News Analysis
Getty Images, Inc. announced today that it has completed its acquisition of Visual Communications Group (VCG) from United News & Media PLC. The acquisition was financed using the proceeds of a $250 million 5% convertible subordinated note offering due 2007, which closed on March 6, 2000.
Business Week has announced a major increase in assignment and space rates for the images they use. Stock uses should be similar to the space rates, if not higher. The space rates are dramatically higher than the editorial numbers in ''Negotiating Stock Photo Prices'' or ''PhotoQuote''.
Stories this month include: Getty Acquires VCG, Getty's Year End results, How Getty's story to investors differs from what they are telling photographers, Changing Educational Uses, Your Next Career and Is Video In Your Future?
There are persistant rumors that The Stock Market will be acquired by Corbis in the near future. Richard Steedman has denied the rumors in talks with photographers. In this story I discuss the pros and cons of such a merger and suggest things photographers should be considering.
News about Corbis, Saba, Time-Life Books, Index Stock Imagery, Speedpix, Corbis Acquiring Footage Now, Sheldon Marshall Launches GlobalState and more.
The stock photo industry needs to totally revise its pricing model for uses in educational publishing as it takes into account new methods of distributing educational content. This story tells you why and outlines industry changes.
As methods of communication change and the stock photo industry becomes more controlled by big business and saturated with content it is time for many photographers to begin thinking about a course change for their career. This story outlines some of the reasons why this course change may need to be made soon.
It's time for stock photographers to take a look at video. The costs televison quality video equipment has come way down and the potential demand for this type of photography is about to skyrocket. Review the options and learn what you need to know to get started.
Shorts on Getty Rumors, Todtri and Picture Perfect, New York Times IPO, Happy Photographers at Corbis, Corbis Sub-Agent Strategy and Devaney Stock Photos.
FPG has upgraded their on-line site and added their iSwoop Royalty Free products to the site. They also have on-line prices and the prices are HIGHER that those in Negotiating Stock Photo Prices, a welcome change from some of the other things that have been happening on the price front.
Trend Watch reports that there is increasing demand for creative professionals to create designs that can be used across all media such as web pages, print ads, broadcast, direct mail, billboards, etc. This could result in sales for higher prices, but require much more tracking to be sure you are paid properly.
Getty is telling the investment community one thing and their photographers something else. This story looks at what TSI photographers were told at a New York meeting on Jan. 21st, and how it fits with what Getty is telling investors.
Internationally recognized baby photographer Penny Gentieu has sued TSI for copyright infringement and non-payment of monies owed. She alleges that TSI is not pursuing third party infringers and allows images to be used long beyond their license term.
Stories this month include: SuperStock's launch of Express Pricing, an analysis of RF sellers, what Getty is telling Investors, what foreign agencies are looking for, and problems photographers are having shooting scenics in Santa Barbara.
On December 15, 1999 Art Wolfe sold 7,587 shares of Getty Images stock he received in ''Payment for Photo Rights'' a year earlier. When acquired the shares were valued at approximately $100,000. He sold them for $312,000.
In an effort to make the process of purchasing stock more hassle-free for the buyer SuperStock has instituted Express Pricing. A simplified list of 18 prices are expected to cover 80% of SuperStock's sales.
The size and potential for growth of the stock photo industry is important to investors. Many of the numbers investors rely on have little basis in reality and their decisions may cause problems for those of us who shoot and sell images.
Nancy Wolff, PACA Counsel, provides a concise explanation of copyright rules in the United States relative to the duration of a copyright.
Santa Barbara has passed laws that make it almost impossible for a stock photographer to legally shoot in this attractive oceanside community. Norman Sklarewitz outlines the mind-boggling red tape. Will other cities follow SB's example?
Some photographers are saying that the numbers in Negotiating Stock Photo Prices are out of date and should be reduced. See why we disagree.
These short news items include: Sheldon Marshall's return to the indusry, Gamma Sold, Web Crawlers Win Right to use Your IMAGES, Decline in the Printing Industry, What foreign agents want in the way of images, and more.
Photographer/editor judiwhite offers some useful suggestions on pricing web page uses. Her insights are particularly important because she was one of the founding editors of Time Warner's Virtual Garden on Pathfinder, and has a solid understanding of the publishers perspective.
United News & Media, (UNM) parent of Visual Communications Group (VCG), and Carlton Communications have announced a £7.8 billion ($12.6 billion) merger. VCG is scheduled to be sold as the new company focuses on its television business.
Dirck Halstead, President of The Digital Journalist has founded a new agency to help still photographers produce and sell digital video projects for use on television and the web. The next training session is at Apple Computer in California in January.
Getty's third quarter sales and their story to the investment community offer some interesting insights for photographers.