(5-Mar-14) Consumer Wall Decor offering via Photos.com
Tuesday March 4, 2014
Getty Images to Launch a Consumer Wall Decor offering via Photos.com
We are delighted to announce that we are expanding our product offering to serve consumers with our own wall decor product. A curated selection of our photography on gettyimages.com will now be available for purchase in high-quality frames and finishes from Photos.com by Getty Images. Working in partnership with experienced print production and fulfillment services, we are in the process of building a high-end wall decor offering. As some of you may have noticed, we are retiring the current Photos.com licensing platform. We are doing this in order to repurpose this valuable URL to serve the destination for Getty Images' consumer offering. We are preparing to announce and launch Photos.com in a few weeks and will be able to provide more detail then. In the meantime, here is a brief overview of why we are launching this consumer offering and how the collection is taking shape.
Wall art and decor is a multi-billion dollar industry and growing. Historically, iStock and Getty Images have catered to business customers and yet we know there are millions of consumers who visit our sites daily to view our imagery. This presents a huge opportunity to convert these photo enthusiasts to buying customers, thus opening the door to a significant new revenue stream. Major players currently include Art.com and Great Big Canvas, with online retail sites like One King's Lane and Fab driving even more growth in this segment. We are seizing this opportunity to convert Photos.com to a product tailored to consumers. The products will be limited to matted and framed images printed on paper and a variety of other surfaces. (We will not be selling loose prints, posters or merchandise).
How will consumers know about this new offering?
Consumers will have the ability to purchase some of their favorite images as wall decor on Photos.com. We have planned an aggressive marketing campaign targeted to consumers including social and affiliate marketing campaigns. In addition, visitors on gettyimages.com who see an image they would like to purchase as a print will now be directed to Photos.com via a "Buy" button that will display in the detail screen of any image that was selected for Photos.com. Our pricing will be reflective of the premium quality of the product, and contributors will earn their normal royalty for consumer products (details about pricing will be available within the next few weeks).
The market for wall decor is specialized and we know that not every great image is right for print customers. In order to showcase the best, most fitting imagery for this product, we are carefully curating the imagery that will be available on Photos.com. We will be choosing from amongst eligible images in Editorial and Creative (RM + RF) collections on Getty Images.com including Flickr, Photographer's Choice, and iStock E+ and Vetta.
Through site tracking and analysis, including information we glean from keyword searches, we are in a great position to analyze the activity we generate. We will leverage search trends to inform ongoing content curation as we build the business. We are very excited to begin to serve consumers and will provide a follow-up announcement with more detail and answers to your questions in the next few weeks.