Getty Images partners with OpenAI to enhance ChatGPT's visual content
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 25 2022
0mins
Source: globenewswire
Getty Images Holdings Inc. has seen a significant price increase of 240.44% in pre-market trading, reaching a 20-day high.
The surge is attributed to Getty Images signing a partnership agreement with OpenAI, allowing its licensed content to be featured in ChatGPT's search and discovery experiences. This collaboration aims to enhance the quality of visual responses, reflecting a shared commitment to improving user experience. The partnership not only increases the utility of Getty's content but also strengthens its position in the AI sector.
This strategic move is expected to attract more users to ChatGPT, thereby potentially increasing Getty Images' revenue streams and market presence in the evolving digital landscape.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy GETY?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on GETY
Wall Street analysts forecast GETY stock price to rise
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 0.916
Low
7.00
Averages
7.00
High
7.00
Current: 0.916
Low
7.00
Averages
7.00
High
7.00
About GETY
Getty Images Holdings, Inc. is a global visual content creator and marketplace company. The Company offers a full range of content solutions to meet the needs of any customer around the globe. Through its Getty Images, iStock and Unsplash brands, websites and application programming interfaces (APIs), the Company serves customers and discovers, purchases and shares visual content from photographers and videographers. The Company covers approximately 160,000 news, sport and entertainment events, providing depth and breadth of coverage. The Company also maintains photographic archives in the world with millions of images dating back to the beginning of photography. It works with approximately 600,000 contributors and more than 360 content partners. Its Getty Images, iStock, and Unsplash brands categorize its content and services into three categories: Creative, Editorial, and Other. Its Gettyimages.com offers premium creative content and editorial coverage, including video.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Shutterstock Shares Plummet to All-Time Low Following Merger Collapse
- Stock Price Crash: Shutterstock's shares plummeted by 29% on Wednesday to an all-time low of $9.94, resulting in a market cap of $512 million, reflecting a pessimistic outlook from investors regarding its future prospects.
- Merger Collapse: The merger with Getty Images was canceled after the UK Competition and Markets Authority mandated the divestiture of Shutterstock's editorial services, increasing competitive pressures on both companies in the market.
- Investor Losses: The cancellation of the merger resulted in a combined loss of approximately $200 million in market value for both companies, with Getty's stock also falling by 10.5%, indicating investor concerns about their future profitability.
- Increased AI Threat: Following the merger failure, both Shutterstock and Getty face intensified threats from generative AI, and while both companies are actively developing AI tools, the outlook for independent operations remains uncertain.
See More
Shutterstock Shares Plunge 29% After Failed Merger with Getty Images
- Merger Failure Impact: Shutterstock's stock plummeted 29% to an all-time low on Wednesday after UK regulators mandated the spin-off of its editorial business, leading to the cancellation of its merger with Getty Images, indicating market pessimism about its future prospects.
- Regulatory Hurdles: The UK Competition and Markets Authority deemed the merger would significantly lessen competition in the UK journalism sector, requiring the divestiture of editorial services, which became the deal-breaker for Getty's board, highlighting the stringent regulatory environment affecting industry consolidation.
- Significant Financial Consequences: Getty Images will pay down $628 million in debt as a result of the failed merger, causing its stock to drop by 10.5%, with both companies collectively losing about $200 million in investor value on the day, reflecting concerns over their future profitability.
- Increased AI Threat: Following the merger's collapse, Shutterstock and Getty Images will face the competitive pressure of generative AI independently, and while both are actively developing AI tools and licensing agreements, their microcap status and ongoing losses leave investors uneasy about their outlook.
See More
Meta's Cloud Business Expansion Drives Stock Surge
- Meta Cloud Business Expansion: Meta Platforms shares surged 11% on news of its plan to sell excess AI computing power to external customers, marking a significant expansion into the cloud business that is expected to enhance revenue streams and strengthen market competitiveness.
- General Mills Earnings Beat: General Mills reported fourth-quarter adjusted earnings of 95 cents per share on revenue of $4.61 billion, surpassing market expectations, and announced plans to achieve $3 billion in cumulative cost savings by fiscal year 2030, demonstrating strong profitability and cost control capabilities.
- Progress Software Strong Performance: Progress Software shares rallied over 18% after reporting second-quarter adjusted earnings of $1.62 per share on revenue of $253.5 million, both exceeding analyst expectations, with optimistic guidance for Q3 reflecting the company's sustained growth potential.
