Form 8-K - Current report
28 May 2024 - 10:38PM
Edgar (US Regulatory)
false
0001898496
0001898496
2024-05-28
2024-05-28
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
May 28, 2024
GETTY IMAGES HOLDINGS, INC.
(Exact Name of Registrant as Specified in Charter)
Delaware |
001-41453 |
87-3764229 |
(State
or Other Jurisdiction of
Incorporation) |
(Commission
File Number) |
(IRS
Employer
Identification No.) |
605 5th Ave S. Suite 400 Seattle, WA |
98104 |
(Address
of Principal Executive Offices) |
(Zip
Code) |
Registrant’s telephone number, including
area code: (206) 925-5000
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2.
below):
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e 4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | |
Trading Symbol(s) | |
Name of each exchange on which registered |
Class A Common Stock | |
GETY | |
New York Stock Exchange |
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company x
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act.
Item 7.01. Regulation FD Disclosures
On May 28, 2024, Getty Images Holdings, Inc.
(the “Company”) posted an investor presentation dated May 28, 2024 to its website at investors.gettyimages.com. The
presentation included a video providing an overview of the Company’s Generative AI by Getty Images tool powered by NVIDIA, including
anticipated additional capabilities. A copy of the presentation is included as Exhibit 99.1 to this Current Report on Form 8-K and
is incorporated herein by reference.
* * *
The information contained in Item 7.01 of this
Current Report on Form 8-K, including Exhibit 99.1 referenced in Item 7.01 above, is being furnished and shall not be deemed “filed”
for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject
to the liabilities of that section. Such information shall not be incorporated by reference into any registration statement or other document
pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference
in any such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: May 28, 2024
|
|
|
GETTY IMAGES HOLDINGS, INC. |
|
|
|
By: |
/s/ Kjelti Kellough |
|
Name: |
Kjelti Kellough |
|
Title: |
Senior Vice President, General Counsel, and Corporate Secretary |
Exhibit 99.1
| CONFIDENTIAL 1
With the Power of Elevated Visual Content
May 28, 2024
Move the World
469262742, wundervisuals |
| 2
1
3
4
Our Differentiated Value Proposition
Our AI Opportunity
Financial Highlights
2
2
The Power of Our Authentic Content
Getty Images is a Preeminent Global Content Creator and Marketplace
1454065258, Marco Bottigelli |
| 1 The Power of Our Authentic Content
1634256861, Willie B. Thomas 3 |
| We Believe in the Power of Visual Content
4 |
| 5
Visuals that Make People Think, Feel, Take Action, or Bear Witness to History |
| An Image That Instantly Tells a Story
1856938959, Pyrosky 6 |
| 7
A Shot That Expands Global Perspective and Transcends Language
463933990, AFP |
| 8
An Image that Transports You Back to a Moment
515612650, Bettmann |
| 9
Or The Big Moment Captured Through a Unique Lens
1450119456, Shaun Botterill – FIFA |
| Created with Generative AI by Getty Images 10
An AI-Generated Visual Sprung From the Depths of the Imagination |
| There’s a Story in Every Picture,
a Narrative in Every Frame
11 |
| 12 Source: 1 2023 study by eMarketer. 2 2019 study by Performics and Northwestern’s Medill School of Journalism. 3 2024 meta-analysis by We Are Social and Meltwater utilizing data from Kepios.
4 2023 polling by Gallup.
12
…Our Authentic, Differentiated, High Quality Content Stands Out More than Ever
> 200 x
Growth in People Actively Using
Social Media Globally Since 2000
(~62% of World Population)3
>7 Hours
Spent Daily Consuming
Digital Media on Average by
American Adults in 20231
>50 %
Of Consumers Prefer Visual
Content Over Text When Making
Purchase Decisions2
With the Omnipresence of Visual Storytelling…
~290 %
Increase in the Percentage of
Americans Who Place No Trust
in Mass Media Since 20004 |
| 2 Our Differentiated Value Proposition
2146684880, Gregory Shamus |
| 14
1 A Leading Industry Player with Powerful, Optimized Platform
2 Unique and Scaled Creative & Editorial Content Offering
3 Diversified and Loyal Customer Base
4 Subscription-Driven, High-Margin, Durable Financial Profile
5 Experienced Management Team Committed to De-Leveraging
6 Well-Positioned to Capitalize on AI Opportunity with Best-in-Class Product Partnerships
14
7 Poised to Benefit from Near-Term Macro Tailwinds
Investing in a Market Leader With an Enduring Competitive Edge
1203392571, donwogdo |
| 15
Solutions For a Full Spectrum of Content
Needs and Budgets that Mitigate Risk
Competitive Royalties
with Higher Tiers for Exclusive Content
Significant Audience
Reach & Scale
Creators of Visual Content Customers of Visual Content
Why Do Creators and Customers Consistently Choose Getty Images?
