Benzinga - by Zacks, Benzinga Contributor.
Getty Images Holdings (NYSE: GETY) is expanding its footprint in the visual content creation sector through the recent launch of its latest event series, Create By Getty Images.
Formerly known as iStockalypse, Create By Getty Images provides an exclusive platform for Getty Images and iStock videographers and photographers worldwide to engage and create premium content for global platforms under the guidance of Getty Images' seasoned creative professionals.
The event, which is set to take place in Houston, TX, on May 18-19, focuses on capturing the essence of the city's cultural diversity and its emergence as a hub for clean technology startups.
With a focus on themes like Houstonian local life, sustainability and technological innovation, Create By Getty Images aims to equip creators with skills and knowledge to meet the visual needs of Getty Images and iStock's global clientele.
Getty Images Holdings, Inc. Price and Consensus
Getty Images Holdings, Inc. price-consensus-chart | Getty Images Holdings, Inc. Quote
The event also encourages creators to propose and receive funds for shoots, ensuring a diverse array of content that authentically represents the city's cultural diversity.
Creators will have the flexibility to arrange additional shoots across various locations in Houston, further enriching the event's content offerings.
Expanding Portfolio Aids Growth The latest move is in sync with Getty Images' commitment to empowering its global creator community and meeting the evolving visual needs of customers worldwide.
Expanding portfolio has been noteworthy. In March, Getty Images launched Enhanced Search, an advanced feature leveraging AI and machine learning to provide faster, more relevant visual content discovery through natural language queries on Getty Images and iStock platforms.
Getty Images also bolstered its portfolio through acquisitions. The company recently acquired Motorsport Images, enhancing its portfolio with more than 29 million images and 8,900 hours of video footage, reinforcing its position as a premier provider of visual content in the motorsport industry.
Expanding its creative tool offerings, Getty Images with NVIDIA (NASDAQ: NVDA) introduced Generative AI by iStock.
In January, GETY launched Generative AI by iStock, an affordable and legally protected tool for turning creative visions into content, leveraging NVIDIA Picasso and supported by $10K legal coverage, seamlessly integrating with iStocks vast library for various marketing needs.
Expanding its reach and clientele, Getty Images recently formed a partnership with the United Football League (UFL).
As part of the multi-year agreement, Getty Images was appointed as the Official Photographic Agency of the United Football League, promising high-quality imagery throughout the 12-week season, bolstering its extensive portfolio of sports partnerships worldwide.
A robust portfolio and expanding clientele are expected to strengthen Getty Images' position, thereby driving top-line growth.
For 2024, GETY anticipates total revenues between $928 million and $947 million, indicating a growth of 1.3-3.3% from 2023 levels. The Zacks Consensus Estimate for revenues is pegged at $942.53 million, suggesting an increase of 2.83% year over year.
The Zacks Consensus Estimate for earnings is pegged at 7 cents per share, moving down by a couple of pennies in the past 30 days.
Zacks Rank & Stocks to Consider Getty Images currently has a Zacks Rank #3 (Hold).
GETY's shares have declined 21.3% year to date compared with the Zacks Computer & Technology sector's rise of 13.6%.
Some better-ranked stocks in the broader technology sector are Bill Holdings (NYSE: BILL) and Bentley Systems (NASDAQ: BSY), each sporting Zacks Rank #1.
Bill Holdings shares have declined 23.1% in the year-to-date period. BILL's long-term earnings growth rate is currently projected at 23.64%.
Bentley Systems shares have declined 5.5% in the year-to-date period. BSY's long-term earnings growth rate is currently projected at 12%.
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