- Nike's Earnings Recovery: Nike's stock rose more than 4% as its fiscal fourth-quarter results exceeded analyst expectations despite a 12% year-over-year decline in China sales, showcasing the brand's resilience in the global market and potential for future growth.
See More
Getty Images Abandons Merger with Shutterstock Over Regulatory Issues
- Merger Termination: Getty Images has decided to walk away from its merger with Shutterstock due to a U.K. regulatory hurdle that mandated the forced sale of Shutterstock's editorial arm, resulting in a 34% drop in Shutterstock's stock during the session.
- CEO Statement: Shutterstock's CEO Paul Hennessy emphasized the company's strong position as a standalone entity, focusing on executing its strategy and capitalizing on significant future opportunities, reflecting confidence in the company's outlook.
- Board Resolution: The Shutterstock board resolved to officially terminate the merger agreement after July 6, assuming no material changes occur prior to July 7, indicating decisive action in the face of regulatory challenges.
- Regulatory Context: The U.K. Competition and Markets Authority stated in May that Getty's proposed $3.7 billion merger with Shutterstock could proceed if the latter divests its editorial business, complicating the merger and making it unfeasible.
See More
Nike Reports 12% Sales Decline in Greater China Amid Earnings Beat
- Nike Sales Decline: Nike reported a 12% sales decline in the Greater China market, which, despite an earnings and revenue beat in its fiscal fourth-quarter report, raises concerns about future performance in this critical region.
- Constellation Brands Earnings Beat: Constellation Brands reported first-quarter earnings of $3.43 per share, exceeding analysts' expectations of $3.20, with revenue also surpassing forecasts, indicating resilience in a competitive market.
- Shutterstock and Getty Merger Failure: Getty's cancellation of its proposed merger with Shutterstock due to U.K. regulatory demands led to a sharp decline in Shutterstock's stock by over 30%, while Getty fell 4%, highlighting the impact of regulatory environments on M&A activities.
- Kroger Acquires Giant Eagle: Kroger announced its acquisition of food and pharmacy retailer Giant Eagle for $1.65 billion, resulting in a 2% drop in its stock price; however, the CEO emphasized that this move will expand the company's reach into attractive adjacent markets.
See More
INLIF Approves Reverse Split, HODO to Start Trading
- INLIF Reverse Split: INLIF's board approved a 1-for-200 reverse stock split effective July 6 to preserve its listing, resulting in a dramatic 39% drop in after-hours trading, indicating significant market uncertainty about its future.
- HODO Trading Launch: House of Doge completed its merger with Brag House, set to trade as HODO on Nasdaq starting July 1, with approximately 75.9 million shares outstanding, aiming to leverage public capital for digital payments and cryptocurrency initiatives.
- Shutterstock Merger Collapse: Shutterstock's planned $3.7 billion merger with Getty Images was scrapped due to antitrust concerns, leading to a 27% decline in its stock price, as investors shift focus to its prospects as an independent entity.
- Small-Cap Stocks Struggle: INLIF, Brag House, and Shutterstock all experienced double-digit losses in after-hours trading, reflecting investor concerns over their restructuring strategies as INLF and SSTK have plummeted 99% and 26% year-to-date, respectively.
See More
Shutterstock Shares Plummet to All-Time Low Following Merger Collapse
- Stock Price Crash: Shutterstock's shares plummeted by 29% on Wednesday to an all-time low of $9.94, resulting in a market cap of $512 million, reflecting a pessimistic outlook from investors regarding its future prospects.
- Merger Collapse: The merger with Getty Images was canceled after the UK Competition and Markets Authority mandated the divestiture of Shutterstock's editorial services, increasing competitive pressures on both companies in the market.
- Investor Losses: The cancellation of the merger resulted in a combined loss of approximately $200 million in market value for both companies, with Getty's stock also falling by 10.5%, indicating investor concerns about their future profitability.
- Increased AI Threat: Following the merger failure, both Shutterstock and Getty face intensified threats from generative AI, and while both companies are actively developing AI tools, the outlook for independent operations remains uncertain.
See More
Shutterstock Shares Plunge 29% After Failed Merger with Getty Images
- Merger Failure Impact: Shutterstock's stock plummeted 29% to an all-time low on Wednesday after UK regulators mandated the spin-off of its editorial business, leading to the cancellation of its merger with Getty Images, indicating market pessimism about its future prospects.
- Regulatory Hurdles: The UK Competition and Markets Authority deemed the merger would significantly lessen competition in the UK journalism sector, requiring the divestiture of editorial services, which became the deal-breaker for Getty's board, highlighting the stringent regulatory environment affecting industry consolidation.
