VCG Acquires 500px

By Jim Pickerell | 522 Words | Posted 2/26/2018 | Comments
Visual China Group (VCG) announced on Monday, February 26th that it has acquired 100% of 500PX, INC. (500px) shares through its wholly-owned subsidiary, VCG Hong Kong LTD. 500px is one of the leading online visual creative communities in the world, founded in 2009 and based in Toronto, Canada. With more than 13 million professional and hobbyist photographers from over 195 countries and regions, the 500px community has produced over 120 million unique images diversity and creative trend. 500px is renowned globally for its community, image licensing, and custom photography.

Shutterstock Invests In ZCool, Sells Webdam

By Jim Pickerell | 357 Words | Posted 2/22/2018 | Comments
Shutterstock, Inc. has announced that on January 4, 2018, the Company invested $15.0 million in convertible preferred shares issued by Zcool Network Technology Limited ("Zcoolto”). Zcool's primary business is the operation of an e-commerce platform in China whereby customers can pay to license content contributed by creative professionals. The platform has nearly six million registered users. Zcool has been the exclusive distributor of Shutterstock creative content in China since 2014.

Anthony Harris Leaves Image Source: Christina Vaughan Returns As CEO

By Jim Pickerell | 268 Words | Posted 2/8/2018 | Comments
As of January 31st Anthony Harris has stepped down as CEO of Image Source and Christina Vaughan has returned to the CEO position. In 2015 Christina turned over her leadership of Image Source to Mr. Harris, but remained a small shareholder. She moved to the position of CEO at CueSongs, and oversaw the initial deployment and beta testing of the new CuePro platform, which won the Technology Strategy Board competition in 2014 and received a substantial grant to develop its “Frictionless Music Licensing for Online Broadcast”.

IPA, Independent Photo Agency Acquires Photofoyer

By Jim Pickerell | 92 Words | Posted 2/8/2018 | Comments
IPA, Independent Photo Agency, one of the most important Italian photo agencies, has announced the acquisition of Photofoyer, which specializes in interior design and architecture photography. The purpose of the acquisition is to start a strategic project for the expansion of IPA’s creative sector, increasing its operations both at the European and extra-European context.

TT News Acquires IBL

By Jim Pickerell | 296 Words | Posted 11/21/2017 | Comments
The TT News Agency in Sweden has acquired IBL. Since its inception in the 1960s IBL has enjoyed a solid market position, in Sweden as well as internationally. Daily newspapers, weekly press, magazines and book publishers are the company’s main clients.

Shutterstock to Acquire Flashstock

By Jim Pickerell | 766 Words | Posted 6/28/2017 | Comments
Shutterstock, Inc. has signed a definitive agreement to acquire Flashstock Technology, Inc., a Toronto based company that enables the efficient creation of custom visual content through its proprietary platform, for approximately $50 million cash. Flashstock has a fast growing customer base of enterprise marketers seeking on-brand content to feed the ever growing visual demands of multiple marketing channels. By integrating Flashstock into its product offerings, Shutterstock will be able to offer a high-quality custom content product to its 1.7 million customers. The transaction is expected to close in July 2017.

Topic Images Acquired By PIXTA

By Jim Pickerell | 342 Words | Posted 3/30/2017 | Comments
PIXTA Inc. in Japan has acquired 80% of the outstanding stock of Topic Images Inc. of Korea from its parent companies, NEWSIS Co., Ltd. and NEWS1 Co., Ltd. for 130 million JPY ($1,164,780). The transaction took place on Feb 24, 2017. Topic has been selling high-priced stock images mainly in Korea, producing many of them by itself.  Topic is now a subsidiary of PIXTA and will receive PIXTA’s strong support for its business operation. However, Topic is continuously conducting its own business as an existing company.

Visual China Group Investors Dump Stock

By Jim Pickerell | 246 Words | Posted 12/14/2016 | Comments
Visual China Group the company that acquired Corbis in January 2016 has seen a more than 50% decline in value as an investment since the purchase and a 20% decline in the last month. VCG is a publicly traded company on the Shenzhen Stock Exchange.

Splash Sold Again

By Jim Pickerell | 228 Words | Posted 12/2/2016 | Comments
Celebrity photo agency Splash News was sold to Corbis in 2011 and has now been acquired by SilverHub Media. SilverHub Media recently did an exclusive deal with Shutterstock for worldwide representation of the images in its collection. Thus, the Splash images should now be available through Shutterstock.

China Seeking Hollywood Takeover

By Jim Pickerell | 203 Words | Posted 8/24/2016 | Comments
According to Reuters China’s richest man, Wang Jianlin, is stepping up his push to take over one of the major Hollywood studios.

Celebrity Photo Agency For Sale

By Jim Pickerell | 221 Words | Posted 8/11/2016 | Comments
A US-based celebrity photo agency is currently looking for a buyer interested in taking over its operations or acquiring its archives. Founded in 2003 by a music photographer, the company has established reputable and strong relationships with publications, artists and publicists. With just one highly motivated owner who wishes to retire, it is profitable, has no debt and is reasonably priced. A buyer could either manage the company as an independent archive or integrate the archive (1.4 Million images, fully captioned in English) to its own collection.

Imaginechina Acquired By Bytedance

By Jim Pickerell | 184 Words | Posted 8/1/2016 | Comments
Imaginechina has been acquired by Bytedance, a digital tech company based in Beijing. The stock agency will continue to operate independently as a photo, video and commercial licensing agency serving editorial media, advertisers, creative agencies and brands, in China, Hong Kong and Taiwan.

