The Photolibrary Group has added the Red Cover collection to some 300 still and motion brands already represented in its inventory over 4 million images and 250,000 footage clips. Photolibrary CEO Glenn Parker says this makes the Australian agency the only viable aggregator of niche and generalist stock photography.
Photolibrary already owns and represents a number of specialist brands, including the Garden Picture Library, Oxford Scientific and Fresh Food Images. The Red Cover collection adds over 55,000 interior and décor images. The 8-year-old London-based agency also offers garden, food and lifestyle imagery, as well as full photo features, such as the October profile of an ultra-contemporary home in Delhi, India.
Red Cover owner and managing director Sally Griffiths says the Photolibrary deal paves the way forward for the interiors specialist, which is in considerable financial trouble. In June, the agency told its contributors that it would not be able to pay them for up to two years: Red Cover owed close to £500,000, while its assets were substantially less than half this amount. The agency has since restructured its debt, working closely with its contributors and industry organizations.
Though recent events suggest that appearances, particularly of privately held companies, can be quite deceiving, Photolibrary seems to be doing well. It recently signed distribution agreements with Medicimage and age fotostock, launched a viral ad campaign and won several awards for its print advertising. The company is also making progress in paying outstanding Index Stock contributor royalties.
The Photolibrary Group has two offices in each the U.S., the U.K. and Australia, as well as additional operations in India, Hong Kong, Malaysia, New Zealand, the Philippines, Singapore, Thailand and the United Arab Emirates. Its stock offerings represent the work of over 2,000 photographers and cinematographers from around the world.