May 27, 2024
Apple Signed Deal With Shutterstock for AI Training Data [Report]

Apple Signed Deal With Shutterstock for AI Training Data [Report]

Posted April 6, 2024 at 6:41pm by iClarified
Apple, Amazon, Google, and Meta have all signed deals with stock image provider Shutterstock to use its images, video, and music for AI training, according to a new report from Reuters.

A source tells the site that the deals were signed shortly after ChatGPT debuted...

In the months after ChatGPT debuted in late 2022, for instance, companies including Meta, Google, Amazon and Apple all struck agreements with stock image provider Shutterstock to use hundreds of millions of images, videos and music files in its library for training, according to a person familiar with the arrangements.

It's estimated that the initial agreements were worth around $25 to $50 million each; however, most have since been expanded.

The deals with Big Tech firms initially ranged from $25 million to $50 million each, though most were later expanded, Shutterstock's Chief Financial Officer Jarrod Yahes told Reuters. Smaller tech players have followed suit, spurring a fresh "flurry of activity" in the past two months, he added.
Yahes declined to comment on individual contracts. The Apple agreement, and the size of the other deals, haven't previously been made public.

Apple has trailed behind its rivals in unveiling AI related services; however, the company is set to show off its initial efforts at WWDC 2024.

Apple SVP of Marketing Greg Joswiak teased the AI focus with a tweet on X. Note the capital A and capital I...

Mark your calendars for #WWDC24, June 10-14. It's going to be Absolutely Incredible!

Apple has started notifying developers that have won the lottery to attend its WWDC 2024 in-person event. If you didn't get a ticket, all the sessions will be available online and we will be offering full coverage of the event on iClarified.

Get ready for the event by downloading the WWDC 2024 wallpaper for iPhone, iPad, and Mac, and please download the iClarified app or follow iClarified on Twitter, Facebook, YouTube, and RSS for more updates!

Apple Signed Deal With Shutterstock for AI Training Data [Report]
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