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The needs of stock photo customers are changing. Successful agencies and distributors are adapting to those needs. Increasingly, customers are turning away from the large collections that purport to have everything. They are moving toward smaller, tightly curated collections that have a narrow focus in terms of the subject matter they represent. Aurora Photos
is one such agency.
Photographers who saw ImageBrief’s a recent blog post
about Pamela Olivera’s shot that was used worldwide in a Delta Airlines campaign have been asking why Delta would take such a risk on an unreleased picture. Other ImageBrief photographers have commented lately that ImageBrief does not determined whether or not they have releases on at least some of their accepted pictures. They seem to simply accept that every image submitted has all necessary releases.
that photographer Carol M. Highsmith
has filed a copyright infringement suit in New York against Getty Images
. Damages could be worth $1 billion.
investors often ask my opinion of stock photo industry’s future and the potential for Shutterstock’s growth. I tell them growth will slow significantly. Demand from customers willing to pay for the images they use will decline. Shutterstock has grabbed about all the customers they can from Getty so there is not much potential for growth there. Adobe will take a much bigger share of the market. Recently an investor asked me, “What would you do if you were Shutterstock?” Here’s what I told him.
has created a infographic
timeline showing the History of Stock Photography. They are actively seeking feedback and interaction on the infographic so that we can gather as much information as possible.
, has implemented a significant improvement to its website security by switching all site pages to "HTTPS" including the dedicated mobile website and the Dreamstime applications for iOS and Android.
Many RM photographers are opposed to Royalty Free because they believe that for a single low fee they would be giving away all future rights to use their images. That’s not quite true. Check out this story to see the real differences and understand how much you might really be giving away if you license your images as RF.
In response to changes in the industry and client requirements Africa Media Online
has introduced a new simplified pricing model. The South Africa based picture library has moved away from the complexities of narrowly defined RM usages and is now offering clients a simple procedure for establishing what an image costs.
Shutterstock has launched a new keyword suggestion tool for iPhone that leverages a combination of metadata (man) and pixel data (machine) to suggest more relevant and accurate keywords for images that are uploaded in the Shutterstock contributor app
After reading last week’s article on “Rights Simplified Pricing
” a reader asked if I could expand on why an alternative to Rights Managed pricing is needed. He said that seldom has he found that customers are unwilling to pay fotoQuote
RM rates that are based on how images are used. The following is my response.
Congressman Hakeem Jeffries (D-NY) and Congressman Tom Marino (R-PA) have introduced a bipartisan small claims bill, H.R.5757, the Copyright Alternative in Small-Claims Enforcement (CASE) Act of 2016. When Congress reconvenes after its upcoming six-week recess Congresswoman Judy Chu (D-CA) plans to introduce a separate version of small claims legislation establishing a small claims tribunal in the Copyright Office.
To deal with increased customer demand for simpler, easier to understand pricing, and the general decline in the use of Rights Managed images industry wide, plainpicture
in Germany has introduced a new pricing model they call (RS) plainpicture Rights Simplified
. has announced an API integration with Google. The image licensing deal provides Google’s digital and mobile display advertising products, including Adsense, Adwords, and Admob, with access to Shutterstock’s collection of more than 90 million images for license.
Singapore based, MotionElements
has introduced VisualSearch
v2; two improved revolutionary tools that simplifies all creators’ search for that perfect footage or music to use in their projects.
One of the principal reasons for licensing images as Rights Managed rather then Royalty Free is to insure that the customer pays additional fees whenever they reuse an image. With RF, once purchased, the customer can use the image as many times as they want. But how often do such multiple uses occur?
Recently, I asked about 100 medium sized stock agents around the world a series of questions to try to get an understanding of the revenue generated from images supplied to them by other stock agencies as opposed to revenue from images the agent had collected directly from image creators.
A few iStock contributors tell me that since the introduction of subscription sales in March 2015 downloads
as reported on the contributor’s portfolio page no longer tell the whole story.
Paul Banwell, Senior Director, Contributor Relations for Getty Images has just sent contributors the following letter regarding Getty’s directions for the future. This information should be of interest to every stock image producer and distributor regardless of their relationships with Getty Images.
Some iStock contributors continue to add significant numbers of images to their collections, despite the decline in the number of downloads
and we presume revenue, since average prices per-image downloaded have also declined.
Downloads from iStock continued to decline in the first half of 2016. Since 2011, I have been tracking the number of downloads and images in the collection of 430 of iStock’s leading contributors. At the end of June 2016 these contributors had between 56,465,000 and 58,967,000 total downloads during their iStock careers. iStock has over 100,000 contributors, but despite the small number in this group we believe the images licensed by this 430 represent almost one-third of all the images iStock has licensed since the company began operations.
A couple weeks ago I wrote an articles asking “What Is ‘Commercial’ Stock Photography.”
I questioned how big the demand is for “candid,” “natural” and “real life” grab shots of what happens in front of the photographer rather than staged shots that look real but are carefully posed with great production values. A reader suggested I contact Jerry Taven who founded Nonstock about a fifteen years ago.
One of the biggest problems with stock photography licensing today is that there is often no clear logic behind why a higher price should be charged for one image and not another. In this article we explore how the industry's marketing strategy might be improved to generate more revenue for creators and distributors, as well as making the image search process more user friendly for customers.