Depth, Breadth, and Quality of
Differentiated and Authentic Content
Access to Getty Images’ Exceptional Expertise in Visual Content for Crafting Compelling Stories |
| 16
Asset Type
Plans & Pricing
Go-to-Market
Asset Rights
Free & Low-Cost
Creative Stills
Capped /
No Indemnification
Primarily E-Commerce &
Online Service
Free (Ads), Subscriptions,
Paid API Integrations
Budget-Conscious
Stills, Video,
and Generative AI
Capped Indemnification With
Option for More Protection
Primarily E-Commerce &
Online Service
A La Carte, Subscriptions
Premium Creative & Editorial
(Stills, Music, Video, and
Generative AI)
Uncapped Indemnification &
Rights Customized to
Customer Needs
Premium Account
Management & Dedicated
Support
A La Carte, Subscriptions, &
Custom Assignments
Target Customer
SMBs, Prosumers,
Pro & Semipro Content
Creators
Enterprises SMBs
We Are Uniquely Positioned at the Center of the Creative Economy |
| 17 ~1/ 3 ~2/ 3 Powerful Creative & Editorial Content 34 % 66 % Editorial Creative Royalty-Free Photos, Illustrations, and Videos Underpinned by Exclusive Content Non-Exclusive Content Exclusive Content 110 Dedicated Staff Photographers & Videographers 80K+ Exclusive Contributors 70+ Exclusive Content Partners Serving a Broad & Tenured Customer Base 56 % 28 % 16 % Corporat ions Media Agencies 11 % 8 % 81 % 0-5 Years 6-10 Years 10+ Years That is Increasingly Subscription Driven 53 % 47 % Subscript ion A La Carte 557K+ Total Contributors Source: Company filings and internal financial records as of Dec-2023. Customer Breakdown (% of 2023 Revenue) Getty Images’ High Quality Revenue Model Custom Visual Content Shoots Generative AI Services 90+ Person Creative Insights Team News, Sports, & Entertainment One of the Largest Privately Held Image Archives Customer Tenure (% of 2023 Revenue) Subscription Penetration (% of 2023 Revenue) (% of 2023 Revenue) (% of 2023 Revenue)
|
| 18
High Quality Creative Library
with Breadth and Depth for Any
Use Case
Comprehensive Custom Content
Offering
Custom Market Research and In-House Visual Expertise
Via VisualGPS
~2/3
Of 2023 Revenue
From Creative
7,000+
Consumers Engaged Through the
VisualGPS Platform
Global Insights Team Collaborating
With Leading Partners
Creative: Introducing Our Differentiated and Authentic Offering
Unique and Robust Visual Collection of Royalty-Free Images and Videos, Available in a Variety of Formats and Styles
75K+
In-Network Exclusive Creators to Help
Brands Develop Custom Creative Content
Fueling Powerful Brand Messaging
for Companies Like
To Fully Realize Their Creative Visions
2.8B+
Annual Searches Across Getty
Images’ Library of Assets
Photos Illustrations Videos
Vectors Music
1402003572, Daniel Garrido |
| 19 |
| 1216206166, simonkr 20 |
| 21
The Power of Our Editorial Business ~1/3
Of 2023 Revenue
From Editorial
Unique Scope &
Scale of Coverage
Award-Winning
Specialists
70+ Premium
Content Partners
Comprehensive
Archive
Deep Expertise &
Capabilities
Exclusive
Rights & Access
160K+
Annual Events
Across News, Sports,
and Entertainment
110
Staff Photographers
and Videographers
1,400+
Industry Awards
135M+
Images Across
Geographies, Times,
and Verticals
~300
Members of Our
Dedicated Editorial
Team With Deep
Industry Experience
14+
Years of Experience
on Average
Bettmann Archive
Sygma
Gamma
1294931398, Win McNamee
Paris 2024
Summer Olympics |
| 22 |
| 23
Exclusive Content Underpins Competitive Differentiation and Drives ~2/3 of Revenue
For many customers, Getty Images is the preferred visual content partner because of our exceptional access
to exclusive content that cannot be obtained anywhere else.
In a world of infinite imagery, we help our customers stand out with elevated visual storytelling.
860880772, skynesher |
| 24
Craig Peters
Chief Executive Officer
Over 16 Years of Experience at Getty Images with Broader
Experience in Media, Sports, and Technology
2139231507, Ben Solomon
Michael Teaster
SVP, Chief of Staff
30 Years with
Getty Images
Mikael Cho
Co-Founder & CEO
of Unsplash
Founded Unsplash
in 2017 with Broad
Experience in
Media and
Entrepreneurship
Grant Farhall
Chief Product
Officer
13 Years with
Getty Images
Gene Foca
Chief Marketing
Officer
7 Years with
Getty Images.
Previously with
Fresh Direct,
Amazon and Time
Nate Gandert
Chief Technology
Officer
13 Years with
Getty Images
Kjelti Kellough
General Counsel
15 Years with
Getty Images
Jennifer Leyden
Chief Financial
Officer
8 Years with
Getty Images.
Prior CFO at
Physique 57 &
Previously with
Sony Music &
Columbia Records
Ken Mainardis
SVP, Global Head
of Content
20 Years with
Getty Images
Peter Orlowsky
SVP, Strategic
Development
27 Years with
Getty Images
Rebecca Swift
SVP, Creative
Content
6 Years With Getty
Images, Founder of
Getty Images’
Creative Research
Team
Lizanne Vaughan
Chief People
Officer
20 Years with
Getty Images
Daine Weston
SVP, Ecommerce
12 Years with
Getty Images
24
Experienced Management Team |
