Growing E-Commerce Sales at Getty

Posted on 5/5/1999 by Jim Pickerell | Printable Version | Comments (0)



May 5, 1999 - Getty Images, Inc. today announced financial results

for the first quarter of 1999. Sales for the quarter were $52.2 million up

slightly from the previous quarter which was $50.1 million. These sales were a

38% increase over first quarter 1998 sales.

The reported EBITDA (earnings before interest, taxes, exchange gains/(losses),

depreciation, amortization, non-recurring integration and restructuring costs,

legal settlement and

extraordinary items) was $9.6 million. This was a 46% increase over the first

quarter 1998 EBITDA.

Digital sales in the quarter, consisting of e-commerce and CD-ROM sales,

amounted to $20.1 million or 39 percent of sales. This compared with 36

percent of sales for the fourth quarter of 1998 and 23 percent of sales for the

first quarter of 1998. Registered web customers on all Getty Images full

e-commerce web sites grew to more than 93,000.

Approximately 25 percent of the sales on the web site were to

new customers. E-commerce sales for TSI continue to exceed expectations in

both North America and Europe. E-commerce sales in North America accounted for

15 percent of the total North American sales for the quarter (up from 10 percent

in the 4th quarter of 1998), while UK

e-commerce sales accounted for 6 percent of the brand's total UK sales for the

month of March 1999.

The site reported a nearly 80 percent increase in e-commerce

sales over the first quarter of 1998. Sales on the site represented 40 percent

of total sales for the brand. PhotoDisc executed a reseller agreement with

amana, the parent company of Photonica, which gives access and product

endorsement to amana's more than 60,000 licensed stock customers in Japan.

In April of this year, Getty Images made its imagery available to a consumer

audience for the first time as PhotoDisc became the premier provider of

contemporary royalty-free photography to's new electronic

greeting-card site.

Registrations on the web site are up nearly 20 percent over

the fourth quarter of 1998 and they ended the quarter with more than 1,000

subscribers for its

web site.

Mark Getty, co-founder and executive chairman says the next step in providing a

more efficient, user-friendly and cost-effective platform for getting Getty

Images customers will be "to launch a hub web site that will allow our

customers to search across all our creative collections in the second half of

the year."

To review the report from the first quarter for comparison purposes go to

Story 204.

Copyright © 1999 Jim Pickerell. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-461-7627, e-mail: wvz@fpcubgbf.pbz

Jim Pickerell is founder of, an online newsletter that publishes daily. He is also available for personal telephone consultations on pricing and other matters related to stock photography. He occasionally acts as an expert witness on matters related to stock photography. For his current curriculum vitae go to:  


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