With its Lifesize collection Getty Images has opened the door to its site to every photographer who can meet a certain quality standard. With this move Getty may have set out on a path that could put many of its image partners out of business!
Kroll, the company charged with closing Imagestate, has filed a six-month report on their progress along with details of the transaction. The agreement transferred debts of approximately £438,000 of Imagestate receivables to Heritage Partners. Hertitage agreed to remit 50% of all monies realized and provided for £500,000 to be paid in three installments.
This article includes stories on: Getty Launches Beta Test Of New Site; Corbis Names Gary Shenk President; Amana Images; Corbis Wins $20 Million Judgement Against Template Monster And Others; The Cover Story Terminates Stock Photo Operation; Photographers Receiving Photolibrary Payments; Cannibalizing Customer Base; Integration And Payment Problems and Anthony Harris Leaves Getty.
Included in this story: Corbis Names Gary Shenk President; Alamy & BK Wine Collaborate; Corbis Offers Financial Award For Pro Bono Creative Work; Eye Candy Images; Masterfile Tag Clouds; Alaska Stock Promos Win Coveted International Recognition; Greenhouse Gas Reduction Program At Alamy; Going Global With Pepper Stark; Getty Images Strikes Red Carpet Gold; UPDIG Guidelines
a21, Inc. has reported $5,904,000 in revenues for Q2 2006, but only $2,986,000 of that was for the stock photo side of the business. ArtSelect which provides wall art for homes and businesses provided $2,918,000.
In March I did an analysis of the search return order of the various brands on the Getty site. Given the number of new collections, the number of images Getty has been adding to the site and their intentions to add significantly more, it seems like a good time to update those figures. The results provide some interesting insights.
Getty Images has opened the door to a broad base of professional and amateur photographers to join the new brand Lifesize and market their images through the Getty web site.
This story provides a chart that illustrates what has been happening to Getty Images return-per-image over the last four years. Getty's gross revenue from still image licensing has grown about 50%, but as the charts show, not nearly as fast as the number of images added to the collection. As a result image suppliers have found that they have to produce more and more images each year just to stay even.
During his last conference call for stock analysts Jonathan Klein provided some broad outlines for dramatic changes in strategy in 2007 (See Story 884). Both Getty photographers and others in the industry have expressed deep concern regarding the implications of some of the proposed changes. This story explores what Getty might and considers options photographers and other suppliers might have.
Who needs professional image creators when you have crowdsourcing? Doritos and the NFL plan to air ads created by non-professionals during the Super Bowl on February 4, 2007. No kidding!! Learn more about it.
Jupitermedia had disappointing quarter with revenues or $33.8 million for the period ending September 30, 2006. This was down $1.2 million from $35 million in Q2 2006, and only a $2 million improvement over the same period a year ago despite significant acquisitions during the year. Revenues for the image division were $26,177 million down $630,000 from the previous quarter.
Getty Images, Inc. has announced that its board of directors has established a special committee to conduct an internal investigation relating to the Company's stock option grant practices and related accounting for stock option grants. This review is being conducted with the assistance of outside legal counsel retained by the special committee.
This issue contains the following stories: Sea Change At Getty; Getty Has Disappointing Third Quarter; GDUSA Survey Results; Alamy Changes Rate Structures; Where Are Pricing/Volumes Headed?; Corbis To Handle Veer's Solus Imagery; Industry Slowdown; RF Producers Form ISPA; Some Thoughts About Microstock; Other Micropayment News; Art Directors Speak Out
Photographers and image suppliers to Index Stock Imagery welcome the news that after years of delay they will finally be given sales reports and paid royalties for the usage of their images.
Checks should be arriving in a couple of weeks.
Photolibrary has signed an agreement to purchase Index Stock Imagery of New York. Index Stock will join the rapidly expanding group, which includes Photolibrary, Garden Picture Library, Oxford Scientific, Fresh Food Images (Anthony Blake of the UK)and Monsoon Images.
This address was given by Roger Ressmeyer, PACA President at the 2006 PACA International Conference in Key West, Florida. Ressmeyer outlines his view of the state of the stock photo industry and some of the challenges ahead. Ressmeyer is also CEO of Science Faction Images
In July I published a letter from Pino Granata that asked the question "Is There A Future For Stock Agents". I also outlined my thoughts and comments from a number of readers. I recently learned that Chris Ferrone, Editor of abouttheimage.com, wrote an editorial on the subject in January 2006 and with his permission I have re-printed it here.
This edition contains items on: Corbis Expanding RF Collection; Image Source Pulling Out Of Corbis; iStockPhoto Statistics; PunchStock Adds RM Images; GDUSA Comments; Jupiter Acquires Cover Images In Spain; Jupiter CFO Chris Baudouin To Leave; The Future Of Video?; Stephen Hearn Leaving Jupiter and Newspaper Advertising Revenue.
Alamy added almost a million new images to its collection in Q3 2006, two-thirds of them Rights Managed. Photographers uploaded slightly fewer RF than in the previous quarter, but significantly more RM with the total images uploaded by photographers at 466,750. There is no indication as to how this relates to revenue growth.
After a bad year relative to expectations Jonathan Klein has outlined some radical changes in strategy for the company. It is recommended that readers review Story 885 in order to fully understand the implications of this one.
Getty Images reported Q3 2006 revenue of $198.1 down from $204.8 million for Q2 2006. Share price falls an additional 4% and Klein announced major strategy changes.
RF stock production companies have become concerned with the accounting practices of an increasing number of distributors not meeting their contract obligations in terms of reporting and paying commissions and have formed the International Stock Producers Alliance in an effort to deal with the issues.
Getty Images has announced a reorganization plan which includes cuts in staff including the entire New York sales staff and a shuffling of responsibilities for senior people.
Sunday River Ski Resort in Bethel, Maine has developed a novel way to promote their business for free. They invite customers to post on their site videos of themselves or other skiers and snowboarders, taken at Sunday River.
a21, Inc. has appointed John Z. Ferguson Chief Executive Officer and he joins the Company's Board of Directors. Mr. Ferguson previously held senior management positions at Getty Images.