| 44 % 53 % 2019A 2023A 7.0 x 4.2 x 2019A 2023A $ 200 $ 244 2019A 2023A $ 245 $ 301 2019A 2023A 25 Since our 2019 financing, we have reoriented our strategy and made significant investments to position us for capital-light growth Progressed Key Initiatives Which Resulted in Tangible Business Enhancements Migration of End-to-End Platform to the Cloud Forged Leading Tech Partnerships to Cement Our AI Offerings Prioritization of Shift to High-Retention Subscriptions Successfully Exited Legacy Declining Products Restructured Sales and Support Functions Revamped Marketing Through SEO and iStock Growth Vector Consistent Deleveraging of Balance Sheet Adjusted EBITDA1 Unlevered Pre-Tax FCF 3 Subscription % of Mix1 Net Leverage1,4 Source: Company filings as of Dec-2023 and internal financial records. Note: Adjusted EBITDA, Unlevered Pre-Tax FCF, and Net Leverage are all non-GAAP measures. Please see "Disclaimer." Additional details regarding reconciliation of each of these metrics to the nearest GAAP measure are available on Pages 44-45. 1 Adjusted EBITDA is defined as Reported EBITDA adjusted for non-recurring items and certain retired products. 2019A Revenue excludes the effect of certain retired products; see Pages 44-45 for reconciliation. 2 Represents EBITDA margin ex. certain retired products. 3 Unlevered Pre-Tax FCF is defined as Adjusted EBITDA minus Capital Expenditures. 4 Net Leverage Ratio is calculated as Net Leverage / adjusted EBITDA; Net Leverage is the face value of debt less cash & cash equivalents. 5 Excludes discontinued products. 30 %2 33 %2 ~1 x de-leverage at IPO Our Strategic Transformation Positioned Us to Deliver Growth 5 |
| 31Our AI Opportunity
Created with Generative AI by Getty Images 26 |
| 27
Elevating Creativity
Commercially Scalable
Commercially Safe & Legally Protected
Compensates Creators End to End Solution
Created with Generative AI by Getty Images
Power of AI
Powerful
Pre-Shot Content
Powered by NVIDIA
Partnering with trusted industry leader, NVIDIA, our AI Generator pairs Getty Images' vast content and data with the
latest AI technology to unlock endless possibilities for ideation and efficient commercial content creation
+
AI Taps Into Our Competitive Differentiation and Provides New Paths for Growth
by |
| 28
Other Generative AI Model Services
Unclear Legal Protection and Data Sourcing
Potential Output Degradation
& Contamination With Unreleased Content
Not Trained on Getty Images High Quality Content
Fully Permissioned, Indemnified Content Generation
Expansive Library of Training Data With High Quality,
Exclusive Assets Added Each Quarter
Compensates Creators, on a Recurring Basis
Our Approach Allows Our Customers to Safely Tap Into the Potential of Generative AI
Through a Commercially Safe and Responsibly Built Solution
Quality of Outputs Limited to Quality of Inputs
by
Powered by NVIDIA
Trained on the Highest Quality Creative Visuals
(Preserving Pre-Shot / Editorial Integrity)
We Are Uniquely Positioned to Benefit From AI
Most Other Model Services Are Not Commercially Safe and Put Companies at Risk of Infringing Trademarks and Other Rights
While Also Providing Lower Quality Outputs |
| 29 |
| 30
Generative AI by Getty Images Builds on the Millions of Images in Our Vast Pre-Shot Library, Opening up Incredible Opportunities
for Brands and Marketers to Elevate Their Creativity and Expand Efficiencies Throughout the Creative Process. This Powerful
Combination of Carefully Crafted Imagery and the Latest AI Technology Allows Customers To:
Tap Into the Expertise of Our Creative Directors
and Content Creators
Turn Unique Ideas Into Original Content
Test, Learn and Iterate on Generated Content
Until it’s the Perfect Match for any Visual Need
Quickly Ideate on Trending Themes that
Connect with Consumers
Getty Images’ Unique Pre-Shot Library + Generative AI Technology
Combines to Create a Powerful Tool for Content Creation |
| 31
Our Proprietary Search Infrastructure
Natural Language Queries
Natural Language Processing (NLP) &
Machine Learning to Contextualize Queries
Augment Retrieval With Metadata
Attached to Each Asset
Dynamic Image Placement Algorithms to
Improve Result Relevance
Enhanced Search Available
Cross-Platform Via API
Search in Action
Providing More Relevant Search Results Improves User Outcomes & Retention
a group of friends in a sunny environment Creative Images Search by image
or video
NLP & Metadata Matching
Outdoors
Friendship Group of People
Friendship Sunny People Joy
Friendship Sunny Summer
In Addition to Our Generative AI, We Are Embedding AI
Across Some of Our Other Capabilities |
| 32
Our Core Business Remains Healthy in the Age of AI
LTM Total Purchasing Customers
(Thousands)
46 %
49 %
53 %
2021 2022 2023
LTM Total Active Annual
Subscribers (Thousands)
Subscriptions as a %
of Total Revenue
LTM Paid Download Volume
(Millions)
Source: Company filings as of Dec-2023. 1 Represents currency neutral year-over-year growth rate. 2 Excludes 2020 and 2023 growth figures.
Our core KPIs remain strong, with stable fundamentals and increasing subscription penetration
Purchasing
customer
decline due
to shift to
committed
subscriptions
75
129
236
2021 2022 2023
89
95 95
2021 2022 2023
794 835 799
2021 2022 2023
On a currency neutral basis, revenue growth across Creative and Editorial segments has remained largely flat or positive
$ 597 $ 585 $ 579
2021 2022 2023
Creative Revenue (Millions)
$ 307 $ 326 $ 321
2021 2022 2023
Editorial Revenue (Millions)
2023 performance impacted by adverse impact of
Hollywood strikes. Outside of 2020 (COVID) and 2023
(strikes), the business has consistently grown over the
L10Y, with average annual CN growth of ~7.5%2
9.5 %1 2.7 %1
(0.6)%1 12.4 %1 11.5 %1
(1.2)%1 |
| 51Financial Highlights
1170614184, Ducan Raban/Popperfoto |
| 34
Stable Revenue & Long-Term Growth Strong Cash Generation Customer Acquisition Efficiency Consistent. High Margin Profile
Total Revenue1 Unlevered Pre-Tax Free Cash Flow1
71 % 73 %
2019 2023
Gross Margin
Source: Company filings as of Dec-2023 and internal financial records. Note: Unlevered Pre-Tax FCF is a non-GAAP measure. Please see “Disclaimer.” Additional details
regarding reconciliation of this metric to the nearest GAAP measure are available on Pages 44-45. Please refer to subsequent pages for metric methodology. 1 Figures in
millions. 2 2019 CAC figure reflects changes made to our customer account aggregation in September 2022. Under prior reporting, 2019 CAC would have been $160.
