Thought Equity Signs Exclusive Deal With MGM

Posted on 5/29/2008 by Julia Dudnik Stern | Printable Version | Comments (0)

Denver-based Thought Equity Motion has become the exclusive global-licensing agent for HD stock footage from select films in the Metro-Goldwyn-Mayer Studios library.

Citing increasing demand for footage from new-media and traditional entertainment professionals, MGM Worldwide Television co-president Jim Packer says MGM has entered the stock-footage business. "Thought Equity offers superior technology platforms and innovative strategies that will create new revenue streams for our operation. They are reshaping the industry with applications that get producers what they want, when they want it," he said.

In fact, Thought Equity's library and licensing-rights capabilities rival that of more established industry leaders. In only five years, it has cemented its position in the fastest-growing segment of stock licensing. Whereas the Big Three of still imagery remain the same, Thought Equity may well lead the motion market segment.

According to Thought Equity communications manager Kristi Kinney, the company is already the world's largest supplier of film and video content. "We currently have the rights to license over 5 million hours of footage with a production value of over $25 billion," she said. In-house research makes Kinney confident that Thought Equity offers the largest selection of clips online, including the largest number of high-definition clips. During 2007 and 2008, Thought Equity supplied content to 3,000 television and broadband commercials and over 4,000 corporate and entertainment productions.

The MGM collection, which is available for licensing for the first time, brings more exclusive content to Thought Equity's library. Established in 1924, MGM has amassed over 200 Academy Awards, including 15 Best Picture Oscars. Big-screen content is complemented by a vast collection of television series. The collection allows Thought Equity to offer distinctive stock never available before.

In addition to MGM, Thought Equity represents other major media companies, such as Paramount Pictures, NBC News, HBO, The National Geographic, Sony Pictures. " represents the majority of the licensable content in Hollywood," said company founder and CEO Kevin Schaff.

Thought Equity is well positioned to leverage an exploding market segment. Last year's estimates by the Association of Commercial Stock Image Licensors place stock-footage licensing revenues at $282 million. Kinney contends that the market is even larger: "Our internal analysis estimates the current global market at $500 million."

Filling the rising demand for stock footage -- mainly short clips, film and video used in TV commercials and programming, movies and corporate projects -- is only part of Thought Equity's business. Kinney says the company serves a much broader spectrum of market demands, supplying story illustrations by replacing still imagery with short-form footage in online or other interactive publications. Other business lines include clip rights, or licensing the use of iconic scenes and events, and distribution of pre-existing long-format content programming.

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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