Getty Images - Moving Forward

Getty Images (NYSE: GYI) is a lot of things. Right now, they are on the chopping block, having just left the auction block, with, as the AP reports (Regulators OK Getty Images' $2.1B Buyout, 3/18/08), "Antitrust regulators have cleared private equity firm Hellman & Friedman LLC's $2.1 billion purchase of Getty Images Inc., a federal agency said Tuesday."

The company that has acquired them, Hellman & Friedman, is known for stripping down the company to increase margins on the profitable divisions, and killing off those that are not, and then dumping it - yes, for a profit. They don't do this for all their aquisitions, of course. But, they are not likely to remain in the photography business as a purveyor of images. So, what's going to go?

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1) The Getty wire service is the least profitable division, and I think that, without much of the re-sales that they get, that figure might even be worse. It takes a great deal of staffing and often a shot-in-the-dark mentality when assigning coverage. In DC for example, there are many many events, and it's very had to know just what to cover. I don't envy the editors who have to make that decision. Note though, this challenge is not unique to Getty. AP, Reuters, and AFP all face similar challenges. Bloomberg is, to a small degree, immune from this, only because they are a essentially a niche wire service, covering events from a financial aspect. They are not trying to be all things to all people. Yet, Getty's wire service will likely go first.

2) The Getty editorial department. I've spoken with a few folks smarter than me on this, and there seems to be some agreement here, that this department too will be trimmed to within an inch of it's life, and may just get cut altogether. The reason? The margins are just not where they should be.

What does this leave? Oh, of course, iStockphoto, and their commercial/corporate division. Getty actually does have the potential to generate huge sums from the commercial division with all the advertising sales, exclusivity up-charges, and so forth. In addition, most anytime you can get an assignment out of someone, that's going to be fairly profitable, especially with the unfair percentages they are paying out.

In addition, Getty's sports contracts for the leagues will continue to bring them money, but more as an arm of the leagues as a distribution channel. Same for entertainment clients, more in LA and NYC than anywhere else, where event promoters want a distribution channel there as well that have the eyeballs of the entertainment news media to get pickup from their events. But, wait, isn't that editorial? Nope. When a corporate client pays you $5k to cover and event that has a few celebrities in attendance, and then you put those photos up from the arrivals area with a step-and-repeat backdrop with the clients' logo, or you are the "inside exclusive photographer" getting great photos that will look good for the commercial client, and these happen to appear in editorial coverage, that's commercial/corporate, not editorial!

Did you catch that above, I said "distribution channel" twice, for two distinct divisions? That's right friends, Getty will become a distribution channel for corporate America more so now than ever before. These are, after all, extremely profitable. Sure, they have some great archive materials, from acquired collections, but that, along with good margins elsewhere will make Getty attractive as a private acquisition.

By who? Probably Corbis.

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Speedlinks 03/18/07

I know I've been absent, but I'll have a post or two in the next few days, so, my apologies! In the meantime, Check out the following speedlinks:

• Photoshop Disasters - This site is awesome because is shows you all the mistakes retouchers make, and breaks them down for you!
• Carolyn Wright, over at PhotoAttorney reports: - "an Illinois District Court held that Daniel Schrock of Dan Schrock Photography had no right to register his photographs of toys because they were unauthorized derivative works of the copyrights in the toys. Schrock was hired by Learning Curve Intern, Inc. ("LCI"), to shoot the toys for marketing uses. Alleging that LCI and others had used the photos beyond the license terms, Schrock sued for copyright infringement. But the Court agreed with the defendants that "without approval from the owner of the underlying [copyrighted] work, approval that was totally absent here, Schrock could not obtain a copyright over his derivative works."
• A little off topic, but worth a read: LEAKS: Best Buy's Internal Customer Profiling Document - "Consumerist is now in possession of an internal training document that teaches Best Buy blue shirts how to stereotype..."
• Scott Regan Photo Blog - Scott has a few nice words to say about my book, and also, some interesting images and insights about his own work that is worth a look.

Now go! Check 'em out, and come back soon!

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NSC - A brief note about the Photo Booth

While I will have more later on the highly successful NPPA Northern Short Course (NSC), if you had your photo taken in the photo booth, shoot me an e-mail and I will get you an invite to view and download the images that were made.

To prove you were there, you'll have to tell me what floor the booth was on. Please no hints in the comments!

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It pays to do your homework

It's 3am, Wednesday, and I am finishing the booking of air and travel for the next 10-day assignment which begins after I finish photographing Kermit the Frog on Capitol Hill, travels to Rochester NY, then Los Angeles, then Las Vegas, then Oakland, then Los Angeles, before returning to DC. It's an exhaustive trip, and we spent much of the day today in pre-production, packing bags to confirm to size and weight restrictions, and so forth.

