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Shutterstock expands with two acquisitions

Shutterstock is expanding their focus on editorial and Music through two acquisitions, UK editorial photo agency Rex Features and music library PremiumBeat.
Jon Oringer, Shutterstock founder and CEO says: “The acquisition of Rex Features marks our substantive entry into editorial imagery — a new market for Shutterstock with significant potential and many opportunities to better serve global media companies,” and… “We are excited to add such a complementary business in PremiumBeat, with a fast-growing customer base and an extraordinary collection,”. “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.”