Getty has reported 1st quarter revenue of $113.9 million, up 11.8 percent from the previous quarter. They have also supplied new information about the percent of revenue of various segments of their business, the gross margin of each segment, average price per usage, average revenue per sales employee and a geographic breakdown of sales that should be very useful to others in the industry.
This article contains information on the Settlement of the Zefa Belgium Bankruptcy, BBC Natural History Library Name Change, Art Resources Representing Museum of Modern Art Images, Japan agency AFLO enters U.S. Market, and ImageState's New RF Collection.
The saga of the National Geographic CD-ROM's continues. The 11th Circuit Court of Appeals found that Geographic made infringing use of images in 1997, but still no settlement for damages. Fred Ward had 850 images and texts for 12 articles used over three decades. Now he has filed a Request for Summary Judgement. His case, as outlined in court documents, reveals many interesting details about Geographic.
ImageState has gone through a major restructuring of its business. Sheldon Marshall says they had ''geared up the business anticipating a much bigger business than it is (and found) it necessary to downsize to meet the level of existing business that we have.''
Agents, do you need to expand your supply of images? Don't drive photographers away with terms they can't afford to accept. Read this story and consider how important ''exclusive rights'' really are and whether you need to have exclusive rights to all the images you represent.
Getty Images has announced significantly higher than expected 1st Quarter revenues of $113.5 million. This was up from $102 million for the 4th Quarter and exceeded Getty's 1st Quarter estimate of between $103 and $106 million.