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Author Topic: Getty Images Acquires Photolibrary  (Read 9081 times)

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lagereek

« Reply #1 on: May 04, 2011, 09:11 »
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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.
« Last Edit: May 04, 2011, 09:16 by lagereek »

« Reply #2 on: May 04, 2011, 09:13 »
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I wonder why??

It says if you read the article.

Quote
it's looking to expand its global reach, benefiting from Photolibrary's presence in India, the Middle East, and Southeast Asia.

lagereek

« Reply #3 on: May 04, 2011, 09:16 »
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I wonder why??

It says if you read the article.

Quote
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.

« Reply #4 on: May 04, 2011, 09:46 »
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Prepare for more commission cuts to cover the cost of this latest purchase.

« Reply #5 on: May 04, 2011, 09:49 »
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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 ?

« Reply #6 on: May 04, 2011, 10:08 »
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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...

« Reply #7 on: May 04, 2011, 10:31 »
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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.

« Reply #8 on: May 04, 2011, 10:32 »
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Have a look at StockPhotoTalk's take 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.

lagereek

« Reply #9 on: May 04, 2011, 10:41 »
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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!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

lisafx

« Reply #10 on: May 04, 2011, 11:10 »
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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?

« Reply #11 on: May 04, 2011, 11:21 »
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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?
« Last Edit: May 04, 2011, 11:24 by ann »

« Reply #12 on: May 04, 2011, 11:22 »
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Fear, Uncertainty, Doubt!
No doubt.
Or:
The sound that accompanies the news that Getty have acquired yet another agency!

« Reply #13 on: May 04, 2011, 11:43 »
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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

lagereek

« Reply #14 on: May 04, 2011, 11:49 »
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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.

« Reply #15 on: May 04, 2011, 11:58 »
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Have a look at StockPhotoTalk's take 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/

« Reply #16 on: May 04, 2011, 12:03 »
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Is Photolibrary the same company that Zoonar is partnered with . . .  I am getting all confused.


lisafx

« Reply #17 on: May 04, 2011, 12:08 »
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Thanks for the explanations on FUD.  :)   Makes sense that's what's going on. 

mlwinphoto

« Reply #18 on: May 04, 2011, 13:22 »
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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. 

RT


« Reply #19 on: May 04, 2011, 13:40 »
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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?

microstockphoto.co.uk

« Reply #20 on: May 04, 2011, 14:28 »
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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?

« Reply #21 on: May 04, 2011, 15:22 »
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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/

You could contact Michael Krabs in that thread as he seems to work for/with Zoonar. 

« Reply #22 on: May 04, 2011, 16:44 »
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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?

RT


« Reply #23 on: May 04, 2011, 17:19 »
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. Double post...
« Last Edit: May 04, 2011, 17:22 by RT »

RT


« Reply #24 on: May 04, 2011, 17:20 »
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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.
« Last Edit: May 04, 2011, 17:23 by RT »


 

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