Photographers choose to sell their work as RM for three reasons: (1) They believe that everything they produce should only be licensed for prices higher than those charged for RF, (2) They dream that one, or a few, of their images will eventually be licensed for an extremely broad, major use. Customer who make such uses are willing to pay multi-thousand-dollar prices for exclusive rights to such images, and (3) Such high value sales can only happen if images are always licensed based on use. There are several fallacies to these arguments.
has taken action against a serious copyright infringer who was discovered to have improperly accessed, downloaded and distributed Getty Images content through social media.
Skilled digital artists don’t need more photos. Everything needed to recreate many of the world’s most famous masterpieces already exists
. Adobe challenged four digital artists to recreate four lost, stolen or destroyed artistic masterpieces using only Adobe Stock. If you’re a photographer, and not a Photoshop expert, you need to take a few minutes to watch the four time-lapse videos that show how these digital artists worked. See Make a Masterpiece
has unveiled an innovative new portal for photography contributors to upload work to their site.
has been chosen as a distribution partner for photo content from international news agency Reuters. The deal will give all of Alamy’s customers in the UK, US, Canada and Ireland access to millions of images that span over 20 years of incredible news photography.
Adobe has released a host of new features and performance enhancements for its Creative Cloud users. Of greatest interest to stock photographers is the addition of an all-new Premium Collection
of over 100,000 high quality stock images. Images will be available for single download purchase and priced between $100 and $500. In addition, there are other key enhancements to Adobe Stock that provide a deeper integration with Creative Cloud apps.
I recently asked Chris Ryan of CAIA Image
to explain how their company came into existence as a stock photo production company, and how it operates. He sent me the following and said, "we are always looking for new contributing artists whose work we think is truly outstanding."
, has announced that it is now offering images from top wire service Reuters through its news feed. ZUMA proudly becomes a distributor of Reuters images in the United States and Latin America as of today.
Have we lost sight of what commercial stock photography is? Have we become so obsessed with “real life” and “natural” the we think that anything that is arranged or posed is bad? Does an image have to shock to be good stock?
has made some changes in its terms and conditions. One of the major changes is that they are introducing Social Media Pricing. Photographer may op-out of social media pricing for their RF images, but if they don’t act within 30 days they will automatically be opted in.
GmbH is now part of Hubert Burda Media´s network. StockFood is one of Germany’s most respected photo agencies. As market leader, it carries works by more than 1,000 food photographers from around the world. StockFood will retain its current workforce and its independence as a company. Hubert Burda Media is one of Germany´s largest media companies and market leader in food media.
Does licensing images as RM make sense anymore? If you’re licensing your images as RM the following are a few things to think about from both the customer and the image creator points of view. If you really want to license your work you must consider why fewer and fewer customers are buying RM images.
National Geographic Creative
is looking for a new Senior Photo Editor. Based in Washington, DC this person will review submissions from National Geographic Creative talent, assess which assets would be of commercial value and make determinations as to how they can best be directed for monetization.
Visual China Group has provided a list
of the third party image collections it represents. The combined totals of RM and RF images in these collections is over 10.5 million images. It has been believed that VCG represents all the images in the Getty Images collection, but that appears not to be the case.
On April 22, 2016 Google and Microsoft announced officially
that they had buried the hatchet. Reflecting a changing relationship, the two sides drop complaints to regulators around the globe. Why should stock photographers care?
At the recent CEPIC conference one attendee asked, “Why do customers continue to buy RF images? Don’t they already have enough? If they get unlimited rights to everything they own, why don’t they just use the images they have already purchased and never need to buy another image again?”
Getty Images has launched the Getty Images Virtual Reality Group
, a new business dedicated to the creation and global distribution of virtual reality (VR) content.
, the largest provider of royalty-free digital video assets, announces the Pond5Million Sweepstakes
celebrating the company’s milestone of 5 million videos uploaded to the platform and its growing community of more than 40,000 artists.
According to Getty Images
CEO, Dawn Airey, “Over 97 per cent of visitors come to our websites to look at – not purchase – amazing imagery.”
ACSIL has announced the panelists who will be speaking at its ACSIL FOOTAGE EXPO 2016 in New York next week. The event is being held at the historic Prince George Ballroom at 15 East 27th Street, New York City on June 9, 2016. This one-day event is a chance to meet with footage distributors from both Europe and the U.S. and to hear discussions about the latest trends in the stock frootage industry.
(GD) in Belgium has developed a strategy for chasing online infringements that photographers may want to check out. There is no cost to the photographer unless there is a settlement. In the event of a settlement Graphics Detective pays the photographer 50% of whatever it collects.
. has made its visual search features, first introduced for desktop use in March
available for mobile use. Reverse Image Search for mobile invites users to capture the world around them on their mobile phones, and then upload them via the Shutterstock app
to search Shutterstock’s collection of over 80 million images for similar content and style.
has reported another year of impressive growth with gross sales of $7,928,745
million in 2015. That is up 126% from $3.5 million in 2014. The great news for image creators is that Stocksy paid out $4,323,735 in royalties
. That’s 55% of gross revenue collected. In addition, because the company is a Co-Op, they were able to pay out an additional $200,000 in dividends to members who sold images during the year.
Since October 2013 Getty Images
has been collecting money from Pinterest for images in its collection that have been pinned on Pinterest. The transactions appear on photographer sales reports as $0.03 gross sale and a photographer royalty of $0.01
. Indications are that this is a one-time payment no matter how long the image stays on Pinterest.
Shutterstock has notificed its Offset contributors that it has decided to make Offset content available to its Enterprise clients (over 24,000 of them) at a price point between $50 and $100. The current Offset price for a 72dpi web use image is $250.
