NEW YORK, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Getty Images, a preeminent global visual content creator and marketplace, in collaboration with Verizon and the National Disability Leadership Alliance (NDLA), invites photographers and videographers to reimagine how the disability community is represented in professional settings. This global creative grant offers $20,000 in funding to help talented creators rewrite the narrative, showcasing the disability community as active, thriving professionals, leaders, an ...

NEW YORK, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Getty Images, a preeminent global visual content creator and marketplace, in collaboration with Verizon and the National Disability Leadership Alliance (NDLA), invites photographers and videographers to reimagine how the disability community is represented in professional settings. This global creative grant offers $20,000 in funding to help talented creators rewrite the narrative, showcasing the disability community as active, thriving professionals, leaders, an ...

Merger Details - Getty Images Holdings Inc (NYSE: GETY) is proposed to merge with Shutterstock Inc under an agreement where Shutterstock stockholders can elect to receive $28.84870 per share in cash, 13.67237 shares of Getty Images, or a mixed consideration of 9.17 shares of Getty Images plus $9.50 in cash per share [1] - Getty Images stockholders will own approximately 54.7% of the combined company post-merger [1] Law Firm Information - Monteverde & Associates PC is investigating the proposed merger between Getty Images Holdings Inc and Shutterstock Inc [1] - The law firm has recovered millions of dollars for shareholders and is recognized as a Top 50 Firm by ISS Securities Class Action Services Report [1] - Monteverde & Associates PC is headquartered at the Empire State Building in New York City and has a successful track record in trial and appellate courts, including the U.S. Supreme Court [2] Contact Information - Shareholders of Getty Images Holdings Inc can contact Juan Monteverde, Esq. via email at [email protected] or by telephone at (212) 971-1341 for additional information or concerns regarding the merger [3]

Merger Overview - Getty Images and Shutterstock announced a definitive merger agreement to combine in a merger of equals, creating a premier visual content company with an enterprise value of approximately $3.7 billion [1] - The combined company will be named Getty Images Holdings, Inc and will continue to trade on the New York Stock Exchange under the ticker symbol "GETY" [1] Strategic and Financial Benefits - The merger will create a content library with greater depth and breadth, expanded opportunities for contributors, and a reinforced commitment to inclusive and representative content [2] - Expected annual cost synergies between $150 million and $200 million by year three, with the merger expected to be accretive to earnings and cash flow beginning in year two [5] - The combined company will have a stronger financial profile, enabling increased capacity for product investment and innovation [2] Leadership and Governance - Getty Images CEO Craig Peters will serve as CEO of the combined company [7] - The Board of Directors will consist of eleven members, with six designated by Getty Images and four by Shutterstock, including Shutterstock CEO Paul Hennessy [7] - Mark Getty, currently Chairman of Getty Images, will serve as Chairman of the Board of Directors of the combined company [7] Transaction Details - Shutterstock stockholders can elect to receive $9.50 in cash per share, 9.17 shares of Getty Images stock per share, or a mixed consideration of both [8] - Aggregate consideration payable by Getty Images consists of $331 million in cash and 319.4 million shares of Getty Images stock [9] - At close, Getty Images stockholders will own approximately 54.7% and Shutterstock stockholders will own approximately 45.3% of the combined company on a fully diluted basis [11] Financial Profile - On a pro forma 2024 basis, the combined company would have revenue between $1,979 million and $1,993 million, with 46% from subscription revenue [14] - Pre-synergy EBITDA is expected to be between $569 million and $574 million, with pre-synergy Adjusted EBITDA less capital expenditures between $461 million and $466 million [14] - Pre-synergy net leverage is projected at 3.0x pro forma 2024 pre-synergy EBITDA [14] Innovation and Market Position - The merger facilitates greater investment in innovative content creation, expanded event coverage, and customer-facing technologies such as search, 3D imagery, and generative AI [6] - The combined company will offer a broader set of visual content products across still imagery, video, music, 3D, and other asset types [6] - The merger strengthens the balance sheet and cash flow generation, enabling accelerated debt repayment, reduced borrowing costs, and new value creation opportunities [6] Industry Impact - The merger positions the combined company to meet the evolving needs of creative, media, and advertising industries through enhanced content creation and technology innovation [5] - The rapid rise in demand for compelling visual content across industries makes the merger timely and strategic [3] - The combined company aims to deliver exceptional value to customers, contributors, and stockholders by capitalizing on attractive growth opportunities [3]

Happy New Year, everyone! It’s a time for reflection, and a perfect time to revisit old topics. Back in August, I wrote an analysis piece about Getty Images Holdings (NYSE: GETY ). It was trading near what wasI’m Jason Ditz and I have 20 years of experience in foreign policy research. My work has appeared in Forbes, Toronto Star, Minneapolis Star-Tribune, Providence Journal, Washington Times and the Detroit Free Press, as well as American Conservative Magazine and the Quincy Institute for Responsible Statec ...

