London based rights managed photo library Lensmodern closed on 12 December.
In an email sent to image buyers last week the owners announced the closing date citing industry pressure on rights managed image prices for the closure. …and now on the agency site.
• They will continue to administer the licence arrangements we have already entered into and that we can be contacted for renewals of those licences.
LensM are not alone …PAN knows of at least four photo agencies who have ‘closed the doors’ since the summer. Most have been offered for sale …with no takers.