- ‘Tis the Season: London florist creates $4.6 million Christmas wreath
- No tailgating allowed at Super Bowl XLVIII
- Pentagon to transport African troops to Central African Republic
- Chinese man fed up with his girlfriend’s shopping jumps to his death
- Ukraine leader to talk with protesters; Washington urges caution
- Pope Francis: A nun saved my life
- Israeli P.M. Netanyahu backs out of Mandela funeral
- Elian Gonzalez makes first trip outside Cuba since custody battle
- U.S., British intelligence agents enter online sci-fi world to spy on gamers
- Sarah Palin to host the outdoors show ‘Amazing America’
AP, Corbis team up in bid to profit from pictures
The Associated Press and Corbis Images are teaming up in an attempt to make more money from a stockpile of photography that includes some of the world’s most famous photos.
The partnership, announced Tuesday, calls for the AP and Corbis Images to begin posting each other’s photos in their online galleries beginning in early October. The websites, http://www.apimages.com and http://www.corbisimages.com, license the photos to be used by magazines, books, websites, advertisers and a variety of other buyers.
The selections will include some of the pictures that have won the AP 30 Pulitzer Prizes for photography. Some of Corbis‘ contributions will come from a prized archive of prints and negatives collected by Otto Bettmann. Corbis drew upon the multibillion dollar fortune of its owner, Microsoft Corp. co-founder Bill Gates, to buy the Bettmann archive in 1995.
The AP and Corbis formed their alliance in hopes of mining new markets. By combining their portfolios, they hope to feed off each other’s strengths and lure business away from top photo licensing rival Getty Images and a host of others.
As a not-for-profit cooperative started by newspaper publishers 165 years ago, the AP’s photographic strengths are breaking news, sports and entertainment. The global news organization is based in New York.
Since its inception in 1989, Corbis has amassed a trove of historical photos and a mix of so-called stock photography that tends to appeal to advertisers.
AP CEO Tom Curley expects the partnership to “provide unprecedented access to the most far-reaching, complete collections available anywhere.”
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. The AP’s revenue last year totaled $630.5 million, a decline of $117 million, or 16 percent, from 2008.
Curley expects the AP’s revenue to rise slightly this year as it garners more money from the Internet, video and other sources, such as the photo archives.
The demand to license the AP’s photography has been rising during the past decade, as the Internet and mobile devices such as Apple Inc.’s iPad create new ways to showcase pictures, said Fernando Ferre, the AP’s vice president of images.
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 in annual revenue.
Getty Images, also privately held, doesn’t disclose its revenue either. The company had nearly $858 million in revenue in 2007, the last year it reported financial results before being bought for $2 billion in a deal led by buyout specialists Hellman & Friedman.
By Tom Fitton
New photos confirm the attack's coordination and its cover-up
- Chinese man fed up with his girlfriend's shopping jumps to his death
- Israeli P.M. Benjamin Netanyahu backs out of Nelson Mandela funeral
- Obama lied about Syrian chemical attack, 'cherry-picked' intelligence: report
- CURL: Obama tells a whopper on IRS scandal
- Lawmakers see 'false narrative' of Obama as a terrorist fighter
- MSNBC host: Obamacare a 'wealthy white men' racist word
- Satanists petition for statue at Oklahoma Statehouse
- Inside China: Nuclear submarines capable of widespread attack on U.S.
- MILLER: Brady Campaign says Colorado recalls due to NRA, not grassroots opposition to gun control
- Ted Cruz sees legal landmines ahead for Obamacare
Independent voices from the The Washington Times Communities
The Constitution: Every issue, every time. No exceptions, no excuses. And how to get from here to there.
Crystal Wright is a black conservative woman living in Washington, D.C.
All of the world’s problems, solved on your back porch
Why can’t humans just be free to be humans?
White House pets gone wild!
Let it snow