Corbis, a privately held company based in Seattle, hasn't disclosed its finances since 2007 when it named Shenk as CEO in an effort to bring in more revenue from licensing rights. At that time, Corbis had about $250 million [actually $252 million] in annual revenue.
The AP's revenue last year totaled $630.5 million, a decline of $117 million, or 16 percent, from 2008. The Corbis deal marks the latest step in the AP's effort to recover some of the revenue that it lost in the past two years as it lowered its fees to help newspapers and broadcasters cope with downturns in their own businesses.
"Now the AP and Corbis are able to provide an alternative to Getty that we feel is superior" across every key category, Corbis CEO Gary Shenk said in an interview.
Shenk said that Corbis and the AP analyzed each other’s focus and realized that there was only about a 10 percent overlap [hard to believe] in each other’s customer base.
AP is strong in newspapers and broadcasting companies, as well as large news portals. Corbis is strong in the magazine segment, both online and print, as well as with advertising agencies and commercial and archival customers.
The AP partnership comes just weeks after Corbis bought Splash News[and the partnership from March between Corbis and ZUMA Press]. Shenk said Corbis was not making Splash News photos available to the AP at this time. Nor will AP get access to some of Corbis’s creative content that has mostly served the advertising market.
"The partnership is limited to the United States at the moment, starting in October", writes BJP additionally.
The quoted articles above are strongly condensed. More details in the press release.
In the light of the upcoming V3 of Fotolia´s website (and the competition) some major changes were announced:
There will be only *one* subscription plan left in the future, instead of the Standard (L size) and the Premium (XXL size) subscription. This is for many reasons very interesting, the Premium subscription was alive little over 2 years. Changes with respect to contributor commissions below (without absolute re-/progressive values between percentage differences):
Videos in HD will no longer be offered in the subscription plan (like earlier in the Premium subscription), "but web resolution vids are available", in M size, counting now as five downloads. HD vids need to be acquired separately in the future, as single downloads.
Vectors, counting earlier as 3 DL, are counting now as 1 DL, and commissions for contributors were cut way stronger than for images, being in RPD now equal to images. Do your own math.
In this post from last week (earlier similar here) Alamy explains their statement on the new Alamy Premium Account and writes "We can cannibalise microstock market share at a much higher price point". I won´t go into more details, the use of images in advertisement (Microstock) or not (Alamy Premium), virtually unlimited usage, etc. - I just don´t believe in the basic principles of this opinion, hardly based on serious calculations.
Alamy refused to publish further Quarterly Statements after their final public Q4/2009 Statement in early 2010, and that´s not because their revenues went through the roof. "Cannbalise": Alamy used to generate roughly 1/30 in yearly revenues of what the total microstock industry generates in revenues per year. Ray William Johnson can´t compete with that.
"I'm excited to share that starting in September, I'll be taking the next step in my journey--but I'm not going too far. I will be moving to New York to take on a new role as Senior Vice President, Product Development for Getty Images. I will be relocating to Manhattan.
My current duties related to the day-to-day operation of iStock will be performed by Rebecca Rockafellar, who will move into the role of General Manager of iStock as well as retain her current role as Senior Vice President of Ecommerce at Getty Images."