Customer Acquisition Cost2
The Enduring Strength of the Getty Images Platform
$ 200 $ 244
2019 2023
$ 823 $ 917
2019 2023
$ 176
$ 109
2019 2023 |
| 459 503 516 532 597 585 579
276
296 294 266
14 307 326 321
16 13 13
15 15 17
$749
$815 $823 $811
$919 $926 $917
FY17A FY18A FY19A FY20A FY21A FY22A FY23A
Creative Editorial Other
% Growth:
Revenue1
Note: Dollars in millions. Revenue for FY17 – FY20 excludes certain retired products; see Pages 44-45 for the reconciliation.
1 Stronger US Dollar relative to foreign currencies, in particular the Euro and GBP, reduced 2022 revenue growth by 490 bps.
% Subscription:
$532
$583 $588 $587
$671 $671 $666
71% 72% 71% 72% 73% 73% 73%
FY17E FY18A FY19A FY20A FY21A FY22A FY23A
% margin
Revenue Less Cost of Revenue
9%
39%
1%
44%
(2%)
46%
13%
36% 46%
3%
($ in millions)
1%
49%
35
1
(1%)
53%
Revenue1
($ in Millions)
Revenue Less Cost of Revenue
($ in Millions)
Summary Financial Overview
COVID
Impacted
Hollywood Strike
Impacted
COVID
Impacted
Hollywood Strike
Impacted |
| $ 103
$ 158
$ 200
$ 226
$ 260 $ 246 $ 244
FY17A FY18A FY19A FY20A FY21A FY22A FY23A
$167
$211
$245
$271
$309 $305 $301
22%
26%
30%
33% 34% 33% 33%
FY17A FY18A FY19A FY20A FY21A FY22A FY23A
% margin
Note: Adjusted EBITDA and Unlevered Pre-Tax FCF are non-GAAP measures. Please see “Disclaimer.” Additional details regarding reconciliation of each of these metrics to the nearest GAAP measure are available on Pages 44-45. 1 Adjusted EBITDA is defined
as Reported EBITDA adjusted for non-recurring items and certain retired products. Adjusted EBITDA margin is defined as the ratio of Adjusted EBITDA to Revenue, excluding certain retired products.
2 FY21 and FY22 Adjusted EBITDA include ~$4 and $8 million
of public company costs (BOD, D&O, additional headcount and audit and professional fees) respectively. FY22 and FY23 Adjusted EBITDA exclude ~$1.1 million and ~$6.4 million, respectively, of previously reclassified legal fees associated with loss on litigation.
3 Unlevered Pre-Tax Free Cash Flow is defined as Adjusted EBITDA minus Capital Expenditures. 4
Includes one-time time Capital Expenditures items of ~$7 million related to Salesforce Implementation and Platform Unification in 2017, and ~$4 million related to
Cloud Migration in 2018. 5 Based on GAAP Capital Expenditures divided by revenue excluding revenue for certain retired products.
2
7
$64
8.6%
Capital Expenditures4:
Capital Expenditures % of Revenue5:
36
6.4%
$52
5.5%
$46
5.5%
$45
5.4%
$49
6.4%
$59
6.2%
$57
2 2
Adj. EBITDA1
($ in Millions)
Unlevered Pre-Tax Free Cash Flow3
($ in Millions)
Summary Financial Overview |
| 656
688 672
715
794
835
799
FY17A FY18A FY19A FY20A FY21A FY22A FY23A
30 45 53 59
75
129
236
FY17A FY18A FY19A FY20A FY21A FY22A FY23A
98.7% 101.3% 97.5%
87.9%
104.5% 100.1% 92.4%
FY17A FY18A FY19A FY20A FY21A FY22A FY23A
Note: The Company launched Unsplash+ during the three months ended December 31, 2022. This new Unsplash subscription is included within these KPI’s from the launch date forward. 1 Based on billed revenue. 2
Excludes downloads from Editorial Subscriptions, Editorial feeds, and certain API structured deals, including bulk unlimited deals. Excludes downloads starting in Q3’22 tied to a two-year deal signed with Amazon
in July 2022, as the magnitude of the potential download volume over the deal term could result in significant fluctuations in this metric without corresponding impact to revenue in the same period.
( in thousands)
57
68
84 83 89 95 95
FY17A FY18A FY19A FY20A FY21A FY22A FY23A
37
COVID
Impacted
Total Purchasing Customers1
(in Thousands)
Annual Paid Download Volume
(in Millions) LTM Annual Subscriber Revenue Retention
COVID
Impacted
Driven by
growth in
smaller
subs
Total Active Annual Subscribers
(in Thousands)
Consistent Growth Across Key Performance Indicators
2 |
| 1 A measure of the percentage of total paid customer downloaders who are video downloaders. The underlying calculation of this metric was changed vs. previously reported metrics. This change was
made to exclude the impact of downloader activity from our free trial subscriptions which are skewed entirely to stills-only content.
535
322
362
400 426
458
497
FY17A FY18A FY19A FY20A FY21A FY22A FY23A
7
9
12
17
20
24
28
FY17A FY18A FY19A FY20A FY21A FY22A FY23A
14.1%
7.9%
9.2%
10.3% 10.9%
12.1%
13.1%
FY17A FY18A FY19A FY20A FY21A FY22A FY23A
38
Video Attachment Rate1
Image Collection
(in Millions)
Video Collection
(in Millions)
Consistent Growth Across All Key Performance Indicators |
| ~4.2 x
~2.5x – 3.0x
2023 Target
Pay Down Debt to De-lever the
Business
Investment in Marketing
to Drive Growth
Investment in Data
Capabilities and Technology
to Drive Product Innovation
Opportunistically
Evaluate M&A
Balance Capital Structure
and Shareholder Return
Priorities for Cash
Flow Spend
Note: Unlevered Pre-Tax FCF and Adjusted EBITDA are non-GAAP measures. Please see “Disclaimer.” Additional details regarding reconciliation of each of these metrics to the nearest GAAP measure
are available on Pages 44-45. 1 Unlevered Pre-Tax Free Cash Flow is defined as Adjusted EBITDA minus Capital Expenditures.
