The CEO of Getty Images recently issued a warning about the company's prospects in the UK, stating that if the merger between Shutterstock and Getty is blocked by competition regulators, it could have a significant impact on the company's business. The CEO pointed out in an interview that the current competition regulatory framework has not fully recognized the rapid development and transformation of AI technology in the field of image generation.
As AI technology continues to advance, the way images are generated is undergoing a revolutionary change. Getty believes that regulators reviewing merger transactions are focusing too much on traditional market competition conditions, without considering the new competitive landscape brought by AI technology. This makes the competitive environment in the image market more complex, increasing both challenges and opportunities for companies.
The CEO of Getty emphasized that if the Shutterstock deal is blocked, Getty may have to reassess its strategy in the UK market. This could lead to reduced investment and even affect local employment opportunities. He called on regulators to take a more comprehensive view of the impact of technological advancements on the market when formulating policies, so as to develop more reasonable competition policies.
In addition, the CEO noted that the image industry is in a period of rapid change, and the introduction of AI has not only changed the way content is created but also provided users with more choices. This means that regulators need to adapt to this change and re-examine the existing market structure in order to better promote the healthy development of the industry.
Key points:
🌐 The CEO of Getty warned that if the Shutterstock deal is blocked, it will affect its business outlook in the UK.
⚙️ Regulators have not fully recognized the transformation of AI technology in the image generation market.
📉 If the deal fails, Getty may reassess its investments and strategies in the UK.
