NEW YORK - Getty Images, a leading global provider of visual content, has renewed its partnership with Condé Nast, the esteemed media company, to represent and license the Condé Nast Collection. This collection includes a historic array of contemporary and vintage artworks from Condé Nast's prestigious brands dating back to 1892.
The collaboration leverages Getty Images' archival expertise, which encompasses the Hulton and Bettmann Archives, with Condé Nast's extensive fashion archives, considered among the most significant in the industry. The partnership ensures that over 25,000 images from Condé Nast's repertoire will be accessible to Getty Images' global clientele.
According to Getty Images CEO Craig Peters, the company is privileged to exclusively partner with Condé Nast to offer their historic archive, which documents the evolution and innovation within the fashion industry, to customers and partners worldwide.
The Condé Nast Collection boasts over 30,000 unique photographs, magazine covers, and illustrations from influential brands such as Vogue, Vanity Fair, GQ, Condé Nast Traveler, and Glamour, showcasing works from renowned photographers and illustrators like Arthur Elgort, Edward Steichen, and Irving Penn.
Condé Nast is recognized for its pioneering contributions to journalism, content, and entertainment, operating in 32 markets across the globe. The images from the Condé Nast Collection are now available for licensing through Getty Images' Editorial and Contour Collections.
This announcement is based on a press release statement from Getty Images.
InvestingPro Insights
As Getty Images continues to expand its portfolio through strategic partnerships like the one with Condé Nast, investors are taking note of the company's financial metrics and market position. With a market cap of approximately $1.52 billion, Getty Images (GETY) is a significant player in the visual content industry. The company's ability to secure exclusive partnerships reflects its competitive edge and brand value.
An important metric for investors is the company's price-to-earnings (P/E) ratio, which currently stands at 49.67. Still, when adjusted for the last twelve months as of Q1 2024, the P/E ratio becomes more attractive at 20.88, indicating potential for investment at a reasonable valuation relative to near-term earnings growth. This is complemented by a PEG ratio of 0.44 for the same period, suggesting that the company's earnings growth may not be fully reflected in its current share price.
InvestingPro Tips highlight that analysts are optimistic about Getty Images, predicting that net income is expected to grow this year. Moreover, the company is trading at a low P/E ratio relative to near-term earnings growth, which could signal a buying opportunity for value investors. On the flip side, it is important to note that the stock has experienced significant price volatility, with a three-month price total return of -22.18%, reflecting the stock's recent performance challenges.
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