NEW YORK - Getty Images (NYSE: GETY), a leading global provider of visual content, has been appointed as the Official Photographic Agency for the United Football League (UFL), as announced today. The partnership is set to commence with the UFL's inaugural game on Saturday when the Birmingham Stallions face the Arlington Renegades.
In a multi-year deal, Getty Images will deploy its team of award-winning sports photographers and editors to capture high-resolution images from each game throughout the 12-week UFL season. Coverage will span the full spectrum of the league's activities, from the intensity of the matches to the pre-game preparations and the engagement of fans in the stands.
Michael Heiman, Vice President of Global Sports at Getty Images, expressed enthusiasm about the collaboration, highlighting the company's long-standing reputation for delivering high-quality sports content. "For nearly three decades, Getty Images has been a trusted partner in the sports industry, committed to capturing and sharing iconic moments through our extensive distribution network," Heiman stated.
The UFL's Senior Vice President of Corporate Strategy, Jeroen van den Bergh, also conveyed his excitement about the partnership, emphasizing the importance of capturing the league's key moments with precision and narrative depth.
Getty Images is no stranger to major sports partnerships. It currently serves as the official photographer or photographic partner for over 125 sports governing bodies, leagues, and clubs worldwide, including high-profile organizations such as FIFA, the International Olympic Committee, and the NBA. The company covers more than 50,000 sports events annually.
This strategic alliance with the UFL is expected to enhance the visibility and storytelling of the league's debut season, providing fans with access to compelling visual content.
The information for this article is based on a press release statement.
InvestingPro Insights
As Getty Images (NYSE: GETY) kicks off its partnership with the United Football League, investors are closely monitoring the company's performance metrics and future prospects. According to InvestingPro data, Getty Images boasts a market capitalization of $1.62 billion USD and a Price/Earnings (P/E) ratio of 27.21 based on the last twelve months as of Q4 2023, suggesting that the company is trading at a lower earnings multiple relative to its near-term earnings growth potential.
Despite a challenging environment with a slight revenue decline of 1.05% over the last twelve months as of Q4 2023, Getty Images maintains a robust gross profit margin of 72.7%, reflecting its strong pricing power and cost management strategies. This financial stability is underscored by the company's operating income margin of 20.08%, indicating healthy profitability amidst the competitive landscape of visual content providers.
InvestingPro Tips reveal that while Getty Images has experienced significant stock price volatility, with a one-week total return of -20.24% as of the latest data, analysts predict the company will be profitable this year, providing a silver lining for potential investors. Moreover, with Getty Images trading at a low P/E ratio relative to near-term earnings growth, it could indicate an attractive entry point for those looking to capitalize on the company's anticipated growth.
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