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Author Topic: Confirmed: VCG will acquire Corbis  (Read 11156 times)

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« on: January 22, 2016, 06:13 »
+3
VCG (Visual China Group), a public stock photo agency, and also the sole distributor of Getty Images in mainland China, will acquire Corbis

http://www.tukusheying.com/info/es_t_20160122063839.html

the file just disclosed in stock exchange website and I made the screen snapshot as shown in above link


« Reply #1 on: January 22, 2016, 06:28 »
0
Interesting!

« Reply #2 on: January 22, 2016, 09:37 »
0
Here's a link to the official Corbis press release. It will be interesting to see what the new owners do with Veer.
http://corporate.corbis.com/uk/news/press-releases/2016/affiliate-of-visual-china-group-acquires-assets-of-corbis-images/

« Reply #3 on: January 22, 2016, 11:23 »
0
That didn't take long. Everyone got the "Corbis, VCG, Getty Images & You!" email?

Fun

The FAQ link doesn't work, so good start

« Reply #4 on: January 22, 2016, 11:27 »
0
Just got an email:

Quote
Corbis, VCG, Getty Images & You!                                                                                               
Today Corbis is announcing the sale of the Corbis Images (excluding Splash), Corbis Motion, and Veer licensing businesses to Unity Glory International, an affiliate of the Visual China Group (VCG), a leading Chinese visual communications and new media business.

 In connection with this transaction, VCG is excited to announce the expansion of its longstanding partnership with Getty Images, and, following a transition period (which well explain in more detail), Getty Images will become the exclusive distributor of Corbis content outside China.

  As a valued contributor, we want to be sure you understand what these announcements mean for you and your content and the opportunities they represent for you going forward. 

 As part of this transaction, your existing Corbis agreements have transferred to VCG, however in practical terms nothing changes for the time being. The Corbis sites, licensing and royalties processes will continue to operate as they do today.

 Over the coming months, select content from the Corbis collections will be identified and invitations will be extended to you for migration of those files to Getty Images. For those of you whose content is selected who do not currently work directly with Getty Images, you will be offered a direct contract that will apply to migrated content and any new submissions you choose to make going forward to Getty Images. If your content is selected and you are already contracted to Getty Images, you will be offered an assignment letter to move content selected for migration to your existing Getty Images agreement.

 During this transition period, all content will continue to be available through Corbis, and, as its migrated, content will also become available through Getty Images. Content that is not migrated to Getty Images will either continue to be represented by VCG, or distribution rights will be returned to contributors.

 Were very excited to represent your great content and look forward to expanding its reach through the unparalleled global sales and distribution network of Getty Images to almost one million customers in nearly 200 countries.

 Well be sharing more specifics on the migration process over the coming weeks, but in the meantime please refer to our FAQ for additional details.

The FAQ link in the email doesn't work either. Nice.

« Reply #5 on: January 22, 2016, 11:29 »
0
Is anyone as nervous about this as I am? I'm thinking of deleting my images and my account. I mean China?!?

« Reply #6 on: January 22, 2016, 11:30 »
+3
Looks like Getty is going to set up a new collection for Corbis content. I wonder what is going to happen to the stuff on Veer specifically? I can only think they could offer it on IStock/ Thinkstock given the micro price point, so it will soon be time to delete my Veer portfolio. I am sure they will be paying out as a partner site to VGC i.e. paying even less than standard IS/ TS rates


« Reply #8 on: January 22, 2016, 11:31 »
+20
Is anyone as nervous about this as I am? I'm thinking of deleting my images and my account. I mean China?!?
"China" is the least of my worries. "Getty" is of more concern

« Reply #9 on: January 22, 2016, 11:49 »
+4
I am deleting right now. Veer is pathetic pay anyway,

w7lwi

  • Those that don't stand up to evil enable evil.
« Reply #10 on: January 22, 2016, 12:17 »
0
I sent a request to Veer at the end of last year to delete my account and remove all images.  I received a boiler plate message back that my request had been received.  To date, nothing seems to have changed.  My account is still open and all images still up.  Is there something else I should do?

