Getty Images Holdings, Inc. · NYSE:GETY
Getty Images — Q1 2025 Earnings Presentation
48 slides from Getty Images's earnings presentation, May 12, 2025
Slide 1: Move the World
Move the World With the Power of Elevated Visual Content May 28, 2024 CONFIDENTIAL 469262742, wundervisuals 1
Slide 2: Getty Images is a Preeminent Global Content Creator and Marketplace
Getty Images is a Preeminent Global Content Creator and Marketplace 1 The Power of Our Authentic Content 2 Our Differentiated Value Proposition 3 Our AI Opportunity 4 Financial Highlights 1454065258, Marco Bottigelli 2
Slide 3: The Power of Our Authentic Content
1 The Power of Our Authentic Content 1634256861, Willie B. Thomas 3
Slide 4: We Believe in the Power of Visual Content
We Believe in the Power of Visual Content 4
Slide 5: Visuals that Make People Think, Feel, Take Action, or Bear Witness to History
Visuals that Make People Think, Feel, Take Action, or Bear Witness to History 5
Slide 6: An Image That Instantly Tells a Story
An Image That Instantly Tells a Story 1856938959, Pyrosky 6
Slide 7: A Shot That Expands Global Perspective and Transcends Language
A Shot That Expands Global Perspective and Transcends Language 463933990, AFP 7
Slide 8: An Image that Transports You Back to a Moment
An Image that Transports You Back to a Moment 515612650, Bettmann 8
Slide 9: Or The Big Moment Captured Through a Unique Lens
Or The Big Moment Captured Through a Unique Lens 1450119456, Shaun Botterill – FIFA 9
Slide 10: An AI-Generated Visual Sprung From the Depths of the Imagination
An AI-Generated Visual Sprung From the Depths of the Imagination Created with Generative AI by Getty Images 10
Slide 11: There's a Story in Every Picture, a Narrative in Every Frame
There’s a Story in Every Picture, a Narrative in Every Frame 11
Slide 12: With the Omnipresence of Visual Storytelling…
With the Omnipresence of Visual Storytelling… >7 Hours >50 % > 200 x ~290 % Spent Daily Consuming Of Consumers Prefer Visual Growth in People Actively Using Increase in the Percentage of Digital Media on Average by Content Over Text When Making Social Media Globally Since 2000 Americans Who Place No
Slide 13: Our Differentiated Value Proposition
2 Our Differentiated Value Proposition 2146684880, Gregory Shamus
Slide 14: Investing in a Market Leader With an Enduring Competitive Edge
Investing in a Market Leader With an Enduring Competitive Edge 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 Man
Slide 15: Why Do Creators and Customers Consistently Choose Getty Images?
Why Do Creators and Customers Consistently Choose Getty Images? Creators of Visual Content Customers of Visual Content Access to Getty Images’ Exceptional Expertise in Visual Content for Crafting Compelling Stories Significant Audience Depth, Breadth, and Quality of Reach & Scale Differentiated and
Slide 16: We Are Uniquely Positioned at the Center of the Creative Economy
We Are Uniquely Positioned at the Center of the Creative Economy SMBs, Prosumers, Target Customer Enterprises SMBs Pro & Semipro Content Creators Premium Creative & Editorial Budget-Conscious Free & Low-Cost Asset Type (Stills, Music, Video, and Stills, Video, Creative Stills Generative AI) and Gene
Slide 17: Getty Images' High Quality Revenue Model
Getty Images’ High Quality Revenue Model Powerful Creative & Editorial Content Underpinned by Exclusive Content Serving a Broad & Tenured Customer Base (% of 2023 Revenue) (% of 2023 Revenue) Customer Breakdown Customer Tenure Royalty-Free 70+ (% of 2023 Revenue) (% of 2023 Revenue) 16 % 11 % Photos
Slide 18: Creative: Introducing Our Differentiated and Authentic Offering
