NEW YORK - FILMPAC, a company specializing in premium stock footage and production services, has announced a partnership with visual content leader Getty Images (NYSE: GETY) to offer its new lifestyle catalog on gettyimages.com. This collaboration aims to provide customers with access to cinema-quality scenes and clips that are filmed in America and embody authentic storytelling.
The partnership leverages FILMPAC's expertise in creating footage that caters to high-end commercial use, crafted by their in-house team of award-winning directors. Getty Images will utilize its extensive distribution network to make FILMPAC's content available to a global audience, including top-tier agencies and well-known brands.
Peter Orlowsky, Getty Images' SVP of Strategic Partnerships, emphasized the commitment to fulfilling the growing demand for genuine content that aligns with the quality expectations of their clientele. The addition of FILMPAC's offerings is expected to enrich Getty Images' repository with lifestyle footage that captures real emotions and character arcs.
Jordan Young, CEO of FILMPAC, expressed enthusiasm about the partnership's potential to blend powerful data and insights with high-level creative direction. The goal is to enhance the narratives their customers seek to convey through video content.
The latest FILMPAC collections, which are fully owned by the company, are now accessible on Getty Images for commercial and enterprise licensing. This development is based on a press release statement and further details can be found on the original content published by FILMPAC.
InvestingPro Insights
In the wake of the new partnership between FILMPAC and Getty Images (NYSE: GETY), it's noteworthy to consider Getty Images' current financial health and stock performance to understand the broader context of this collaboration. Getty Images has a market capitalization of $1.39 billion, reflecting its position in the visual content market. Despite recent challenges, with the stock price taking a significant hit over the last week, month, and three months, analysts predict a turnaround with net income expected to grow this year, as per InvestingPro Tips.
Furthermore, Getty Images is trading at a low P/E ratio relative to near-term earnings growth, standing at 19.11 when adjusted for the last twelve months as of Q1 2024. This suggests that the stock could be undervalued considering its growth prospects. Additionally, the company's gross profit margin remains strong at 72.63%, indicating efficient cost management relative to its revenue generation.
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