Getty Images GETY has recently secured a pivotal role in the sports arena by becoming the Official Photo Distribution and Licensing Provider of the College Football Playoff (CFP).
With this partnership, GETY solidifies its position as a premier platform for capturing, distributing and licensing high-quality visual content within the world of collegiate football.
This collaboration further amplifies Getty Images' extensive portfolio, showcasing its expertise in delivering top-tier visual narratives across a spectrum of sporting events.
As the exclusive distributor of CFP-owned imagery for editorial and commercial purposes, the company is poised to summarize the essence and excitement of the CFP, including its flagship National Championship and the forthcoming expanded 12-team playoff format.
This affiliation cements Getty Images' commitment to providing unparalleled coverage and access to captivating sports imagery, enhancing the visual storytelling experience for enthusiasts worldwide.
Getty Images Holdings, Inc. Price and Consensus
Getty Images Holdings, Inc. price-consensus-chart | Getty Images Holdings, Inc. Quote
Expanding Portfolio Aids Growth
Getty Image's appointment as the Official Photo Distribution and Licensing Provider of the College Football Playoff aligns with its plan to maintain a prominent role in capturing and distributing visual content across major sporting events.
This approach is further evident in Getty Images' renewal of its long-term agreement with the International Olympic Committee (IOC), solidifying its position as the Official Photographic Agency. With a dedicated team utilizing innovative technology, Getty Images aims to capture over 2.5 million images during the upcoming Olympic Games in Paris 2024.
Continuing its commitment to sports content creation, Getty Images renews its agreement as the Authorized Photographic Agency for the Rugby World Cup. This reaffirms its dedication to delivering an industry-leading service in capturing and distributing world-class sports content.
Expanding its reach and clientele, Getty Images formed a recent partnership with NVIDIA NVDA and BBC Studios.
The company recently partnered with NVIDIA to develop generative AI models, which will help users create a custom image or video in seconds.
In partnership with BBC Studios, Getty Images introduced an innovative platform, revolutionized the archive supply chain and provided customers with access to 57,000 additional programs from the BBC archives.
A robust portfolio and expanding clientele are expected to strengthen Getty Images' position, driving top-line growth.
However, macroeconomic headwinds and the ongoing pressures from the hollywood strikes and challenges in the agency business continues to remain a concern.
For 2023, GETY anticipates total revenues between $900 million and $910 million, indicating a decline of 1.8-2.8% from 2022 levels. The Zacks Consensus Estimate for revenues is pegged at $907.8 million, suggesting a drop of 2% year over year.
Zacks Rank & Stocks to Consider
GETY carries a Zacks Rank #3 (Hold), while NVIDIA has a Zacks Rank #2 (Buy).
GETY’s shares have declined 2.5% year to date compared with the Zacks Computer & Technology sector’s rally of 53%. NVDA stock has rallied 239.1% year-to-date.
Some better-ranked stocks in the broader technology sector are Ceridian HCM CDAY and Camtek CAMT, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
CDAY and CAMT shares have returned 6% and 258.6%, respectively, on a year-to-date basis.
Long-term earnings growth rates for Ceridian HCM and Camtek are pegged at 44.15% and 12.26%, respectively.
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