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General and administrative – This operational expense increased by 12%, primarily driven by higher employee-related costs, higher non-cash compensation expenses, and higher professional fees (which were impacted by transaction costs from the acquisition of TurboSquid and Picmonkey).This was due to higher costs in personnel and non-cash compensations Product development – These expenses went up by 13% in 2021.Sales and marketing – They spend 29% more on sales and marketing last year, with most of this going to performance marketing, brand marketing, and TV ads, but also to higher employee commissions from enterprise sales.Cost of revenue – It increased by 7% compared to 2020, mainly due to higher royalty expenses –payments to contributors–, higher procurement costs and credit card fees due to increased revenue, and a rise in depreciation and amortization expense due to the year's acquisitions.The breakdown of said costs is as follows: The total operating costs for 2021 were $665.3 million. Enterprise – Enterprise revenue also grew by 11% in this period, according to the agency growth was fueled by the constant updates and upgrades of their platform and offers for this segment.įor a detailed look into each one of these points, read the next section, “Customers, Active Users, and Subscribers in Detail”.E-Commerce – Direct sales through their main website increased by 19%, mostly driven by the growth in subscribers and the acquisition of two subsidiary companies (TurboSquid and Picmonkey).This is an important piece of information, in particular for contributors and investors: nothing says “healthy business” quite as much as consistent growth in the number of subscribers, and Shutterstock agrees, as they consider this metric to be one of the best indicators of the state of their affairs, of current and potential growth. Subscribers – Their most significant revenue stream, subscribers revenue went up 20% from the same segment in 2020 and represents 41.05% of their total revenue.In 2021, Shutterstock increased its revenue by 16% compared to the $666.7 million it bagged in 2020. But let's have a closer look at the numbers. This quick overview shows us that Shutterstock made an enviable sum of money in 2021. Let’s look at how much money Shutterstock made in 2021 and how those incomes break down. Shutterstock's Market Share & Top Competitors.Shutterstock – Customers, Active Users, and Subscribers in Detail.Shutterstock Statistics: Revenue & Costs.
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If you wish to learn more about their offer, check our full Shutterstock review. This is a brief resume of Shutterstock in numbers. Let's begin! Firstly, here are the critical stats for knowing what Shutterstock is, where they are based, and what they do: Concept However, we do not offer any guarantees about the specific Shutterstock stats (and the graphs and charts we made) shared or their accuracy. So today, we bring you a complete report with all the relevant Shutterstock statistics you need to know.Īll the information in this post is as updated as possible and comes from Shutterstock themselves, trusted sources (which are quoted and linked), and our insider knowledge –we work closely with the agency, and we have since over a decade–. There is no better way of understanding a company's actual size and relevance than through its stats.
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