Getty launches $49 across-the-board price for web use
Getty Images has announced it will soon make available images from all of its editorial and creative collections including rights-managed, rights-ready, and royalty-free, for any web-use for a flat fee of $49.00. The company says the move is in response to the rapidly expanding market for online image use. The $49.00 price covers the license of a 500KB, 72dpi image file. Specific rights granted will vary depending on the licensing model applied to the image.
Getty cites the findings of a market research study performed by Veronis Suhler Stevenson (VSS,) a private equity firm that specializes in the media, communications, information and education industries in Europe and North America, as the rationale for this maneuver. According to the study, new media advertising will grow at a rate of 17.4% per year over the next four years while traditional advertising will grow at only 3.2% per year over that time.
Assuming the VSS report proves accurate, the low price for web-use will likely serve several purposes for Getty. In such an expanding market, the volume of additional new business should more than compensate for the reduction in price. Further, it will keep all those new media users buying from Getty. At least we can infer that line of thinking from CEO Jonathan Klein’s comments: “Customers who once considered alternative sources of imagery for use in their online media and advertising campaigns, no longer need to sacrifice the quality of imagery. We anticipate that customers will enthusiastically embrace this product.” On can assume Klein is hoping they’ll also stick with Getty for their traditional, pricier image needs as well.
We have heard this kind of good news, bad news approach in the stock photo industry before. In broader terms, the good news is that more and more images are being used in the market; the bad news, prices are going down. At this point, most photographers have yet to experience the benefit of higher volume but have clearly felt the pain of lower average prices.
Comments
Post a Comment