Getty Images Releases Market Analysis

Posted on 6/11/2008 by Julia Dudnik Stern | Printable Version | Comments (0)

Pre-shot content generates between $2.4 billion and $3.5 billion each year, according to previously confidential estimates by Getty Images executives. This information became public on Tuesday, when the still-public company filed an 8-K form with the U.S. Securities and Exchange Commission.

Days before the planned Getty merger with private-equity firm Hellman & Friedman, a corporate memo offers the industry leader's perspective of the current competitive landscape. Company management places total visual-content revenues at $7 billion to $8 billion per year, with original commissioned work generating 61%.

The remaining 39% in pre-shot content comprise editorial, creative and other images. Getty views itself as well positioned for future growth for two reasons: First, creative imagery continues to account for about three quarters of all licensing transactions and a similar percentage of revenues. Second, its ownership of iStockphoto places Getty at the top of both microstock and traditional creative-image segments.

Getty sees growth in Web-based and microstock imagery as the two prevailing market trends. While both are lower in technical requirements and individual license costs, Getty sees promise in the overall volume. The company says microstock businesses license between 10 and 20 times the amount of images handled by traditional agencies. Online image use is growing at similarly impressive rates, and Getty research says that at least half of this business is new.

Getty's 2007 revenues were $858 million, which the company thinks is triple the business of its nearest competitor. "Competitors-most of whom follow Getty Images' lead on industry trends and market practices-include Corbis, The Associated Press, Jupiterimages, Reuters Pictures, Amana and a dispersed group of region specific specialists, small agencies and distributors," states the Getty memo.

Copyright © 2008 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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