Getty Images Holdings GETY is broadening its influence in the visual content creation realm through the inception of its latest event endeavor, Create By Getty Images.
Previously known as iStockalypse, Create By Getty Images provides a unique platform for Getty Images and iStock videographers and photographers globally to interact and produce premium content for worldwide platforms under the guidance of Getty Images’ experienced creative professionals.
The forthcoming event in Houston, TX, scheduled for May 18-19, will concentrate on capturing the essence of the city’s cultural diversity and its ascent as a center for clean technology startups.
With themes revolving around Houstonian local life, sustainability, and technological innovation, Create By Getty Images aims to equip creators with the skills and knowledge necessary to fulfill the visual demands of Getty Images and iStock’s international clientele.
The event also promotes creators to propose and secure funds for shoots, ensuring a varied selection of content that genuinely mirrors the city’s cultural diversity.
Creators will have the freedom to organize additional shoots across different locations in Houston, further enriching the content offerings of the event.
Enhanced Portfolio Fuels Growth
The latest initiative aligns with Getty Images’ dedication to empowering its worldwide creator community and adapting to the evolving visual requirements of customers across the globe.
The expansion of the portfolio has been commendable. In March, Getty Images unveiled Enhanced Search, an advanced feature utilizing AI and machine learning to deliver quicker, more relevant visual content discovery through natural language queries on Getty Images and iStock platforms.
Getty Images has also reinforced its portfolio through strategic acquisitions. The recent addition of Motorsport Images has enriched its portfolio with over 29 million images and 8,900 hours of video footage, consolidating its stature as a premier provider of visual content in the motorsport domain.
With the introduction of Generative AI by iStock, powered by NVIDIA NVDA, Getty Images has expanded its creative tool offerings.
In January, GETY rolled out Generative AI by iStock, a cost-effective and legally protected tool for transforming creative ideas into content, utilizing NVIDIA Picasso and backed by $10K legal coverage, seamlessly integrating with iStock’s extensive library for varied marketing needs.
To widen its reach and client base, Getty Images recently entered into a partnership with the United Football League (UFL).
As part of the multi-year pact, Getty Images was named the Official Photographic Agency of the United Football League, pledging high-quality visual content throughout the 12-week season, bolstering its broad portfolio of sports partnerships worldwide.
A robust portfolio and an expanding clientele are poised to fortify Getty Images’ position, thereby propelling revenue growth.
For 2024, GETY forecasts total revenues ranging between $928 million and $947 million, reflecting a 1.3-3.3% increase from 2023 levels. The Zacks Consensus Estimate for revenues stands at $942.53 million, indicating a 2.83% rise year over year.
The Zacks Consensus Estimate for earnings is pegged at 7 cents per share, slipping by a couple of pennies in the previous 30 days.
Zacks Rank & Stocks to Consider
Getty Images currently holds a Zacks Rank #3 (Hold).
GETY’s shares have dipped by 21.3% year to date compared with the Zacks Computer & Technology sector’s surge of 13.6%.
Some better-ranked stocks in the broader technology sector include Bill Holdings BILL and Bentley Systems BSY, both carrying a Zacks Rank #1.
Bill Holdings shares have fallen by 23.1% in the year-to-date period. BILL’s long-term earnings growth rate is currently anticipated at 23.64%.
Bentley Systems shares have decreased by 5.5% year to date. BSY’s long-term earnings growth rate is presently forecasted at 12%.