Function Magazine

Art, Fashion and Entertainment

The Getty Images

Posted by elegant On August - 14 - 2012

If you have seen a picture or video on TV or any other publication, you may have noticed the author, Getty Images displayed on it.  Started in 1995, Getty Images is the world’s largest photo and video agency.  It is a brain child of billionaire oilman and philanthropist J. Paul Getty’s grandson Mark Getty, Chairman of the company and Jonathan Klein, the Chief Executive Officer and a native of South Africa.  Getty Images has grown from 100,000 images a year to 40 million a year generating over $1 billion annual revenue.  According to some estimates, the company is worth over $3.3 billion.  The company is publicly traded since 1996.  The company has grown tremendously by acquiring over more than 100 photo collections and companies such as Tony Stone Images of Britain and digital photography company PhotoDisc.  Today it is headquartered in Seattle, Washington.

Since 2001, the Getty Images’ entire collection is digital.  Recognizing a new trend such as photos taken by mobile phones, the Getty Images entered into that arena by purchasing iStockphoto, a crowdsourced amateur in 2005.  The Getty Images provides 30 to 40 million more expensive as well as cheaper images to a broader market of more than 1.3 million customers.

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