2 Net Leverage is the face value of total debt less cash & cash
equivalents at December 31, 2023. 3 Adjusted EBITDA for twelve months ending December 31, 2023. 4 2022 and 2023 Unlevered Pre-Tax Free Cash Flow was negatively impacted due to EBITDA
Decline. 5 Net Leverage Target based on assumption that Company continues to generate strong free cash flow and uses excess cash flow to pay down debt.
Expect to be within target leverage range
within ~24 – 36 months5
Expect continued long-term growth, driven by:
• Annual Adjusted EBITDA growth
• Annual cash interest savings on $370mm incremental debt
paydowns since August 2022 of ~$37mm
• Interest savings from further leverage reduction
and potential refinancing of debt structure to offset
the rise in interest rates
39
4 4
Unlevered Pre-Tax Free Cash Flow1
($ in Millions) Target Net Leverage / Adjusted EBITDA2,3
$ 103
$ 159
$ 200
$ 226
$ 260 $ 245 $ 244
FY17A FY18A FY19A FY20A FY21A FY22A FY23A
Capital Structure and Cash Flow Priorities |
| ($mm) Q1 2024 Q1 2023
Revenue $ 222 $ 236
% YoY Reported Growth (5.7)% 2.0 %
⠀Revenue less Cost of Revenue⠀ $ 162 $ 172
Margin % 72.9 % 73.1 %
Adjusted EBITDA $ 7 0 $ 7 6
Adjusted EBITDA as % of Total Revenue 31.6 % 32.4%
Unlevered Pre-Tax Free Cash Flow1
$ 5 6 $ 6 1
40
Q1 2024: Fading Residual Headwinds Position Us For Growth For the Rest of 2024
Q1 2024 Summary Financial Overview
($ in Millions)
Q1 2024 Select KPIs
Q1 2024 Q1 2023
LTM Total Purchasing Customers (thousands) 769 829
LTM Growth (%) (7.2)%
LTM Total Active Annual Subscribers (thousands) 262 147
LTM Growth (%) 78.2 %
LTM Paid Download Volume (millions) 9 5 9 5
LTM Growth (%) 0.0 %
Note: Unlevered Pre-Tax FCF and Adjusted EBITDA are non-GAAP measures. Please see “Disclaimer.” Additional details regarding reconciliation of each of these metrics to the nearest GAAP measure
are available on Pages 44-45. 1 Unlevered Pre-Tax Free Cash Flow calculated as Adjusted EBITDA – Capital Expenditures.
• Q1’2024 results continue to demonstrate the consistency and resiliency of
our business, despite the residual effects of last year’s Hollywood strikes
• Profitability: Margins remain steady with gross margin of ~73% and Adjusted
EBITDA margin of ~32%, demonstrating our continued fiscal discipline
• 2024 Outlook: We remain steadfastly confident in our ability to return to
growth in 2024 as our headwinds dissipate and we flip the calendar to a
robust Editorial season in the second half of the year
• Decline in purchasing customers driven by residual headwinds in the agency
segment and a continued shift from a-la-carte purchases to committed
subscriptions
• Stable Paid Download Volume reflects the enduring demand for our content
from our global customer base
• 6
th consecutive quarter of YoY Active Annual Subscriber growth >50%, with
YoY growth of 78.2% in Q1, with the majority of growth stemming from our e-commerce subscriptions and new customer acquisition |
| 41
Hollywood Writers and Actors
Strike Resolved
Major 2024 Editorial Events
Summer Olympic Games
U.S. Presidential Election
Copa América
UEFA European Championship
Macro Improvements & Tailwinds
AI Revenue Streams
Corporate Segment Expansion
Video Consumption
International Expansion
Long-Term Growth Opportunities
Poised for Return to Growth |
| 42
Thank You
1609807673, d3sign |
| Appendix
Created with Generative AI by Getty Images |
| ($mm) 2017A 2018A 2019A 2020A 2021A 2022A 2023A
LTM as of
Q1 2024A
Reported Revenues $ 838 $ 868 $ 847 $ 814 $ 919 $ 926 $ 917 $ 903
(-) Retired Products (89) (53) (24) (3) 0 0 0 0
Revenue (Excl. Retired Products) $ 749 $ 815 $ 823 $ 811 $ 919 $ 926 $ 917 $ 903
Adjusted Revenue Growth % 9 % 1 % (1)% 1 3 % 1 % (1)%
Reported Net Income / (Loss) $(109) $(57) $(53) $(37) $ 117 $(78) $ 2 0 $ 3 0
Net Income Margin (13)% (7)% (6)% (5)% 1 3 % (8)% 2 % 3 %
(+) D&A $ 212 $ 119 $ 106 $ 9 9 $ 100 $ 9 3 $ 7 8 $ 7 3
(+) Net Interest Expense 142 142 135 125 122 117 127 129
(+/-) Income Tax Expense (Benefit) (36) 1 9 3 0 1 0 1 9 4 4 (46) (39)
Reported EBITDA $ 208 $ 223 $ 218 $ 196 $ 359 $ 177 $ 178 $ 194
(+) Equity-Based Compensation 1 3 1 0 8 8 6 9 3 8 4 1
(+) Restructuring Costs 1 0 1 7 7 9 0 (1) 0 0
(+) Loss on Debt Ext. & Modification Expenses 0 0 7 (0) 0 3 0 0
(+) Loss on Litigation, Net of Recovery 0 0 0 0 0 1 5 6 5 8
(+) Non-Recurring Operating Expenses 6 5 1 0 0 161 2 4
(+/-) FX Gains / Losses & Other Expenses (6) (6) 1 9 5 9 (56) (45) 2 8 (1)
(-) Retired Products (65) (38) (16) (2) 0 0 0 0
Adjusted EBITDA $ 167 $ 211 $ 245 $ 271 $ 309 $ 305 $ 301 $ 295
Adjusted EBITDA Growth 2 6 % 1 6 % 1 1 % 1 4 % (1)% (1)%
Adjusted EBITDA Margin 2 2 % 2 6 % 3 0 % 3 3 % 3 4 % 3 3 % 3 3 % 3 3 %
Total Debt $ 2,374 $ 2,354 $ 1,835 $ 1,829 $ 1,772 $ 1,434 $ 1,401 $ 1,386
(-) Cash & Cash Equivalents (87) (89) (113) (156) (186) (98) (137) (134)
Total Net Leverage $ 2,287 $ 2,265 $ 1,721 $ 1,672 $ 1,585 $ 1,336 $ 1,264 $ 1,252
Net Leverage / Adjusted EBITDA 13.7 x 10.7 x 7.0 x 6.2 x 5.1 x 4.4 x 4.2 x 4.2 x
Net Leverage / Reported EBITDA 11.0 x 10.2 x 7.9 x 8.5 x 4.4 x 7.6 x 7.1 x 6.5 x
Adjusted EBITDA $ 167 $ 211 $ 245 $ 271 $ 309 $ 305 $ 301 $ 295
(-) Capital Expenditures (64) (52) (46) (45) (49) (60) (57) (56)
Unlevered Pre-Tax Free Cash Flow $ 103 $ 158 $ 200 $ 226 $ 260 $ 245 $ 244 $ 239
Note: Unlevered Pre-Tax FCF and Adjusted EBITDA are non-GAAP measures. Please see “Disclaimer”.
