News Analysis
Getty has reported 1st quarter revenue of $113.9 million, up 11.8 percent from the previous quarter. They have also supplied new information about the percent of revenue of various segments of their business, the gross margin of each segment, average price per usage, average revenue per sales employee and a geographic breakdown of sales that should be very useful to others in the industry.
ImageState has gone through a major restructuring of its business. Sheldon Marshall says they had ''geared up the business anticipating a much bigger business than it is (and found) it necessary to downsize to meet the level of existing business that we have.''
Agents, do you need to expand your supply of images? Don't drive photographers away with terms they can't afford to accept. Read this story and consider how important ''exclusive rights'' really are and whether you need to have exclusive rights to all the images you represent.
Getty Images has announced significantly higher than expected 1st Quarter revenues of $113.5 million. This was up from $102 million for the 4th Quarter and exceeded Getty's 1st Quarter estimate of between $103 and $106 million.
Photographers are increasingly concerned that they are not receiving all the monies they are entitled to from their agents. Read about some of the things that are causing these concerns and things both photographers and agents need to think about.
This issue contains stories on E-Data Corporations' attempt to get a share of fees from all digital sales, Higher fees from some book publishers, Getty Press Division Sales, ImageState Completes Move to New York, Defining ''Crappy'' Photography, and Alaska Stock's Website Upgrade.
Sygma Staff is back to work in Paris, Coalition of Visual Artists Flounders, Corbis Stock Market moves office, Harper Collins Publishers Sued For Unfair Dealing With Authors, SuperStock Acquires PowerStock, New Artists Relations Positions Announced at Getty and more.
Pricing textbook uses is getting more and more complex as publisher seek broader rights for the images they purchase. Sellers are often giving away huge additional rights for only a small additional fee over what they would charge for much less use. Check out our analysis of the numbers.
This issue of Selling Stock contains stories on: Work Stoppage At Sygma, Tony Stone's comments on the industry, and Jim Pickerell's analysis of those comments, Pictor Ltd. Insolvent, SuperStock Creates X-File and Closes Production, Getty Images 2001 Results, Ad Sales Down, Acquisitions by ImageState, GlobalPhoto, Corbis and SuperStock, Creative Eye's Search For Money and more.
Peter Dean has developed a very effective way for someone with a small file of images in a specialized subject area to make those images available for searching online. His experience is worth considering for those with lots of images and limited resources for marketing.
This story contains short items on SolusImages' new international network, Workbookstock's Ad Campaign, Appeals Court Decision on Web Crawling For Images, Retrofile.com, news from Corbis, Zefa and Image State, Cautions on tracking your images once they are online and anticipating stock agency bankruptcys; and more.
Pictor International Limited in the UK is insolvent and asking their creditors to agree to a payment plan that would pay them, over a three year period, a total of approximately 4 percent of the $2,229,000 they are owed. Creditors owed another $14 million will probably receive nothing.
Getty Images, Inc. has reported better than expected fourth quarter 2001 revenue of $101.8 million. This compared to $129.4 million in the fourth quarter of 2000. Total revenue for 2001 was $451 million, down 7% from $484.8 million in 2000. E-commerce revenues were $62 million representing 61% of sales.
While some companies are moving out of New York, ImageState is consolidating their far flung operations in the heart of Manhattan. Their production operation currently located in Seattle will be moved to NY, and many of the European operations will also move there.
The French news staff of the Corbis brands Sygma, Kipa and Tempsport instituted a work stoppage on January 28th. Additional stories in this Random Thoughts include: Corbis Acquires Sekani, Ad Sales Down in 2001 and Expectations for 2002, Zefa Opens London Office, National Geographic CD-ROM's Missing Some Pictures, Hemera Technologies and TimePix Changes Directions.
SuperStock has changed their production strategy and closed their three studios in Jacksonville. In the past they had employed between 4 and 6 staff photographers and 3 producers. Now they believe they can get all the images they need from the photographers who work with them on contract.
Getty Images has announced that they will close the Seattle design studio that produces catalogs and advertising material and move the operation to London. A main emphasis of the Seattle studio had been the design of marketing products for PhotoDisc.
SuperStock has developed a new two-tier online search strategy that will allow them to make many more images available for customer viewing than is the case with most other agencies.
The French Royalty Free agency, PR Direct has taken control of the bankrupt editorial agency GlobalPhoto. Photographers may receive no royalties for images licensed by GlobalPhoto before the bankruptcy was filed.
Creative Eye, a photographer cooperative, is in financial trouble. Founded in the summer of 2001 as a way to save the MIRA stock photo database originally developed by ASMP, it now is asking photographers to buy Preferred Stock shares at $1,000 each.
This story looks at some of the issues raised in the Saunders article on Tony Stone (Story 452) and offers some alternative points of view and things to think about.
This issue of the printed newsletter has stories on Resolutions For 2002, New Business Model, Photographer Payment Problems At Getty, Where's RF Headed?, Getting Images Seen, Corbis Reorganization Of Sygma, Other French Editorial Agencies With Problems, and Effective Keywording.
Stock agencies need to examine new business models as an alternative, or add-on line-of-business to the traditional agency model. The one outlined in this story focuses on handling Editing and Research for customers and providing Negotiation, Collection and Payment services for photographers.
Now is a good time to start your planning for 2002. This story offers a few resolutions for photographers and stock agents to consider.
Getty Images has been struggling with the integration of the VCG accounting systems into their new Alliant accounting software. Photographer sales statements have been delayed. This story explains what has been happening as Getty works toward solutions.