Who- Ownership/Management/Employees
In 1993, Getty Images chairman Mark Getty and Chief Executive Officer Jonathan Klein founded Getty Investments LLC, which today is the principal shareholder of Getty Images. In 1995 they founded Getty Communications, a stock photography business which in 1997, merged with the company PhotoDisc Inc. (a publisher of digital stock photography) to form Getty Images. Getty Images has since expanded through various acquisitions to become a global digital media company that has roughly 1900 employees worldwide. The major positions involved in the management of Getty Images are shown in the following table.
Name/Position
Mark Getty Co-Founder and Chairman
Jonathan Klein Co-Founder and Chief Executive Officer
Nick Evans-Lombe Chief Operating Officer
Lisa Calvert Senior Vice President, Human Resources and Facilities
Jeff Dunn Chief Financial Officer and Senior Vice President
Jim Gurke Senior Vice President, Marketing
Steve Heck Senior Vice President, Technology
John Lapham Senior Vice President, General Counsel
Lee Martin Senior Vice President, Sales Europe
Adrian Murrell Senior Vice President, Editorial Imagery
Craig Peters Senior Vice President, Business Development
Michael Teaster Senior Vice President, Sales, North America and Asia Pacific
Kelly Thompson Chief Operating Officer, iStockphoto
What- Business/Major Assets/Revenues
Getty Images is a media content company that create, own and distribute a broad range of digital media collections (photographs, news, sport, entertainment and archival imagery, music, footage, etc) mainly to advertisers, newspapers, feature film and television producers and others involved in traditional or digital media communications. They are also a provider of imagery and multimedia related products and services such as licensing models, digital asset management, rights services and digital media management tools. Getty Images position themselves as pioneers who brought the stock photography business to the digital age by being the first to licence imagery online.
Getty Images’ revenue for 2006 was estimated to have been roughly 807million.
Since its inception in 1995, Getty Images has successfully acquired and integrated more than 70 collections and companies of stock photography worldwide. Other than its merging with PhotoDisc, these include Kodak’s Image Bank collection, Stone (formerly Tony Stone Images), the Visual Communications Group, the sports photography agency Allsport, the journalistic specialists Liaison Agency, digital news photo agency Newsmakers, Online USA, a celebrity photograph website, the Hulton Picture Library which was the former archive of the British photojournalistic magazine Picture Post, Redferns Music Picture Library the London-based music photography collection and large competitor Archive Photos of New York, which was the combination of two leading U.S photographic agencies, Pictorial Parade and Frederick Lewis Stock Photos.
Getty Images has further consolidated its position in the digital media market by also acquiring the micropayment site iStockphoto, the online art seller Art.com, stock audio and video with the acquisition of EyeWire and Energy Film Library, image.net an online publicity distribution service, major competitors MediaVast which also owned WireImage (Entertainment, creative, and sports photography), FilmMagic (fashion and red carpet photography) and Contour Photos (portrait and studio photography), and Jupitermedia’s online images division, Jupiterimages which also included the sites stock.xchng and StockXpert.
When- Recent History
Previously independent, in 2008, Getty Images was acquired by Hellman & Friedman LLC, a private equity investment firm that focuses on investing in business franchises and participating in the management of select industries including media and marketing services, financial services, professional services, information services, healthcare and energy.
Where- Location/Geography
Getty Images is based in Seattle, USA but also has 20 offices worldwide in cities such as Chicago, Sydney, Munich, London, New York, Los Angeles, Paris and Tokyo. Their products and services are available in more than 100 countries and they also offer localized image data and contextual search capabilities in eight local languages.
Why- Political Influence
I couldn’t find much on whether Getty Images or its management had political biases. However, Getty Images does provide services in supplying media content for particular political media campaigns and messages. Whether this is deemed political influence or just another profitable service for the company is debatable.
Future- SWOT analysis
Strengths
- Industry leader
- Broad customer base
- Strong top-line growth and cash flow
Weaknesses
Opportunities
- Corporate initiatives
- Addition of video service
- International expansion
Threats
- Copyright infringements
- Online operations
- Highly competitive industry
For full SWOT Analysis report on Getty Images
References
http://company.gettyimages.com/
http://www.gettyimagesjobs.com/
http://www.businessweek.com/bwdaily/dnflash/september/nf70917b.htm
http://company.gettyimages.com/article_display.cfm?article_id=179&isource=corporate_website_ind_press_release
http://imagery.gettyimages.com/political/index.html
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=139705
http://www.linkedin.com/companies/getty-images
http://en.wikipedia.org/wiki/Getty_Images#cite_note-9