Getty Images Follows Jupitermedia's Lead
Most readers know that we had discussions with Getty Images a few months ago in which Getty was going to buy our images division for $388 million in cash. We did have a handshake on a deal, but I guess that does not mean much these days? And of course I learned in my old age never to trust anyone outside of my organization ever again.
In the end this exercise cost us $2 million and and a few months of not moving forward on various image and related projects. But we are moving forward with relish now and will soon have several interesting and perhaps significant items to report on.
While the deal did not go forward, Getty certainly liked the business plan as they have been moving rapidly to try to emulate our model. As they say: "copying is the sincerest form of flattery."
Yesterday Getty made the music move. Jonny Klein was quoted in the Wall Street Journal that he had wanted to do music since 1995. But of course Jupitermedia created the final impetus to move forward.
Jonny is going in a bit of a different direction then our music path. We have, as usual, gone after a wholly owned music strategy (which I belive is ultimately the wise way to go) whereas Getty is a distributor.
I still like Jonny a lot. It was interesting skirmishing with him for a few months. And there will be lots more skirmishes to come. All in all there is a bright future for both of our companies as digital content will become increasingly important in all types of mediums.
Finally it is nice to have Getty endorse our theories, concepts and gameplan. Getty is a hugely successful company going back 12 years. In only 3 years we have been able to become the "thought" leader in our industry. So watch us make our next moves which Getty is surely to follow.
Jupitermedia CEO Alan Meckler
Leave a comment