GETTY IMAGES HOLDINGS INC Stock Price, News & Analysis

Getty Images Holdings, Inc. (NYSE: GETY) has announced its intention to release third-quarter results on November 14, 2022, after market close. A conference call will follow at 5:00 p.m. ET to discuss these results. Investors can access the call via phone, with details provided for both domestic and international callers, or listen to a live webcast on the company’s Investor Relations website. Getty Images serves over 1 million customers globally, featuring a vast archive and engagement with more than 496,000 contributors.

On October 10, 2022, iStock released research revealing shifting workplace attitudes among Gen Z and Millennials. The study highlights that 41% of these younger workers prioritize work/life balance over job security, with 54% redefining success to encompass their overall well-being. The findings indicate a generational divide in expectations at work, with younger adults favoring clear job roles versus older generations emphasizing going above and beyond. iStock encourages businesses to adopt policies promoting mental health, recognize diverse well-being needs, and balance technology use for better connections.

Unsplash, a leading free image platform, launched Unsplash+, an unlimited subscription service offering exclusive access to a high-quality image library with enhanced legal protections for commercial use. This new service, priced at $7 per month, complements the existing library of 4.2 million images and aims to meet the needs of creators requiring specific content. Subscribers will benefit from model and location release guarantees, allowing for secure commercial use. The platform will continue to commission unique imagery regularly from its contributor community to enhance value.

Getty Images Holdings, Inc. (NYSE: GETY) announced the redemption of all outstanding warrants to purchase shares of its Class A common stock for a redemption price of $0.01 per warrant. This action follows the achievement of a share price target of at least $18.00 on 20 trading days within the past 30 days. Holders may continue to exercise their warrants until 5:00 p.m. on the redemption date, October 19, 2022. After this date, unexercised warrants will become void. The company has filed a registration statement with the SEC related to the underlying shares.

Getty Images (NYSE: GETY) announced the allocation of US $45,000 in editorial grants to support photojournalists and organizations focused on humanitarian issues. The grants include three grants of US $5,000 for individual projects documenting forced displacement and two grants of US $15,000 for organizations promoting documentary photography. Notable recipients include Rebecca Conway for her work on PTSD in Sri Lanka and Nicolò Filippo Rosso for documenting the journeys of asylum seekers. Since 2004, Getty has donated over US $2.4 million to various photography initiatives.

Getty Images (NYSE: GETY) has renewed its partnership with Amazon, integrating Getty's extensive collection of high-quality images into Amazon's Alexa services and Fire TV software. This multi-year agreement underscores the demand for premium visual content, which will enhance the user experience across Amazon's platforms. Getty Images boasts over 495 million visual assets and covers around 160,000 events annually, reinforcing its position in the global visual content marketplace.

Getty Images (NYSE: GETY) announced the recipients of a US $40,000 grant aimed at promoting authentic representation of disability communities. The initiative highlights that only 1% of media visuals include individuals with disabilities, despite 20% of the global population living with such conditions. The grant awarded Megan E. Doherty US $15,000 as the first-place recipient, while Mia Boccella received US $10,000 for second place. Three photographers received US $5,000 each for third place, emphasizing Getty's commitment to diversifying visual representation.

Getty Images has announced that its management team will attend key investor conferences in September 2022. These include the Benchmark Company 2022 Consumer/Media/Entertainment Conference on September 7, the Citi Technology Conference on September 8, and the Goldman Sachs Communacopia + Technology Conference on September 15. Investors can access live webcasts of these presentations and listen to replays shortly after. With a global reach serving over 1 million customers and covering more than 160,000 events annually, Getty Images stands out as a major visual content provider.

Getty Images reported a strong second quarter for 2022, with revenue of $233.3 million, a 4.1% increase year-over-year. Net income surged to $38.7 million from $12.5 million in Q2 2021, marking a margin improvement to 16.6%. Notably, editorial revenue rose 15.0%, while creative revenue saw a minor decline of 1.0%. The company’s annual subscription revenue now comprises 48.2% of total revenue. Despite a drop in free cash flow to $16.8 million, Getty maintains a strong balance sheet with an ending cash balance of $213.8 million.