More exciting moves in the stock photography industry! A few days ago, it was announced that EyeEm –a German stock photo marketplace and photography community– was bought by Swiss investment company New Value AG.
This is said to be a strategic investment for New Value's portfolio with focuses on creative digital businesses, and for EyeEm, the new ownership will help them grow their position as authentic stock imagery provider and photography hub for creatives to showcase their work and seize profitable opportunities.
Why EyeEm: Promising Numbers
Per the declarations from the companies, they consider EyeEm's market to be on the growing side and supported by favorable global trends. Namely, the rising demand from brands for authentic-styled imagery and the constant improvements in smartphone camera technology that enable users to produce high-quality content.
They are also backed by EyeEm's metrics, which 11 years after launch now include
- 45 million app downloads
- 8 million creators/photographers on board
- Over 130 million images on the platform
- Over 33 million images available for licensing
- Distribution partnerships with leading agencies Getty Images and Adobe Stock
What's In Store for EyeEm
This acquisition is pending on closing conditions and said to be concluded in the coming months. But for what we see and what the directors of both companies have expressed, the idea is to deepen EyeEm's reach within the premium, UGC visual market.
So far, EyeEm's focus has been divided between their marketplace and distribution partnerships, their photo-sharing community, a bidding board for commissioned work, and several creative initiatives that included contests, artists' awards and even physical galleries.
It'll be interesting to see their efforts be more to the licensing business, and what strategies they use for this. Stay tuned!