Getty Images Strengthens Creator Community With Exciting Gathering
Getty Images Holdings GETY has embarked on an exciting journey to bolster its presence in the visual content creation space with the inauguration of its newest event series, Create By Getty Images. The event, formerly known as iStockalypse, now acts as a unique platform for Getty Images and iStock creators worldwide, allowing them to collaborate and produce premium content under the expert guidance of Getty Images’ seasoned professionals.
Scheduled to unfold in Houston, TX, on May 18-19, this gathering is set to capture the city’s rich cultural diversity alongside its emergence as a hub for sustainable technology startups. Create By Getty Images seeks to empower creators by focusing on themes such as local life in Houston, sustainability, and technological innovation, equipping them with the tools to meet the visual demands of Getty Images and iStock’s global clientele.
Empowering Growth Through Innovation
Getty Images’ recent initiatives mirror its dedication to supporting the global creator community while adapting to the changing visual preferences of consumers worldwide. A significant highlight is the introduction of Enhanced Search in March, a sophisticated feature that harnesses AI and machine learning to enhance visual content discovery through natural language queries on Getty Images and iStock platforms.
Moreover, Getty Images has expanded its repertoire through strategic acquisitions, such as the recent takeover of Motorsport Images. This move enriched Getty Images’ collection with over 29 million images and 8,900 hours of video footage, reinforcing its position as a leading provider of visual content in the motorsport industry.
Collaborating with NVIDIA NVDA, Getty Images also unveiled Generative AI by iStock earlier this year, an accessible tool that transforms creative ideas into content using NVIDIA Picasso. Additionally, Getty Images’ alliance with the United Football League solidified its status as the Official Photographic Agency of the league, promising high-quality imagery throughout the season and expanding its sports partnerships around the globe.
By diversifying its offerings and clientele, Getty Images aims to fortify its market position, thereby stimulating revenue growth. Projections for 2024 indicate total revenues ranging between $928 million and $947 million, marking a 1.3-3.3% increase from 2023 figures. Analysts anticipate a revenue estimate of $942.53 million, reflecting a 2.83% rise year-over-year.
Analyzing Performance and Investment Opportunities
Getty Images currently holds a Zacks Rank #3 (Hold). Although GETY shares have observed a 21.3% decrease year-to-date, the broader Computer & Technology sector has witnessed a 13.6% upsurge. Noteworthy stocks in the tech domain include Bill Holdings BILL and Bentley Systems BSY, each holding a Zacks Rank #1.
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