Nowadays, most discussions on photography focus on the birth of some new microstock agency where pictures will be sold for a few cents or the closing of one of the new initiatives started to make money easily.
There are a few exceptions, but certainly there is no interest in promoting photography. Analysts have overlooked though that all those agencies that had gone public, they have now either gone bankrupt or have chosen to become private again. This is the case of A21, Getty Images and Jupiterimages.
What does all this mean? Probably, it just means that this option isn't viable and that no other agency will choose to go public. I have no idea how many investors have lost money, but I do believe there are quite a few such people.
Photography doesn't allow much return over investment.