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Shutterstock: Contributor royalties approx 28% of revenue in Q2 – Announces new CFO

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Shutterstock reported on their Q2 results today – highlights are:
Second quarter revenue increased 30% as compared to the second quarter of 2014 to $104.4 million;
· ​Revenue per download increased 13% and paid downloads increased 14%;
· Our user base expanded to approximately 1.3 million customers, up 25% versus a year ago, including a 50% increase in our enterprise customer base during that same period;
· Contributor royalties were again stable at approximately 28% of our revenue in Q2; and
· Adjusted EBITDA in the second quarter increased 24% to $20.7 million.

The stock photo agency also announced that Steven Berns (above) will succeed Tim Bixby as the company’s Chief Financial Officer – ‘no later than September 30′. – Steve has been on the board of Shutterstock since 2012… “As a member of the Board I have had the opportunity to see first-hand the highly profitable growth of Shutterstock. I am thrilled to be joining Jon and the entire Shutterstock team as the company launches into its next phase of innovation for its customers,”.
Jon Oringer, founder and CEO of Shutterstock on the appointment.. “Throughout his career, Steven has shown a great ability to build and lead finance teams and to become a strategic partner across a diverse set of companies. Given his familiarity with our company, I know he will be much more than a strong financial steward – he will be a critical part of our continued growth and success,” said Oringer.

• Berns has nearly 30 years’ experience in global financial management, acquisitions, and business operations, including as Chief Financial Officer at the Tribune Media Company, a television and digital media company, and Revlon, a worldwide cosmetic and beauty products company.
• View all Shutterstock news on PAN