Most photographers use two different figures to track revenue trends – revenue Per-Image-Licensed
and revenue Per-Image-In-Collection
. It’s easy for a photographer to figure his own per-image-licensed figure, but it is very difficult to determine how that might stack up with all photographers because the specifics of the number of images are usually not available even when you know (or have some idea of) the gross revenue collected during the period.
In a Photo District New interview entitled “Too Big To Sue”
Getty Images General Counsel Yoko Miyashita and VP and General Counsel Lisa Willmer explain why Getty Images is not suing Google Inc. in the US for copyright infringement. This is a must read for everyone engaged in the image licensing business.
Dissolve has announced it will add over 50,000 premium rights-managed (RM) commercial photographs to its site at dissolve.com
. The photos will be live on the site on June 1.
In order to safeguard its users, 500px Marketplace
has modified its submission requirements by asking for extra details to confirm the identity of its contributors. As of May 16, 2016 contributors must confirm their contact information and provide a copy of their government ID before any new images they submit to Marketplace can be sold.
If you’ve got quality digital image files that have been sitting around for a while and earning little or no money, there may be a way to get some cash for them. GraphicStock
, owned by VideoBlocks
, is paying a small one-time fee for non-exclusive rights to image collections. For this one-time fee they receive the right to license the images to customers non-exclusively, in perpetuity. No additional royalty will be paid to the creator for such sales.
Microsoft has teamed up with Shutterstock
to add integration within PowerPoint in order to offer access to the vast collection of images for use in presentations.
In a previous story
we talked about five aspects of the image licensing business where serious modification to standard practices are needed, if the industry is move ahead and grow revenue. In that story I dealt with three of the five: (1) Pricing Floor For Certain Imagery, (2) Simplified Pricing and (3) Better Actionable Data For Contributors That Relates To What’s Selling. In this story we’ll examine the issues of (4) Curation and, (5) a Central Database For Small Collections.
If there is going to be a business of producing and licensing rights to stock photos five or ten years from now, the industry needs a serious re-design. There are at least five areas that need serious modification if the industry is to include anything other than User Generated Content (UGC), or if there is to be revenue growth.
The “Best In Show Festival 2016” of Pulitzer Prize-winning photographs will open at 12:00 noon Saturday, May 14, at the Palm Beach Photographic Centre in West Palm Beach, FL.
The annual FOCAL International
Awards Ceremony will be held on May 26, 2016 and the day before on May 25th the footageMarketplace
will be held at 195 Piccadilly (home of BAFTA) in London. At this event footage and music content buyers can meet with 35 of the world’s premier footage/production music libraries.
has announced that Tim Davis
has joined the growing Aurora sales team as an Account Executive. Tim had spent the last 15 years with Corbis, most recently as a Sales Associate and Account Executive.
is happy to announce that the royalty free images of the renowned Parisian Agency PhotoAlto
are now available via PantherMedia. This addition gives extra flair to PantherMedia’s Premium Collection. PhotoAlto's images distinguish themselves with a special touch of fashion and style that can only originate from Paris. Creatives all around the world hold PhotoAlto in high regard due to its strong technical quality paired with a specific, individual take on subjects and themes of any type. While the main focus of the collection is on people photography, there is also a strong emphasis on food, travel and other subjects.
has enhanced the already prolific stock media catalog of 43 million images and is now accepting submissions to build a library of royalty-free audio clips. In the first 24 hours after opening the site for submissions Dreamstime received more than 10,000 sound clips. The new audio section will eventually contain thousands of high quality professionally produced sound effects and music files, not currently found anywhere else in the industry. The royalty-free audio clips are grouped into four categories which include instrumental, style, theme, and sound effects, with many sub-categories available for further refining, ensuring users can quickly find the exact sounds or music their projects require.
Everyone says there is increasing demand for photos. And there certainly is for photos that can be had for $1.00 or FREE. But is there increasing demand from those customers who used to buy photos for use in advertising and major marketing campaigns? The following are some statistics. Unfortunately, this story may raise more questions than provide answers, but the questions are worth considering.
The major sources of stock and archival footage will exhibit at the ACSIL FOOTAGE EXPO 2016
which is being held at the historic Prince George Ballroom at 15 East 27th Street, New York City on June 9, 2016.
has reported Q1 2016 revenue of $116.7 million up $19.1 million compared to Q1 2015. The growth is due mainly to new customers and increased activity by enterprise clients. Royalties paid to contributors during the quarter were about 29% of total revenue, or approximately $33.8 million. Currently, there are over 100,000 contributors meaning that the average contributor earned $338 during the quarter.
Paul Melcher disagrees with much of my pessimism about the future of the stock photo industry. I have the greatest respect for Paul and his opinions. He is founding director of Melcher Systems
and has been working in the stock photo space for more than 20 years. He has a thorough understanding of our industry. He has done much more in depth research of the tech side of the industry than I have, and has much better contacts and networking in that space. For these reasons, it is important for my readers to carefully consider what he has to say.
Corbis contributors have received the following information relating to the release from their contracts from Corbis & Unity Glory/VCG, the Chinese company that purchased Corbis.
Being represented exclusively by a single agency, or distributor, used to be important if you wanted a chance to license your images for high dollars for advertising or product identity uses. These customers wanted assurance that no one else would be using the same image while their campaign was in progress and they were willing to pay a lot of money for such rights.
More and more photographers have started to produce stock footage as a way to grow their business. Clearly, there is increasing demand for video clips as well as a greater need for video than still images. One of the questions I’m frequently asked is “What are the best companies to represent my work?”
