Getty Images Holdings Inc ( (GETY) ) has released its Q4 earnings. Here is a breakdown of the information Getty Images Holdings Inc presented to its investors.
Getty Images Holdings Inc., a leading global visual content creator and marketplace, provides a wide range of content solutions through its brands Getty Images, iStock, and Unsplash, serving customers worldwide with powerful visual content from top photographers and videographers.
Getty Images reported its financial results for the fourth quarter and full year 2024, showcasing a return to growth driven by premium content and strategic partnerships. The company highlighted its focus on expanding exclusive content and leveraging expertise to drive sustainable customer value.
In the fourth quarter of 2024, Getty Images achieved a revenue of $247.3 million, marking a 9.5% increase year-over-year. The company also saw a significant growth in its annual subscriber revenue, which now represents 54.9% of total revenue. Despite a decline in creative revenue, editorial revenue saw a substantial increase of 19%. The company’s net income for the quarter was $24.7 million, with an adjusted EBITDA of $80.6 million, reflecting strong profitability.
For the full year 2024, Getty Images reported a revenue growth of 2.5%, with a net income of $39.5 million. The company’s editorial revenue increased by 7.9%, while creative revenue experienced a decline. The company also announced a merger agreement with Shutterstock, aiming to create a premier visual content company.
Looking ahead, Getty Images management remains optimistic about 2025, with a focus on a healthy subscription business and strong cash flow generation. The company is well-positioned for future growth, supported by its strategic initiatives and the upcoming merger with Shutterstock.