Following an exclusive distribution deal with Getty Images, 500px is shutting down its own stock photo marketplace but its images will continue to be sold by Getty in all markets around the globe, except for China.
Many photographers rely on getting exposure for their work through the 500px platform and its stock photo marketplace. Now, some will be getting a lot more exposure due to 500px’s move to make Getty Images the exclusive distributor of its stock photography, following a recently signed partnership with the stock photography giant. As a result, 500px will be shutting down its own stock photography offering, Marketplace.
Getty will now have access to 500px’s images and will sell them in all markets except for China. The Chinese market will be serviced by the Visual China Group, a company that acquired 500px earlier in the year. 500px and Getty’s deal was announced on May 31, by will be going into effect on July 1.
What changes for 500px Marketplace members? Well, apart from the fact that they will have more extensive exposure and increased reach, not much. Royalty rates or the process of submitting images will remain the same, and users can still choose to opt out of having their shared images available for sale. 500px will also continue to represent the photographers who submit their images through its portal. However, the exclusive agreement stipulates that the 500px Marketplace will be shutting down on June 30, and “selected images” will be moving on to Getty Images.
Finally, 500px photographers will see a new sales-related tool appearing later in the year.
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