Getty has supplied Corbis contributors with the information below. For many the most important information is that after May 2nd Corbis contributors who have not signed a separate agreement with Getty Images will be released from their contributor contracts and all survival periods will be waived.
has filed a competition law complaint with the European Commission against Google Inc. The complaint follows Getty Images’ submission in June 2015, when it joined as an interested third party in support of the European Commission’s existing investigation into Google’s anti-competitive business practices.
The take over of the stock photography business by amateurs and part-timers is not new, but the long range implications are worth considering.
In 2014 500px introduced (500pxprime.com
), a licensing arm of its global online photography community that was launched in 2009 for the purpose of sharing and discovering images. Initially, prices were $50 for web use and $250 for print uses. The royalty share started out at 70%, but now it has been cut to 30%. Photographers are not happy with the pay cut.
Shutterstock has signed a 3-year exclusive worldwide distribution agreement with Starpix
, a boutique celebrity, red carpet and event photo company that provides photo coverage on the East coast for leading film studio clients and publishers.
has announced a partnership with PR Newswire
that will provide its customers with access to the Shutterstock 83 million+ image library of licensable photos.
Some Corbis photographers whose images have been integrated into the Getty Images collection tell me that their images are appearing high in the search-return-order for searches of their particular subject matter.
This story provides links to several stories that relate to the Visual China Group (VCG) acquisition of Corbis and the role Getty Images has been assigned in the transfer of Corbis assets to the Getty Images collection. Getty’s collection was marketed in China by VCG before the sale. The new enlarged collection with the addition of some Corbis images will continue to be marketed in China by VCG.
The Shutterstock Contributor App that contributors may obtain from the Apple App store has been upgraded to allow contributors to directly attach, upload and manage model and property releases to their images from their phones.
How low can prices go? Is the volume of images used more important than earning money when an image is used? Must we accept whatever the customer is willing to pay, or is it possible, at some point to say NO? If there is such a point where is it? Most photographer will agree there is some point where the people representing our images should say NO, but there is big disagreement on where that point should be.
I was recently asked for my views on where the stock photo industry is headed over the next few years, the value of the industry at present, and how I think the major players will adapt to the growing availability of user-generated content. Here’s my answer.
In recent seminars and webinars Getty provided contributors with information about buyer activity and tried to help them understand what customers need. One of the most important bits of information was that Getty is currently licensing rights to 10 RF images for every 1 RM. For years the average licensing fee for an RM image has been about 2.5 times that of an RF image. While the royalty share of an RM sale tends to be higher than an RF sale (about 35% to 20%) at a 10 to 1 ratio creators are likely to earn significantly more licensing their images as RF than as RM.
, has launched Megapixl.com
, a new website that utilizes machine learning to offer more refined stock image choices based on past user behaviors. This artificial intelligence (AI) utilizes past behavioral data garnered from millions of designers in order to determine which content is the most relevant and suitable for the individual user.
Veer has closed its doors and photographers have been released from any contractual obligations they had with Veer. Images belong to Veer photographers have not been automatically migrated to iStock, but photographers can request a transfer and sign a new iStock contract if they wish. Effective May 2, 2016, the Corbis Images and Corbis Motion businesses and websites will no longer be accessible.
Many think search will be solved with better Metadata. While metadata is important, there are limits to how far it can take the customer toward finding the right piece of content. This story provides links to a number of previous stories that deal with this issue.
Time is becoming an increasing important factor for art directors and image buyers. Bosses and customers are demanding more output and giving the art director less time to produce results. The time it takes to find the right (well maybe, just usable) image is an increasingly important factor to be considered.
A photographer recently called to my attention a keywording anomaly that those who want their images found might want to consider. The photographer said that when he prepares for a trip to another country he searches some of the popular photo sites for the country and the keyword “released.”
Charles Taylor is still trying to put together a company that will consolidate many smaller independent picture agencies into a single publicly traded company that will be traded on the AIM stock exchange in the UK. Back in 2014 Taylor’s organization was called GDI Media Limited
. The new version is called Avalon. More about it can be found here
Last fall, BVPA, the German association of picture agencies, asked me a series of questions about the U.S. market for stock photography and where I think it is headed. The following is what I told them along with links to a few relevant stories.
The Mega Agency
, a new global media business, focused on delivering editorial images, is pleased to announce that David Ellis has been recruited as UK Sales Director.
Agencies need to think hard about supplying contributors with more detailed information about exactly what is being requested and what is really selling. It used to be enough to provide general information about the broad categories of subject matter in demand. At that point they would leave it up to the individual creator to guess at what buyers -- with whom they have no contact whatsoever -- might want. That is no longer enough. Shooting based on gut feelings no longer works.
After reading my previous story
investors in stock photo companies as well as image buyers may ask, “Why should we care if professional photographers stop producing stock images?”
A Korean subscriber recently asked the following questions. “I notice you say that many photographers are unable to earn enough money and end up leaving the market. Is there any specific number that you can prove? How many photographers/contributors were there in the past and now?
A videographer wrote recently complaining that two of his video clips had been sold by Getty Images to Viacom for a broadcast show on Comedy Central. This show also appears on the web. These two sales were made through a Premium Access deal and netted the videographer a whopping $8.46 for the two sales.
There is a huge amount of focus on Visual Search and its potential for the stock photo industry. In my opinion Visual Search Will Not Solve The Problems Stock Photo Customers Face. Visual search can be very useful in finding an image that the customer has a copy of in hand. It can find all the uses on the Internet of a particular image, but that’s not what most customers want.
