CEO Ted Leonard is exploring licensing Photobucket's vast image database for training generative AI models, potentially reviving the company. Rates of 5 cents to $1 per photo and more than $1 per video are being discussed with various tech companies, showing potential for a lucrative market.
Despite a significant decline in user numbers, Photobucket could cash in on its 13 billion photos and videos by catering to the growing demand for data to train generative AI models. The negotiations with prospective buyers hint at the company's hidden asset value.
Tech giants like Google, Meta, and Microsoft-backed OpenAI have initially used free internet data to train AI models, but they are now moving towards paying for datasets to avoid legal and ethical concerns. This shift indicates a developing market for quality data.
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