Ganesh, the Hindu god of business must be a friend of Corbis!
photograph by Jon Mitchell
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Corbis
announces results for 2006
by
Jon Mitchell
Behemoth agency Corbis has announced it's 2006 results and made a
whopping US$251m, up from US$228m in 2005. Which is ironic, as my sales
reports often hardly add-up to 250 Euro!
“2006 was a significant year for Corbis as we began reaping the
benefits of past strategic investments to exceed our cash flow targets
and stay on plan toward achieving profitability,” said Corbis CEO Steve
Davis.
“Our continued industry-leading momentum demonstrates that
customers are increasingly recognizing Corbis as a creative brand,
responding to our market positioning and benefiting from our innovative
combination of image licensing and creative services,” he added.
Corbis has been expanding rapidly since arriving on the market in the
late 1990s (after it was purchased by Bill Gates) and has been
expanding last year a lot in Asia, opening an office in Beijing, China
and a partnership with IndiaPicture.com.
The company also bought the Australian Picture Library (APL) to
increase it's market reach in Australia and New Zealand.
During 2006, some 500,000 new images were added into their collection.
The company says it will be getting in to Microstock in the second
quarter of 2007.
“We are optimistic about the year ahead and are focused on three
growth priorities: building the best pictures period, enhancing our
industry-leading Rights Services and launching a fresh microstock
offering,” said Gary Shenk, the President of Corbis.
This is an interesting development and could radically alter the stock
photo landscape as Getty have also recently aquired Microstock pioneer
istockphoto.com.
“We’re excited to enter
the microstock space, and we view it as an attractive, complementary
business given our assets and expertise. We plan on building a
substantial, fast-growing and profitable business in this category,” he
added.
Watch this space...
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