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Glazer's Camera

Corbis Reports Higher Revenues, Not Profits


In the first half of this year, Corbis posted a 16 percent rise in revenues compared to the same period in 2005, but it is not expected to turn a profit this year, according to CEO Steve Davis.

The stock agency cited rising image prices as reasons for the revenue growth in the first six months of 2006, but also noted that it continues to lose money due to investments in technology and new content.

Corbis' rights-managed revenues were up 8 percent compared to the same period last year, despite the fact that volumes fell in the first half of '06, according to a company sales report. In the area of royalty-free stock licensing, revenues were up 22 percent, largely due to price increases. Royalty-free volumes rose only 5 percent during the same period.

In the coming year, Corbis has announced plans to introduce a new search engine and to include more rights-managed images.