News
Getty acquires iStockphoto for $50 million
iStockphoto, the world's most popular stock photography website, has announced that it has been acquired by Getty Images, Inc, the world’s largest stock photo company. This acquisition gives Getty Images the leading micropayment stock photo site with a proven community-focused business model boasting millions of loyal customers. This follows the recent announcement by Jupiter Media to acquire 49.7% of Stock.xchng and stock.xpert and further signifies that the industry is evolving in ways to serve the budget-conscience stock photo user. Jonathan Klein, Getty Images' co-founder and CEO, had this to say about the acquisition. "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." Getty is planning to continue operating iStockphoto as a separate brand and Bruce Livingstone, iStockphoto founder, CEO and president, will remain at the helm of iStockphoto. Specific terms of the acquisition have not been disclosed. Click here for the original press release. Daryl Lang at PDN is reporting the purchase price of $50 Million.
Posted in: Getty Images, Micropayment Stock Photography, News, Stock Photo Companies<>
Comments(14)
post a comment »joel, February 10, 2006 [#]
What a drag. First eBay buys a piece of Craig’s List and then this. iStockphoto was the best image source online. I have purchased Getty Images and my intuition tells me they won’t let iStockphoto keep its pricing where it is.
miker, February 10, 2006 [#]
I completely disagree. Istock has proven to be a successful business model for the stock photo market—Getty would be stupid to kill the goose that’s laying golden eggs.
doug, February 10, 2006 [#]
that would be the case if they wanted to sell golden eggs....maybe they want to extend their platinum egg sales.
Cheyne, February 11, 2006 [#]
What was wrong with eBay buying craigslist? (firstly, they bought about 30% of the company or something like that) but craigslist has not changed whatsoever since.
Nonetheless, Getty won’t change the pricing model, it has succeeded at the current price against all of the competition, so they wouldnt think of chnaging it.
ryan, February 12, 2006 [#]
iStock doubled their prices last winter. Prices again increased this winter.
Especially with the Getty purchase, the questions about more price increases should not focus on if, but when.
Ratingz, February 15, 2006 [#]
We use a lot of iStock images, but we also use images from other more expensive stock houses. I think Getty’s purchase of iStock is a recognition that the market has segmented, and Getty wants a presence in both segments.
iStock prices have gone up, but they are still very, very inexpensive, and I expect Getty to keep things about the same. If they make radical changes in pricing or features at iStock, they will be opening a window for someone else to come in and fill that market niche.
Craig, March 22, 2006 [#]
Well - let’s hope they don’t change the price point. FOX Interactive Media has not changed MySpace, since it acquired Intermix Media because they know they have a good thing going. Perhaps Getty will follow suit.
JiggaDigga, April 07, 2006 [#]
Great reading, keep up the great posts.
Peace, JiggaDigga
Anon, April 13, 2006 [#]
Let me get this straight. You are so cheap you begrudge paying what you have to pay at Istock for a photo? Give me a break. What, are you designing on a food stamp budget? If Istock is too expensive for you then you are obviously a 10 year old kid, who already spent his lunch money.
Chris Leeman, August 03, 2006 [#]
Decent images on Getty cost a hundred if not several hundreds of dollars. iStockphoto charges a few bucks per photo. If you think Getty will leave a price gap that big, you are extremely naive.
Say bye-bye to the dime-a-dozen stock photos.
peebee, October 29, 2006 [#]
Nothing is stopping anyone from developing a competing website with the same business model.
mark, November 10, 2006 [#]
Getty has systematically bought up all the competition and jacked up their prices. iStockphoto is their currently their main competition. If you don’t think they bought iStockphoto to kill that competition, you’re nuts. iStockphoto is primarily concerned with providing a reasonably priced marketplace for buyers and sellers of stock images. Getty is primarily concerned with establishing a monopoly and driving up their stock price.
Crystal L. Cox, November 19, 2007 [#]
This is a great site, it is it is nice to read the comments. Not only WILL getty images RAISE the prices they will attack you for photo usage, claiming “unauthorized image usage” They have zillions of sites on the net, if your friends or co-workers send you a site, if you find a photo on a page where there are no Getty Labels and the site owner claims you can use the photo, whatever cirumstance should arise - getty will claim they own the image and send yo to collections. Their tricks will be exposed in an up and coming website. Stay Tuned.
Casey, September 12, 2008 [#]
Great pity. For me it was Getty or iStockphoto. Now it’s the same, kind of. Less competition is going to hurt us.