iStockphoto founder launches Stocksy, an artist-owned stock photo service
Bruce Livingstone, founder of iStockphoto (which has since been acquired by Getty Images), has launched Stocksy, an artist-owned stock photography co-operative. Under its licensing terms, photographers receive 50% of each royalty transaction. Each photographer also receives equity and is entitled to a share of the co-operative's annual profits. This launch comes hot on the heels of a recent and controversial deal between Getty Images and Google, in which Google Drive's image vault gives public access to over 5000 Getty images with very little compensation to the photographers.