Welcome to our dedicated page for Getty Images Holdings news (Ticker: GETY), a resource for investors and traders seeking the latest updates and insights on Getty Images Holdings stock.
Getty Images Holdings, Inc. (NYSE: GETY) is a global leader in visual content creation and distribution. The company provides comprehensive visual content solutions through its brands Getty Images, iStock, and Unsplash. With a mission to enhance engagement through top-tier creative and editorial visual content, Getty Images serves customers in nearly every country across the globe.
Founded on nearly three decades of visual consultancy, Getty Images has evolved to integrate cutting-edge technology, including artificial intelligence and machine learning, into its platform. This advancement enhances their search functionality, image editing, and integrated APIs, making them the go-to source for diverse and inclusive content.
The company operates in various regions including the Americas, Europe, the Middle East, Africa, and Asia-Pacific, with the bulk of its revenue generated from the Americas. They cover more than 160,000 news, sports, and entertainment events yearly, providing unmatched breadth and depth of coverage.
Getty Images recently announced a multi-year partnership with the United Football League (UFL) to deliver exclusive high-quality imagery from every game. They are also the official photographer or photographic partner to 125 of the world's leading sports governing bodies, leagues, and clubs, including FIFA, NBA, and the International Olympic Committee.
Moreover, Getty Images continues to innovate in capturing major global events. For instance, they will deploy a team of 140 photographers and editors to cover the Olympic Games Paris 2024, using new technologies to capture unique angles and real-time images for a global audience.
Their commitment to authenticity extends to the adoption of generative AI technologies, allowing customers to create commercially safe visuals. With over 557,000 contributors and 320 content partners, Getty Images maintains one of the largest privately-owned photographic archives, providing a rich historical context for modern visual storytelling.
In recent financial developments, Getty Images has shown resilience and adaptability, focusing on key performance indicators to drive shareholder return and customer satisfaction.
iStock has unveiled new research offering guidance for small and medium-sized businesses (SMBs) on leveraging AI-generated images in marketing. The study, conducted via iStock's VisualGPS insights platform, surveyed over 30,000 adults across 25 countries. Key findings reveal that nearly 90% of people want transparency regarding AI-created images, and 82% distrust social media, highlighting the challenge for businesses to connect authentically. Authenticity is crucial, with 98% agreeing that 'authentic' images build trust. The research suggests businesses consider the type of imagery and its alignment with audience and goals, ensure transparency, and use legally safe AI tools to enhance marketing efforts.
On June 4, 2024, Getty Images (NYSE: GETY) announced an exclusive global content partnership with Condé Nast. This renewed collaboration will represent and license over 25,000 images from Condé Nast's extensive archive, dating back to 1892.
The partnership combines Getty Images' expertise in archival management with Condé Nast's renowned fashion archives, including work from famed photographers and illustrators such as Arthur Elgort and Edward Steichen. The content will be available on Getty Images' platform, serving a global audience across numerous countries.
Getty Images (NYSE: GETY) has been announced as the Official Photographer for the 2024 Tribeca Festival, marking their fifteenth consecutive year in this role. From June 5-16, 2024, their award-winning photographers will capture exclusive high-quality imagery from the event, including red carpet premieres, film screenings, and parties.
Additionally, Getty Images will provide high-end portraits of festival talent and creators, distributed exclusively through gettyimages.com. They will also cover the first-ever De Niro Con from June 14-16, a tribute to Robert De Niro.
Getty Images' content creators are present at nearly 70,000 entertainment events annually, partnering with major brands globally. This long-standing partnership reinforces Getty Images' commitment to visual storytelling and high-quality content creation.
FILMPAC, a leader in premium stock footage and production services, has announced a partnership with Getty Images to distribute its latest high-quality video content on gettyimages.com. FILMPAC's catalog, produced by award-winning directors, offers authentic, cinema-quality scenes aimed at high-end commercial use. This alliance leverages FILMPAC's creative expertise and Getty Images' global distribution network to meet the growing demand for genuine, high-quality content from top-tier clients, including leading agencies and global brands. The new collections are now accessible for commercial and enterprise licensing.
Getty Images reported financial results for the first quarter of 2024, showing a 79% increase in active annual subscribers, with annual subscription revenue rising to 55.4% of total revenue. The company reaffirmed its outlook for a return to topline growth in 2024. Despite a decrease in revenue, the net income improved significantly, and adjusted EBITDA remained strong. Getty Images also expanded its generative AI offerings and entered into new partnerships. The company acquired Motorsport Images, renewed partnerships with Bloomberg and The English Football Association, and added new partners like the Saudi Pro League.
Getty Images released a report titled 'Building Trust in the Age of AI,' focusing on consumer attitudes towards AI-generated content in marketing. The report emphasizes the importance of authenticity and transparency, with nearly 90% of consumers globally wanting to know if an image was created using AI. Consumers value 'authentic' visuals, and industries like healthcare, financial services, and travel are expected to be transparent in their content creation. The report outlines considerations for brands using AI-generated content, highlighting the importance of creativity, authenticity, transparency, and safeguarding against risks.
Getty Images (NYSE: GETY) has been selected as the Official Photographer of The Met Gala for the sixth consecutive year. Getty Images will cover every aspect of the exclusive event, providing imagery exclusively on gettyimages.com. The gala will feature co-chairs Zendaya, Jennifer Lopez, Bad Bunny, Chris Hemsworth, and Vogue's Anna Wintour, celebrating the opening of The Costume Institute's spring exhibition Sleeping Beauties: Reawakening Fashion. Getty Images' commitment to delivering unique content globally continues to set them apart in the industry.
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