Getty Images puts itself up for sale
The largest picture agency in the world, Getty Images, has put itself up for sale after they failed to find a buyer for the company. That is a very unusual piece of news that I picked up form the financial press! Getty stands for high quality images in every area of photography, but also offer video film. Getty is quoted on the NYSE Euronext and is in direct competition with Bill Gates' company Corbis.
The only explanation that I can find for looking for a buyer for Getty's picture sales business is that the demand for high grade, exclusive and sometimes very expensive photos will become less important in the future. Photos made by amateurs are evidently quite sufficient for some online editions of magazines and newspapers. The viewers' expectations are sinking constantly - even photos from mobile telephones are good enough ;-( This development will also have consequences for professional photographers, as sales via agencies will become less. Less money for professionals also means spending less on equipment, which will also lead to quality suffering. Expectations of pictures will sink further because of the loss of quality.
This is the trend towards total "snapshot photography"!
My first photos at Getty Images
www.gettyimages.com/Search/Search.aspx
New York Stock Exchange - NYSE Euronext
Getty Images and Corbis on Wikipedia
en.wikipedia.org/wiki/Getty_Images
New York Times Business - details on the sale of Getty Images
dealbook.blogs.nytimes.com/2008/01/22/getty-images-up-for-sale-could-fetch-15-billion/
Jupitermedia
Fotolia
Shutterstock
