The two big players in the licensed visual content will pair up to counter threats from artificial intelligence tools like Midjourney.

News of the merger sent Getty stock surging by nearly 60% in pre-market trading on Tuesday. The stock was selling at $2.57 a share on Monday.

Shutterstock are joining forces in a merger valued at around $3.7 billion, the companies announced on Tuesday. The merger will allow the companies to expand their stock photo libraries as they face increasing competition from AI-powered image creation tools.

Getty Images announced that it would buy rival Shutterstock to create a $3.7 billion visual content company which is set to become a powerhouse in the industry.

Getty Images is the bigger company of the two, and its shareholders will own approximately 54.7% of the new entity, while Shutterstock shareholders will own 45.3%. Getty Images also owns the iStock and Unsplash brands. The company will simply be called Getty Images.

The giant commercial photo and video providers are grappling with the emergence of artificial intelligence tools that have flooded the internet with AI-created images.

This news was welcomed by investors of both companies, with GETY stock rising 25% and SSTK stock rising 14% on Tuesday, January 7.

Getty Images and Shutterstock will merge into one company valued at $3.7 billion in a deal that aims to take on competition from AI, the companies announced on Tuesday. The new premier visual content company will be called Getty Images Holdings, Inc. and at close, Getty Images’s CEO, Craig Peters, will serve as CEO of the combined company.

Getty Images and Shutterstock have announced that they are to merge, forming a new $US3.7 billion ($AU 5.94 billion) company to be named Getty Images Holdings.

Getty Images and Shutterstock agreed to a merger, creating a more formidable competitor for Adobe as generative AI shifts the landscape.

Analyst Youssef Squali of Truist Financial maintained a Buy rating on Shutterstock (SSTK – Research Report), retaining the price target of

Two giants of the stock image industry, Getty Images and Shutterstock, are merging to create a $3.7 billion powerhouse built for the age of artificial intelligence. According to a report by Reuters on Tuesday,