The Big Quarterly Report:

August 2, 2007 by pmelcher.

Getty Images released its second quarter revenue. Not too good. A few 100 people will pay for that by loosing there jobs. Apparently traditional RM is hurting due to, according to Jonathan Klein, a move toward text based advertising. This opens the door for everyone else to post declining revenues even if the reasons are elsewhere. Think Corbis. Besides continued increase in Microstock revenues, without admitting cannibalization openly, an a growth in editorial once again fueled by acquisitions ( mediavast) there are a couple of items of importance:

- The push towards B2C. Probably under pressure from shareholders not understanding why Getty does not capitalize on the successes of Flickr and other UGC based platform, Jonathan Klein warns of an upcoming launch. (think http://www.viewimages.com/).

- The push towards music licensing. Will we soon see the launch of a micromusic website in the spirit of Istockphoto? Dirt cheap music clips for your sideshows and other web based multimedia.

- The push towards video. Probably the most important news of this report: “In fact, soon all of our photographers will be covering news and entertainment with video cameras and will also be wired for sound.” said Klein. Getty is going all Mutlimedia with probably the intend of capture stills from video if necessary. That is very interesting news and might announce a major shift in the editorial market.

Posted in photojournalism, flickr, editorial, corbis, Royalty free, getty, Microstock | Print | 1 Comment »