NEW YORK, Dec. 17, 2024 (GLOBE NEWSWIRE) -- iStock, a leading e-commerce platform providing premium content to SMBs, SMEs, creatives, and students everywhere, has released its 2025 Marketing Trends Report, packed with practical strategies to help businesses thrive in today’s trust-driven marketplace. The report comes at a critical time when consumer trust in social media—a key tool for small businesses—is declining. According to iStock’s VisualGPS research platform, 81% of consumers don’t trust social medi ...

Core Insights - Getty Images released its 2024 Year In Review, showcasing impactful moments through powerful images and videos, covering various sectors including news, sports, entertainment, and marketing [2][3] Group 1: Company Overview - Getty Images documented over 160,000 events globally in 2024, including significant occurrences like global elections, the Paris Olympic and Paralympic Games, and cultural events such as The Eras Tour [3][4] - The company emphasizes its commitment to capturing history and inspiring conversations through its visual content, highlighting the resilience and shared humanity depicted in its imagery [4][6] Group 2: Creative Strategy - Getty Images supported the creation and distribution of millions of high-quality, data-backed visuals, aiding brands in developing effective visual strategies [5][6] - The company’s VisualGPS research indicates that nearly 90% of people globally desire authentic visuals, yet 62% struggle to discern authenticity, underscoring the importance of trust in visual content [6]

A Media Snippet accompanying this announcement is available by clicking on this link. NEW YORK, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Getty Images (NYSE: GETY), a preeminent global visual content creator and marketplace, today announced a content integration with TikTok to meet the diverse creative needs of marketers and advertisers. The integration allows advertisers and businesses direct access to Getty Images’ vast library of creative imagery and video content through TikTok's AI-powered video generation t ...

A Media Snippet accompanying this announcement is available by clicking on this link. NEW YORK, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Getty Images (NYSE: GETY), a preeminent global visual content creator and marketplace, today announced powerful new functionalities within its suite of commercially-safe generative AI tools, enabling businesses of all sizes to streamline the creation of high-quality, customized product imagery. Available on both Generative AI by Getty Images and Generative AI by iStock, the newl ...

Financial Data and Key Metrics - Revenue for Q3 2024 was $240.5 million, representing a year-on-year increase of 4.9% on a reported basis and 5.4% on a currency-neutral basis [4] - Adjusted EBITDA for the quarter was $80.6 million, up 0.4% on a reported basis and 0.8% on a currency-neutral basis, with an EBITDA margin of 33.5% [4] - Annual subscription revenue accounted for 52.4% of total revenue, with 96,000 new active annual subscribers added, reaching a total of 298,000, a 48% increase over the comparable LTM period [10] - Editorial revenue was $92.8 million, up 16.1% year-on-year, while creative revenue was $133.7 million, down 7.9% year-on-year [11][13] - Free cash flow showed a deficit of $1.8 million in Q3, compared to $12.8 million generated in Q3 2023 [16] Business Line Performance - Subscription business saw outstanding performance, with subscribers growing by nearly 50% versus the comparable LTM period, driven by iStock and Unsplash+ offerings [5] - Custom Content offering saw success with brands like Citi, Mitsubishi Motors, HSBC, Asahi, and 3M leveraging Getty Images for their content needs [6] - AI-related activations, such as the partnership with Sony Pictures for the Venom series, demonstrated the company's capabilities in generative AI [7] - iStock annual subscriptions grew approximately 17%, while Unsplash+ subscriptions grew triple digits [14] Market Performance - On a currency-neutral basis, revenue increased by 9.9% in the Americas, 1.3% in APAC, and EMEA was down less than 1% [10] - The company added approximately 18,000 new customers from targeted growth markets in EMEA, LATAM, and APAC [10] Strategic Direction and Industry Competition - The company is focused on driving growth through subscriptions, cross-selling, and upselling opportunities, particularly with its Premium Access subscription offering [5][6] - AI and generative AI capabilities are seen as a key growth area, with incremental adoption expected to contribute more significantly in 2025 [22][23] - Data licensing opportunities are being explored, with a focus on long-term alignment with the company's interests and those of its creators [24] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the company's trajectory, citing differentiation, execution, and commitment to providing durable value to customers [8] - The company is strategically investing in the business while maintaining fiscal discipline and paying down debt [20] - Full-year 2024 revenue guidance was increased to $934 million to $943 million, with adjusted EBITDA guidance raised to $292 million to $294 million [18][19] Other Important Information - The company repaid $20 million in debt voluntarily in Q3, with a total of $55.2 million applied towards debt repayment year-to-date [17] - Total debt outstanding as of September 30, 2024, was $1.35 billion, with a net leverage ratio of 4.2x [17] Q&A Session Summary Question: Update on GenAI adoption and data licensing opportunities - GenAI adoption is still in the early stages, with single-digit percentages of customers adopting these capabilities, but it is expected to become more material in 2025 [22] - Data licensing deals are being pursued selectively, with a focus on long-term alignment with the company's interests and those of its creators [24]