The Ledger
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Visual China's Corbis acquisition effectively gives Getty Images a monopoly
“Which now effectively puts a monopoly in the hand of Getty Images more or less, which is why the industry is very upset.”
Chelette: Buying a NYT or WSJ bestseller status costs $250k to $500k
“Well, it's, if it's only 60,000, the truth of the matter is you want a New York Times or Wall Street Journal bestseller, it's costing you between two and 50,000 and a half a million dollars.”
Chelette: Agency became industry leader licensing celebrity stories to 76 countries
“And suddenly, you know, we became the industry leader licensing these celebrity stories into 76 countries, and”
Bill Gates sold Corbis outright to a Chinese company in 2016
“Well, you know, Bill Gates has several businesses that he owns himself, and Corbis, that actually was just sold about six weeks ago to a Chinese company that was one of the businesses he owned himself outright.”
Chelette's photography agency reached $1M in revenue before its Corbis acquisition
“We had done, we were at about a million dollars in revenue.”
Chelette secured exclusive global licensing rights without actually owning the images
“I didn't own any of the images, but I had contracts that gave me the exclusive worldwide rights for a significant period of time to that content. And I was the only person allowed to resell or relicense these all over the world.”