Recently, Corbis announced it would be cutting 125 positions over the next several months, based on regional and local considerations. This is on top of the June announcement to eliminate 160 positions resulting from the closing down of its assignment business and the decision to sell its digital asset management division.
Everyone talks about the need for a simple pricing structure, but at present, it isn't happening. Somehow, we need to find a way to make all images available to all buyers at prices each can afford without giving images away to those who can justify paying more. It's time for major modifications.
JaincoTech has partnered with Advertising Photographers of America to provide discounted digital imaging services to APA members.
Evan Nisselson, founder of Digital Railroad and its CEO until this week, has quietly handed over the company's leadership to Charles Mauzy. The former company president, is also stepping up to the post of CEO. Nisselson will continue as chairman of the board, focusing on building alliances and representing Digital Railroad at events and conferences.
"In one respect, I always think it is unfortunate when a brilliant independent company is swallowed by a whale," says Steve Pigeon, president of Canada-based Masterfile. While Pigeon is a pragmatic man who thinks the recent Corbis acquisition of Veer was a good move for the two companies, the erosion of independent agencies is often lamented by industry insiders.
According to the Interactive Advertising Bureau, online ad revenues in the U.S. exceeded $5.2 billion in Q3 2007. In the first nine months of the year, online advertisers spent $15.1 billion, a 26% increase over the $12.1 billion for the same period in 2006.
Getty Images issued a statement Nov. 16 claiming "early success" of its recently introduced, controversial Web-use image license.
Will Getty Images $49 Web Use product grow revenue for the company? Nick Evans-Lombe, executive vice president of imagery, products and services at Getty Images says, "We created a brand new product, at a compelling price point, for an entirely new market, and customers are responding. The Web-resolution product is in its early days, but demand is already very strong."
Bowing to pressure from a coalition of artist groups, led by the StockArtistsAlliance, and recognizing that it may have given away too much in their initial offering of the $49 "web-resolution" license, Getty Images has announced several changes in this program that started at the end of August.