Get ready for 15% royalties. Getty has contacted some European agencies that supply the company with Royalty Free images for its Creative collection and told them that when their current contracts expire they will be terminated unless they agree to accept a 15% royalty.
Masterfile has filed a formal Proposal to Creditors under the Bankruptcy and Insolvency Act of Canada ("BIA"). This is not a bankruptcy. The Proposal process will provide Masterfile the opportunity to restructure its business with the objective of returning to profitability. This process is similar to a Chapter 11 filing in the USA.
According to
Around The Lens sources close to the New York Times have confirmed that the paper will begin paying freelance photographers a day rate of $450, more the double the $200 they’re currently paying. For shorter shoots, or those that don’t meet the full day-rate requirement, the rate will be $300, still more than the previous full day rate.
Shutterstock, Inc. announced today that it will again offer comprehensive coverage at The Metropolitan Museum of Art’s Costume Institute Benefit, more commonly known as The Met Gala. This premier annual event of the fashion industry will be held on Monday, May 1st at The Metropolitan Museum of Art in New York City. Among the attendees will be prominent and prestigious names in entertainment, fashion, sports, and business.
Here is a list of 13 questions agencies should consider asking themselves. They might even want to consider asking their top producing photographers and illustrators questions 3, 4 and 7.
Technavio, a leading global market research company headquartered in London, has released its annual report on the
Global Still Image Market, looking ahead five years to 2021. They say: “Technavio analysts forecast the global still images market to grow to
USD 4.46 billion by 2021, at a CAGR of close to 8% over the forecast period."
Andy Sitt, the Malaysian founder of
123RF, is seeking to raise the profile of his Chicago-headquartered stock image and design business among funds and investors in hopes of launching an initial public offering (IPO) within the next 12 to 18 months. "We're at that stage where we have to think of the next stage of the company and I believe that the next stage would be some form of exit. So (profiling the company) is more towards building it for a potential IPO," Sitt told DEALSTREETASIA.
PIXTA Inc. in Japan has acquired 80% of the outstanding stock of Topic Images Inc. of Korea from its parent companies, NEWSIS Co., Ltd. and NEWS1 Co., Ltd. for 130 million JPY ($1,164,780). The transaction took place on Feb 24, 2017. Topic has been selling high-priced stock images mainly in Korea, producing many of them by itself. Topic is now a subsidiary of PIXTA and will receive PIXTA’s strong support for its business operation. However, Topic is continuously conducting its own business as an existing company.
The House Judiciary Committee has passed the amended “Register of Copyrights Selection and Accountability Act” (H.R. 1695) by an overwhelming majority of 27-1. Key provisions of the act makes the Copyright Office an independent agency under the Legislative Branch with no connection to the Library of Congress and creates a Small Claims Court System for pursuing infringements.
A writer for the Boston Globe asked me to discuss the role, if any, that stock photos plays in fake news. “Can or should the stock photo industry do anything to curb the use of its photos on fake news sites.” Stock photography is not “Fake.” This is not to say that there aren’t some photos that are designed to be outright distortions of the truth, but the vast majority of stock photos are taken with the hope of showing an actual event or something that illustrates real life.