The stock photo industry was in recession even before September 11th. Advertising pages in major magazines were off 9.2% in the first nine months of 2001 compared with the same period in 2000. Advertising spending is not expected to improve before the 3rd Quarter of 2002. Stock photo sales are off as much as 20% at some agencies. This story outline some of the ways the industry is likely to change in the next 18 months.
Getty's 3rd quarter 2001 revenue was $107.5 million, down 12.4% from the 3rd quarter of 2000. The company expects revenue of between $95 million and $105 million for the 4th quarter of 2001 making gross sales for the year about $454.1 million. At this level the revenue for the year would be down more than 6%.
Photononstop (formerly Groupe DIAF/SDP), a French company, has partnered with Envision in New York to expand the marketing of their work into North America, and to market worldwide, the work of the photographers represented by Envision. The new American operation will be branded Envision Stock Photography, Inc, and is a Photononstop subsidiary.
One of the big questions for people trying to sell Rights Protected stock in the United States is what is the best way to promote the work -- a portal, or a print catalog. This story explores that question.
Getty Images Inc. has redesigned gettyimages.com, in an effort to increase scalability and efficiency for the company as well as provide significant benefits to online customers worldwide. The company generates nearly half its revenue on the Web, and expects the percentage to increase steadily despite the fact that in recent quarters it has seemed to plateau at just under 50%.
This story includes short items on: Envision Establishes New Catalog Representation Model, Geographic Loses Greenberg Case, Liaison Pushes to Own All Imagery, Editorial Sales of September 11th in France, Andre Lloyd Promoted, Economic Slowdown Hits Design Community and more.
Corbis has been advised by counsel not to answer questions posed by Jim Pickerell, editor of Selling Stock, because Pickerell is scheduled to testify as an industry expert in a case where Michael Grecco is suing Corbis Sygma for lost transparencies. This story explains the situation and the questions Pickerell would like to see answered.
With this story Selling Stock is launching a new occasional series of articles offering photographers and stock agents the opportunity to speak out on important industry issues. The aim is to provide a forum for diverse points of view. The first article is by photographer Wayne Eastep.