Getty's new Campaign Pricing, or Flexible License Packs offer customers with many potential uses for an image, a greatly simplified way to purchase rights, and, possibly, a great reduction in costs. This story details the numbers and explores some of the long range implications for everyone in the industry.
This issue contains stories on Increased Image Use???, Legal Nightmare, Getty Raises Estimate, VNU Launches Stock Portal, VEER Acquires Solus Images, Stockbyte Buys VC Stake, Digital Color Printing, A21 and Superstock Deal, Hughes Named ImageState CEO, Purchasing Pixels, Clients Speak Out, Personalized Ads, Pew Internet Survey, Hidden Internet Uses, Film Decline At Kodak and Price Per Pix.
Will there be increased use of still images in 2004? Economists expect the U.S. economy to grow. Getty expects 8% to 12% revenue growth due to price increases and growth in the number of images licensed. But, there are a host of indicators that still image use is likely to decline. This story examines those indicators.
Judge Louis Kaplan has ruled in favor of the National Geographic Society in cases brought in the Southern District of New York by Fred Ward, Douglas Faulkner, David Hiser and Louis Psihoyos concerning the use of their images in NGS's CD-ROM products that used 108 years of NG Magzine images and stories. Jerry Greenbergs previous win against NGS for use of his images in the same product may also be thrown in doubt. The case that has been dragging on for six years is likely to drag on for several more.
This article has short items on Getty Raising Estimates, Digital Camera Sales, Pew Internet Survey, Ad Trends, Hidden Internet Uses, Model Releases, FutureStock's 700 MB Files, StockMedia Turnkey for RF Sellers, Corbis Represent WLIW, and news from Photolibrary.com, Index Stock, PanoramicImages.com and Virtual Picture Desk.
Some photographers have asked that I produce a survey that would develop an ''average return per-accepted-image, per-year'' for the industry. This story provides some figures based on Getty's public numbers and explains why it is impossible to extrapolate from these numbers any overall industry number, or figures for any other agency.
In this article which first appeared in PICTURE Magazine, Pat Hunt surveyed 19 art buyers from across the country on a number of industry issues.
In this article six art buyers from New York, Chicago and New Orleans talk at the PACA International Conference in New Orleans about how they work and what they need from stock photo archives. Some of their comments were predictable, but there they also offered some important insights into possible new trends.
Stockbyte has bought out the 30% stake held by its venture capital partner, ACT Venture Capital, for an undisclosed sum. ACT bought a 25% stake in Stockbyte in 1997 and a further 5% in 2000. Jerry Kennelly and his wife Johanna are now the sole shareholders.
Leslie Hughes has been appointed CEO of ImageState, Inc. and Group CEO Designate of the Company. She will be based in New York and operate predominately out of that city. Hughes had joined Elisar Software Corporation as CEO in May of 2003, but left in October to join ImageState. Elisar closed its doors on November 7th.
Veer has signed a definitive agreement to acquire Solus Images. Financial terms were not disclosed. The agreement marks Veer's second acquisition in just over a month. (The first was Jukebox Typeface Foundry of Hollywood, CA.) These two acquisitions demonstrate the company's commitment to expanding its business by bringing more of the content acquisition under its direct ownership or control.
a21, Inc. has announced that it has completed the due diligence process and signed a Definitive Agreement to acquire SuperStock. Financing is expected to be completed in 120 days. The due diligence process with nonstock to determine an acquisition price is continuing.
In this issue Hemera Images offers non-subscription downloads for $4.95 for 5 images and $.99 thereafter; Zefa changes management in The Netherlands, TrendWatch statistics; Index Stock wins award; Canon digital camera production; Kodak getting out of film; and suggestion for cashing Royalty Checks made out in foreign currency.
This addition has a report on Getty's third quarter revenue which uas up slightly on a down trend in number of items sold, and Getty's Adjustment of Search Results to put more emphasis on RM. In addition there are senior staff changes at Corbis, and stories on Performance Bonds, the Property Release Dilemma and several stories on RF's Impact on Stock Revenue and the future implications of RF.
Jose Azel's Independent Photography Network (IPN) has been sold to VNU Corporation, parent company of PDNOnline. PDN will operate the new portal that will be at www.IPNstock.com as a service to photographers and stock agencies and an extension of its mission to ''serve the photo community''. PDN does not intend to become an agency itself.
Getty Images, Inc. reported third quarter revenue of $130.8 million up 2.7% from the $127.7 million in the second quarter of 2003 on the strength of rising prices, not increased sales volume. Despite shifts in search order results on the web site that dramatically favored RM images, the number of RF images sold were still strong, and RM revenues continued to decline, though not to the degree they dropped in the 2nd quarter.
PACA has announced the results of the 2003 Stock Picture Industry Survey, a North American survey that addresses significant industry questions about major trends covering products, revenues, rate of growth, leading areas of content and more.
Stephen Mayes provides insights on the continuing Royalty Free vs. Rights Managed debate. He is Director of Art + Commerce Anthology and previously Creative Director of Image Source, CEO amana america and Senior Vice President of Getty Images.
The StockArtistsAlliance leaders takes issue with many of the points in my Story 580 on ''Re-Evaluation of Royalty Free'' and hope that photographers will not produce RF images. This story lays out some of their arguments.
The Virtual Picture Desk has taken over management of critical activities at Panoramic Images and George Sinclair has been appointed CEO. Doug Segal the current Chairman and President of PI will shift his responsibilities to focus on new business development and the oversight of his new venture, FillPrints.
Goodshoot is a French RF company and General Manager Philippe Bigard provides some interesting details on how the market for RF is developing in France and Europe. Bigard believe the French market requires a special style of photography, and thus he is only interested in working with European photographers.
This issue has short items on Stephen Mayes' move from Image Source to Art and Commerce in New York, Picture Arts launches Botanica, VEER Honored with Two Awards, Do Not Call could benefit stock industry, Kodak's Problems and Wire Transfer Ripoff.
Corbis has eliminated certain positions including those of COO, Tony Rojas; VP of Worldwide Sales, Bruce Cheseborough; and VP Systems, Bob St. Clair in an effort to reduce and flatten the executive organization and ''drive functional decision-making more deeply into the company and maximize efficiencies across all business units,'' according to Steve Davis in an internal memo to the staff.
A photographer asked recently, ''What is your take on the theory that the overall world market for imagery (based on revenue) has been significantly diluted by the emergence of RF and it's generous licensing terms?'' My short answer is that world revenue was flat in the 90's and has dipped slightly in the past couple years, but RF has not been the principle cause. See this article for a more explanation.
Photographers shooting RM need to look at options other than speculative shooting for financing future shoots given the difficulty in getting a significant number of images into marketing. This story explores Performance Bonds that are used to a great extent in Europe.