Creative: Introducing Our Differentiated and Authentic Offering ~2/3 Of 2023 Revenue From Creative Unique and Robust Visual Collection of Royalty-Free Images and Videos, Available in a Variety of Formats and Styles High Quality Creative Library Custom Market Research and In- Comprehensive Custom Con
Slide 19: 19
19
Slide 20: 1216206166, simonkr
1216206166, simonkr 20
Slide 21: The Power of Our Editorial Business
The Power of Our Editorial Business ~1/3 Of 2023 Revenue From Editorial Unique Scope & Award-Winning 70+ Premium Comprehensive Deep Expertise & Exclusive Scale of Coverage Specialists Content Partners Archive Capabilities Rights & Access 160K+ 110 135M+ ~300 Annual Events Staff Photographers Images
Slide 22: 22
22
Slide 23: Exclusive Content Underpins Competitive Differentiation and Drives ~2/3 of Revenue
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. s& omic n St Eco ent Ex ead or em clu at gag y ve
Slide 24: Experienced Management Team
Experienced Management Team Craig Peters Chief Executive Officer Over 16 Years of Experience at Getty Images with Broader Experience in Media, Sports, and Technology Mikael Cho Grant Farhall Gene Foca Nate Gandert Kjelti Kellough Jennifer Leyden Ken Mainardis Peter Orlowsky Rebecca Swift Michael Tea
Slide 25: Our Strategic Transformation Positioned Us to Deliver Growth
Our Strategic Transformation Positioned Us to Deliver Growth 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 Forged Leading Tech Partnershi
Slide 26: Our AI Opportunity
3 1 Our AI Opportunity Created with Generative AI by Getty Images 26
Slide 27: AI Taps Into Our Competitive Differentiation and Provides New Paths for Growth
AI Taps Into Our Competitive Differentiation and Provides New Paths for Growth by 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 com
Slide 28: We Are Uniquely Positioned to Benefit From AI
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 Other Generative AI Model Services by Powered by NVIDIA Unclear Legal Protection and Data S
Slide 29: The Future of AI at Getty Images
The Future of Al at Getty Images The following is for illustrative purposes only and the final user experience may vary. All content shown in this video that is Al generated content was created by Generative Al by Getty Images/iStock. All content in this video that is pre-shot content is available f
Slide 30: Getty Images' Unique Pre-Shot Library + Generative AI Technology Combines to Create a Powerful Tool
Getty Images’ Unique Pre-Shot Library + Generative AI Technology Combines to Create a Powerful Tool for Content Creation 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 Creativi
Slide 31: Search in Action
In Addition to Our Generative AI, We Are Embedding AI Across Some of Our Other Capabilities Our Proprietary Search Infrastructure Providing More Relevant Search Results Improves User Outcomes & Retention Natural Language Queries a group of friends in a sunny environment Creative Images Search by ima
Slide 32: Our Core Business Remains Healthy in the Age of AI
Our Core Business Remains Healthy in the Age of AI Our core KPIs remain strong, with stable fundamentals and increasing subscription penetration LTM Total Purchasing Customers LTM Total Active Annual Subscriptions as a % (Thousands) Subscribers (Thousands) of Total Revenue Purchasing 794 835 799 cus
Slide 33: Financial Highlights
5 1 Financial Highlights 1170614184, Ducan Raban/Popperfoto
Slide 34: The Enduring Strength of the Getty Images Platform