1 Represents the removal of the historical revenue and cost of revenue as a % of revenue for certain retired products (e.g., Rights Managed, Thinkstock, Unauthorized Use).
2 Non-recurring expense related to the impairment of long-lived assets, accretion on leases, change in fair value of contingent consideration and income / loss from equity investments.
3
Includes Gain/Losses on FX Currency, Gain/Losses on FV of Hedge Derivatives and Interest Income from Investments.
44
2
3
1
1
GAAP vs. Non-GAAP Reconciliation |
| ⠀2021⠀ ⠀2021⠀ ⠀2021⠀ ⠀2021⠀ ⠀2022⠀ ⠀2022⠀ ⠀2022⠀ ⠀2022⠀ ⠀2023⠀ ⠀2023⠀ ⠀2023⠀ ⠀2023⠀ ⠀2024⠀
⠀Q1⠀ ⠀Q2⠀ ⠀Q3⠀ ⠀Q4⠀ ⠀Q1⠀ ⠀Q2⠀ ⠀Q3⠀ ⠀Q4⠀ ⠀Q1⠀ ⠀Q2⠀ ⠀Q3⠀ ⠀Q4⠀ ⠀Q1⠀
Total Creative $ 145 $ 148 $ 148 $ 156 $ 148 $ 147 $ 145 $ 145 $ 146 $ 141 $ 145 $ 146 $ 139
% YoY Reported Growth 16 % 17 % 8 % 7 % 3 % (1)% (2)% (7)% (1)% (4)% (0)% 0 % (5)%
Total Editorial $ 7 0 $ 7 2 $ 8 4 $ 8 0 $ 7 9 $ 8 3 $ 8 2 $ 8 2 $ 8 5 $ 8 0 $ 8 0 $ 7 6 $ 7 9
% YoY Reported Growth 1 % 28 % 24 % 10 % 12 % 15 % (3)% 3 % 8 % (3)% (2)% (8)% (6)%
Total Other $ 3 $ 4 $ 4 $ 4 $ 4 $ 4 $ 3 $ 4 $ 5 $ 4 $ 4 $ 4 $ 4
% YoY Reported Growth 22 % 15 % 45 % 7 % 11 % (6)% (19)% 14 % 18 % 11 % 22 % 7 % (12)%
Total Revenue $ 218 $ 224 $ 237 $ 239 $ 231 $ 233 $ 230 $ 231 $ 236 $ 226 $ 229 $ 226 $ 222
% YoY Reported Growth 10 % 21 % 13 % 8 % 6 % 4 % (3)% (3)% 2 % (3)% (1)% (2)% (6)%
Net Income (Loss) $ 30 $ 13 $ 34 $ 42 $ 25 $ 39 $(118) $(23) $ 3 $(4) $(18) $ 39 $ 14
(+) D&A 25 26 25 25 25 24 24 20 20 21 21 16 15
(+) Net Interest Expense 31 31 31 30 30 30 29 28 30 32 32 32 33
(+/-) Income Tax Expense / (Benefit) 14 (3) 9 (0) 13 15 11 5 3 3 5 (58) 11
Reported EBITDA $ 9 9 $ 6 5 $ 9 8 $ 9 6 $ 9 3 $ 108 $(54) $ 3 0 $ 5 7 $ 5 1 $ 4 0 $ 3 0 $ 7 2
(+) Equity-Based Compensation $ 2 $ 2 $ 2 $ 2 $ 2 $ 1 $ 3 $ 3 $ 6 $ 1 2 $ 9 $ 1 0 $ 9
(+) Restructuring Costs 0 0 0 0 0 0 0 0 0 0 0 0 0
(+) Loss on Debt Ext. & Modification Expenses 0 0 0 0 0 0 3 0 0 0 0 0 0
(+) Loss on Litigation, Net of Recovery 0 0 0 0 0 0 0 1 0 6 46 4 2
(+) Non-Recurring Operating Expenses (1) 0 (0) 1 3 1 162 (5) 0 0 (0) 1 3
(+/-) FX Gains / Losses & Other Expenses (25) 3 (18) (16) (19) (36) (36) 46 13 3 (15) 27 (16)
Total Adjusted EBITDA $ 7 6 $ 7 0 $ 8 2 $ 8 2 $ 7 8 $ 7 4 $ 7 8 $ 7 6 $ 7 6 $ 7 3 $ 8 0 $ 7 2 $ 7 0
Adjusted EBITDA as % of Total Revenue 35 % 31 % 34 % 34 % 34 % 32 % 34 % 33 % 32 % 32 % 35 % 32 % 32 %
Subscriptions
Subscription Revenue as % of Total Revenue 44.8% 44.3% 47.1% 46.1% 48.3% 48.2% 49.4% 50.2% 50.7% 51.8% 55.9% 54.5% 55.4%
Historical Quarterly Financials & Reconciliations
45
Note: 1 Beginning in the third quarter 2023 reporting period, the Company reclassified historical legal fees associated with our warrant litigation from “Selling, general and administrative expenses” to
“Loss on litigation” within the Condensed Consolidated Statements of Operations, and revised its Adjusted EBITDA calculation. 2 Fair value adjustments for our swaps and foreign currency exchange
contracts, foreign exchange gains (losses) and other insignificant non-operating related expenses.
