SI Pictures Boards A Sinking Ship
(Continued after the Jump)
It seems that SI's archive has been languishing a bit, so the geniuses that thought they could monetize the collection are now looking to Getty and their rapidly diminishing interest in editorial/creative (as reported here - Fool's Gold - Getty Images' Future, 4/1/08) to somehow save them. Let's see, Captain Smith, where would you like those deck chairs again? Just substitute deck chairs for server blades full of sports imagery, and you begin to get the point.
Truth be told, the deal, inked in early March, was held off because they wanted to spring the H&F purchase announcement first, without causing a ripple in the sale of GYI. Interestingly enough, this is more about protecting the imagery (supposedly) from others, BUT, Getty has some major sales goals they have to meet. Don't think though, that Getty won't intersperse the search results with their own wholey owned content, and maybe, just possibly, goose the results to "just meet" their sales objectives/requirements. I wouldn't put it past them, that's for sure.
Interestingly enough, Getty has in their deal with the sports leagues rights that allows them - with certain restrictions - to sell their sports imagery for commercial/advertising purposes. Why? Because the leagues get a cut. And, this was one of the things that Getty was holding over the SI folks' heads - that SI could only sell editorially, but through Getty, those images - at-least of major league sporting events (which GYI has contracts with) - could be sold in a commercial fashion, for big big dollars.
It's amazing that SI Pictures would take a premium brand and allow it to be dilluted by Getty's flacid pricing structure. Anyone who needs sports imagery of the caliber of SI's already knew where to get it.
Good Luck SI, you'll need it. Remember, when push comes to shove, and there's a shortage of lifeboats, it's women and children first.
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2 comments:
The author clearly misses how powerful Getty's editorial brand is. That ship is anything but sinking - in fact in 2007 editorial revenue GREW BY 38%. Getty Entertainment and Sports photographers are paid to attend most events they photograph - which means they make money both upfront and on resales (as inevitably, as the hired photographer, they are given preferred access, which makes for more compelling imagery, which makes for hire image resales.)
Sorry to burst your bubble but Getty Editorial is probably the most powerful editorial agency in the world! Why else would AP make such a concerted effort to catch up to Getty's entertainment brand? Because there is SO much money to be made, even still, in the editorial field. AP sees it. Too bad the author misses it.
I'm confused... It seems that nobody cares about photography and archive. I' m absolute sure that a photographer has to be an entrepeneur and has to take care of his own archive.
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