One of the largest rivals of Shutterstock Inc (NYSE:SSTK) is Getty Images. Getty Images announced recently that its image library for free non-commercial usage. Getty Images will be serving ads over the top of the images. This is why Shutterstock CEO Jon Oringer is not concerned about the competition.
He said that the free photos are not a threat to the photo market because 99.99% of Shutterstock’s business is through commercial usage and the company will continue to focus on the commercial business market.
Oringer said that he believes that if Getty Images offered images at no cost to commercial businesses, he does not believe they would not take them. The odds of letting Getty serve ads that compete with their own are slim.