Getty Images Holdings, Inc.GETY

Getty Images Holdings, Inc. Segments Disclosure

10-KFiled Mar 17, 20253 min read
SEGMENT AND GEOGRAPHIC INFORMATION
Getty Images is a preeminent global visual content creator and marketplace that offers a full range of content solutions to meet the needs of customers around the globe. Through Getty Images, iStock, and Unsplash brands, websites and APIs, the Company distributes content and service offerings through three primary product lines: Creative, Editorial, and Other.
As of December 31, 2024, 2023 and 2022, the Company identified one operating and reportable segment for purposes of allocating resources and evaluating financial performance. The Company determines its reportable segment primarily based on the management of the business on a consolidated basis rather than by product, as this information is not how the CODM oversees the business.

As part of its financial management practices, the Company conducts an annual budgeting process and regularly reviews forecasted and actual financial results. The Chief Executive Officer, who serves as the Company’s CODM, uses these forecast and actual results to manage the business. The metric most closely aligned with U.S. GAAP, utilized by the CODM to assess financial performance, guide strategic planning, and allocate resources for the reportable segment is net income.
The Company does not have intra-entity sales or transfers. Asset information on a segment basis is not different than that presented in the consolidated balance sheets.
Segment Financial Information
Certain financial information for the Company’s segment, including significant expenses that are used by the CODM to assess the business performance and other segment expense items are listed below:
(In thousands)Year Ended
December 31,
202420232022
Revenue$939,287 $916,555 $926,244 
Less:
Significant segment expense items1:
Cost of revenue (exclusive of depreciation and amortization)253,068 250,249 254,990 
Adjusted Selling, general & administrative expenses2
338,804 316,350 310,475 
Marketing costs47,144 48,514 55,815 
Other segment items3
119,466 173,770 102,931 
Segment income from operations180,805 127,672 202,033 
Interest expense(131,408)(126,884)(117,229)
Other non-operating income (expense)4
37,558 (27,693)(118,321)
Segment income (loss) before income taxes86,955 (26,905)(33,517)
Income tax (expense) benefit(47,483)46,482 (44,126)
Segment net income (loss)39,472 19,577 (77,643)
Reconciliation of segment profit or loss— — — 
Consolidated net income (loss)39,472 19,577 (77,643)
1 The significant segment expense items are expense information that is regularly provided to the CODM.
2 Total Selling, general and administrative expenses, excluding Marketing costs and Equity compensation expenses.
3 Includes Depreciation, Amortization, Other operating expense (income) - net, Loss on litigation, Recovery of loss on litigation, and Equity compensation expenses.
4 Other segment non-operating income (expense) includes (Loss) gain on fair value adjustment for swaps – net, Foreign exchange gain (loss) – net, Loss on extinguishment of debt, Net loss on fair value adjustment for warrant liabilities and Other non-operating income - net.

See “Note 14 — Revenue” for a breakdown of revenue by product.
Geographic Financial Information
The following represents the Company’s geographic revenue based on customer location (in thousands):
December 31,
202420232022
Americas$535,723 $515,374 $525,775 
Europe, the Middle East, and Africa302,745 298,589 293,673 
Asia-Pacific100,819 102,592 106,796 
Total Revenues$939,287 $916,555 $926,244 
Included in Americas is the United States, which comprises approximately 52.0%, 51.2% and 51.7% of total revenue for the years ended December 31, 2024, 2023 and 2022, respectively. Included in Europe, the Middle East, and Africa is the United Kingdom, which accounts for approximately 10.7%, 11.1% and 10.4% of total revenue for the years ended December 31, 2024, 2023 and 2022, respectively. No other country accounts for more than 10% of the Company’s revenue in any period presented.
The Company’s long-lived tangible assets were located as follows (in thousands):
December 31,
20242023
Americas$93,667 $89,728 
Europe, the Middle East, and Africa83,169 89,164 
Asia-Pacific456 487 
Total long-lived tangible assets$177,292 $179,379 
Included in Americas is the United States, which comprises 47.0% and 45.2% of total long-lived tangible assets as of December 31, 2024 and 2023, respectively. Included in Europe, the Middle East, and Africa is Ireland, which comprises 39.9% and 42.8% of total long-lived tangible assets as of December 31, 2024 and 2023, respectively.
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About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

Other Available Disclosures

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