Recently, a photographer ask the following questions: Is stock photography a growing industry. I have read some analysis that say it is growing significantly, but others argue that free stock photography and microstock photography are leading photographers to leave the market. What is your opinion on that argument? Should a photographer upload the same pictures to as many other agencies as possible?
Over the past year, one of Shutterstock’s
engineering teams has spearheaded and modified computer vision technology to introduce more innovative search and discovery features and to improve the customer’s overall site experience.
Stock footage and photography company Dissolve
will be introducing its popular Liftoff program to filmmakers at NAB 2016, April 16-21 in Las Vegas.
It is getting harder and harder for photographers to protect their copyright. With PicScout, TinEye, Google Image Search and other reverse image search solutions it is easy enough to locate uses of specific images online. But, it can be very laborious to search one-by-one for particular images in a large collection, and it can be costly to have someone like PicScout do it for you.
Adobe Stock has announced that it now has over 50 million high-res photos, vectors, illustrations, HD videos including some 4K videos to its collection.
The annual CEPIC Congress
, the world’s largest event where licensors of still still and footage get to together to discuss issues facing their industry, will be held from 25 to 27 May 2016 in Zagreb, Croatia at the Sheraton Zagreb Hotel.
I want to call your attention to a couple of comments to my recent story “Curated Collections: The Future
.” It is important to recognize that there are some great images on most of the stock photo sites with tens of millions of images. But as we shove everything that meets certain technical standards onto these sites, it becomes harder and harder to sort through all the mediocre shots and find the few great ones.
As revenues have declined in recent years due to declining sales for the use of images in print, and increasing use of images on the web at much lower prices, many French editorial agencies have found it necessary to reorganize. Jean Michel Psaila, CEO and owner of Abaca Press
says, “The market has changed. We used to get €200 for print use. Now we get €5 for online use.”
has announced a three-year deal with The Associated Press (AP) to distribute AP's daily global photo and packaged video output for license to customers based in the United States. This milestone will also give U.S. Shutterstock editorial customers access to over 30 million photos and nearly 2 million video clips from, respectively, AP Images and AP Archive.
has made changes to its Extended License policy allowing users to produce unlimited copies of purchased media. Previously, customers purchased extended licenses for print or web usage of an image and were restricted by limits on the number of copies they could reproduce, for example for t-shirts, on-demand printed items, or e-cards.
If you’re a Getty contributor and your sales and revenue have been declining, it may be time to do some searches on Gettyimages.com as a customer would search. Input some of the generic keywords that a customer might use to find your images. See where your images fall in the search return order.
If you’re in the editorial photography business keep your eye on The Mega Agency
. This company is a new editorial stock agency founded by the people who started Splash. Splash later became a key part of the Corbis editorial offering.
It seems to me that all VCG bought when they acquired Corbis was: (1) The right to put out a press release saying, “We are the largest stock photo source in China,” (2) The removal of Corbis content from ImagineChina, which many believe was previously the largest stock photo agency in China, and (3) We bought a company from Bill Gates. Rumor has it that Bill Gates was paid $225 million for Corbis.
While there has been a great deal of discussion recently about the possibility of Congress creating a small claims process for visual arts, several visual artist groups, representing hundreds of thousands of creators, have joined forces to propose key components of potentially forthcoming small claims legislation. Collectively, the groups represent photographers, photojournalists, videographers, illustrators, graphic designers, artists, and other visual artists as well as their licensing representatives.
Getty Images has contacted Veer contributors to explain what will happen to their imagery as a result of the sale of Corbis to VCG
. Their imagery will not be integrated into the Getty Images collection. Veer contributors may apply to iStock for possible upload of their content there. The memo says:
has improved its systems for searching and finding the right video clip or image. In addition, it has introduced a Membership offering that provides significant saving for customers who pay monthly or annual subscription fees.
A photographer recently asked if I could explain why Shutterstock
is making such an aggressive effort to grow its collection. Currently, the company over 77 million images in its collection and is adding over 800,000 new images a week. As far as I can tell Shutterstock believes their customers want more and more choice not only in subject matter, but in newer, more updated images.
has reported Q4 2015 revenue of $115.9 million and a total of $425.1 million in revenue for all of 2015. The full year revenue was up about 30% from $328 million in 2014. Approximately, $8.6 million of the annual revenue was generated by Rex Features and PremiumBeat that were acquired during Q1 2015, and the impact of foreign currency exchanges. Excluding these contributions to revenue the company’s revenue growth was approximately 27% in 2015 down from 39% in the previous year.
The Good News
-- Getty has started offering some Corbis contributors who also have an existing contract with Getty the chance to have their Corbis images migrated to Getty. The Bad News
– One contributor was earning a 40% royalty on his Non-Exclusive RM contract with Corbis. Now Getty has offered him an agreement that gives him a 25% royalty.
Tomas Speight has joined Panther Media
GmbH as Chief Executive Officer. He will initiate a drive to grow the business into a global presence. Panther Media has a range of initiates relating to clients, international partnerships, as well as new content lines that will be launched in the near future. Further innovations beneficial to both photographers and clients are in the pipeline.
Many photographers who used to earn hundreds, and even thousands, of dollars for the use of one of their images think Shutterstock, and Microstock in general, are killing the stock photo business. Some Shutterstock contributors are even beginning to ask the same question. A reader recently asked for my analysis of why Shutterstock’s continued addition to its collection of over 700,000 new images a week won’t “drown it’s customers and risk losing its best contributors.”
