×
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.

Popular on Variety

More Digital

  • The Simpsons

    Disney Plus Will Make 'The Simpsons' Available in Original Uncropped Format in Early 2020

    Eep! After an outcry from “The Simpsons” aficionados, Disney has decided to offer classic episodes of the iconic animated sitcom on Disney Plus in their original 4-by-3 aspect ratio early next year. The streaming service launched Nov. 12 in the U.S., Canada and the Netherlands with the full batch of “Simpsons” episodes in 16-by-9 HD [...]

  • Verizon Stream TV

    Stream TV Review: Verizon’s New Streaming Device Is One Odd Duck

    Verizon has an answer to Roku, but it’s not talking much about it: The mobile carrier quietly released a new streaming device this week that promises to bring services like HBO, Hulu and YouTube to your TV. Dubbed Stream TV, the device is a solid streamer based on Google’s Android TV platform, albeit with a [...]

  • Hulu With Live TV Full Channel

    Hulu Hiking Price of Live TV Service 22%, to $55 per Month

    Hulu is implementing its second price increase in less than a year for its Hulu With Live TV product — with the base package of 60-plus live channels increasing 22%, to $54.99 per month. The price hike on the monthly base price of Hulu With Live TV will go into effect Dec. 18 for all [...]

  • Hulu With Live TV

    Hulu Live TV Tops Sling TV as No. 1 Streaming Pay-TV Service, Analysts Estimate

    Hulu With Live TV has edged out Dish Network’s Sling TV to take the crown as the biggest virtual pay-television service in the U.S., according to new analyst estimates. They were among the only winners amid the cord-cutting carnage that slashed through the sector in the third quarter. As of the end of the third [...]

  • Mubi India

    Mubi Launches Two VoD Channels in India

    Film specialist streaming platform Mubi launched on Friday in India with two channels, Mubi India and Mubi World. The channels are available together for an introductory offer of INR 199 ($2.75) for three months. Thereafter the channels will cost INR 499 ($7) a month or INR 4788 ($66.75) annually. For Mubi India, a channel dedicated [...]

  • U.K. Producer Barcroft Studios Sold to

    U.K.-Based Producer Barcroft Studios Sold to Future in $30 Million Deal

    Barcroft Studios has been bought by Future in a £23.5 million ($30.1 million) deal. The U.K.-based production outfit specializes in factual fare for channels and platforms, and its own branded channels on the likes of YouTube. Future is a U.K.-listed print and online publishing and events business. Sam Barcroft will stay on as CEO at [...]

More From Our Brands

Access exclusive content