FTC announces $35M settlement with Shutterstock

Shutterstock (SSTK) will pay $35M to settle Federal Trade Commission allegations that the company “illegally made tens of millions of dollars from a range of unfair and deceptive practices, including charging consumers for products without their informed consent and making it difficult to cancel subscriptions,” the FTC said in a statement. According to the agency’s complaint, Shutterstock advertised its on-demand packs as “Best for a one-time project,” with “no commitment,: but failed to adequately disclose that these packs automatically renewed when the last download in the pack was used.