« Reply #11 on: January 22, 2016, 13:12 »
0
Guys,

I haven't received any payment this year, I didn't reach the payout probably.

Are our contracts already under a Chinese agreement or under Getty? I don't understand.

The email says "As part of this transaction, your existing Corbis agreements have transferred to VCG, however in practical terms nothing changes for the time being. 


« Reply #12 on: January 22, 2016, 13:25 »
0
I thought this meant our Veer content would go to Getty.  They said in the Istock announcement that Getty would be distributing the Corbis content outside of China.  I was hoping this was my ticket onto the Getty site.  You think not?

« Reply #13 on: January 22, 2016, 13:54 »
+1
I bet our microstock images end up on istock or thinkstock.  I removed all my best images from istock but it seems pointless as they will probably end up getting them from some other site.  Think I will wait and see what happens.

« Reply #14 on: January 22, 2016, 14:47 »
+2
Is anyone as nervous about this as I am? I'm thinking of deleting my images and my account. I mean China?!?
"China" is the least of my worries. "Getty" is of more concern

The microstock market is heading Getty/SS/Adobe control?  ???

« Reply #15 on: January 22, 2016, 15:14 »
+4
Looks as if I will be deleting my content yet again to keep it off IS/Getty
I think that will make three.

« Reply #16 on: January 22, 2016, 15:19 »
+2
Is anyone as nervous about this as I am? I'm thinking of deleting my images and my account. I mean China?!?
"China" is the least of my worries. "Getty" is of more concern

The microstock market is heading Getty/SS/Adobe control?  ???

The whole stock market, macro too.



PaulieWalnuts

  • We Have Exciting News For You
« Reply #18 on: January 22, 2016, 16:34 »
+7
Sure does give a good look into his mind about how he views the business

« Reply #19 on: January 22, 2016, 16:45 »
0
How will Adobe and Shutterstock react?

« Reply #20 on: January 22, 2016, 16:49 »
+5
It's not news that Jonathan Klein is a miserable [delete lots of bad words & thoughts], but this tweet about the Corbis acquisition is just hateful:

https://twitter.com/JonathanDKlein/status/690559911252471808

"Almost 21 years but got it. Lovely to get the milk, the cream, cheese, yoghurt and the meat without buying the cow."

This guy makes me sick  >:( Disgusting!

« Reply #21 on: January 22, 2016, 17:03 »
+3
How will Adobe and Shutterstock react?
I doubt it will make much difference to them.  They were competing with Veer and they are down in the low earners in the poll here.

« Reply #22 on: January 22, 2016, 17:08 »
+3
How will Adobe and Shutterstock react?

The historical stuff is a great collection, but in terms of day-to-day earnings, I'm betting it's not that big a deal. SS had been pursuing Getty's corporate clients for a while, and I don't think this will make any difference to that.

Adobe is so far behind both Getty and SS that their card is the integration with CC, which I'm guessing won't pan out to be a game changer for them. So they have 45 million images and can't really compete with either Getty or SS before the Corbis acquisition.

« Reply #23 on: January 22, 2016, 20:59 »
0
What a hassle, what happens with all the pp ?

http://www.microstockgroup.com/general-stock-discussion/a-list-of-partner-programs/


If i may quote JAS:

Some agencies (like Veer) pay you a fixed amount per download regardless of what the partner charged the buyer, which is sometimes a lot more than the price paid via Veer. Veer also won't give contributors a list of the companies they partner with or let contributors opt out of partner sales  (why I left Veer. IMO it's a terrible arrangement for contributors).

Do you get all pp images off after leaving?

btw .. is there a list of partner programms of the partners of partners of partners etc .. yes how funny :(
     

« Reply #24 on: January 22, 2016, 22:41 »
+3
Another photographer who has friends with Corbis said there were a lot of pink slips given out today - everyone but the execs. Don't have anything in print - asked the Seattle Times and they said they haven't been able to find any details yet. If anyone want to talk with them, they'd love to hear from someone.


 

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