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iStockphoto Joins Getty Images

FEBRUARY 9, 2006 - 14:18 ET

iStockphoto Joins Getty Images as Explosive Growth Continues; Expansion into Social Media Opens New Markets for Industry Leader

CALGARY, Alberta--(CCNMatthews - Feb 9, 2006) -

iStockphoto, the world's leading stock photography community, today announced that it has been acquired by Getty Images, Inc. (NYSE:GYI), the world's leading creator and distributor of visual content. The acquisition underscores the growing importance of social media and places Getty Images at the forefront of the explosive growth of the imagery industry's value segment.

"We took a look at where we wanted to go and found Getty Images singularly capable of helping us get there," said Bruce Livingstone, iStockphoto founder, CEO and president. "This new relationship will greatly extend the reach of our contributors, exposing their work to untapped global markets. By joining Getty Images, we see tremendous room for growth and a chance to bring even more photographers and image buyers together. It's a very exciting time."

"We have pioneered most of the important developments in the imagery industry in the last ten years. This time we want to help grow and champion the sort of revolutionary thinking iStockphoto represents as we lead the imagery business to the next stage of growth, serving all markets at every price point," said Jonathan Klein, Getty Images' co-founder and CEO. "Getty Images is committed to supporting iStockphoto as a community of participation and innovation."

iStockphoto will continue operating as a separate brand while gaining access to resources that will help build and expand the community's global reach. Bruce Livingstone, who pioneered the micropayment stock photography business model, will remain at the helm of iStockphoto.

The acquisition demonstrates that Getty Images recognizes, supports and embraces the power of the culture of participation that is sweeping the Web and is continuing to implement its stated strategy of serving image buyers at all price points on all platforms and in all markets.

About iStockphoto

iStockphoto, http://www.istockphoto.com, the world's first, largest and most innovative community marketplace for digital imagery, pioneered the micropayment phenomenon in this industry, enabling buyers to license images for as little as a dollar. In partnership with its members, iStockphoto has turned community into commerce, transforming the digital imagery market by encouraging passionate dialogue and education, while making imagery affordable to businesses that may not have licensed imagery otherwise. iStockphoto is headquartered in Calgary, Alberta, Canada.

About Getty Images

Getty Images (NYSE:GYI) is the world's leading creator and distributor of visual content and the first place creative professionals turn to discover, purchase and manage imagery. The company's award-winning photographers and imagery help customers create inspiring work which appears every day in the world's most influential newspapers, magazines, advertising campaigns, films, television programs, books and Web sites. Headquartered in Seattle, WA and serving customers in more than 100 countries, Getty Images believes in the power of imagery to drive positive change, educate, inform, and entertain. Visit Getty Images at http://gettyimages.com.

iStockphotoTM is a trademark of iStockphoto Inc. Getty ImagesTM is a trademark of Getty Images, Inc. All other company or product names are the registered trademarks or trademarks of their respective owners.

Comments

( 7 comments — Leave a comment )
sbgrl
Feb. 10th, 2006 02:37 pm (UTC)
Yeah, yesterday seemed to be a big day in stockland. In addition to this news from Istock, shutterstock is going to start selling stock video footage.
blaneyphoto
Feb. 10th, 2006 09:57 pm (UTC)
That's interesting. I've heard alot of talk about stock video, but I can't figure out what it might be or how it would be used. There must be some need for it though!
sbgrl
Feb. 10th, 2006 10:01 pm (UTC)
Yeah, I was definitely surprised. Don't have a video camera though. Did think about trying to borrow one from a friend, but eh. We'll see. Need to build up my photo port first.
blaneyphoto
Feb. 10th, 2006 10:09 pm (UTC)
I'm trying to imagine what the upload on video must be like! I'd imagine they would require raw DV footage, so that it can be converted to whatever format the buyer needs... that's a LOT of space. Maybe submit on DVD? Crazy.

Oh, I read about your bathroom... that's the one advantage of renting. SOMEONE ELSE has to fix it! Assuming of course, that they come and fix it promptly...
sbgrl
Feb. 10th, 2006 10:18 pm (UTC)
I'm not sure if they are having issues with the site or if it's on my side, but you can read about it here

http://footage.shutterstock.com/

I know that they are to be a max length of 1 min and should be uploaded via FTP. Otherwise I haven't really read up in it yet. Don't know that I will bother unless I'm thinking about trying to upload some.
sbgrl
Feb. 10th, 2006 10:19 pm (UTC)
Oh yeah, and how crazy about the bathroom right! Yeah, no, they were there, I guess whether or not it's fixed depends on how bad the situation was.
blaneyphoto
Feb. 10th, 2006 10:58 pm (UTC)
I wish you could see our upstairs bathroom... the tub is about ready to fall through the ceiling. HGTV is having a Bad Bathroom Makeover contest... http://www.nancyglassproductions.com/ugly-app.html We're definitely entering!
( 7 comments — Leave a comment )