StockFood Now Part Of Hubert Burda Media

By Jim Pickerell | 338 Words | Posted 6/16/2016 | Comments
Munich-based StockFood GmbH is now part of Hubert Burda Media´s network. StockFood is one of Germany’s most respected photo agencies. As market leader, it carries works by more than 1,000 food photographers from around the world. StockFood will retain its current workforce and its independence as a company. Hubert Burda Media is one of Germany´s largest media companies and market leader in food media.

Corbis Contributors Released From Contracts

By Jim Pickerell | 364 Words | Posted 5/3/2016 | Comments
Corbis contributors have received the following information relating to the release from their contracts from Corbis & Unity Glory/VCG, the Chinese company that purchased Corbis.

Corbis Transition Almost Complete

By Jim Pickerell | 600 Words | Posted 4/28/2016 | Comments
Getty has supplied Corbis contributors with the information below. For many the most important information is that after May 2nd Corbis contributors who have not signed a separate agreement with Getty Images will be released from their contributor contracts and all survival periods will be waived.

Corbis Acquisition by VCG/Getty Images

By Jim Pickerell | 139 Words | Posted 4/15/2016 | Comments
This story provides links to several stories that relate to the Visual China Group (VCG) acquisition of Corbis and the role Getty Images has been assigned in the transfer of Corbis assets to the Getty Images collection. Getty’s collection was marketed in China by VCG before the sale. The new enlarged collection with the addition of some Corbis images will continue to be marketed in China by VCG.

Veer Closed: Corbis Will Close May 2nd

By Jim Pickerell | 442 Words | Posted 4/7/2016 | Comments
Veer has closed its doors and photographers have been released from any contractual obligations they had with Veer. Images belong to Veer photographers have not been automatically migrated to iStock, but photographers can request a transfer and sign a new iStock contract if they wish. Effective May 2, 2016, the Corbis Images and Corbis Motion businesses and websites will no longer be accessible.

What Did VCG Buy?

By Jim Pickerell | 707 Words | Posted 3/3/2016 | Comments
It seems to me that all VCG bought when they acquired Corbis was: (1) The right to put out a press release saying, “We are the largest stock photo source in China,” (2) The removal of Corbis content from ImagineChina, which many believe was previously the largest stock photo agency in China, and (3) We bought a company from Bill Gates. Rumor has it that Bill Gates was paid $225 million for Corbis.

What’s Next For Veer?

By Jim Pickerell | 299 Words | Posted 3/2/2016 | Comments
Getty Images has contacted Veer contributors to explain what will happen to their imagery as a result of the sale of Corbis to VCG.  Their imagery will not be integrated into the Getty Images collection. Veer contributors may apply to iStock for possible upload of their content there. The memo says:

Next Step For Corbis Photographers

By Jim Pickerell | 1316 Words | Posted 2/12/2016 | Comments
I’m getting a lot of requests from Corbis photographers that basically ask, “What should I do now!” Indications are that fewer than 20% of Corbis photographers will be offered Getty contracts. The actual number may be significantly less. Knowing who will and won’t be selected may not happen quickly. This story offers more thoughts on what's likely to happen and offers options for photographers to consider

How Much Will Getty Benefit From Licensing Corbis Images?

By Jim Pickerell | 791 Words | Posted 2/3/2016 | Comments
In a previous story, I came to the conclusion that the Corbis properties VCG purchased probably generated in the range of $60 million in 2015. Does that mean that after experiencing steadily declining Premium and Midstock revenue for several quarters Getty is likely to have a $60 million increase in 2016? I think the answer is No. Here’s a dozen reasons why.

More On Corbis Sale

By Jim Pickerell | 941 Words | Posted 1/29/2016 | Comments
The good news for Corbis photographers is that there will be no third cut before their royalty share is calculated. However, there are still a number of issues that aren’t clear. This story offers some additional clarifications and insights and a number of questions that are still unclear and need to be answered.

Estimated Value Of Assets Acquired By VCG

By Jim Pickerell | 814 Words | Posted 1/27/2016 | Comments
VCG acquired parts, but not all, of Corbis’ assets. To understand what this means for the industry, it is important to have some idea of the amount of revenue the acquired assets generated in 2015? For a long-time Corbis has been thought to be the third largest seller of stock photography in the world after Getty and Shutterstock. If this is true, then how much does the combination of a significant part of the Corbis collection with Getty Images change the industry?

Visual China Group Acquires Corbis

By Jim Pickerell | 601 Words | Posted 1/22/2016 | Comments
Corbis and Visual China Group (“VCG”; Shenzhen Stock Exchange:000681.SZ) today jointly announced that Unity Glory International Ltd. (“Unity Glory”), an affiliate of VCG owned by VCG’s major shareholders, has acquired the assets and brands of Corbis’ Images division, one of the world’s leading image archives and content licensing businesses. VCG is China’s leading visual communications and new media company and among the largest businesses in the image industry worldwide. Financial terms of the agreement were not disclosed.

Corbis To Be Dismantled

By Jim Pickerell | 371 Words | Posted 1/17/2016 | Comments
Corbis is changing. It is spinning off the right clearance aspect of its business known as Greenlight and renaming it Corbis Entertainment. It is our understanding that the rest of the company including Creative and Editorial licensing will be sold off and to some degree dismantled. It is unclear to whom these operations will be sold or exactly how the dismantling will occur, but more information is expected to be forthcoming later this week.