Getty has substantially closed down all of its U.S. scanning operations which were located in Seattle. It is expected that London will staff up to handle some of the workload, but the number of images scanned annually is likely to decrease.
eMotion, Inc., has announced the sale of its PictureQuest content business to Creatas a vertically integrated, media/marketing business selling products and services to the creative community. Creatas first appeared in the stock photo environment in December 2000 when it purchased Dynamic Graphics.
This article contains an update on the Pictor bankruptcy, proposed sale of Sipa to Reuters, Getty's closing of Colorific, a new agency called Raw Talent, and Corbis selling images to mobile phone users in Japan.
Getty's 2nd quarter sales were $115.9 million. They expect sales to continue to fall off for the rest of the year and estimate 3rd and 4th quarter sales at between $100 and $110 million each quarter making the gross for 2001 around $449 million. This would be a drop of 7% from 2000.
This contains short items on Sensitive Issues, New Argus portal, Decision Time for SAA Photographers, Photo 20-20 Joins Lonely Planet and Blackwell Named Senior VP at Getty Images.
Speedpix has run out of money and will cease to deal directly with clients at the end of July 2001. In future photographers will handle sales directly and will be responsible for all scanning and keywording of new images. Speedpix has hopes of raising funding for promotion somethime in the future.
Getty Images, Inc. announced today that their sales for the quarter ending June 30, 2001 are expected to be about $115 million down from the $124 million in Q1. They had announced on April 25th that they expected sales for Q2 to be between $120 million and $130 million.
This issue has stories on Ad Sales Down, Tasini Wins, NY Times Rights Grab, Pictor Inc. Bankrupt, Index Get More Capital and Reduces Photographer Percentage, Sub-Agent Shake Up, CEPIC Congress, and Stock Industry Statistics.
In a 7-2 decision the Supreme Court has ruled in favor of Jonathan Tasini in his case against The New York Times. Electronic databases are not revisions of print uses according to the Court. While this is good news, damages have not been assessed and there are still hurdles ahead.
Pictor International Inc.'s bankruptcy creditors meeting held on June 21st provides rare insights into the operation of the agency as well as information about the plight of their photographers.