- Significant Financial Consequences: Getty Images will pay down $628 million in debt as a result of the failed merger, causing its stock to drop by 10.5%, with both companies collectively losing about $200 million in investor value on the day, reflecting concerns over their future profitability.
- Increased AI Threat: Following the merger's collapse, Shutterstock and Getty Images will face the competitive pressure of generative AI independently, and while both are actively developing AI tools and licensing agreements, their microcap status and ongoing losses leave investors uneasy about their outlook.
See More
Meta's Cloud Business Expansion Drives Stock Surge
- Meta Cloud Business Expansion: Meta Platforms shares surged 11% on news of its plan to sell excess AI computing power to external customers, marking a significant expansion into the cloud business that is expected to enhance revenue streams and strengthen market competitiveness.
- General Mills Earnings Beat: General Mills reported fourth-quarter adjusted earnings of 95 cents per share on revenue of $4.61 billion, surpassing market expectations, and announced plans to achieve $3 billion in cumulative cost savings by fiscal year 2030, demonstrating strong profitability and cost control capabilities.
- Progress Software Strong Performance: Progress Software shares rallied over 18% after reporting second-quarter adjusted earnings of $1.62 per share on revenue of $253.5 million, both exceeding analyst expectations, with optimistic guidance for Q3 reflecting the company's sustained growth potential.
- Nike's Earnings Recovery: Nike's stock rose more than 4% as its fiscal fourth-quarter results exceeded analyst expectations despite a 12% year-over-year decline in China sales, showcasing the brand's resilience in the global market and potential for future growth.
See More
Getty Images Abandons Merger with Shutterstock Over Regulatory Issues
- Merger Termination: Getty Images has decided to walk away from its merger with Shutterstock due to a U.K. regulatory hurdle that mandated the forced sale of Shutterstock's editorial arm, resulting in a 34% drop in Shutterstock's stock during the session.
- CEO Statement: Shutterstock's CEO Paul Hennessy emphasized the company's strong position as a standalone entity, focusing on executing its strategy and capitalizing on significant future opportunities, reflecting confidence in the company's outlook.
- Board Resolution: The Shutterstock board resolved to officially terminate the merger agreement after July 6, assuming no material changes occur prior to July 7, indicating decisive action in the face of regulatory challenges.
- Regulatory Context: The U.K. Competition and Markets Authority stated in May that Getty's proposed $3.7 billion merger with Shutterstock could proceed if the latter divests its editorial business, complicating the merger and making it unfeasible.
See More
Nike Reports 12% Sales Decline in Greater China Amid Earnings Beat
- Nike Sales Decline: Nike reported a 12% sales decline in the Greater China market, which, despite an earnings and revenue beat in its fiscal fourth-quarter report, raises concerns about future performance in this critical region.
- Constellation Brands Earnings Beat: Constellation Brands reported first-quarter earnings of $3.43 per share, exceeding analysts' expectations of $3.20, with revenue also surpassing forecasts, indicating resilience in a competitive market.
- Shutterstock and Getty Merger Failure: Getty's cancellation of its proposed merger with Shutterstock due to U.K. regulatory demands led to a sharp decline in Shutterstock's stock by over 30%, while Getty fell 4%, highlighting the impact of regulatory environments on M&A activities.
- Kroger Acquires Giant Eagle: Kroger announced its acquisition of food and pharmacy retailer Giant Eagle for $1.65 billion, resulting in a 2% drop in its stock price; however, the CEO emphasized that this move will expand the company's reach into attractive adjacent markets.
See More
INLIF Approves Reverse Split, HODO to Start Trading
- INLIF Reverse Split: INLIF's board approved a 1-for-200 reverse stock split effective July 6 to preserve its listing, resulting in a dramatic 39% drop in after-hours trading, indicating significant market uncertainty about its future.
- HODO Trading Launch: House of Doge completed its merger with Brag House, set to trade as HODO on Nasdaq starting July 1, with approximately 75.9 million shares outstanding, aiming to leverage public capital for digital payments and cryptocurrency initiatives.
- Shutterstock Merger Collapse: Shutterstock's planned $3.7 billion merger with Getty Images was scrapped due to antitrust concerns, leading to a 27% decline in its stock price, as investors shift focus to its prospects as an independent entity.
- Small-Cap Stocks Struggle: INLIF, Brag House, and Shutterstock all experienced double-digit losses in after-hours trading, reflecting investor concerns over their restructuring strategies as INLF and SSTK have plummeted 99% and 26% year-to-date, respectively.
See More
