×
You will be redirected back to your article in seconds

Shutterstock Acquires PremiumBeat, Rex Features

Commercial image and music provider Shutterstock upped its media libraries Thursday with acquisitions of PremiumBeat, a music and sound effects provider for videos, films, games and other creative projects, as well as Rex Features, Europe’s largest independent photo press agency.

The acquisition of PremiumBeat, at approximately $32 million in cash, comes on the heels of Shutterstock’s launch of its own stock music licensing service, Shutterstock Music. Rex Features, purchased for a reported $33 million, bolsters Shutterstock’s stock image library, especially with celebrity and entertainment imagery.

“We are excited to add such a complementary business in PremiumBeat, with a fast-growing customer base and an extraordinary collection,” said Jon Oringer, Shutterstock founder and CEO. “We understand the intersection between music and video and believe that music licensing will benefit from the same, strong market demand we are capitalizing on with video.”

Both businesses will eventually be folded into Shutterstock’s banner.

More Digital

  • Martin Kon - YouTube

    YouTube Hires Consultant Martin Kon as VP of Strategy

    Google’s YouTube tapped Martin Kon, who has worked as a tech, media, and telecoms consultant for more than two decades, as VP of strategy. Kon, based at YouTube’s headquarters in San Bruno, Calif., reports to chief business officer Robert Kyncl. Kon will work with YouTube senior execs to help formulate the long-term vision of the [...]

  • Sonos One

    Sonos Sues Competitor Bluesound for Patent Infringement

    Smart speaker maker Sonos has sued Lenbrook Industries, the company behind the audio brand Bluesound, for patent infringement. It’s the second such lawsuit from Sonos against a competitor, which has also been using its patents to gain concessions from the makers of voice assistants. In the lawsuit filed late last week in a California court, [...]

  • tubi tv roku

    Ad-Supported Video Service Tubi Tops 20 Million Monthly Active Users

    Ad-supported video service Tubi broke its own audience records in May: Tubi, which positions itself as a free alternative to Netflix, surpassed 20 million monthly active users last month, the company said Monday. The service’s users viewed more than 94 million hours of programming in May, according to Tubi, which also claimed to have brought [...]

  • First Media - Chris Athanassopoulos, Jocelyn

    First Media Names Chris Athanassopoulos CFO, Jocelyn Johnson as SVP of Brand

    First Media, the media company focused on millennial women audiences whose brands include BabyFirst TV, announced two new members of its executive team as it eyes expansion in 2019. Chris Athanassopoulos, previously Twentieth Century Fox’s VP finance for worldwide TV distribution, has joined First Media as its chief finance officer. (First Media’s previous CFO, Karl [...]

  • Chris Thorne - Beats

    Apple's Beats by Dre Taps Chris Thorne as Chief Marketing Officer

    Beats by Dr. Dre, Apple’s audio-products subsidiary, announced Chris Thorne — whose past gigs have included stints at EA and Jessica Alba’s The Honest Co. — as its chief marketing officer. Thorne takes on the CMO role after the departure earlier this year of Jason White, formerly Beats’ EVP and global head of marketing, who [...]

  • 76th ANNUAL GOLDEN GLOBE AWARDS --

    Viacom Partners With Tyler Perry for BET Plus Streaming Service

    Viacom’s BET Networks has teamed with Tyler Perry to create a subscription streaming service that combines the prolific auteur’s library of movies and TV shows with BET’s programming vault. The service dubbed BET Plus will bow in the fall with a handful of original series and productions and a deep library offering that will be [...]

More From Our Brands

Access exclusive content