Shutterstock's Image Library Hits 4 Million Images —
A Record-Breaking Milestone for the Online Stock Photography Industry
World's largest microstock photo agency continues to experience rapid growth as Rodney Hobart, of Neosho, Missouri, "drives in" 4 millionth photo of historic Route 66 Landmark
New York, NY — July 7, 2008 —Shutterstock (www.shutterstock.com) the world's largest subscription-based online stock photo company, announced today that its royalty-free image bank has surpassed 4 million images - a major milestone which reinforces the Manhattan-based company's leadership position in the exploding global online stock photography industry. Shutterstock is also pleased to announce that Rodney Hobart, a photographer and designer/illustrator based in Neosho, Missouri, contributed the 4 millionth photo - an eye-catching image of a historic drive-in theater on Route 66. It was his first time submitting a photo to Shutterstock. "To be approved on my first go is an honor, but even more surprising was how fast my portfolio was reviewed," said Hobart. "I uploaded my photographs and was approved by the next day, while most microstock sites take five or more days to approve. I am a newbie to the site, but so far it has surpassed my expectations and I look forward to building up my portfolio in the next few months." Jon Oringer, Shutterstock founder and CEO, credits the submissions of talented photographers like Hobart to the company's tremendous growth. "We're growing exponentially thanks to our global community of top-notch submitters who upload their images to our library and supply our subscribers with a steady pipeline of fresh, creative content," said Oringer. "Today's more challenging economy coupled with a sophisticated Web 2.0 business environment has resulted in a greater demand for affordable, premium royalty-free images. As a result, Shutterstock is directly addressing the changing needs of the marketplace by providing an expansive selection of high-quality stock images via an affordable, user-friendly subscription model." Shutterstock adds more than 40,000 stock photos, vectors and illustrations per week and has added over 1.2 million stock images so far in 2008 alone. The company attributes its tremendous growth to its innovative business model, which harnesses the power of a broad spectrum of talented photographers and illustrators worldwide - from the seasoned professional to the skilled amateur - who upload their work to Shutterstock's website. Shutterstock chooses only the best of these images for its subscribers, who represent a global customer base of creative agencies, corporations, publishers and freelancers. In 2006, Shutterstock also launched its online stock footage business, Shutterstock Footage, and the company has already amassed more than 60,000 royalty-free stock footage clips, and adds over 1,000 each week. Footage is available by individual clip for as little as $10. In April of this year, Shutterstock made its stock footage available by subscription, following the model that made the company's stock photo site such a tremendous success.
About Shutterstock, Inc.
Shutterstock, Inc. (NYSE: SSTK), directly and through its group subsidiaries, is a leading global provider of high-quality licensed photographs, vectors, illustrations, videos and music to businesses, marketing agencies and media organizations around the world. Working with its growing community of over 160,000 contributors, Shutterstock adds hundreds of thousands of images each week, and currently has more than 100 million images and more than 5 million video clips available.
Headquartered in New York City, with offices in Amsterdam, Berlin, Chicago, Dallas, Denver, London, Los Angeles, Montreal, Paris, San Francisco, and Silicon Valley, Shutterstock has customers in more than 150 countries. The company also owns Bigstock, a value-oriented stock media agency; Offset, a high-end image collection; PremiumBeat a curated royalty-free music library; Rex Features, a premier source of editorial images for the world's media; and WebDAM, a cloud-based digital asset management service for businesses.
Siobhan Aalders and Niamh Hughes