Author Topic: Seattle Times article about Getty Images (Read 7501 times)

Jo Ann Snover · « **on:** December 01, 2019, 14:02 »

https://www.seattletimes.com/business/technology/its-crunchtime-for-seattle-based-photo-giant-getty-images-and-for-photographers/

Mimi the Cat · « **Reply #1 on:** December 01, 2019, 14:34 »

Thanks for the article Jo Ann its a depressing read.

Basically the same old story on how agencies continue to screw over contributors and
most contributors appear happy to allow it to happen.

everest · « **Reply #2 on:** December 02, 2019, 02:46 »

Quote from: Jo Ann Snover on December 01, 2019, 14:02

https://www.seattletimes.com/business/technology/its-crunchtime-for-seattle-based-photo-giant-getty-images-and-for-photographers/

A good picture of what Getty was, is and you can glanze the direction it is heading..... Sad but reality is never pretty

stockastic · « **Reply #3 on:** December 02, 2019, 10:30 »

Some hot shot takeover artists hidimg behind a lot of cliches about benefits to customers. To pay off the debt and still enrich themselves, all they could do was set all the dials to maximize short term profits and abandon any ideas of a sustainable business.

Madoo · « **Reply #4 on:** December 02, 2019, 12:24 »

Sad but true.
Thank you very much Jo Ann for the article.

Uncle Pete · « **Reply #5 on:** December 02, 2019, 15:35 »

Quote from: everest on December 02, 2019, 02:46

Quote from: Jo Ann Snover on December 01, 2019, 14:02
https://www.seattletimes.com/business/technology/its-crunchtime-for-seattle-based-photo-giant-getty-images-and-for-photographers/

A good picture of what Getty was, is and you can glanze the direction it is heading..... Sad but reality is never pretty

Thanks Jo Ann

There's reality for us in that too:

Peters, while declining to discuss average photo prices, acknowledges that with more competition and a larger base of photographers working today, the stream of total royalty payments has “become more diffused, and so certain individuals have seen their individual pieces going down.”

Which we have been calling, the slice of the pie keeps getting smaller.

As technology and competition continue to drive down the costs of making and distributing images, customers will expect to pay even less. To compensate, Getty and its rivals have little choice but to keep boosting volumes while keeping costs down.

Industry experts say that means Getty Images and its rivals will continue pushing down the prices paid to stock photographers.

Not getting better, but will probably get worse.

Getty even has an initiative to algorithmically adjust clients’ image searches so that historically underrepresented stock subjects — such as “female physicians” — turn up more often.

If Getty is doing this, you can be sure, the rest are too. That would explain some of the search inconsistencies as chosen keywords and images are forced forward.

Edit for additional: "“Moving into 2020, we will continue to focus our efforts on producing and distributing the best visual content, and in turn allowing our customers to engage with their audiences in an authentic way while also saving them time and money and reducing their risks. Of course, we need to do all of this in a way that leverages the developments in Artificial Intelligence and Machine Learning, continues to embrace mobile, recognizes the increasing importance of video, recognizes changes in customer tools and workflows and in a way that allows businesses of all sizes to take advantage of the power of imagery.”" Craig Peters

stockastic · « **Reply #6 on:** December 02, 2019, 20:29 »

“Moving into 2020, we will continue to focus our efforts on producing and distributing the best visual content, and in turn allowing our customers to engage with their audiences in an authentic way while also saving them time and money and reducing their risks. Of course, we need to do all of this in a way that leverages the developments in Artificial Intelligence and Machine Learning, continues to embrace mobile, recognizes the increasing importance of video, recognizes changes in customer tools and workflows and in a way that allows businesses of all sizes to take advantage of the power of imagery.”

A breathtaking display of vacuous, disingenuous and totally insincere CorporateSpeak. In this, Getty truly is an industry leader.

pancaketom · « **Reply #7 on:** December 02, 2019, 22:02 »

They also didn't mention how Getty has pretty much always been ahead of the curve in taking the largest percent of every sale for themselves.

wds · « **Reply #8 on:** December 02, 2019, 22:45 »

Apparently the rate of video content growth is outstripping the "increasing importance of video"

Uncle Pete · « **Reply #9 on:** December 17, 2019, 11:32 »

Quote from: pancaketom on December 02, 2019, 22:02

They also didn't mention how Getty has pretty much always been ahead of the curve in taking the largest percent of every sale for themselves.

Did everyone else get the email today, offering 25% off the subscription packages? Does that mean a cut or they will make less, but give us the earned commissions?

Offer expires December 31, 2019 at 11:59 pm MDT. Applies to new annual subscription purchases only. Discount will not apply to subsequent periods where auto renew is enabled. May be redeemed only once and cannot be combined with other discounts/offers. Qualifying conditions, such as minimum purchase amounts, may apply. Discounts may be forfeited for any reason at iStock's sole discretion. You are solely responsible for any and all applicable taxes and for complying with your internal company policies, including those related to purchase incentives, and for complying with all applicable laws. iStock has the right to make changes to this offer at any time.

ShadySue · « **Reply #10 on:** December 17, 2019, 12:26 »

Quote from: Uncle Pete on December 17, 2019, 11:32

Quote from: pancaketom on December 02, 2019, 22:02
They also didn't mention how Getty has pretty much always been ahead of the curve in taking the largest percent of every sale for themselves.

Did everyone else get the email today, offering 25% off the subscription packages? Does that mean a cut or they will make less, but give us the earned commissions?

I can't imagine why it would be different from every other commission they offer, the cut is shared between both them and us. So if a file used to cost e.g. 40c, it will now cost 30c and that will be divvied up according to our commission rate.

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Author Topic: Seattle Times article about Getty Images (Read 7501 times)

Jo Ann Snover

Mimi the Cat

everest

stockastic

Madoo

Uncle Pete

stockastic

pancaketom

wds

Uncle Pete

ShadySue

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