We are actively investing particularly now in diversity and inclusion. “The biggest reasons why customers come to Shutterstock is that we have contributors from all over the world that have very authentic and fresh content that they get regularly. The company is eager in expanding to diversify its market and its content.
He said if the growth trend continues in Korea, it will invest in more employees. There are around 13,000 content contributors in the country and the company recently launched a Korean entity with a team of five workers. He also said South Korea is one of the fastest growing markets for Shutterstock as Korean customers are realizing the need for creative content. The company plans to get a help from technology such as artificial intelligence to establish strong algorithms to provide customized content, he added. He said the company’s goal was to “have the biggest library in the world,” but now it is to make it specialized for each customer’s needs very quickly. Shutterstock is a provider of high-quality licensed photos, music, vectors, videos and illustrations to customers like YouTube content creators, small businesses and marketing agencies based for a monthly subscription fee. He believed subscriptions will rapidly grow as a revenue stream for media companies because the business model is “predictable”, unlike project-based model, and it helps firms strengthen customer retention as people are increasingly used to subscriptions as a way of “flexibility”, he said during the recent interview with Maeil Business Newspaper.Īs media companies have realized that they cannot just rely on advertising “because large platforms are capturing a majority of those revenues,” he said more and more such firms like Twitter, Disney and Hulu have been releasing subscription products.
Shutterstock subscription download#
I think that subscriptions are only going to grow as a revenue stream for media companies,” according to Pavlovsky who has come to head the company during the outbreak of pandemic.įounded in 2003, Shutterstock based in New York allows users to download 10 or more images a month for a monthly subscription fee of around 50,000 won ($42). Now, even small businesses have to develop digital capabilities.
“The digital transformation during the pandemic is really being accelerated. Subscription-based business model will be the key to the future media industry as more and more consumers want to enjoy content anywhere, anytime on any device, says Stan Pavlovsky, chief executive officer of royalty-free images provider Shutterstock.
0 kommentar(er)
