Magnum forgets

I have to agree. Most know, Mangum members almost never all agree on anything. Burk Uzzle (a past president) , Bill Allard, Ernst Haas, Michael "Nick" Nichols.. I can't remember them all.. quit. I don't know their reasons. But, this investment takes away the power of the members to control their coop. I can't imagine they all agreed.

Michael Dell gave Magnum $100M for a print collection that went back to Magnum's beginning. I would think, if invested properly, that would hold them over through any tough times. Maybe they burned through those funds? It's not the public's business. But it was a major trade for insured survival.

Investors have power. I've seen it first hand. They help or destroy. Their vote(s) is now in play.

Those who left, may be silent on the topic for a time, not wishing to harm their friends who are still with the agency.

I fear this is the newer "social media savvy" members taking charge. The old timers like Fusco, Koudelka, Davidson, et all, may have been out voted if they didn't favor the change. A prosperous agency will reward their children when they are gone..?

I really don't want to read that Magnum was sold to the likes of McClatchy or Zuckerberg-Bezos in a couple of years.
 
Not all members seem to be happy about the move. 1 resignation so far. I would be curious as to how the autonomy pillar of Magnum will be impacted by the 'new management'?
 
They only have their images to sell. Profitability would seem to be an increasingly difficult proposition given the radical changes in photojournalism.
 
From John Vink's social media:

So it is now public: Magnum members (me included) voted in favour of outside investment after having more or less survived financially for 70 years, while at the same time maintaining its pertinence in a rapidly changing environment. The fresh money will flow into Magnum Venture, a new company of which Magnum is the major stakeholder, while Magnum Inc., the core, will be preserved from anything bad happening to Magnum Venture. It is a good move. It will keep Magnum where it rightly belongs.
But it will be without me. After 20 years as a member I gave up my membership. I can't sign the new contract. It was presented to us to give some guarantee to the investors that they would see some return to their investment. There is no way I can or want to comply to the new rules. I believe it would curtail the incredible freedom I enjoy in my work. I want to keep going as I do. Wish me luck. I certainly wish Magnum good luck.
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ptpdprinter said:
They only have their images to sell. Profitability would seem to be an increasingly difficult proposition given the radical changes in photojournalism.
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I think they make a lot of money on their workshop series. It seems that one or two are always being advertised. They are also, now, making a lot of money on gallery sales. I wonder what Erwitt thinks about all this. He's one of the oldest living members. And, he generates a lot of income for Magnum.
 
John, the next time you post something like this .. use a title like "Magnum (Mostly Leica users) Forgets" ... and it won't get lost in a day.

pkr
 
pacco said:
www.bjp-online.com/2017/06/john-vink-leaves-magnum-due-to-post-investment-contract/
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Thanks pacco !

"executive director David Kogan stating that the new funds will allow the agency to “grasp the challenge of the digital age”.

Where's Michael Dell's One Hundred Million Dollars? There are about 90 current members and the estates of past members. That's a million each with lots left over.

I know this is none of my business, but I have two old friends who are current members. My concern is for their years of work, their investment and retirement. I hope this isn't some panic funding to cover up mismanagement.
 
Speaking with BJP, Vink said “I believe I cannot divulge the exact content of that contract”, but added: “Without going into specifics, it boiled down to signing a contract where photographers have to accept a certain number of jobs provided through Magnum, equivalent to a minimum amount of money. These jobs can be anything, ranging from editorial assignments to workshops
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http://www.bjp-online.com/2017/06/john-vink-leaves-magnum-due-to-post-investment-contract/

The contract makes the photographers into employees.
 
It seems me this is going in the opposite direction of what brought Capa, HCB and co. to create Magnum...freedom and control on their photography...
robert
 
robert blu said:
It seems me this is going in the opposite direction of what brought Capa, HCB and co. to create Magnum...freedom and control on their photography...
robert
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indeed, thus the thread title. i am curious as to how much autonomy the members surrendered and how that will impact the creative direction of the agency as a whole?
 
PKR said:
John, the next time you post something like this .. use a title like "Magnum (Mostly Leica users) Forgets" ... and it won't get lost in a day.

pkr
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i suspect folks are fatigued by the ongoing troubles the industry is facing. even i feel as though the conversations go in circles at times.
 
When I go through the Magnum website I'm always impressed and pleased by the differences of styles, approach, interest of the various members. I hope it will remain like this allowing them so much freedom as possible. It's their main asset! It's what distinguishes them form many other "supplier" of photos!
robert
 
PKR said:
Michael Dell gave Magnum $100M for a print collection that went back to Magnum's beginning. I would think, if invested properly, that would hold them over through any tough times. Maybe they burned through those funds? It's not the public's business. But it was a major trade for insured survival.
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It would be interesting to know how they burned through $100,000,000 and are now back looking for outside investments.
 
All photographic agencies or repositories are effectively dead now. The age of the elite photographer with their own brand is long gone as vernacular and amateur photography is on par (or superior).
 
Well, I'm not as cynical I suppose. I think there is magnificent work coming out of the membership of Magnum. Newsha Tavakolian, Max Pinckers, Matt Black etc. have been producing groundbreaking new works and ideas that I hope continues under the new stewardship.
 
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