Given the microstock discussion that took place during the recent Getty Images conference call with industry analysts, there may be a misinterpretation of iStockphoto’s strength in the worldwide marketplace.
During the recent Getty Images conference call, Citigroup analyst Matthew Troy asked CEO Jonathan Klein to talk about the company's dialogue with image suppliers relative to the $49 Web use for nearly all RM, RR and RF images.
The Getty Images Q3 2007 numbers show a downward tend in both RM and RF revenue.
Total RM revenue for the quarter was $71.86 million, down almost 10% from $79.79 million in Q2 -- and the lowest quarterly sales since Q3 2004. RM revenue for Q1 2007 was $81.64 million. The highwater mark for RM revenue was $86.18 million in Q1 2006. Thus for almost two years the company has seen a steady and increasingly rapid decline in RM revenue.
Quantity vs. quality is a never-ending debate topic in the stock photo industry. Based on discussions I had at the recent PACA International Conference in Las Vegas, I think we are about to see another of the periodic shifts in emphasis, with quality coming to the forefront.
Imagestate is scheduled to be dissolved on January 12, 2008 after a notice to move from being under Administration to Dissolution was announced on October 12.