In Los Angeles, the client is staying in the West Hollywod area, and gave us several recommendations for where to stay. Typically, we make these calls ourselves, however, we were surely amenable to their suggestions. One of them was the Hyatt West Hollywood. I checked Orbitz (graphic above), and it was $215 a night, for this 4-star "upscale" hotel.

I decided to have a look at Priceline, to see where hotels would fall price-wise.

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Remarkably, by selecting 4-star, and West Hollywood as my options, I found myself and my team booked into...the Hyatt West Hollywood for $106 a night! A significant savings, to be sure! Laughably, Orbitz's site says "lowest price guarantee", which is clearly not the case here.

In the end, this was over a 50% savings from booking with Orbitz.

I post this as a suggestion that, as the title of the entry says, "it pays to do your homework."

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Stock Video Footage - The Clinton/Obama Gaff

There's an interesting footnote to the well-known Hillary Clinton ad about experience, they titled "Children", but which is commonly referred to now as the "3am phone call commercial." The short description for the commercial on YouTube reads:

On March 4th, your vote will decide who will be in the White House to pick up the phone when it rings at 3 AM.

Yet, one of the children in the video is now all grown up, is 18, and is an Obama supporter.

Such is the risk of using stock imagery (whether video, or stills), securing contracts from appropriate models, and so forth. The Wonkette website reports about the (then) young girl:

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her family shopped her out as a little girl to be in non-POLITICS OF FEAR commercials, and that footage was then sold to the wire service Getty. That way, cheap Getty subscribers, like the Hillary Clinton campaign, could use the footage for anything -- including the POLITICS OF FEAR.

Clicking the image above gets you to the MSNBC footage from NBC's Today Show where they interview the now-voting-age young woman. Visiting the YouTube link above has other interviews of her by several other outlets.

I share this story with you not as a story critical of Getty (NYSE: GYI) per se, but as one that demonstrates the risk of using stock footage, where assignment work gives you guarantees and protections. We reported last November ( Black Friday? Try, "You Get What You Pay For" Friday! , 11/27/07) about the risks of RF, and, non-exclusive RM. In fact, with RF, for example, you have little to no control over the exclusivity of an image/video clip. With RM, you can at-least secure an exclusivity license for a term. The ASMP website has several examples of how this problem became a poke in the eye for dualing companies, (Rights Managed Stock vs Royalty Free Stock - Is RF the bargain they claim?), but it stands, thus, to reason that the better solution is the commissioning of original content that has A) never been seen, B) has an exclusivity term, and C) has been properly contracted so that the subjects in the images/video don't go destroying your message.

Since Getty should have had the releases on file, due-diligence on the part of the Clinton Campaign should have taken place where they not only paid additional fees for exclusivity of the footage for a period of time, but also contacted each of the people in their stock footage to ensure they were either a Clinton supporter, or would atleast remain mum about their position for the election.

Better yet, try not going the cheap route, and shoot the footage yourself!

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Making the Most Of Your Situation

Yesterday, while on a fairly straightforward assignment for a corporate client covering their day's conference, the day was scheduled to include a brief meet-and-greet with the legend Cal Ripkin. I'd originally intended to do this with on-camera strobe, but the client wanted me to bring a background. So, I selected my favorite - Thunder Grey. It wasn't until we were pulling the seamless from the car, that I got a thought:

"I am about to photograph a legendary baseball player infront of a seamless. What can I do to make this better?

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So I pulled out my Chimera 57 and set it up as a 7' softbox. We had it in the car from the day before, doing a magazine cover shoot, and hadn't offloaded the equipment because of the late wrap-time the night before, and a 6am call time for this shoot.

We moved through the group photos fairly quickly (at left is an example), and working with Cal was an illustration of the height of professionalism. I'd worked with him several times before, doing official portraits (lights and all) for other endeavors he's involved in, but never with a seamless, which I'd wanted to do for some time. People were immediately put at ease by him, and even though people knew they were coming to have their image made with him, and he knew he was there for that reason (before giving a presentation) he still asked each of them "would you take a picture with me?" which put each of those being photographed with him at ease, and facilitated the process in a very efficient manner. Further, I had just the light I wanted to have Cal in for him against the seamless.

In the end, I had an expedited shoot thanks to Cal's making it smooth as people entered and exited the portrait area, a very happy client, and, for me, a portrait that I'd wanted to make for some time.

