Making Money With Social Media: Getty Images Plans To Build Business On Flickr Photos

Jul 9th, 2008 | By | Category: General, Making Money with Podcasts

An article in the New York Times today looks at how Getty Images plans to build a new business, based on licensing imges from social photo-sharing site Flickr:

Yahoo and Getty Images said Tuesday that they have entered into a partnership under which Getty editors will comb Flickr in search of interesting images. They will then invite photographers to participate in the program and ensure that their images have the proper releases to be licensed legally. Those who are included in the program will get paid at the same rates that Getty pays photographers who are under contract with the company.

Mr. Klein said that Getty charges on average between $500 and $600 for “rights managed” images, which are used by a customer exclusively for a period of time. Photographers get between 30 percent and 40 percent of that. The company charges on average of $250 for non-exclusive use of images and gives photographers a 20 percent cut of that, Mr. Klein said.

Getty’s plan, if it proves successful, could provide a model for others building businesses based on social media: act as filters to identify marketable content, and then handle the licensing.

“We believe that Flickr will be an important addition to the mix that we have,” said Jonathan Klein, co-founder and chief executive of Getty Images. “Because the imagery is not shot for commercial services, there is more authenticity. Advertisers are looking for authenticity.”

Image: Dr. Pat

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