MicrostockGroup
Microstock Photography Forum - General => General Stock Discussion => Topic started by: bunhill on May 04, 2011, 07:58
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Getty Images to Buy Australian images company Photolibrary (http://amlawdaily.typepad.com/amlawdaily/2011/05/gettyphotolibrary.html)
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You mean H&F, are buying? you know, footing the bill? I wonder, are they just buying everything in site, just to show they are not out for count? or do they genuinely need the Aussi library?
Whats next? Exxon or Shell oil, Microsoft? US-Steel? or is that a bit out of reach.
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I wonder why??
It says if you read the article.
it's looking to expand its global reach, benefiting from Photolibrary's presence in India, the Middle East, and Southeast Asia.
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I wonder why??
It says if you read the article.
it's looking to expand its global reach, benefiting from Photolibrary's presence in India, the Middle East, and Southeast Asia.
Oh! OK, thought they already had that covered.
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Prepare for more commission cuts to cover the cost of this latest purchase.
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Prepare for more commission cuts to cover the cost of this latest purchase.
I am sure it is not meant to be, but can you see how that might seem like stirring or spreading FUD ?
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Next thing they'll buy Europe, kick us all out of our homes to make room for their "Agency" tenants, and charge us 80% income tax...
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Getty just offered to acquire my micro stock portfolio, my camera and lenses, tripod, studio strobes and backdrops, white cards, plus all my lens cleaning tissues for a package price of $1,000,000.
I said hell no, I just bought those tissues.
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Have a look at StockPhotoTalk's take (http://www.stockphototalk.com/phototalk/2011/05/getty-images-on-a-shopping-spree-acquires-picscout-photolibrary.html) on why H&F is doing this.
And as far as cuts in royalty rates, I don't expect it will come from IS royalties, but I would expect that contributors to the acquired library will see their 50% royalties cut in fairly short order. Getty has done that with so many other acquisitions in the past, I can't see it as FUD to suggest that their future actions will likely follow a similar path.
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yes but its all a put on show for the gallery, they borrow and borrow and soon they discovered somebody used a faked credit-card for the purchase and the claw-back will be ASTRONOMICAL!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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I can't see it as FUD to suggest that their future actions will likely follow a similar path.
Can someone enlighten me as to what FUD is?
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my best guesses:
Forecast (of) Usual Doom
Forecasting Usual Doom
Foresighted User Distrust ;)
I can't see it as FUD to suggest that their future actions will likely follow a similar path.
Can someone enlighten me as to what FUD is?
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Fear, Uncertainty, Doubt!
No doubt.
Or:
The sound that accompanies the news that Getty have acquired yet another agency!
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Fear, Uncertainty, Doubt!
No doubt.
Or:
The sound that accompanies the news that Getty have acquired yet another agency!
right. it is a common marketing scheme used by big companies and politicians.
http://en.wikipedia.org/wiki/Fear,_uncertainty_and_doubt (http://en.wikipedia.org/wiki/Fear,_uncertainty_and_doubt)
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Spoke to a friend of mine yesterday, he came from Image-Bank in 93, when they accquired Stones and Image-Bank, he is uploading to Micro but under a pseudo ofcourse.
Its embarassing actually but like me he got flamed when joining Micro some 5 years back and now today, all the RM guys are laughing their heads off. " see we told you so" "idiots", etc, etc. Nice isnt it.
Tell you what though, some big time RM guys are quitting, the money isnt there anymore, too much hassle for too little in return. Its going to be very interesting to see if they enforce this new contract on Image-Bank guys like Turner, Maisel, Glinn, Satterwhite, etc, to force them into TS.
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Have a look at StockPhotoTalk's take ([url]http://www.stockphototalk.com/phototalk/2011/05/getty-images-on-a-shopping-spree-acquires-picscout-photolibrary.html[/url]) on why H&F is doing this.
And as far as cuts in royalty rates, I don't expect it will come from IS royalties, but I would expect that contributors to the acquired library will see their 50% royalties cut in fairly short order. Getty has done that with so many other acquisitions in the past, I can't see it as FUD to suggest that their future actions will likely follow a similar path.
from their FAQ it appears they pay 40%. You also have to be image-exclusive with them (guess that means only at the image level, not all your work). I wonder how much that will change as they are folded into the Getty Family and images get prostituted across to ThinkStock.
http://www.photolibrary.com/contributors/photographers/ (http://www.photolibrary.com/contributors/photographers/)
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Is Photolibrary the same company that Zoonar is partnered with . . . I am getting all confused.
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Thanks for the explanations on FUD. :) Makes sense that's what's going on.
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Just completely ruined my day, and probably my month, if not my year, if not......
I've been with Index/Photolibrary for over 20 years and certainly didn't see this coming. Even though times are tough and RM sales haven't been what they used to be PL has always been good to me. I have serious doubts that will continue.
And yes, we are image exclusive and paid at a 40% commission rate.
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What will make things interesting is that some people have their microstock portfolio on sale via Photolibrary, myself included, which in short means that under the same Getty umbrella they'll be selling the same images at different price points, if anybody else is in this situation have you heard anything from the distributor regarding this?
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under the same Getty umbrella they'll be selling the same images at different price points
with main site, partner programs, credits, subs, special credit packs etc... isn't it happening all the time already?
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Is Photolibrary the same company that Zoonar is partnered with . . . I am getting all confused.
Could well be. http://www.microstockgroup.com/new-sites-general/zoonar-now-offers-photolibrary-as-partner/ (http://www.microstockgroup.com/new-sites-general/zoonar-now-offers-photolibrary-as-partner/)
You could contact Michael Krabs in that thread as he seems to work for/with Zoonar.
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What will make things interesting is that some people have their microstock portfolio on sale via Photolibrary, myself included, which in short means that under the same Getty umbrella they'll be selling the same images at different price points, if anybody else is in this situation have you heard anything from the distributor regarding this?
Keep up RT! You're not selling images you're selling licenses to use them and the terms of said licenses are different.
If PL are 'image exclusive' how come you have your microstock portfolio with them?
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. Double post...
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Keep up RT! You're not selling images you're selling licenses to use them and the terms of said licenses are different.
Haha ... were all entitled to a Freudian slip every now and again. What I meant was up until now that has never happened within the same agency.
If PL are 'image exclusive' how come you have your microstock portfolio with them?
Because the distributor negotiated a deal with them, as I've said many a time before the days of 'image exclusive' in Macro agencies are long gone.
You know my niche images, enter the keyword there and you'll see my shots on page 1.