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Author Topic: Shutterstock Reports First Quarter 2014 Financial Results  (Read 13444 times)

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« on: May 08, 2014, 16:01 »
+3
- First quarter revenue increased 42% from prior year, to $72.8 million
- Adjusted EBITDA increased 20% to $14.2 million
- Quarterly paid downloads increased 33% to a record 29.7 million
- Collection grew 41%; exceeds 35 million images and 1.7 million video clips
- Acquisition of WebDAM, a leading provider of digital asset management tools, closed during first quarter

http://investor.shutterstock.com/phoenix.zhtml?c=251362&p=irol-newsArticle&ID=1929092&highlight=


Tror

« Reply #1 on: May 08, 2014, 17:32 »
+12
- First quarter revenue increased 42% from prior year, to $72.8 million

A revenue per download of 2.45 is what I can dream of only...contributors do not deserve more?
« Last Edit: May 08, 2014, 17:41 by Tror »

« Reply #2 on: May 08, 2014, 18:19 »
+2
.
« Last Edit: May 11, 2014, 21:25 by tickstock »

« Reply #3 on: May 08, 2014, 18:44 »
+4
You can also listen to the earnings report conference call.  No big news from what I heard but they did say a few times that contributors were paid 28%. The 28% is interesting because in the last earnings call Jon Oringer said 30%.

http://investor.shutterstock.com/phoenix.zhtml?p=irol-eventDetails&c=251362&eventID=5131758

http://seekingalpha.com/article/2037843-shutterstocks-ceo-discusses-q4-2013-results-earnings-call-transcript?page=6&p=qanda&l=last


I got to the 28% result just after a quick counting after the first post as my earning per download on SS usually averages at around $0.7.
Surely SS could afford a higher tier above the $0.38 one.

Ron

« Reply #4 on: May 09, 2014, 02:35 »
+1

- Quarterly paid downloads increased 33% to a record 29.7 million
- Collection grew 41%; exceeds 35 million images and 1.7 million video clips

Doesnt that mean the pie is getting smaller for us?

« Reply #5 on: May 09, 2014, 02:59 »
+2
The pie is bigger but cut into smaller slices

Ron

« Reply #6 on: May 09, 2014, 04:34 »
0
The pie is bigger but cut into smaller slices
Cheers. It was kind of what I meant. Could be the reason people see a decline in sales and why its harder to get any traction these days.

« Reply #7 on: May 09, 2014, 04:41 »
0
- First quarter revenue increased 42% from prior year, to $72.8 million

A revenue per download of 2.45 is what I can dream of only...contributors do not deserve more?

for sure and that goes to all agencies as well!

First Quarter 2013 (my RPD 0.601)
First Quarter 2014 (my RPD 0.705) (+21% in terms of totals)

« Reply #8 on: May 09, 2014, 10:25 »
+1
Everything's coming up Milhouse!

« Reply #9 on: May 09, 2014, 11:59 »
+4
The numbers are amazing. A YOY growth of over 40% for the same quarter? For a company that is 10 years old and working in an established competitive market?

What makes them so different? All sites sell images, many are cheaper.

And is the growth from new customers or are they just taking market share from the others? Probably a mix of both.

Congratulations, well done! And with all the news we get there doesn't seem to be any serious competition coming their way.

istock/getty are always too busy with cool projects to really focus and Fotolia will not get much attention while the owners play with dpc.

And I guess running your company largely drama free and having managers that know how to communicate online and have roots in the stock business community is indeed a successful strategy for growth.





EmberMike

« Reply #10 on: May 09, 2014, 12:13 »
0
...And with all the news we get there doesn't seem to be any serious competition coming their way.

istock/getty are always too busy with cool projects to really focus and Fotolia will not get much attention while the owners play with dpc...

I think DPC is the serious competition. Nothing else on the market right now is positioned to really take a shot at SS. DPC can compete, though. At least with low-to-mid-volume buyers and those buying SOD and OD packages. The people who still need several hundred images per month will always be better off at SS. But those who need 200 or fewer could be swayed. The challenge for them will be marketing. Getting their offer in front of SS customers will take some serious spending.

« Reply #11 on: May 09, 2014, 19:20 »
0

- Quarterly paid downloads increased 33% to a record 29.7 million
- Collection grew 41%; exceeds 35 million images and 1.7 million video clips

Doesnt that mean the pie is getting smaller for us?
Yes, but not much smaller. Many people posting about this on MSG have fretted over a huge flood of new contributors and submissions. An increase in supply that is several or even many times larger than the growth in demand. Apparently that is not what is happening at SS. I guess we will have to think up new excuses if our revenues drastically decline?

« Reply #12 on: May 10, 2014, 02:39 »
+3

- Quarterly paid downloads increased 33% to a record 29.7 million
- Collection grew 41%; exceeds 35 million images and 1.7 million video clips

Doesnt that mean the pie is getting smaller for us?
Yes, but not much smaller. Many people posting about this on MSG have fretted over a huge flood of new contributors and submissions. An increase in supply that is several or even many times larger than the growth in demand. Apparently that is not what is happening at SS. I guess we will have to think up new excuses if our revenues drastically decline?
Au contraire, Michael. The difference between 41% and 33% is eight percentage points, not 8%, it's actually a 20% drop in earnings per file.  In order for Mr Average to maintain his earnings he would have to increase his portfolio size by 20% in a year.
I increased my portfolio by about 12% last year and my earnings in the first quarter were down 8.5%, so my entire decline is explained, quite precisely, by the decline in earnings per file.
The message I take home from the data is that I need to grow my portfolio by almost 100 files a month just to stand still.
On the positive side, the collection is now so big that if SS can keep growing its customer spend at that rate then in a year or two the situation might reverse, with earnings starting to outstrip the increase in the collection. If that happened, then earnings for individual portfolios would start to rise even without new material being added, which would be very nice indeed.

« Reply #13 on: May 10, 2014, 02:59 »
0
I increased my portfolio by about 12% last year and my earnings in the first quarter were down 8.5%, so my entire decline is explained, quite precisely, by the decline in earnings per file.
The message I take home from the data is that I need to grow my portfolio by almost 100 files a month just to stand still.

I am not seeing that but your portfolio is way more mature then mine (double the time, from 5 to 10 years)

what I am saying is that new files aren't playing a big part in income, I had a 21% increase in earnings comparing the Q1 2013/2014 but looking at SS stats from the content uploaded in the last year it only represented 5% comparing to the overall earnings for that year, yes that can have tons of reasons/explanations

« Reply #14 on: May 10, 2014, 03:10 »
0
I increased my portfolio by about 12% last year and my earnings in the first quarter were down 8.5%, so my entire decline is explained, quite precisely, by the decline in earnings per file.
The message I take home from the data is that I need to grow my portfolio by almost 100 files a month just to stand still.

I am not seeing that but your portfolio is way more mature then mine (double the time, from 5 to 10 years)


Yes, mine is spread pretty evenly over the entire time SS has existed so I would expect it to perform in a pretty average way, with any advantages or disadvantages from file age cancelling out.


 

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