Here’s a way to raise prices without too much pain on anyone. Forget about raising prices on the top end sales. Instead, raise them a little bit at the bottom end. I recently examined licenses of some major suppliers to Getty Images and iStock. They received a royalty of less than $10 on 95% for the licenses. The average gross license fee of these lower end transactions was $5.12. Suppose instead of raising prices overall agencies add just a little bit to the gross license fee for their lowest priced licenses.
When most companies enter into negotiations with customers on the price of a product they usually know exactly what it costs them to product. In most cases they tend to not want to give away the product for less than it costs to produce. In the stock photo business usually have no idea what it costs to produce the product they are selling. They only know that they will have to give the creator a small percentage of what they are able to charge the customer. They have no idea if that is enough to cover the creators cost of production.
is now accepting images for its new artist-friendly stock Photo Marketplace that will reward photo contributors with 100 percent commission from their sales. That 100% is $3.99 per still image download less third-party fees (like credit card charges) incurred when processing the transactions. Seeing this price many photographers may reject the offer out of hand. But, this is a very different business model from traditional stock agency businesses. Instead of paying a percentage royalty, contributors receive the full amount that the customer pays to use their work.
The Natural History Museum is showcasing its award-winning imagery including its Wildlife of the Year
content at fotofringe 2017 in London. NHM has chosen Capture Ltd as its partner in bringing the extraordinary collection to market.
If you think nothing ever happens in Congress, you’re wrong! On April 26th the U.S. House of Representatives passed H.R. 1695
, a bill that proposes making the Register of Copyrights a Presidential appointee, confirmed by the Senate. This is a first step toward modernizing the U.S. Copyright Office.
has introduced a new approach to Rights Managed licensing and is opening the door to some really special photography. “We always had a clear position on the subject of rights managed licensing”, says Tomas Speight, CEO of Panther Media GmbH, “we would only ever do it if we could make it so easy it doesn’t need explaining”.
has added new tools to make the image creation process easier and provide more efficient ways to upload and submit photo, video or other assets to Adobe Stock.
As of April 26, 2017 Alamy has made contract changes
that will be of interest to contributors. Most notably they will now pay contributors monthly whenever the Cleared Funds in the contributor’s account exceeds US $50. Previously, contributors were not paid until their Cleared Funds exceeded $US $75.
Here’s a simple thing every photographer and stock agent can do to protect their copyright. Tell Congress to Vote “Yes” on H.R. 1695
– a bill to Modernize the U.S. Copyright office. It will take you less than 5 minutes. Go to http://copyrightalliance.org/get-involved/add-your-voice/
. Click on “Take Action.” The Copyrightalliance will ask for your zip code and then your name and address. Once you’ve input that information your name will be added to a pre-written letter to your Congressperson. It’s that simple!
Getty Images has been focusing on growing its subscription business
. The theory is that subscriptions will make customers more dependent on the company for their future needs. Currently, subscriptions represent 37% to 38% of Getty’s Creative Revenue and about 50% of Editorial Revenue.