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.
Getty Images (NYSE: GETY) has renewed its partnership with BBC Studios for another five years, continuing its role as the exclusive global distributor of BBC Motion Gallery's video clip sales. This collaboration highlights Getty's extensive experience, including managing the Hulton Archive and over 330 prestigious collections. With more than 21 million video assets, Getty Images aims to meet the increasing demand for quality visual content. The renewal underscores the mutual trust and commitment shared between both organizations, promising to serve diverse customer needs worldwide.
On November 15, 2022, Getty Images (NYSE: GETY) announced that CFO Jennifer Leyden and VP of Investor Relations Steven Kanner will represent the company at the 2nd Annual Needham Consumer Tech/E-Commerce Virtual Conference on November 21, 2022. They will engage in one-on-one investor meetings and a fireside chat scheduled for 10:45 AM ET. The event will be accessible via a live webcast on Getty Images’ investor relations website.
Getty Images is a leading global visual content creator, providing a comprehensive range of content solutions to customers worldwide.
Getty Images Holdings reported Q3 2022 financial results, highlighting revenue of $230.5 million, a 2.8% decline year-over-year but a 2.8% increase on a currency-neutral basis. Annual subscription revenue grew to 49.4% of total revenue. The company faced a net loss of $149.4 million, driven largely by a fair value adjustment of $161.3 million. Adjusted EBITDA was $77.7 million. Notable partnerships included agreements with BBC Studios and Microsoft. The company anticipates 2022 revenue guidance between $929 million to $953 million.
iStock's VisualGPS research indicates that financial wellness has become a top consumer priority in the post-pandemic landscape, with 50% of respondents experiencing financial anxiety. As the cost-of-living crisis looms large, 67% believe expenses will outstrip income. The study suggests small and medium-sized businesses (SMBs) focus on celebrating small moments and showing empathy in their marketing strategies to engage customers. With over 60% prioritizing financial literacy, businesses are encouraged to demystify financial services in their visual content to build trust and support clients facing financial stress.
On October 25, 2022, BRIA announced a strategic partnership with Getty Images (GETY). This collaboration aims to integrate advanced Generative AI tools on Getty's platform, allowing users to tailor images for various projects. BRIA emphasizes the commitment to ethical AI usage, focusing on copyright respect and bias mitigation. The partnership reflects Getty Images' long-standing innovation in supporting creative professionals, enhancing efficiency while ensuring responsible content creation. Both companies aim to democratize creativity through AI-driven features.
Getty Images Holdings, Inc. (NYSE: GETY) has announced its intention to release third-quarter results on November 14, 2022, after market close. A conference call will follow at 5:00 p.m. ET to discuss these results. Investors can access the call via phone, with details provided for both domestic and international callers, or listen to a live webcast on the company’s Investor Relations website. Getty Images serves over 1 million customers globally, featuring a vast archive and engagement with more than 496,000 contributors.
On October 10, 2022, iStock released research revealing shifting workplace attitudes among Gen Z and Millennials. The study highlights that 41% of these younger workers prioritize work/life balance over job security, with 54% redefining success to encompass their overall well-being. The findings indicate a generational divide in expectations at work, with younger adults favoring clear job roles versus older generations emphasizing going above and beyond. iStock encourages businesses to adopt policies promoting mental health, recognize diverse well-being needs, and balance technology use for better connections.
Unsplash, a leading free image platform, launched Unsplash+, an unlimited subscription service offering exclusive access to a high-quality image library with enhanced legal protections for commercial use. This new service, priced at $7 per month, complements the existing library of 4.2 million images and aims to meet the needs of creators requiring specific content. Subscribers will benefit from model and location release guarantees, allowing for secure commercial use. The platform will continue to commission unique imagery regularly from its contributor community to enhance value.
Getty Images Holdings, Inc. (NYSE: GETY) announced the redemption of all outstanding warrants to purchase shares of its Class A common stock for a redemption price of $0.01 per warrant. This action follows the achievement of a share price target of at least $18.00 on 20 trading days within the past 30 days. Holders may continue to exercise their warrants until 5:00 p.m. on the redemption date, October 19, 2022. After this date, unexercised warrants will become void. The company has filed a registration statement with the SEC related to the underlying shares.
Getty Images (NYSE: GETY) announced the allocation of US $45,000 in editorial grants to support photojournalists and organizations focused on humanitarian issues. The grants include three grants of US $5,000 for individual projects documenting forced displacement and two grants of US $15,000 for organizations promoting documentary photography. Notable recipients include Rebecca Conway for her work on PTSD in Sri Lanka and Nicolò Filippo Rosso for documenting the journeys of asylum seekers. Since 2004, Getty has donated over US $2.4 million to various photography initiatives.
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