Shutterstock buys royalty-free media platform Pond5

Pond5 provides a royalty-free stock music service boasting a library of 1.6 million songs and 1.7 million sound effects. The acquisition set Shutterstock back $210m.

Pond5’s clients include companies such as Netflix, Disney, NBC, BBC, and Discovery Channel, among others, offering them a catalogue of about 30 million licensable video clips. The company was established in 2006 and now boasts a network of more than 115 000 active contributors in 180 markets.

Shutterstock said the deal strengthens its position among the stock image and video platforms that also offer rights-free music. Other companies offering similar services include Adobe, which partnered with Epidemic Sound and Jamendo, giving users access to the two platform’s royalty-free music catalogues. Getty Images also hosts a rights-free music library from Epidemic Sound.

The new deal follows Shutterstock’s buyout of AI music platform Amper Music in 2020 and adds to the company’s royalty-free music offering. In 2015, the platform acquired PremiumBeat, which also provides royalty-free music.

Shutterstock also announced Paul Hennessy as its new CEO, effective 1 July. Hennessy will replace Shutterstock founder Jon Oringer, who will remain executive chairman of the board. Oringer has been acting CEO since Stan Pavlovsky exited the position earlier this month.

“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,” Oringer said. “Our contributors will also benefit from having their work showcased on Pond5’s platform, expanding their portfolio to new customers.”

Shutterstock chief revenue officer Jamie Elden said: “With this acquisition, we are able to offer our customers across the global agency, corporate, and media channels access to one of the largest premium archival collections in the industry. Shutterstock is constantly reinventing, and this acquisition brings together powerful creators and exceptional content to ensure our customers have world-class video, music, and editorial collections at their fingertips.”