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Shutterstock CEO on Filling the Void of Stock Footage

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    Shutterstock CEO Jon Oringer on the company’s business model and growth.

  • Duration 4:50
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All right image of -- yes -- flocking to shut a stock it's a major hub for designers photographers and companies to find stop crop photos and videos.

And let's stop -- -- looks like a pretty picture to do as well today does now reporting stellar fourth quarter results he would tell us all about it John aren't just.

China stock founder and CEO joining me now -- -- Fox Business exclusive John thank you for being here.

As I -- 2003 were deciding that's when you started this business time.

What.

Made you say there's a shortage of people have stopped footage and stock images.

You'll nine years again 2003 had started a bunch of other software companies before that in each time -- and the same problem these photos were really hard to get.

And not U summit included them in my -- -- sold more product.

So I realize that this -- need this stuff and it's actually hard to get -- so how how does it work.

Photographers take pictures they upload it to you'll site -- we have 40000 photographers from all over the world of -- hundred countries.

They upload their images every day -- put about 20000 of them in total.

We except about half of them they go on the website and so someone literally goes for -- those -- -- process everyone else.

Good grief now how does -- the payment side what on that they get paid for each image that you decide to.

To capable every -- -- a gets downloaded.

Inside is paid out to the contributor -- -- you have to upload images -- after upload images that our customers actually want.

How's this business grown since she launched nine years ago.

On -- -- quite a bit.

We.

We started -- she -- three with 30000 of my own images and today we have 24 million -- While you also have you grew yield via a million video inventory by.

A 100000.

This quarter.

-- had an area we'd like to see more expansion.

Yeah I had pretty amazing so.

We got into video footage back in 2007.

But what's happening now is is exactly what happened back in 2003 with the with.

To July sellers now you can buy an additional SRR for -- thousand dollars.

The takes amazing HD quality video.

And are.

Contributors are getting better and better -- this content -- its content uploading content to us what kind of content we took him out anything and everything it's it's the -- some of our our most popular content on the video side are time lapse.

Sunrise to sun sets over cities.

-- So cut a client comes along says this is what I need for my project.

And that's neckline is missing a little bit of footage for.

A small part of there they're documentary or older they're TV commercial and become and then by that statute and what he sees the next big growth driver for shuttle stop quickly go from -- yeah well aside from footage that's one of them -- On the international expansion we still -- -- 150 countries swearing fourteen languages except nine currencies.

So -- were all over the world we have been for many years.

On besides that enterprise customers the biggest ad agencies and media companies in the world are trying to buy from us and I'm -- in seven -- percent of fortune 500 companies right now with just one or two users.

Each one of those companies has tens or hundreds of users that these are -- and it seems to me is one of those businesses of release -- doesn't it because it's word of mouth and then you stop to get the name out more and more people say oh well maybe that's a resource happened.

You know fought off its premium things over the past nine years on we've seen that have -- it's actually network affect business area.

As -- as contributes coming in and upload content buyers -- insert taking that contact.

Contributors watch very closely and -- -- start selling they -- more.

Very good Getty images -- -- a well known player in the stock image.

Space.

-- -- doing to -- -- yes they've been around a long time we know Getty images but -- What about us yet this is nothing new US I mean there are lots of competitors out there yet on the over the past ten years they've coming Don -- is certainly.

Big one but.

We are the volume leader in the states he served two images for second and there's no other agency out -- that does that were able to take all the data we get from.

The images were selling and actually improve search.

Every second so it's it's a different dynamic -- that business.

You study going new study this business in 2003.

When did you go public.

-- on public in October of this past year.

OK and how's how's that Spain was evident that a decision that you look at and say thank goodness we get them yet a ticket to many many years to get there and it took a lot of planning and thinking.

On and we did it right we took our time and Internet its success very -- well thank you so much for being that it John orange.

-- found -- of course the founder of shot -- stock and the CEO of continued success thank you being here we'll -- wanna get.

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