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Shutterstock's initial AI licensing deals with Meta, Google and Amazon ranged from $25M to $50M each

Reuters reported that Meta, Google, Amazon and Apple each signed deals with Shutterstock to use hundreds of millions of images, videos and music files for AI training. Initial deals ranged from $25 million to $50 million each, and most were later expanded, according to Shutterstock's CFO.

April 5, 2024 Meta, Google, Amazon and Apple each signed deals with stock media company Shutterstock after ChatGPT's late-2022 debut, to use hundreds of millions of images, videos and music files for AI, Reuters reported.1 The Apple deal is covered separately on this site.

Terms of the deals

Initial deals ranged from $25 million to $50 million each, according to Reuters, and Shutterstock chief financial officer Jarrod Yahes said most were later expanded.1 A per-buyer breakdown was not given in the reporting cited here. Reuters said smaller tech companies had followed, creating a flurry of activity in the prior two months.1

Background

Reuters said the deal sizes had not previously been made public. The report was part of an investigation of the market for AI training data.1

What it means for data sellers

The range gives a reference point for what a large licensed archive can earn from a single big-tech buyer. It also shows that a seller can license the same library to several buyers and grow the contract over time.

This entry is a news summary. SellYourAIData was not involved in the deal.

How the deal came together

  1. Big tech approaches Shutterstock. After ChatGPT's debut in late 2022, Meta, Google, Amazon and Apple each signed deals to use Shutterstock content.
  2. Content covered. The deals covered hundreds of millions of images, videos and music files.
  3. Initial values. Reuters reported the initial deals ranged from $25 million to $50 million each.
  4. Expansion and smaller buyers. CFO Jarrod Yahes said most were later expanded, and smaller tech companies had since followed.

Takeaways for companies with data

  • The same stock library was licensed to several large buyers at once, so these were not exclusive to one company.
  • Initial deals were later expanded, which suggests buyers may start with a trial scope and grow it.
  • Per-buyer terms were not disclosed, so only the range is public.

Sources

Every numbered reference above points to an entry here. Figures come from these pages as of the date shown at the top of the article. Where a source reports a number it got from unnamed people, the text says so.

  1. Inside Big Tech's underground race to buy AI training data (Reuters via KFGO, April 2024)

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About the AI Data Deal Tracker

SellYourAIData tracks publicly reported sales and licenses of data to AI companies, with the price, terms and sources for each. Entries are checked against public reporting and updated as deals change. SellYourAIData was not involved in this deal. To ask what your company's data could sell for, get a free valuation. To report a deal, contact us.