Getty Images has sent Corbis contributors the following information about the migration of Corbis material to Getty representation. While some questions have been answered there are still a number of issues that are not clear.
The three public companies in the stock photo industry – Getty Image, Shutterstock
-- face major challenges that will probably be impossible for them to overcome. Adobe is the possible exception because it can approach the stock image side of its business as a loss-leader that supports the other 98% of its business.
Another leading global market research company, Technavio
, headquartered in London, has taken a look at the global still image market
and concluded that it will exceed USD 4 billion by 2020, growing at a CAGR (compound annual growth rate) of over 7%.
Since publishing “Next Step For Corbis Photographers
” last week, I’ve been contacted by a number of agents interested in talking to Corbis photographers who might be looking for somewhere else to place their work.
I’m getting a lot of requests from Corbis photographers that basically ask, “What should I do now!” Indications are that fewer than 20% of Corbis photographers will be offered Getty contracts. The actual number may be significantly less. Knowing who will and won’t be selected may not happen quickly. This story offers more thoughts on what's likely to happen and offers options for photographers to consider
Increasing numbers of stock photo buyers seem to be deciding that ever larger collections of images are not for them. At least as a first stop. The big question is finding an alternative since most of the better known sites – both microstock and traditional – are racing to add more images.
It may be time for stock shooters to take another look at Image Brief
. It started out as a place where customers would go to list a brief explaining the kind of imagery they needed for their next project.
, Inc. has announced an exclusive global syndication deal with BFA
, a leading lifestyle, fashion, art and entertainment content creation agency. Over 1.7 million editorial images in the BFA collection will now be available to Shutterstock’s Premier customers, which include some of the largest marketing communications companies and publishing houses in the world.
have recently posted information on tends they have spotted that they think will continue to build in 2016.
Adobe Stock has added over 100,000 4K video assets to its current collection of over one-million video assets. The site also offers over 45 million images and graphics. This story shows how that compares with other footage providers.
returns to Chicago on Thursday, May 5th to stage another networking and education event for art buyers and researchers who need images and footage. The venue will be the conveniently located Ivy Room at Tree Studios.
As microstock agencies race to grow their collections, there is an increasing demand for people to review submissions. Reviewers are expected to review 30,000 images a month, but according to one source the average tends to be around 40,000. Some of the more experienced are able to review close to twice the average.
In a previous story, I came to the conclusion that the Corbis properties VCG purchased probably generated in the range of $60 million in 2015
. Does that mean that after experiencing steadily declining Premium and Midstock revenue for several quarters Getty is likely to have a $60 million increase in 2016? I think the answer is No. Here’s a dozen reasons why.
Fashion photographers beware! Much of your market is about to disappear. Why bother dealing with temperamental photographer and models when customers can hang the clothes on a mannequin and give the mannequin a human looking body and expression with Photoshop. That’s what Looklet
If you’re a photographer who licenses your work as RM because you believe that’s the way to earn the most money (or a reasonable fee) when your pictures are used, it’s time to take a look at Offset. Many photographers are so opposed to microstock and subscription that they refuse to consider anything connected in any way with Shutterstock. If it is a Shutterstock initiative then it must be bad.
The good news for Corbis photographers is that there will be no third cut before their royalty share is calculated. However, there are still a number of issues that aren’t clear. This story offers some additional clarifications and insights and a number of questions that are still unclear and need to be answered.
If you produce footage you might want to check out a couple of new sights. The first is the Stock Footage Newsroom
where there are short summaries and links to full articles produced by Footage.net. This site will keep you up to date with what is happening at as number of footage distributors. The other is B-rollStock.com
In the UK photographers can receive royalties when someone photocopies a page from a magazine or book that contains their image. In December the EPUK discussion group reported that REX Features, a UK editorial agency purchased by Shutterstock a year ago, misrepresented its right to collect certain monies from DACS
on behalf of some of its photographers and falsely reported to the photographers what it had received from DACS. The full story is available here
VCG acquired parts, but not all, of Corbis’ assets. To understand what this means for the industry, it is important to have some idea of the amount of revenue the acquired assets generated in 2015? For a long-time Corbis has been thought to be the third largest seller of stock photography in the world after Getty and Shutterstock. If this is true, then how much does the combination of a significant part of the Corbis collection with Getty Images change the industry?
Getty Images has introduced Ultra Pack pricing which effectively lowers prices on all premium creative Royalty-Free images, Editorial images and Videos by between 8% and 31%. The only images not affected by this price reduction are RM.
The tedious process of uploading images for consideration by iStock is about to get much easier. On February 7th Kasper Ravlo will be launching a new tool called Q-hero
. The average time to submit a file for review will drop from over one minute per image to less than 1-2 seconds. Instead of being the slowest site for image submissions, iStock will become the fastest.
Shutterstock is not making enough money so they have decided to lower the royalties paid for Enhanced Licenses. Here's what it means for image creators.
In an effort to make it easier for more people to use Shutterstock imagery the company is partnering with Optimizely
. By integrating Shutterstock’s newest API
directly into their platforms, customers of these organizations will be able to easily search, preview, and license from the Shutterstock collection. Contributors will earn a royalty each time an Optimizely or Sprinklr customer licenses one of their images.
Corbis and Visual China Group (“VCG”; Shenzhen Stock Exchange:000681.SZ) today jointly announced that Unity Glory International Ltd. (“Unity Glory”), an affiliate of VCG owned by VCG’s major shareholders, has acquired the assets and brands of Corbis’ Images division, one of the world’s leading image archives and content licensing businesses. VCG is China’s leading visual communications and new media company and among the largest businesses in the image industry worldwide. Financial terms of the agreement were not disclosed.
