  • This channel also includes revenues from:

    • Editorial offering
    • Custom branded content utilizing our Smartbrief workflow
    • Asset Assurance
    • API solutions

Ecosystem of API Partners

Across Social Media, Search, Website Hosting, and Marketing Technology

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  • Value to partner

    • Streamline access to content
    • Keep users on platform, upsells, revenue share
    • Boost campaign completion and performance
    • Re-sell professional content, drive revenue
    • Create image search algorithm
    • Offer content on platform
    • Editing on platform
  • Value to Shutterstock

    • Makes customers stickier, drive additional licensing
    • New monetization path
    • New customer, new revenue
    • Unlock new market
    • New business line
    • Right place, right time
    • Build brand awareness, move towards monetization
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Unique First Party Data Assets

Shutterstock is at the beginning of the journey to monetize data assets through sale of data insights and refined data sets to select strategic partners, and embedding content performance data natively into our search and content presentation capabilities.

Unique First Data
Proprietary data assets include:
  • Global trends around content preferences pertaining to consumer intent and culture (Creative Trends 2019, 2020)

  • Performance and download data to help marketers optimize around content selection

  • API integrations to allow for real time data updates rather than static inferences

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Note: Graphic shows actual activity from July 1st, 2020 at 11:56AM.

It’s Not Stock, It’s Shutterstock

A redefinition of what to expect from stock.
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Management Team

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  • Jon Oringer Founder and Executive Chairman
  • Stan Pavlovsky Chief Executive Officer
  • Jarrod Yahes Chief Financial Officer
  • Peter Silvio Chief Technology Officer
  • Avi Muchnick Chief Product Officer
  • Jamie Elden Chief Revenue Officer
  • Heidi Garfield SVP, General Counsel
  • Julie Porro Chief Information Security Officer
  • Steven Ciardiello Chief Accounting Officer
  • Paul Brennan VP, Content Operations
  • Alex Reynolds VP, Platform Solutions
  • Candice Murray VP, Editorial
  • Hugues Hervouet VP, Infrastructure
  • Elley Cheng VP, General Manager - Image and Motion
  • Kunal Mehta VP, Sales Operations
  • Csaba Szabo VP, EMEA Sales
  • Yvonne Januschka VP, APAC Sales
  • Matt Cowley VP, Acquisition Marketing
  • Denise Quaglia VP, Global Customer Care
  • Chip Schenck VP, Sales Innovation
  • Sascha Weis VP, Sales - Americas
  • Jon Oringer Founder and Executive Chairman
  • Stan Pavlovsky Chief Executive Officer
  • Jarrod Yahes Chief Financial Officer
  • Peter Silvio Chief Technology Officer
  • Avi Muchnick Chief Product Officer
  • Jamie Elden Chief Revenue Officer
  • Heidi Garfield SVP, General Counsel
  • Julie Porro Chief Information Security Officer
  • Steven Ciardiello Chief Accounting Officer
  • Paul Brennan VP, Content Operations
  • Alex Reynolds VP, Platform Solutions
  • Candice Murray VP, Editorial
  • Hugues Hervouet VP, Infrastructure
  • Elley Cheng VP, General Manager - Image and Motion
  • Kunal Mehta VP, Sales Operations
  • Csaba Szabo VP, EMEA Sales
  • Yvonne Januschka VP, APAC Sales
  • Matt Cowley VP, Acquisition Marketing
  • Denise Quaglia VP, Global Customer Care
  • Chip Schenck VP, Sales Innovation
  • Sascha Weis VP, Sales - Americas

Financial Performance

Shutterstock By The Numbers

Note: Key Metrics as of June 30, 2020, unless otherwise noted

  • 16% Adj. EBITDA Margin (LTM)
  • 223,000 Total Subscribers
  • 38% Subscriber Revenue as a % of Total (LTM)
  • $326 Revenue per Customer (LTM)
  • 1.9M+ Customers
  • 6 Images Downloaded
    Per Second
  • 1.4M+ Contributors
  • 340M+ Images
  • 19M+ Video Clips

Revenue Trends

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Operating Expenses

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Cash Flow & Capital Return

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Frequently Asked Questions

  • 1.1 Competitive Landscape
  • 1.2 Emerging “Prosumers” Opportunity
  • 1.3 Enterprise Channel Turnaround
  • 1.4 M&A Strategy
  • 1.5 Levers for Margin Enhancement
  • 1.6 Capital Allocation

Financial Statements and Non-GAAP Information

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See all charts used in this presentation

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