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Getty Images (GETY) Boosts Portfolio With iStock Generative AI
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Getty Images Holdings (GETY - Free Report) is making significant strides in the visual content creation sector through the advancement of its renowned platform, iStock.
In the third quarter of 2023, GETY experienced a notable surge, acquiring more than 88% new annual subscribers, surpassing the 202K mark. This surge in subscriber accounts is particularly evident on platforms like iStock and Unsplash.
Expanding its creative tool offerings, Getty Images with NVIDIA (NVDA - Free Report) recently introduced generative AI by iStock.
Leveraging the power of NVIDIA Picasso, this affordable and commercially secure generative AI tool enables users and businesses to transform ideas into impactful visuals seamlessly.
Engineered to safeguard against copyrighted elements, the tool draws from Getty Images' extensive creative libraries, providing users with confidence in the generated content.
Each licensed visual comes with iStock's standard $10K legal coverage, ensuring peace of mind for businesses.
Compatible with iStock's vast library of authentic and commercial-ready imagery, generative AI by iStock offers a cost-effective way to explore the possibilities of generative AI in various marketing efforts, such as print, social media and online promotions.
Expanding Portfolio Aids Growth
The latest move is in sync with Getty Images’ commitment to providing innovative solutions in visual content creation and distribution.
This approach is further evident through Getty Images and NVIDIA’s extended partnership, introducing generative AI by Getty Images, a service uniquely tailored to address fundamental customer needs with high-quality, commercially safe content creation and uncapped indemnification.
Expanding its reach and clientele, Getty Images has recently formed a partnership with BBC Studios.
In partnership with BBC Studios, Getty Images introduced an innovative platform, revolutionized the archive supply chain and provided customers with access to 57,000 additional programs from the BBC archives.
Further solidifying its position as the premier provider of high-quality visual content in collegiate football, Getty Images recently secured the prestigious title of the Official Photo Distribution and Licensing Provider of the College Football Playoff.
Continuing its commitment to sports content creation, Getty Images renews its agreement as the Authorized Photographic Agency for the Rugby World Cup. This reaffirms its dedication to delivering an industry-leading service in capturing and distributing world-class sports content.
A robust portfolio and expanding clientele are expected to strengthen Getty Images' position, driving top-line growth.
However, macroeconomic headwinds and the ongoing pressures from the Hollywood strikes and challenges in the agency business continue to remain a concern.
For 2023, GETY anticipates total revenues between $900 million and $910 million, indicating a decline of 1.8-2.8% from 2022 levels. The Zacks Consensus Estimate for revenues is pegged at $907.8 million, suggesting a drop of 2% year over year.
Zacks Rank & Stocks to Consider
Currently, GETY carries a Zacks Rank #3 (Hold).
GETY’s shares have returned 6.3% in the past six months compared with the Zacks Computer & Technology sector’s rally of 9.7%.
Image: Bigstock
Getty Images (GETY) Boosts Portfolio With iStock Generative AI
Getty Images Holdings (GETY - Free Report) is making significant strides in the visual content creation sector through the advancement of its renowned platform, iStock.
In the third quarter of 2023, GETY experienced a notable surge, acquiring more than 88% new annual subscribers, surpassing the 202K mark. This surge in subscriber accounts is particularly evident on platforms like iStock and Unsplash.
Expanding its creative tool offerings, Getty Images with NVIDIA (NVDA - Free Report) recently introduced generative AI by iStock.
Leveraging the power of NVIDIA Picasso, this affordable and commercially secure generative AI tool enables users and businesses to transform ideas into impactful visuals seamlessly.
Getty Images Holdings, Inc. Price and Consensus
Getty Images Holdings, Inc. price-consensus-chart | Getty Images Holdings, Inc. Quote
Engineered to safeguard against copyrighted elements, the tool draws from Getty Images' extensive creative libraries, providing users with confidence in the generated content.
Each licensed visual comes with iStock's standard $10K legal coverage, ensuring peace of mind for businesses.
Compatible with iStock's vast library of authentic and commercial-ready imagery, generative AI by iStock offers a cost-effective way to explore the possibilities of generative AI in various marketing efforts, such as print, social media and online promotions.
Expanding Portfolio Aids Growth
The latest move is in sync with Getty Images’ commitment to providing innovative solutions in visual content creation and distribution.
This approach is further evident through Getty Images and NVIDIA’s extended partnership, introducing generative AI by Getty Images, a service uniquely tailored to address fundamental customer needs with high-quality, commercially safe content creation and uncapped indemnification.
Expanding its reach and clientele, Getty Images has recently formed a partnership with BBC Studios.
In partnership with BBC Studios, Getty Images introduced an innovative platform, revolutionized the archive supply chain and provided customers with access to 57,000 additional programs from the BBC archives.
Further solidifying its position as the premier provider of high-quality visual content in collegiate football, Getty Images recently secured the prestigious title of the Official Photo Distribution and Licensing Provider of the College Football Playoff.
Continuing its commitment to sports content creation, Getty Images renews its agreement as the Authorized Photographic Agency for the Rugby World Cup. This reaffirms its dedication to delivering an industry-leading service in capturing and distributing world-class sports content.
A robust portfolio and expanding clientele are expected to strengthen Getty Images' position, driving top-line growth.
However, macroeconomic headwinds and the ongoing pressures from the Hollywood strikes and challenges in the agency business continue to remain a concern.
For 2023, GETY anticipates total revenues between $900 million and $910 million, indicating a decline of 1.8-2.8% from 2022 levels. The Zacks Consensus Estimate for revenues is pegged at $907.8 million, suggesting a drop of 2% year over year.
Zacks Rank & Stocks to Consider
Currently, GETY carries a Zacks Rank #3 (Hold).
GETY’s shares have returned 6.3% in the past six months compared with the Zacks Computer & Technology sector’s rally of 9.7%.
Some better-ranked stocks in the broader technology sector are BlackLine (BL - Free Report) and Camtek (CAMT - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
BL and CAMT shares have returned 4.6% and 113.5%, respectively, in the past six months.
Long-term earnings growth rates for BlackLine and Camtek are pegged at 50.56% and 12.26%, respectively.