Markets News Report
July 11, 2023

Shutterstock to Provide OpenAI with Training Data in New Partnership Deal

Shutterstock, the provider of stock images, footage and music, today announced that it has expanded its partnership with OpenAI. 

Through a new six-year agreement, Shutterstock has granted OpenAI a license to access Shutterstock training data including Shutterstock’s image, video and music libraries and associated metadata. In return, Shutterstock will have access to to the latest OpenAI technology, and will continue to integrate DALL·E’s generative text-to-image capabilities into the shutterstock.com platform.

Apart from text-to-image generation, the integration will enable Shutterstock customers to edit any image in the entire Shutterstock library to suit their ideation and production needs. Shutterstock and OpenAI will also collaborate to bring generative AI capabilities to Shutterstock’s newly acquired GIPHY platform.

Paul Hennessy, CEO of Shutterstock, said that the expanded partnership will position the stock digital media provider as the preferred data and distribution partner for industry leaders in generative AI.

Brad Lightcap, COO of OpenAI, added, “This extended collaboration not only enhances the capabilities of our image models but also empowers brands, digital media, and marketing companies to unlock transformative possibilities in content creation and ideation. We look forward to bringing the next generation of generative AI capabilities to Shutterstock and GIPHY’s vast user base, further revolutionizing the way people express themselves through visual media.”

Shutterstock and OpenAI announced their strategic partnership last October. This partnership expansion is the latest in several strategic steps Shutterstock has taken to bring generative AI capabilities to the creative industry.

Earlier this year, the company launched its AI Image Generator, a DALL·E-powered tool that allows users to instantly create customized visuals with text prompts.

Shutterstock said it was the first to introduce a Contributor Fund which has compensated hundreds of thousands of artists whose content IP has been used to train the company’s generative AI technology. The fund also pays artists ongoing royalties tied to licensing activity for newly generated assets.

Besides OpenAI, Shutterstock has also partnered with industry leaders such as NVIDIA, Meta, LG and others to develop foundational generative AI tools and standards for creators across 3D, images and text.

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About The Author

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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