Getty Images buying Shutterstock to create a $3.7 billion visual content company

Shutterstock and Getty Merge to Meet AI Challenge in $3.7 Billion Deal

The two big players in the licensed visual content will pair up to counter threats from artificial intelligence tools like Midjourney.

DECRYPTION - This $3.7 billion strategic merger is the only way for the famous agency to deal with the upheavals induced by generative AI technologies.

Big Photo: Getty Images and Shutterstock merge in $3.7B deal to form a new visual content powerhouse

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Getty Images and Shutterstock to merge in $3.7bn deal

The recently announced merger will see Getty Images and Shutterstock combine in an effort to create ‘a premier visual content company’.

2 of the largest stock photo platforms are merging, sending their shares up

Getty Images is combining with Shutterstock.Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty ImagesGetty Images and Shutterstock are merging.The merger aims to save $200 million and boost revenue in three years.The new company will face competition from AI image-generation tools like Adobe's Firefly and DALL·E 3.Getty Images and Shutterstock are merging in a deal that could help the company better prepare for artificial intellige…

Getty Images has said it is going to team up with its rival Shutterstock to create a powerful stock image hub focused on the artificial intelligence era.