Why I won’t shed any tears over the collapse of Getty Images
Getty’s bankruptcy caps years of damage to editorial photography and freelance livelihoods; its collapse should inspire little sympathy
Getty Images has filed for bankruptcy, and the reporter does not plan to shed any tears. The reporter acknowledges that Getty abused photographers in the past, but the collapse of the company is not a personal loss. Getty offered a solution to budget concerns by providing a free monthly contract for photographers, allowing them to access a vast library of images.
However, this arrangement eventually led to the destruction of editorial photography and the demise of many freelance photographers. The reporter blames Getty's predatory business model for the downfall of the industry. The arrival of AI further exacerbated the situation, making everyone an expert in mediocre work. Getty attempted to revive its fortunes by merging with Shutterstock, but the deal fell through when regulators intervened.
The reporter laments the loss of editorial photography and the black hole it has created in the industry.
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