The Enduring Strength of the Getty Images Platform Stable Revenue & Long-Term Growth Strong Cash Generation Customer Acquisition Efficiency Consistent. High Margin Profile Total Revenue1 Unlevered Pre-Tax Free Cash Flow1 Customer Acquisition Cost2 Gross Margin $ 917 $ 244 $ 176 $ 823 $ 200 $ 109 71
Slide 35: Summary Financial Overview
Summary Financial Overview Revenue1 Revenue Less Cost of Revenue Revenue ($ in Millions) 1 ($ in millions) Revenue Less ($Cost of Revenue in Millions) % Subscription: 36% 39% 44% 46% 46% 49% 53% $919 $926 $917 15 15 17 $815 $823 $811 $671 $671 $666 16 13 13 $749 14 307 326 321 $583 $588 $587 296 294
Slide 36: Summary Financial Overview
Summary Financial Overview Adj. EBITDA1 Unlevered Pre-Tax Free Cash Flow3 ($ in Millions) ($ in Millions) $ 260 $ 246 $ 244 $309 $ 226 $305 $301 $ 200 $271 $ 158 $245 $211 $ 103 $167 33% 34% 33% 33% 30% FY17A FY18A FY19A FY20A FY21A FY22A FY23A 26% Capital Expenditures4: 7 22% $64 $52 $46 $45 $49 $5
Slide 37: Consistent Growth Across Key Performance Indicators
Consistent Growth Across Key Performance Indicators Total Purchasing Customers1 Total Active Annual Subscribers (in Thousands) (in Thousands) 835 ( in thousands) 236 794 799 715 688 129 672 656 75 53 59 45 30 FY17A FY18A FY19A FY20A FY21A FY22A FY23A FY17A FY18A FY19A FY20A FY21A FY22A FY23A Annual
Slide 38: Consistent Growth Across All Key Performance Indicators
Consistent Growth Across All Key Performance Indicators Image Collection Video Collection (in Millions) (in Millions) 535 28 497 458 24 426 400 20 362 17 322 12 9 7 FY17A FY18A FY19A FY20A FY21A FY22A FY23A FY17A FY18A FY19A FY20A FY21A FY22A FY23A Video Attachment Rate1 13.1% 14.1% 12.1% 10.3% 10.9
Slide 39: Capital Structure and Cash Flow Priorities
Capital Structure and Cash Flow Priorities Unlevered Pre-Tax Free Cash Flow1 Target Net Leverage / Adjusted EBITDA2,3 Priorities for Cash ($ in Millions) Flow Spend ~4.2 x $ 260 Pay Down Debt to De-lever the $ 245 $ 244 $ 226 Business $ 200 ~2.5x – 3.0x $ 159 Investment in Marketing $ 103 to Drive G
Slide 40: Q1 2024: Fading Residual Headwinds Position Us For Growth For the Rest of 2024
Q1 2024: Fading Residual Headwinds Position Us For Growth For the Rest of 2024 Q1 2024 Summary Financial Overview ($ in Millions) ($mm) Q1 2024 Q1 2023 • Q1’2024 results continue to demonstrate the consistency and resiliency of Revenue $ 222 $ 236 our business, despite the residual effects of last y
Slide 41: Poised for Return to Growth
Poised for Return to Growth Macro Improvements & Tailwinds Long-Term Growth Opportunities Hollywood Writers and Actors AI Revenue Streams Strike Resolved Major 2024 Editorial Events Corporate Segment Expansion Summer Olympic Games U.S. Presidential Election Video Consumption Copa América UEFA Europe
Slide 42: Thank You
Thank You 1609807673, d3sign 42
Slide 43: Appendix
Appendix Created with Generative AI by Getty Images
Slide 44: GAAP vs. Non-GAAP Reconciliation
GAAP vs. Non-GAAP Reconciliation LTM as of ($mm) 2017A 2018A 2019A 2020A 2021A 2022A 2023A Q1 2024A Reported Revenues $ 838 $ 868 $ 847 $ 814 $ 919 $ 926 $ 917 $ 903 1 (-) Retired Products (89) (53) (24) (3) 0 0 0 0 Revenue (Excl. Retired Products) $ 749 $ 815 $ 823 $ 811 $ 919 $ 926 $ 917 $ 903 Adj
Slide 45: Historical Quarterly Financials & Reconciliations
Historical Quarterly Financials & Reconciliations ⠀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 ⠀
Slide 46: Disclaimer
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
Slide 47: Disclaimer (Cont'd)
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
Slide 48: Disclaimer (Cont'd)
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 describe
Getty Images Holdings — Q1 2025 Earnings Presentation on 6ix