Recently, I found a list on Pond5 of popular keywords customers use to find videos. Earlier this month I published a similar list that Videoblocks
had sent to its contributors a few months ago. I decided to search Pond5
for each of these words and record the number of returns. You’ll find the results in the chart below.
More images are not the answer. The industry needs to find a better way to present the images already in databases for customer consideration. Customers find it harder and harder to dig out the right image for their needs from todays large databases. That doesn’t necessarily mean that the right images aren’t there. It’s just that customers do not have time to search through all the available options.
is in the process of creating a collection of video clips that can be offered through low priced subscriptions. Contributors have the option of nominating their low-selling files for inclusion in the collection and will receive a minimum monthly royalties of $0.50 per item for every clip in the collection, regardless of downloads and usage.
is changing. It is spinning off the right clearance aspect of its business known as Greenlight
and renaming it Corbis Entertainment
. It is our understanding that the rest of the company including Creative and Editorial licensing will be sold off and to some degree dismantled. It is unclear to whom these operations will be sold or exactly how the dismantling will occur, but more information is expected to be forthcoming later this week.
Last week we posted a story “iStock/Shutterstock Comparison
”. Since then there have been some very informative comments on Microstockgroup
. You can find a link to these comments at the bottom of my story, or you can find them here
Landov Media, a small, but well respected Editorial agency closed its doors last week. It’s website http://www.landov.com/
says it is no longer available and thanks the company’s “many loyal clients for your business and support through the years.”
One of the keys to success in stock photography is understanding what customers want. Given that the worldwide customer base is so diverse, that is often difficult to determine. We all see lots of different image uses in our daily activity, but often these are of little help in determining what customers really want to buy. VideoBlocks
sends regular advisories to its contributors giving them information about the keywords customers use most frequently when looking for video clips. In this story you'll find a recent list of Top Selling Keywords.
Have you noticed that when a customer searches for “man” on some major agency sites a different number of images will be returned than if they had searched for “male.” An agent called this to my attention after hearing complaints from a number of customers about this problem when searching on GettyImages.com.
Yuri Arcurs, one of the most successful stock photographers in the world, is running another of his photographer training programs in Capetown, South Africa. This program is for 17 to 24-year-olds that are highly competitive, goal-oriented and have strong entrepreneurial and creative characteristics. Candidates must survive a two-week Boot Camp beginning February 1, 2016. (This is not marine training, but it will be an intense experience to determine what the candidates know and how quickly they learn.)
One of the big questions for a freelance photographer approaching a new client is: “What should I charge.” What do others get for doing the same type of work? What has this client paid in the past? Recently, I was made aware of a web site called “Who Pays Photographers?
” Photographers can go to this site, enter the name of a publication or organization they would like to work for and get some idea of what the organization has paid for previous jobs.
Most image creators believe that adding images to online searchable databases will grow downloads and sales. This is particularly true, when one assumes that the new images being added are better than the ones produced earlier because the image creator has improved through experience and has a better understanding of what customers want. However, an examination of the sales by iStock’s leading contributors indicates that adding images is often counter productive in terms of increasing downloads. In fact, contributors who add very few, or remove, images often show the greatest download-per-image in the collection.
To better understand the potential for an iStock turnaround it is worth comparing iStock and Shutterstock downloads. At the end of my report on Shutterstock’s Q3 results
I estimated the number of IOD (single image) and subscription downloads Shutterstock will have for 2015. For an explanation of how I calculated the iStock numbers see this story
. The following chart compares the sales of these two companies.
Previously, I have supplied an analysis (here
) and (here
) of iStock’s downloads in 2015 and the number of images 430 of their leading contributors have in the collection. While 430 is only a small percentage of iStock’s more than 100,000 contributors this small group has somewhere between 55,070,000 and 58,554.000 downloads since the company’s founding in 2002. I believe this represents about one-third of iStock’s total downloads.
An increasing number of iStock’s most productive contributors have been dramatically reducing their production of new images in the last two years.
Where is iStock headed? In 2015 single image downloads were DOWN significantly compared to 2014, and 2014 was down compared to 2013. The company introduced subscriptions in April 2014
and that has had a major impact on the decline in single image sales.
has recently been listed on a small cap tech stock exchange called the NEEQ (National Equities Exchange and Quotations). The exchange is also called the New Third Board Stock. The company’s stock code is 834877.
In early January Videblocks
will begin making clips from Discovery Channel’s, Discovery Access
library available through Videoblocks Marketplace
. Videoblocks launched Marketplace in April 2015, had 374,000 clips by August
and now has over 880,000. The Discovery material will quickly push them over one million clips.
The newsmedia struggles with the concept of reality and unbiased reporting, but what is reality? Is reality what can be recorded on film? Is it a JPEG rather than a RAW file? Is it only what is recorded in a video regardless of what might have been happening moments before the video started recording? If a digital file has been adjusted, or manipulated, can it still be an accurate representation of the truth of a situation?
For agencies that offer subscriptions, Image-on-Demand and Enterprise options, how do “Comp Use” images affect search algorithms? There is an increasing trend driven by Adobe Stock and Shutterstock Enterprise to allow customers to download a lot of images for comp purposes and only pay for the ones they actually use in a final deliverable project.
