Dear Valued 360Cities Member,
360Cities is recognized as the leading source of high-quality, interactive 360° content
Over the past few years, 360Cities has licensed thousands of interactive 360° images (many of them multiple times) to hundreds of creative and editorial customers around the world. Over one thousand of our awesome contributors have received hundreds of thousands of $US in royalties, the average royalty payment to our contributors being over $200.
And we have been growing our revenue, royalty payments to contributors, and customer base each year
Licensing activities have grown every year. We launched an automated licensing engine in April of this year that allows our customers to search for, order, pay for, and receive images automatically, without any human intervention to slow things down for the customer.
The number of our contributors’ images that our distribution partner, Getty Images, is licensing to their customers is growing each and every month
We announced our distribution partnership with Getty Images back in November last year and the results thus far in terms of monetization by Getty and the related royalties we are paying to contributors (60% of the royalties that 360Cities receives from Getty) has been very encouraging. The average royalty paid out to our contributors thus far is well above $100 although the amounts fluctuate dramatically depending on the end customer usage.
Getty is taking VR and 360 content extremely seriously, recently announcing the creation of a Virtual Reality Group. 360Cities is a key part of Getty’s strategy for VR.
What is Getty Images saying about our partnership and your panoramas?
> “This is an unprecedented partnership that will enable us to bring 360° imageryand immersive experiences to the mainstream.”
> “We expect this to be a huge growth area for photography in the next five years as consumers start to expect immersive imagery and Getty Images will be at the forefront of this change – our partnership with 360Cities is testament to this.”
NEW: Support for 360 video!
Video is going to play a big role in the VR experience and we’ll soon be launching support for 360° video on 360cities.net and with our distribution partner, Getty Images. We’re already getting licensing requests for video and we want to be prepared for when 360° video becomes more mainstream.
We’ll be sending out more details next week on how you can upload your 360° videos to 360Cities.
Wishing everybody a great summer!
– The 360Cities Team