1
2 |
| 46
Disclaimer
This presentation has been prepared for informational purposes only and is being provided by Getty Images Holdings, Inc. (the “Company”) and its consolidated subsidiaries, which includes Getty Images, Inc. for
use by a limited number of parties. By accepting delivery of this presentation and/or attending the meeting where this presentation is made, you agree: (1) to keep strictly confidential the contents of this
presentation and such other information and not to disclose such document, the contents thereof or any such information to any third party; (2) not to copy all or any portion of this presentation, or any such other
information; and (3) to return this presentation and all such other documents and information to the Company upon its request.
Any unauthorized use of this presentation is strictly prohibited. By accepting delivery hereof, you and any person reviewing this presentation agree that you will hold its contents and all related documents in the
strictest confidence and that you and they will not utilize such information to the detriment of the Company or for any purpose other than as set forth herein.
The information contained in this document (a) speaks only as of the date hereof and is subject to change without notice, (b) does not purport to contain all the information that may be necessary or desirable to
fully and accurately evaluate an investment in the Company and (c) is not to be considered as a recommendation by the Company that any person make an investment in the Company These materials are not, and
in no circumstances are they to be construed as, a prospectus, an offering memorandum, an advertisement, or a public offering of securities. In addition, these materials do not form part of any offer or invitation to
sell or issue, or any solicitation of any offer to purchase or subscribe for, or any offer to underwrite or otherwise acquire any securities of the Company or any other securities, nor shall they or any part of them nor
the fact of their distribution or communication form the basis of, or be relied on in connection with, any contract, commitment or investment decision in relation thereto, nor does it constitute a recommendation
regarding the securities of the Company. No securities regulatory authority or similar authority has reviewed or in any way passed upon the accuracy or adequacy of such documents or the merits of any securities
issued by the Company and any representation to the contrary is a criminal offense.
No reliance may be placed for any purposes whatsoever on the information contained in these materials or on their completeness. No representation or warranty, express or implied, is given by or on behalf of the
Company, any agent of the Company or any of such persons’ directors, officers or employees or any other person as to the accuracy or completeness of the information contained in these materials and no liability
whatsoever is accepted by the Company, any agent of the Company or any of such persons’ directors, officers or employees nor any other person for any loss how so ever arising, directly or indirectly, from any
use of such information or otherwise arising in connection therewith.
If any recipient of these materials wishes to make an investment in the Company (each such recipient, a “prospective investor”) such prospective investor must rely on their own examination of the Company,
including the merits and risks involved. Prospective investors should not construe anything in this presentation as investment, legal or tax advice. Each prospective investor should consult its own investment,
legal, tax and other advisers regarding the financial, legal, tax and other aspects of any investment in the Company.
This presentation includes market and industry data which was obtained from various publicly available sources and other independent third-party sources. Although the Company believes such sources to be
reliable, the Company has not independently verified any of the data obtained from these sources, analyzed or verified the underlying reports relied upon or referred to by such sources, or ascertained the
underlying assumptions relied upon by such sources. The Company does not make any representation as to the accuracy or completeness of such information. |
| 47
Disclaimer (Cont’d)
Forward-Looking Statements
Certain statements included in this Presentation that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform
Act of 1995. Forward-looking statements may be identified by the use of the words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “project,”
“forecast,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook,” “target” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding estimates and forecasts of other financial and performance metrics and projections of market opportunity. These statements are based on
various assumptions, whether or not identified in this report, and on the current expectations of our management and are not predictions of actual performance. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and
circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond our control.
