Getty Images Boasts Web-License Works

Posted on 11/16/2007 by Julia Dudnik Stern | Printable Version | Comments (0)



Getty Images issued a statement Nov. 16 claiming "early success" of its recently introduced, controversial Web-use image license.

Nick Evans-Lombe, executive vice president of imagery, products and services, said that customer demand for the $49 product is very strong, despite its relatively short existence. Getty Images introduced the license in August and has been defending the move ever since.

Photographer organizations representing over 50,000 artists from the U.S., Canada, New Zealand, South Africa, Sweden and the U.K. mounted a public-relations campaign opposing the low-cost license. Led by the Stock Artists Alliance, the groups expressed concerns including loss of digital-licensing revenue, devaluation of rights-managed stock, general erosion of image prices, reduced photographer returns and reduced recovery values for infringing images.

Though Getty Images reacted to some of these concerns by adjusting the license, the SAA and supporting groups were still calling for the complete removal of rights-managed at rights-ready imagery from the new license at the end of September.



At the same time, a number of investment analysts expressed negative opinions on the license, seeing it as a price reduction and adjusting ratings for the already-under-performing GYI. The stock has remained on the downward trend since then.

Evans-Lombe said that the Web-use license is bringing in new customers, who are also licensing additional images across other collections and usage categories. Although he did not offer specifics, Evans-Lombe said the new customers number in the thousands.

In a recent conference call, Getty Images CEO Jonathan Klein said that in the first month of offering the $49 Web product, the volume of its sales equaled Web-use sales of the entire fourth quarter of 2006. Though the earnings report discussed during the same conference call was far from stellar, Getty Images' stock is now showing signs of stabilizing.

There is also a change of tenor on the photographer-relations front. Friday's announcement discussed additional refinements to the licensing schema. Emerging from talks with the photographer community, these refinements address concerns of licensing duration, distribution and usage for the rights-ready and rights-managed products, said Getty director of photographer relations Paul Banwell.

Under the revised license, image use for rights-protected categories has been restricted to three months. In addition, size has been reduced to 180 pixels by 150 pixels for the two rights-ready and rights-managed images. Their distribution was also limited to one page on one Web site and a small-circulation single email. Royalty-free images remain at a larger size and can be used in perpetuity.

SAA executive director Betsy Reid characterized this outcome as resolving many of the concerns raised by the coalition. Reid added that the revised product "expands new licensing opportunities for a growing market for very small digital uses where this type of product makes sense."



Copyright © 2007 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

Comments

Be the first to comment below.

Post Comment

Please log in or create an account to post comments.

Stay Connected

Sign up to receive email notification when new stories are posted.

Follow Us

Free Stuff

Stock Photo Pricing: The Future
In the last two years I have written a lot about stock photo pricing and its downward slide. If you have time over the holidays you may want to review some of these stories as you plan your strategy ...
Read More
Future Of Stock Photography
If you’re a photographer that counts on the licensing of stock images to provide a portion of your annual income the following are a few stories you should read. In the past decade stock photography ...
Read More
Blockchain Stories
The opening session at this year’s CEPIC Congress in Berlin on May 30, 2018 is entitled “Can Blockchain be applied to the Photo Industry?” For those who would like to know more about the existing blo...
Read More
2017 Stories Worth Reviewing
The following are links to some 2017 and early 2018 stories that might be worth reviewing as we move into the new year.
Read More
Stories Related To Stock Photo Pricing
The following are links to stories that deal with stock photo pricing trends. Probably the biggest problem the industry has faced in recent years has been the steady decline in prices for the use of ...
Read More
Stock Photo Prices: The Future
This story is FREE. Feel free to pass it along to anyone interested in licensing their work as stock photography. On October 23rd at the DMLA 2017 Conference in New York there will be a panel discuss...
Read More
Important Stock Photo Industry Issues
Here are links to recent stories that deal with three major issues for the stock photo industry – Revenue Growth Potential, Setting Bottom Line On Pricing and Future Production Sources.
Read More
Recent Stories – Summer 2016
If you’ve been shooting all summer and haven’t had time to keep up with your reading here are links to a few stories you might want to check out as we move into the fall. To begin, be sure to complet...
Read More
Corbis Acquisition by VCG/Getty Images
This story provides links to several stories that relate to the Visual China Group (VCG) acquisition of Corbis and the role Getty Images has been assigned in the transfer of Corbis assets to the Gett...
Read More
Finding The Right Image
Many think search will be solved with better Metadata. While metadata is important, there are limits to how far it can take the customer toward finding the right piece of content. This story provides...
Read More

More from Free Stuff