Shutterstock announces acquisition of Amper Music
Shutterstock press release – 11 November, 2020.
Shutterstock, Inc. (NYSE: SSTK), a leading global technology company offering a creative platform for high-quality content, tools and services, today announced the acquisition of certain assets from Amper Music.
Amper Music is a leading AI-driven music platform which enables users to create and customize original music by leveraging over one million individual audio samples recorded by musicians on thousands of unique instruments.
Shutterstock’s acquisition of Amper strengthens its capabilities in artificial intelligence, particularly in content search and discovery of tracks composed by Shutterstock’s community of artists as well as editing tools for Shutterstock users.
As part of the transaction, Amper’s employees will join the Shutterstock team and will bolster Shutterstock’s focus on enhancing customer experience through new AI-supported functionalities and tools.
“We’re delighted to welcome the Amper team to Shutterstock,” said Stan Pavlovsky, CEO, Shutterstock.
“We’re deeply focused on finding ways to deliver differentiated customer experiences via innovation in our product & services offering. The infusion of Amper’s technology and talent augments our efforts on this front.”
Amper’s Chief Executive Officer Drew Silverstein added, “We’re excited to be acquired by Shutterstock as this partnership will bring Amper’s Creative AI to Shutterstock’s global customer base and represents a great advancement in enabling anyone to express their creativity through music, regardless of their financial resources or technical and artistic expertise.”
The acquisition of Amper further solidifies Shutterstock’s position as a creative platform providing innovative solutions to its customers. Paired with Shutterstock’s global community of music composers, Amper’s AI technology will provide Shutterstock users acceleration to their content creation workflow through a better music discovery experience and enhanced editing capabilities.
In addition, the acquisition will augment Shutterstock’s R&D efforts to bring valuable new innovations that enable faster and simpler content production for prosumers, businesses and professional content creators.
Terms of the transaction were not disclosed.
Shutterstock, Inc. (NYSE: SSTK), directly and through its group subsidiaries, is a leading global provider of high-quality licensed photographs, vectors, illustrations, videos and music to businesses, marketing agencies and media organizations around the world. Working with its growing community of over 1 million contributors, Shutterstock adds hundreds of thousands of images each week, and currently has more than 350 million images and more than 20 million video clips available.
Headquartered in New York City, Shutterstock has offices around the world and customers in more than 150 countries. The company’s brands also include Bigstock, a value-oriented stock media offering; Shutterstock Custom, a custom content creation platform; Offset, a high-end image collection; PremiumBeat, a curated royalty-free music library; and Shutterstock Editorial, a premier source of editorial images and videos for the world’s media.
Amper builds tools powered by Creative AI to help teams create original music. From video to gaming and other interactive technologies, Amper’s web app and API empower content creators, artists, and musicians to effortlessly craft and customize original music for any and all media content. Using a proprietary sample library including thousands of unique instruments and an expansive dataset of musical composition algorithms, Amper’s technology is built with an emphasis on offering high-quality music through the fusion of music theory and AI innovation. For more information, please visit www.ampermusic.com.