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May 26, 2012, 02:16

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Topic: Interesting article on Getty/iStock in the Times

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designalldone

« on: October 17, 2009, 06:23 »

#link

Interesting piece in the Times yesterday - an interview with Getty founder Jonathan Klein (article scanned below).

It also mentions iStocks huge increase in revenue since first being bought by Getty:
"In December 2005, before we bought the company behind it, the site did $600,000 of business. Yesterday it did $850,000 in one day."


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sjlocke

« Reply #1 on: October 17, 2009, 07:10 »

#link

That is an interesting quote.


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leaf

Premium Member

« Reply #2 on: October 17, 2009, 07:47 »

#link

thanks for sharing.


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gostwyck

« Reply #3 on: October 17, 2009, 07:54 »

#link

Here's a link to the article on-line;

http://business.timesonline.co.uk/tol/business/industry_sectors/media/article6877227.ece

If I remember correctly Getty's turnover in 2007 was something like $800M and Istock's contribution to that was microscopic. From Klein's figure of $850K Istock sales in one day it appears that IS are now on target for $250M annual sales. At that rate of growth IS will be more than 50% of Getty before too long __ if they're not already. We live in fast-moving times.


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leaf

Premium Member

« Reply #4 on: October 17, 2009, 08:17 »

#link

Quote from: gostwyck on October 17, 2009, 07:54

He said 'yesterday' though so it was probably just a recent high day - or maybe even the day before, but not the average. The weekends would probably be 20% of that figure. But still yeah - very high.


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gostwyck

« Reply #5 on: October 17, 2009, 08:40 »

#link

Some months ago, when multimedia.de's chart had all the figures, Istock were averaging about 80k licenses sold per day __ that would gernerate about $500K. Since then IS have undoubtedly grown and this is probably the peak month of the year. I'd bet that $850K figure will be an average number within a few months time.


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sharpshot

« Reply #6 on: October 17, 2009, 09:15 »

#link

The last bit was interesting. I just hope they find the right buyer.

Quote

“Hellman tell me that their average investment is for three-and-a-half years, but in a recession it could take longer,” says Mr Klein. “We’ll sell it or float it, and it depends on the strategies of various media companies, and whether they see imaging as an interesting business”


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