We will consider additional acquisition opportunities. "Any funding isn't meant for the day-to-day activity of the company but for purchases like this. "The company has had a positive flow since its first day," said Belsky. The acquisition comes on the back of a $48 million funding round led by U.S.-based KKR and participated by previous investor Elephant Partners, which was completed at the beginning of the year after the company had previously been bootstrapped and operated without external funding. Motion Array's 30 employees will be assimilated into Artlist's different departments, but the company will continue to operate under its own brand. We believe that when someone is searching for content they need to reach it as quickly as possible and the better we curate it the more we increase the value to the user."Īrtlist currently employs 120 people and Belsky said the company intends to double that number in the coming year. We prefer quality over quantity, with the common attitude in the market being the more the better. But our approach towards subscription, licensing and pricing is revolutionary. Getty and the others are first and foremost a database of photos for graphic designers and the video element is somewhat of an afterthought. "Firstly, our focus on video creators is exceptional. There are numerous stock video services, with giants like Getty also currently offering such a catalog. We develop, for example, quite a few AI and Big Data tools for cataloging products and we are currently setting up an AI department." "We fall under creative tech in which the technology provides a search and find service. Where does the company's technological aspect come into play? "During Covid-19 we were in many cases the sole source of income for some of the artists." "We pay some of the highest royalties in the business and an average artist can earn over $10,000 a year through us, with the bigger earners reaching tens of thousands of dollars a year," said Belsky. The company offers two types of content on its platform: content created by its own crews around the world and content for which it pays external creators royalties. It offers a monthly subscription to a wide range of clients which includes YouTubers and influencers, media organizations and ad agencies, freelance creators as well as brands like Nike, Wix, Coca Cola, Ikea, Google, Mercedes, Adobe, Netflix, Salin and Dior. However, Artlist is among a new generation of companies that is solely focused on video creation. With the rise in use of video on social media and in media organizations over recent years, companies like Getty and Shutterstock have added videos for creators to their existing catalog of photos.
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