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.
As of Nov. 15, the PhotoShelter Collection is open for business. The new marketplace offers the professional, amateur and hobbyist photographer 70% of image sales. It's been open to photographers for two months and has already amassed 225,000 images from over 5,000 contributors.
The proliferation of microstock, combined with a general overcrowding of the stock-image space, has resulted in many pro shooters seeing declining stock revenues and considering diversification. The video market is one option, for a number of creative and economic reasons.
There is a lot of talk of recession, but so far the U.S. economy is not considered to be in one. However, recession, defined as two or three consecutive quarters of decline in economic activity, may already be here for the stock photo industry. The revenue numbers below are in millions for the industry's three publicly held companies:Getty Images, Jupiterimages and a21.
Today, Corbis announced the next step in its concerted pursuit of profitability. In a phased plan that will be implemented over the next six months, the company will restructure its international sales operations, resulting in the closing of eight office locations and cutting approximately 125 positions. According to the company, the restructuring has nothing to do with current business performance, but maintaining industry momentum.
a21, Inc. has reported $5,387,000 in revenues for Q3 2007, down 9% from the same period in 2006 and down 5.5% from the previous quarter. The SuperStock/Purestock portion of revenues were $2,765,000 down 7.4% from the previous quarter. In Q2, SuperStock revenues were down 4%, compared to Q1 2007.
Jeff Burke and Lorraine Triolo have been recognized by Mayor Michael Cacciotti for having installed the largest commercial solar electricity system in South Pasadena, Calif. It's on their building, where Jupitermedia now has its Los Angeles headquarters.
Italian Web company Starring has launched an English-language hosting service to showcase and promoted the work of European photographers, photographerspro.eu.
Munich specialty agency StockFood is sponsoring the FAB Futures Award 2008, a new category in the 10th International Food and Beverage Creative Excellence Awards.
The technology segment devoted to visual search is continuing its development on both ends of the spectrum. On one side are the businesses that want to monetize the public's thirst for imagery, fueled by the proliferation of social media, photo-sharing and Web 2.0-style communities. On the other, content owners and publishers, whose copyright-enforcement concerns are growing at a corresponding pace.