These forward-looking statements are subject to a number of risks and uncertainties, including: our inability to continue to license third-party content and offer relevant quality and diversity of content to satisfy
customer needs; our ability to attract new customers and retain and motivate an increase in spending by its existing customers; the user experience of our customers on its websites; the extent to which we are
able to maintain and expand the breadth and quality of our content library through content licensed from third-party suppliers, content acquisitions and imagery captured by our staff of in-house photographers;
the mix of and basis upon which we license our content, including the price-points at, and the license models and purchase options through, which we license our content; the risk that we operate in a highly
competitive market; the risk that we are unable to successfully execute our business strategy or effectively manage costs; our inability to effectively manage our growth; our inability to maintain an effective
system of internal controls and financial reporting; the risk that we may lose the right to use “Getty Images” trademarks; our inability to evaluate our future prospects and challenges due to evolving markets and
customers’ industries; the legal, social and ethical issues relating to the use of new and evolving technologies, such as Artificial Intelligence (“AI”), including statements regarding AI and innovation momentum,
including our ability to expand our AI product offerings as described herein or at all; the risk that our operations in and continued expansion into international markets bring additional business, political,
regulatory, operational, financial and economic risks; our inability to adequately adapt our technology systems to ingest and deliver sufficient new content; the risk of technological interruptions or cybersecurity
breaches, incidents, and vulnerabilities; the risk that any prolonged strike by, or lockout of, one or more of the unions that provide personnel essential to the production of films or television programs, such as the
2023 strike by the writers’ union and the actors' unions, could further impact our entertainment business; the inability to expand our operations into new products, services and technologies and to increase
customer and supplier awareness of new and emerging products and services, including with respect to our AI initiatives; the loss of and inability to attract and retain key personnel that could negatively impact
our business growth; the inability to protect the proprietary information of customers and networks against security breaches and protect and enforce intellectual property rights; our reliance on third parties; the
risks related to our use of independent contractors; the risk that an increase in government regulation of the industries and markets in which we operate could negatively impact our business; the impact of
worldwide and regional political, military or economic conditions, including declines in foreign currencies in relation to the value of the U.S. dollar, hyperinflation, higher interest rates, devaluation, the impact of
recent bank failures on the marketplace and the ability to access credit and significant political or civil disturbances in international markets where we conduct business; the risk that claims, judgements, lawsuits
and other proceedings that have been, or may be, instituted against us or our predecessors could adversely affect our business; the inability to maintain the listing of our Class A common stock on the New York
Stock Exchange; volatility in our stock price and in the liquidity of the trading market for our Class A common stock; the lingering effect of the COVID-19 pandemic; changes in applicable laws or regulations; the
risks associated with evolving corporate governance and public disclosure requirements; the risk of greater than anticipated tax liabilities; the risks associated with the storage and use of personally identifiable
information; earnings-related risks such as those associated with late payments, goodwill or other intangible assets; our ability to obtain additional capital on commercially reasonable terms; the risks associated
with being an “emerging growth company” and “smaller reporting company” within the meaning of the U. S. securities laws; risks associated with our reliance on information technology in critical areas of our
operations; our inability to pay dividends for the foreseeable future; the risks associated with additional issuances of Class A common stock without stockholder approval; costs related to operating as a public
company; and other risks and uncertainties identified in “Item 1A. Risk Factors” of our most recently filed Annual Report on Form 10-K. If any of these risks materialize or our assumptions prove incorrect, actual
results could differ materially from the results implied by these forward-looking statements. |
| 48
Disclaimer (Cont’d)
These and other factors that could cause actual results to differ from those implied by the forward-looking statements in this Presentation are more fully described under the heading “Item 1A. Risk Factors” in our
most recently filed Annual Report on Form 10-K. The risks described under the heading “Item 1A. Risk Factors” are not exhaustive. New risk factors emerge from time to time and it is not possible to predict all
such risk factors, nor can we assess the impact of all such risk factors on our business or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained
in any forward-looking statements. All forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing cautionary statements. We undertake
no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Non-GAAP Financial Measures
In order to assist investors in understanding the core operating results that our management uses to evaluate the business and for financial planning, we present the following non-GAAP measures: (1) Adjusted
EBITDA, (2) Adjusted EBITDA Margin, (3) Unlevered Pre-Tax Free Cash Flow, and (4) Net Leverage. The presentation of this financial information is not intended to be considered in isolation or as a substitute for,
or superior to, the financial information prepared and presented in accordance with U.S. GAAP.
The Company believes that these measures are relevant and provide useful information widely used by analysts, investors and other interested parties in our industry to provide a baseline for evaluating and
comparing our operating performance, and in the case of free cash flow and levered pre-tax free cash flow, our liquidity results. We also evaluate our revenue on an as reported (U.S. GAAP) and currency neutral
basis. We believe presenting currency neutral information provides valuable supplemental information regarding our comparable results, consistent with how we evaluate our performance internally.
Please see Pages 25 and 36 for definitions of such non-GAAP measures and pages 44 and 45 for reconciliations of these non-GAAP measures to the most comparable GAAP measures. Certain totals, subtotals and
percentages may not reconcile due to rounding. |
v3.24.1.1.u2
X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
+ References
+ Details
Name: |
dei_EntityAddressAddressLine1 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Definition
+ References
+ Details
Name: |
dei_EntityAddressCityOrTown |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCode for the postal or zip code
+ References
+ Details
Name: |
dei_EntityAddressPostalZipCode |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the state or province.
+ References
+ Details
Name: |
dei_EntityAddressStateOrProvince |
Namespace Prefix: |
dei_ |
Data Type: |
dei:stateOrProvinceItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate if registrant meets the emerging growth company criteria.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityEmergingGrowthCompany |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
+ Details
Name: |
dei_EntityFileNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fileNumberItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
+ References
+ Details
Name: |
dei_EntityIncorporationStateCountryCode |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarStateCountryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityTaxIdentificationNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:employerIdItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLocal phone number for entity.
+ References
+ Details
Name: |
dei_LocalPhoneNumber |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 13e -Subsection 4c
+ Details
Name: |
dei_PreCommencementIssuerTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 14d -Subsection 2b
+ Details
Name: |
dei_PreCommencementTenderOffer |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTitle of a 12(b) registered security.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b
+ Details
Name: |
dei_Security12bTitle |
Namespace Prefix: |
dei_ |
Data Type: |
dei:securityTitleItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the Exchange on which a security is registered.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection d1-1
+ Details
Name: |
dei_SecurityExchangeName |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarExchangeCodeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Section 14a -Number 240 -Subsection 12
+ Details
Name: |
dei_SolicitingMaterial |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
+ References
+ Details
Name: |
dei_TradingSymbol |
Namespace Prefix: |
dei_ |
Data Type: |
dei:tradingSymbolItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Securities Act -Number 230 -Section 425
+ Details
Name: |
dei_WrittenCommunications |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
Getty Images (NYSE:GETY)
Historical Stock Chart
From Dec 2024 to Jan 2025
Getty Images (NYSE:GETY)
Historical Stock Chart
From Jan 2024 to Jan 2025