Getty Images co-founder and CEO Jonathan Klein on how the photo industry needs new business models:
We need a share of the revenues generated around the imagery. The model: “Here’s a picture, give me $100 and you can use it” will still continue and will still continue to be a big part of the industry. But in three to five years – no way. In three or five years, we’ll be saying: “Here’s our imagery. If you generate revenues on it, around it, relating to it, we want a piece of it.” It’s a bit like the YouTube Content ID model. And we’ve got the technology, and are building that.