Alamy to Enter News Sector

Posted on 4/30/2010 by Julia Dudnik Stern | Printable Version | Comments (0)

U.K. stock-image company Alamy has announced plans to launch a 24/7 news feed service in May. The service will first launch in beta, with a full product release coming later in the year.

Alamy has been recruiting photojournalists to provide breaking news and event coverage. Interested photographers can apply online.

The new service will compete with editorial coverage offered by industry-leading companies such as Getty Images and Corbis, boutique photojournalism agencies, and major news agencies spanning from Agence France Presse to Reuters. What is different about Alamy’s service, however, is its continued focus on the supplier side of the business.

According to Alamy chief executive James West, the news feed service is designed to offer hope to photojournalists facing a market contraction due to continued industry consolidation. Alamy already does business with a number of major news media organizations, and the new service will not only strengthen the company’s buyer offering, it will also offer suppliers a new outlet for their content.

What is particularly attractive to suppliers and is the reason for Alamy’s popularity with photographers is that the U.K. company pays the highest royalties in the business. “We are the only major photo agency that pays its photographers more than we pay ourselves,” say company materials. Alamy also donates 89% of its profits to philanthropic research into cancer vaccines and hereditary disorders.

Copyright © 2010 Julia Dudnik Stern. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-461-7627, e-mail: wvz@fpcubgbf.pbz


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