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Taxes & Artists: Taking a Time & Services Deduction

Awhile back, we wrote about how you CAN'T donate your time and services and claim fair market value for such as a deduction (An Original Picasso for $50? That's what they say..., 2/10/07), and one potential solution that could get you a bit more credit for your donations, when you do (The Non-Profit Challenge, 11/19/07), but once again, there is a bill winding it's way through Congress that would allow:

"...artists to take a fair-market value deduction for works given to and retained by nonprofit institutions. The U.S. tax system accords unequal treatment to creators and collectors who donate tangible works (e.g., paintings or manuscripts) to museums, libraries, educational or other collecting institutions. A collector may take a tax deduction for the fair-market value of the work, but creators may deduct only their "basis" value—essentially the cost of materials such as paint and canvas."

If you can enter your name and address, and click the "send" button, in less than two minutes you can actually send an e-mail to your elected official that represents you, through this very cool system. Americans for the Arts has their Advocate for the Arts website and all you do is enter your address, and they will automatically route your sentiments to your Senator or Member! If you'd like to her Senator/Photographer Pat Leahy (and the bill's sponsor) in an NPR interview on the subject, click here.

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PhotoShelter & Flickr: Intertwined (For Your Benefit)

A brief note that now you can export from Flickr directly into PhotoShelter, and also export from PhotoShelter directly into Flickr with watermarks and all sorts of other protections, ensuring that you're not one of the many people who have had their work stolen from Flickr. This Wired story - PhotoShelter Protects Your Images From Would-Be Flickr Thieves (3/4/08), which reads, in part:

PhotoShelter takes a different approach to image sharing than Flickr, one that’s more suited to the professional photographer. Rather than simple image sharing, PhotoShelter offers the ability to overlay a personal watermark on all your photos, and web galleries can be password protected to limit access to clients...PhotoShelter is not a Flickr alternative, but is geared at the pro photographer looking to catalog, store and sell their images online. That said, some Flickr users who are getting more serious about their images and are considering a possible career shift might want to have a look at PhotoShelter.

And thanks to the new Flickr Importer, using both sites at the same time is a snap.

Thus, the innovations by PhotoShelter continue, with outside-the-box thinking. I wonder what will be next? Automated copyright registration solutions to further protect your images?

(Comments, if any, after the Jump)

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SEO - Wild Wild West or Reason & Logic?

Today (actually, yesterday, as you are reading this) I was traveling with my post-production person and my intern and we were crossing a state-line or two en-route back to DC after an assignment. About half-way back to the office, my post-production person asked "so, explain to me what SEO is." And the conversation started. And continued. And continued. You see, one of the things I am learning as I present at ASMP's Strictly Business 2, is that (at least it seems) more people want to learn how to get their websites to rank first on the search engines, than they want to get their contracts and business paperwork in order, if consultations and workshop attendance are any indicators, and my friend and colleague, Blake Discher has started a business aimed squarely at photographers, called GO-SEO, and he's doing (and has been) sold-out consults at SB2 and his Sunday presentations (Workshop D -- Is Your Website Doing All It Can to Get You Work?) there have been major hits.

We continued our conversation until we were almost back to the office, and we had barely scratched the surface of what SEO is. Don't know what it is yet? SEO stands for Search Engine Optimization, and as you can see from this link , there are far far to many "know-it-alls" out there who don't know anything about SEO. Test #1 - if your proposed SEO person tells you that Flash websites can't rank, hang up on them. Really. Do not pass go, do not collect $200, go directly to Loserville (and while you're there, say hi to JDK for me.) It really is the wild wild west, and people like Blake, and also the newly announced upgrades to liveBooks, bring reason and logic to the SEO world as it pertains to photographers.

From liveBooks' ability to read and auto-enter your metadata, to page-by-page statitics of Google Analytics, enhanced improvements to the auto-generated html pages, and so on, this upgrade is a significant enhancement to their already stellar offerings.

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For those of you who might think that I'm posting this because they're an advertiser, think again. No other solution gives you this much control over the back-end of your website and how it's seen by the search engines. I previously wrote It's Google's World, You're Just a Small Part of It, and after that, there were some interesting statistics I cited when liveBooks came on as an advertiser (Effective SEO - Please Welcome liveBooks, 2/20/08), that you might have missed.

So, let me direct you to an amazing report on how people look at web pages. This study, (F-Shaped Pattern For Reading Web Content), and the well-respected Jupiter Research reports that the majority of searchers - 62 percent of search engine users - click on results on the first page of search listings. Further, and this is where it gets critical - 90 percent of users never go beyond the first three pages. Where do you fall?

