initial public offerings (IPOs) trading on American exchanges

Thursday, September 1, 2022

Getty Images (GETY) began trading on the NYSE on Mon 25 July 22

Getty Images Holdings, Inc. operates as a visual content creator and marketplace in the United States and internationally.
  • Sector(s): Communication Services
  • Industry: Internet Content & Information
  • Full Time Employees: 1,600 
  • Founded in 1995 
  • Based in Seattle, Washington.
On July 25, it completed a SPAC deal with CC Neuberger Principal Holdings II and began trading under the ticker GETY.

Jennifer Leyden SVP and CFO of Getty Images.

Aug 15, 22

Getty Images was founded in 1995 and listed on the Nasdaq National Market in July 1996. But it went private when acquired by private equity firm Hellman & Friedman in 2008. It was then bought by the Getty family in 2018. The company’s key customers are ad and graphic design companies, print and online media, and corporate marketing, communications, and in-house design departments.

In Q2, Getty Images reported revenue of $233.3 million, an increase of 4.1% year over year. Editorial revenue reached $82.9 million, up 15% year over year and 19.8% on a currency-neutral basis. Getty Images has photographers covering events all over the world, and you’ve probably seen their work in the news. I asked Leyden, CFO since January, but with the company since 2016 in various financial leadership roles, how the company deals with the risk of dispatching photographers covering the war in Ukraine, for example. 

The tech space
Getty Images’ library of owned content, includes “an archive with about 135 million images dating back to the beginning of photography,” which will be an asset when it comes to Web3.0 and NFT (non-fungible tokens), Leyden says. NFTs can be used to represent photos on the blockchain.

The company has formed a multi-year partnership with Candy Digital, a digital collectible company, to become the exclusive developer and marketplace for Getty Images NFTs. “We’ll start with some of our own content, and basically sell [that] content as NFTs with Candy Digital being marketplace,” Leyden says. I asked Getty Images if they will split revenue from image sales with Candy Digital, but was told: “the terms of the deal are not something we can disclose.”

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