has announced a new multi-year partnership with Reka, an AI company. Like its relationships with Meta, Alphabet, Amazon, Apple, and OpenAI, Shutterstock is licensing its data for Reka to train AI models.
Licensing assets and associated metadata is a significant and growing part of Shutterstock’s business operations.that Shutterstock made $104 million in revenue last year through just its licensing agreements with AI companies. Reka’s CEO Dani Yogatama says it best. “It was critical for us to partner with Shutterstock given its comprehensive source of legally licensable content with best-in-class, human-created metadata.”
Reddit is getting about $60 million a year from Google for its data and is leveraging its data with OpenAI thanks to a new pact. Getty Images, another stock agency, works with generative AI video company Runway. There are, and that seems unlikely to change anytime soon.