Getty Images Holdings Inc ( (GETY) ) has released its Q3 earnings. Here is a breakdown of the information Getty Images Holdings Inc presented to its investors.
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Getty Images Holdings Inc., a leading global visual content creator and marketplace, reported its third-quarter 2024 financial results, showcasing growth in its various platforms and customer categories. The company operates through its brands Getty Images, iStock, and Unsplash+, serving a diverse global customer base with a vast library of images and videos.
In its latest quarterly report, Getty Images announced a revenue growth of 4.9% year-over-year, reaching $240.5 million. The company highlighted a significant increase in annual subscribers, which grew nearly 50%, now accounting for over half of its total revenue. Despite a net loss of $2.5 million this quarter, the company has improved from the previous year’s net loss of $18.4 million.
The company also reported an adjusted EBITDA of $80.6 million, marking a slight increase from the previous year. Furthermore, Getty Images raised its revenue and adjusted EBITDA outlook for 2024, reflecting confidence in its strategic execution and differentiation in the marketplace. The video collection grew by 17.2% year-over-year, highlighting the company’s expanding content offering.
Looking forward, Getty Images appears optimistic about its trajectory as it enters the final quarter of the year and moves into 2025. The company plans to continue leveraging its robust content library and customer-focused strategies to drive success, despite the competitive market and economic challenges.
