Upmarket Opportunity . . .

Stock Asylum Staff Report
March 1, 2007


Sometimes smart business people zig when the majority of their peers are zagging.

So, it might not be too surprising to learn that, in an industry lately preoccupied with low-priced image products, Leslie Hughes has decided to concentrate on an upscale photographic service.

Hughes, a long time stock photography industry veteran, announced on this date that she and her associates at Equity Images will produce custom photographic collections for mid-sized and large companies needing visually consistent imagery for cross-platform advertising campaigns.

"One of the things we evaluated before we started this was that there is such a rush to the low end of the market now. We thought there were opportunities at the higher end as well. And we thought there was an opportunity to bring in a new approach to that end," Hughes said. "I tend to go against the grain anyway," she laughed.

The new company will have associates in Europe and Asia. David Harrigan, will be in charge of European productions while Catherine Lee will handle Asian productions from her base in Hong Kong. Harrigan and Lee each have worked for both Getty Images and Corbis.

"Communications is becoming more complicated and multi-dimensional," said Hughes, noting that a single advertising campaign may run on television, the internet, a cell phone network and in print.

"What we're trying to do is address that by approaching companies and creating collections especially for them that they can use according to their needs."

Hughes said her research showed that larger companies and big advertising agencies need collections of 200 to 400 images for up to two years. She calls these collections "visual equity."

Hughes said Equity Images will consider various financial arrangements with photographers. Some shooters will be paid by the day while others will collect royalties based on usage.

The photographs will remain the property of Equity Images and its contract photographers. Many of the images will be licensed as stock photography after the initial client has finished using them, Hughes noted.

Hughes is a former president of Corbis and has worked in executive positions at the Imagebank and Imagestate. Since late 2005, she has worked as a consultant in the photography industry. Equity Images is launching with private funding, primarily from Hughes herself.

For more information about Equity Images: click here.