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I’m getting more frequent requests from long/short hedge fund investors about Getty Images’ turnaround potential in 2015. Getty’s $550 million of 7 percent unsecured notes due in October 2020 are selling for approximately 50 cents on the dollar. Investors are trying to determine if that is a good price, or if they could go even lower. (Getty also has about $2 billion in additional debut.) Here’s some of what I tell them.
Back in the early 2000s Graphic Designers started complaining that Royalty Free stock was too expensive and began looking for less expensive ways to get the photos and illustrations they needed for their projects. That was the birth of microstock. Now Christian Toksvig, former Getty Images VP, Christian Toksvig,, thinks there is new demand for still lower prices. He has founded StockUnlimited
and is offering unlimited vector downloads for $9.99 per month.
According to Meredith Kopit Levien, New York Times EVP of Advertising, speaking to OMMA SXSW in Austin, TX recently, “Last year the Times did about $180 million in digital advertising and almost that much in digital subscriptions. That puts us at a digital business that’s in the $350 million range."
Royalty free stock image agency Novel Expression
and Jenn LeBlanc of Illustrated Romance
are launching the Exclusive Jenn LeBlanc for Novel Expression collection. The initial collection will feature images of male and female same sex couples in both contemporary and historical costumes.
Houghton Mifflin Harcourt (HMH) has started requesting images directly from some very experienced stock photographers and offering them $300 for all-future-rights, including copyright
, to any image they select.
Under the title “Imagestate Media Partners Limited – In Liquidation” the Joint Liquidator in the UK reported on 6 March 2015 that Imagestate had been liquidated.
Bond traders are asking “If Getty Images changed its name, but had all the same content and pictures, would this have a significant impact on sales/marketing?” The reason for this question is that revenue has been declining for Getty for at least eight quarter and it is becoming increasing apparent that there is likely no way to turn the business around.
iStock by Getty Images will stage the UAE's first ever iStockalypse event in Dubai from 26 thru 28 March, 2015. Specifically chosen as a fitting venue to mark the 10th anniversary of iStockalypse events, iStockalypse Dubai will bring together a select group of both local and global photographers and videographers for three-days of creative shoots and visually themed talks.
Stock photography is a two-sided market. For the most part image producers need a distributor to make potential customers aware of their work. Image buyers need distributors to make it easier for them to find what they need when they need it. The distributor needs to cover its cost of providing the service and make a profit. But the distributor must also manage the delicate balance between what customers are willing to pay and generating enough royalty for contributors to encourage them to continue to produce.
Jonathan Klein, Co-Founder and CEO of Getty Image, has stepped down as CEO 20 years to the day after he and Mark Getty founded the company. Klein will continue as chairman and will remain instrumental in determining strategy, direction and vision for Getty Images. As Klein transitions into his new role as Chairman the company is expected to “expand its footprint in the consumer space.”
Stock Photo Secrets has put together a list of 80 Stock PhotographyTrends For 2015, In 2014 Stock Photo Secrets surveyed stock agencies and put together a list 50 trends of the kinds of imagery custo...Read More
The Microstock segment of the stock photography business has grown rapidly over the last few years. I estimate that in 2014 gross microstock revenue, worldwide, was approximately $850 million. Sales ...Read More
Shutterstock has reported $91.2 million in revenue for Q4 2014, a 34% increase over Q4 2013. There were 33.5 million downloads for the quarter. About 28 percent of revenue for the quarter was paid ou...Read More
Bridgeman Images has acquired Rue des Archives, the premier French archival photo library, and expanded the company’s range of historic imagery and personalities for licensing. Rue des Archives...Read More
Clear Arts – ImageProtect (www.imageprotect.com) an image tracking company has successfully negotiated a six figure damages settlement for copyright infringement of images belonging to Lived In...Read More
Getty Images, the world’s leader in visual communication, and LeanIn.Org, the women’s non-profit founded by Facebook COO Sheryl Sandberg, are celebrating one year of partnership with the ...Read More
Scoopshot, the leading mobile platform for photo and video crowdsourcing, has partnered with Pearson. In an effort to reach out and engage millennials, Pearson is using Scoopshot to crowdsource photo...Read More
President Bob Hendriks and Treasurer Deborah Free have quietly announced resignation from their Young Photographer’s Alliance (YPA) positions as of December 31st 2014.Read More
Margi Sheard of the Greatstock (www.greatstock.co.za) agency in South Africa recently published a story that raised an important issue about the world’s perception of Africa and the African peo...Read More