I want to reiterate something that may have gotten lost when I posted it in the comments - we all evolve over time as it pertains to websites and investments in them. I've looked at the underlying code of my friend Mark Finkenstaedt's website. Mark is an amazingly talented photographer - dare I say - more talented than me, and he's got great content there. I gave him a bit of help early on, encouraging him not only to have MarkFinkenstaedt.com, but also, since people naturally have a hard time with his last name, to get mfpix.com. He did that, and he's done the requisite keywords and descriptions metadata, but you can't find him in the first 100 pages of Google for any of his search terms. How do I know what his search terms are? I asked him. (and I asked him if I could put him up as the poster-child for poor SEO, and he said I could.) Further, despite his purchase of a gallery site for several hundred dollars, there's nearly zero coding that is search-engine friendly. What this translates into, is in fact, lost revenue. This is, because, on several searches I performed, the only one where he gets to Google's first page is when I search for his name. While that's good when people are searching for him, the real benefit of being findable on the search engines that the search (and finding of you) will result in revenue because he is findable. To make matters worse, Mark headed into the wasteland of the wild west and spent $500 a month for six months with a "placement agency" without a single assignment to show for it. "money wasted" he said, and canceled his efforts with them.

So many people will set a limit of $500 or $1k for their site, not realizing how much it costs them in lost assignments because they're not being found! I suspect that Mark will (or at least should be!) looking into the new liveBooks offering.

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Chase Giveth, And Giveth Some More!

Chase Jarvis has done something extraordinary - out of the blue, Chase is giving away a FREE trip and conference registration to SB2, airfare included! Check out WIN a FREE Trip To ASMP Strictly Business 2 - Chicago for the details.

If you're reading this blog, you should be there! (and you also will know that this is a repeat of my call for Atlanta!) The third of what will be a total of four stops (Chicago is the last stop, the destination for Chase) takes place starting this Friday, March 7, in Philadelphia. If you missed LA, I did a video report on it (here) and it has been widely reviewed as a success, with people traveling to LA from as far away as Alaska and Florida. So, this isn't something that you should be saying "oh, it's not near me, I'm not going." Planes, trains, or automobiles - it doesn't matter how you get there, because this is worth traveling for! It is going to be a remarkable weekend that will either get you started right, or bolster your existing business skills.

At this program you won't learn lighting, or video, or any other skill-set except how to run your business better and more efficiently. Beginners have come away with massive amounts of information and exceptional resources, while long-time photographers have taken away new tools and refined their current business practices to be better and more efficient in how they run their existing businesses.

Need to know about marketing? ASMP has brought in Leslie Burns Dell'Acqua to give you real tools to use to begin to market yourself, or to evolve how you marketing into the new era that is e-mail and the latest in marketing trends, helping you to reach your intended audience.

Blake Discher is also on hand to discuss the great unknown that is client negotiations and gets you thinking in the right direction about how to price your work so you stay in business.

Don't know how to store, archive, and deliver your work safely? ASMP's President, Judy Herrmann will set you straight about how to protect yourself from the inevitable hard drive crash, and deliver clients images when they want, and how they want them. Judy knows a great deal on the subject, and listening to her is like pouring pure octane into your gas tank - you're getting so much fast-burn information, every tidbit is valuable.

Further, and what is the starting point, Richard Kelly and Susan Carr start off with the basics, and make sure we're all on the same page, establishing baselines and foundations so we all are on the same bus together.

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Oh, and I'm also there talking about the critical tools for your photography business. It's like this blog, come to life, with a bit more restraint and carefully chosen words than you might find here, except the information I'll be presenting is, as it's titled, critical to your business, including copyright registration, dealing with contracts (both yours and the clients), and so forth. As I said before, if you're reading this blog, you should be there.

But it doesn't stop there, because that was just DAY ONE!

Ready for day 2? We spend the morning training you to negotiate better. We show you how we do it in several situations, role-playing, and then we break up into small groups, and guide these groups of 15 or so through the process, pausing and refining, and everyone else gets to chime in - it's all very interactive.

After lunch (included, on both days!), there are smaller workshops, delivering more details and specifics on Marketing to Move Your Business Forward; Business Workflow to Bring You Profits; Taking Control of Your Career; and Is Your Website Doing All It Can to Get You Work?. Don't worry though, they are repeated, so you can take two of the four.

Not enough? You're crazy then, but, well, ok - how about we have Joyce Tenneson give the keynote on Saturday night, before the free Digital Railroad reception that's included?

Register now, figure out how you'll get there next!

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