AI deals to make up a third of Shutterstock’s current revenue by 2027

AI is supposed to destroy a number of creative industries, but until then it’s propping them up. Shutterstock brought in $104 million last year licensing its media library to train AI models. The CEO expects that number to be $250 million by 2027 — or about a third of the company’s total revenue last year. Of course, by then the company expects its overall revenue to reach $1.2 billion, so AI deals would make up just a fifth of revenue, or about double what they do now.

Shutterstock’s AI-Licensing Business Generated $104 Million Last Year

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Shares of eBay fell as much as 10.5% in premarket trading on Thursday morning after the company gave a lower-than-expected profit forecast for the important holiday shopping season.

The e-commerce giant reported solid numbers for the third quarter on Wednesday, with revenue up 9% as reported to $2.8 billion and gross merchandise volume rising 10% to $20.1 billion, topping the average analyst forecast of $19.4 billion, per Bloomberg.

However, concerns about the future somewhat overshadowed these results.

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