ShutterStock Launches A Market Place For Music.
Shutterstock first began as a stock-art business with Photography, but as of recently, the company has decided to move beyond their loft realm and expand into licensing music as well.
The Shutterstock Music expansion has become the first new content to be done in past eight years for the company, which also licenses illustrations and video footage. The company originally pushing for a set of 60,000 tracks of high-quality music gained from Rumblefish, but its developing its own library of songs as well, stated the vice president of product for the New York-based company, Wyatt Jenkins.During a much later time, the service will expand towards other audio works, such as recording screeching, cars crashing, glass shattering, and planes taking off.
“The most important reason to do this expansion is the growth of footage,” Jenkins said. “Our video business is growing extremely fast. Over half of all the videos downloaded from our site require music.”
The stock-art business has been widely used source of image by people who are creating brochures, advertisements, and presentation that need something beyond texts. During the era of the Internet, it’s allowed a huge population of creative individuals to sell photo’s, videos, and illustrations without having to become full-time professionals. At the same time that democratized and globalized the industry, it also pulled the rug under professionals who had a much more easier time making a living for themselves.
Although, the early leaders within the new stock-art business, which include Dreamtime, Fotolia, iStockphoto and Shutterstock, also face competitive challenges as the market saturates and consolidates. Budget sites that offer a price competition, while second-generation sites bring specialization, Stocksy United with high-end imagery and high payouts to photographers, for instance, or ImageBrief, where purchasers specify what they want and Photographers will move out to supply it as soon as possible.
So it leads to no little surprise that Shutterstock, which is publicly traded, to expand towards music and audio. Each track shall cost up to $45 to license for unlimited use, at least during the process of creating a video.
“We sell the right to sync audio with video or a theatrical production or a TV show,” Jenkins said. “Once you’re broadcasting, there are performance rights [holders]that are going to want a piece of that.”
Importance to the service is finding a way to bring audio tracks in front of customers who may not be able to emphasize what they are exactly looking for.
“We’re investing heavily in rich metadata like moods and descriptions,” with music analyzed both by humans and computer algorithms,” Jenkins said. The company also supplies various curated playlists — classical, wedding, cartoon, salsa, corporate, and electronic, for example.
“The most important thing to do is get people listening to the track as soon as possible,” Jenkins said.