Shutterstock acquires stock video marketplace Pond5 for $210M
Shutterstock's purchase of Pond5 is another step in the company's efforts to scale its library beyond stock photos, further expanding its library of video, music and sound effects.
Why it matters: Content marketplaces have been rapidly consolidating as companies see opportunities combining assets, contributor networks and customers.
Details: Pond5's collection includes 30 million licensable video clips, 1.6 million music tracks and 1.7 million sound effects assets.
- Its customers include Netflix, Disney, NBC, BBC, Discovery Channel and The Wall Street Journal.
- "The acquisition of Pond5 provides immense value for our global customer base, with unparalleled access to one of the largest collections of editorial and commercial video content in the world," Jon Oringer, interim CEO at Shutterstock, said in a statement.
Of note: On Wednesday, Shutterstock announced Paul Hennessy has been named CEO, effective July 1. He succeeds Oringer, Shutterstock's founder who will remain as executive chairman of the board.
Context: This is far from Shutterstock's first acquisition. Last year, it bought TurboSquid and PicMonkey. Earlier, it acquired Amper Music, Flashstock Technology, Rex Features, PremiumBeat, WebDAM and Bigstock.
- Pond5 further grows Shutterstock's collection of royalty-free music, which its competitors have also been growing. Adobe works with Epidemic Sound and Jamendo. Getty Images hosts music from Epidemic Sound, too, Music Business Worldwide's Murray Stassen writes.
The intrigue: Since Shutterstock is so much more than photos now, does its name even make sense anymore?