Tuesday, September 08, 2009

Annie Leibovitz's Photo Rights... GONE?...

Have you been hearing about this? Famous photographer Annie Leibovitz used the rights to her photographs as collateral in a number of loans which total about 24 million dollars. The loans have come due today, and there's currently no sign that she'll be able to pay them back. Here are a few links regarding this story:

- The Associated Press, from 2 hours ago.

- The NY Times, talking about firms that use rights to art as collateral.

- The NY Times: this article is about 6 weeks old, but it's the best description of what's going on that I've found.

How does a photographer get that far "in the hole?" That last article states the following:

Over the years at Vanity Fair, her shoots became more complex and expensive, often elaborate as movie shoots. “Month after month, it got a little bit more complicated with every shoot,” Jane Sarkin, a Vanity Fair features editor, said in the documentary. “Her demands became bigger. Fire, rain, cars airplanes, circus animals — whatever she wanted she got.”

But STILL! This boggles my mind. Good luck, Annie!


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