Wednesday, July 23, 2008

Internet enabled our success

When I going through how we can use internet for our success I have found some good article and good example on that. Read this and take what you get from that.

The great grandson of Sir Paul Getty, the founder of one of the most profitable media companies in the world, has declared the internet as the master key in turning his photography empire into a worldwide success.
Speaking to the Independent’s Media Weekly, Mark Getty explained that the internet has won the company subscription agreements with 55 of the top 100 US newspapers, compared to none three years ago.
Launched in London in 1995, Getty Images now boasts 40 million photographs dating back to 1860 and claims to provide coverage of a photographic event in greater depth than any single newspaper.
“The internet promised so much to so many businesses and has delivered so little to so many and an enormous amount to so few,” said Mark Getty, speaking alongside business partner, Jonathan Klein.
“We are one of the ultimate internet businesses. Our cost of distribution has gone from very high to virtually nothing.”
This transformation has left the two business partners with a media empire generating £355m a year, on the back of selling images to advertising campaigns, marketers, websites and leading newspapers.
Their agreement with the Mirror Group UK is a fitting example of how publications themselves market the Getty brand by being able to fill their publication with an endless stream of supplied images.
According to Mr Getty, this is a process that will expand in the future as newspapers and publications continue to reduce their dependency on staff photographers.
“We probably have more accredited photographers at the Olympic Games than the British media combined, so by definition we can cover an event in greater depth and breadth than a single newspaper.”
For all its said-volume and expectantly bright future, Getty Images only employs 120 photographers that manage to add 40,000 images every year.
Klein believes it is little wonder that the company’s photographers “absolutely love it because they have way more freedom than working for the Associated Press or Press Association.”
“Fundamentally their freedom derives from them being photo-journalists.
There’s no one writing the story” he added, “they are allowed to tell the story with pictures.”
And the difference between a photograph of Tiger Woods taken by AP, a PA snapper or an image captured by a Getty photographer?
Simple, says Klein. The GI photographer must “capture defining emotion around the moment, so they can literally be focusing on his wife or someone in the crowd and try and get a completely different shot.”
For the future, the company said it hopes to pre-empt the needs of publications, by creating a research team to identify trends, so that a portfolio is potentially available before it is requested by its network of global clients.

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