Getty Images Explores Merger With Shutterstock

According to Bloomberg (paywalled), Getty Images is exploring a merger with its rival Shutterstock. Following the news, Getty's shares were up 20.3% in afternoon trading, while shares of Shutterstock were up 7.7%. Reuters reports: The development comes at a time when Getty Images has struggled to retain customers and replace the lost customers. Its creative and editorial products, two of its largest revenue segments, declined year-over-year in 2023, according to its annual report. The decline in