Getty "provides wire service photography and video to news outlets and businesses globally," while Shutterstock

The combined company, which will be called Getty Images, will be worth $3.7 billion, Getty said on Tuesday.

Two giants of the stock image industry, Getty Images and Shutterstock, are merging to create a $3.7 billion powerhouse built for the age of artificial intelligence. According to a report by Reuters on Tuesday,

Getty and Shutterstock merge to combat industry decline, but there are hurdles that the combined company will need to clear. Learn more on GETY stock here.

News of the merger sent Getty stock surging by nearly 60% in pre-market trading on Tuesday. The stock was selling at $2.57 a share on Monday.

are betting that the combination will help them cut costs and grow their business by unlocking more revenue opportunities at a time when the growing use of generative AI tools such as Midjourney poses a threat to the industry. Shutterstock shareholders can ...

Shutterstock are joining forces in a merger valued at around $3.7 billion, the companies announced on Tuesday. The merger will allow the companies to expand their stock photo libraries as they face increasing competition from AI-powered image creation tools.

Getty Images and Shutterstock will merge into one company valued at $3.7 billion in a deal that aims to take on competition from AI, the companies announced on Tuesday. The new premier visual content company will be called Getty Images Holdings, Inc. and at close, Getty Images’s CEO, Craig Peters, will serve as CEO of the combined company.

The giant commercial photo and video providers are grappling with the emergence of artificial intelligence tools that have flooded the internet with AI-created images. By Erik Hayden Executive Editor, Business Getty Images and Shutterstock, two of the ...

Getty’s acquisition of Shutterstock could influence the future of creative assets. Learn its impact on SEO, content visibility and more.

This news was welcomed by investors of both companies, with GETY stock rising 25% and SSTK stock rising 14% on Tuesday, January 7.

Getty Images announced that it would buy rival Shutterstock to create a $3.7 billion visual content company which is set to become a powerhouse in the industry.