Ever since Getty Images invented Premium Access (PA) licensing image creators have been upset that their images were being licensed to some users for ridiculously low prices. Often images licensed in this manner are ones that have been extremely costly to produce. For at least one contributor Rights Managed PA sales now represent 66% of total sales at an average price of $12.00 and over half the sales are for $4.35 or less.
, a New York-based stock photo platform with Ukranian origins, has announces a $5 million funding round led by the European Bank for Reconstruction and Development (EBRD) via the EBRD Venture Capital Investment Program. Previously TMT Investments had invested $3 million in Depositphotos in 201. In this round EBRD contributed $4 million and TMT $1million. The transaction should be completed before the end of the year.
All drone operators must register their unmanned aircraft with the Federal Aviation Administration (FAA) by Feb. 19, 2016. Registration begins on December 21, 2015 and is free for the first 30 days. While the registration fee is only $5.00 the government is encouraging as many owners as possible to register quickly.
Congresswoman Judy Chu (CA-27), Congressman Tom Marino (PA-10) and Congresswoman Barbara Comstock (VA-10) have introduced H.R. 4241 – the Copyright Office for the Digital Economy Act or the CODE Act. This comes after months of discussion with various stakeholders, including several joint Member roundtables.
Sources tell me that Corbis representatives will be meeting with Visual China Group (VCG) next week in Beijing to discuss the Visual China’s possible acquisition of all, or part, of Corbis.
Six REX employees were laid off by Shutterstock earlier this week. One had been with the company for 34 years. I asked Shutterstock for an explanation.
PhotoPlus 2015 International Conference + Expo
welcomed more than 21,000 attendees from 67 countries and all 50 U.S. States. This year’s show also recorded the largest number of exhibitors in the past five years with 250, including 75 participating for the first time.
Shutterstock has launched a new editing tool in open beta. Shutterstock Editor
is a simple, fast and free way to edit photos.
What should we expect next from Adobe? The following is pure speculation. I have no inside information that the following is part of Adobe’s plan, but it seems logical to me that they will move in this direction in the near future. If they do it could benefit many image creators and possibly negatively affect some.
In its race to grow its image collection, Shutterstock has made it easier for new contributor to get accepted. New contributors used to have to submit 10 images for quality review. Seven of those 10 had to be accepted before the contributor was allowed to submit more images. Now, if only one is deemed acceptable the contributor can begin submitting more images. Here’s the way Shutterstock explains the change.
Shutterstock has provided investors with some very interesting information about their Enterprise pricing strategy and how it differs from their normal E-commerce pricing. You can find the “E-commerce vs. Enterprise Case Study” by going go to this link (http://investor.shutterstock.com/phoenix.zhtml?c=251362&p=irol-presentations
). Then open the pdf under “Investor Presentation” that was uploaded on 11/18/15. The chart explaining the Case Study is on page 25 of this 37 page pdf.
Adobe has announced that it has added over 1 million HD video files from the Fotolia collection to the Adobe Stock offering. These can be searched, downloaded and licensed directly on an a la carte basis within Adobe Premiere Pro CC and After Effects CC or from stock.adobe.com
for use with any CC desktop app. The video clips are also available to enterprise customers on a subscription basis.
If you love Shutterstock, are a Google Chrome user and want Shutterstock to know everywhere you go and everything you do on the Internet, you may want to install the new Shutterstock Tab
just launched today. You can get the tab free of charge by going to the Chrome webstore
So you want a career in photography. You like taking pictures. It’s fun. Wouldn’t it be great if you could get paid to do it? You’re a high school student about to graduate. Everyone says you need more education to have a chance at a good job. You’ve no idea how much you’ll have to earn to feed, clothe and house yourself, and maybe some day a spouse and family. But, it seems you should get more education in the career path you want to follow.
Users report that Getty’s standard editorial license offers the following: “Worldwide editorial use for 15 years (may not be used for commercial purposes or print covers). Unlimited seats. No limits on impressions and print runs.
” This is essentially a Royalty Free license for images that are being offered as Rights Managed. Unlike most RF, the price charged is not fixed and based on the file size delivered. The price may be negotiable depending on the customer. But once the image is delivered, the customer can use the image in multiple ways over a period of 15 years as long as the use is editorial in nature and not for some commercial purpose, or for the cover of a printed product.
This past weekend the Washington Post published a detailed insider view of the ISIS propaganda machine
that should be of interest to everyone engaged in editorial journalism. The writers – Greg Miller and Souad Mekhennet – were able to interview a number of ISIS videographers and production people who had worked for ISiS in the contested territory and were later able to escape back to their home countries.
Many stock agencies are consolidating and downsizing, but not Tandem Stock
. Founded in 2010, they have been growing at an average rate of 45% per year. Specializing in Outdoor photography, they currently have a tightly edited collection of 115,000 images from 930 contributors. They have discovered that the needs of their clients are extremely specific and they specialize in supplying images that cater to those needs.
has announced that industry veteran Kelly Thompson has joined 500px as Head of Marketplace. Thompson will oversee the development of new products to service the company’s growing number of advertising agency and large brand enterprise accounts, as well as the servicing of the company’s base of self-service marketplace customers.
One of the most useful seminars at PhotoPlus Expo
this year was the “Your Roadmap To Success” presentation by Judy Hermann. Judy is a past president of the American Society of Media Photographers
(ASMP), served as an Olympus Visionary for 10 years and was awarded the United Nations International Photographic Council’s Leadership Award for her work as an educator and industry advocate.
Photographers with a goal of maximizing earnings from the images they produce, and who continue to insist that in order to realize that goal their work must be licensed as Rights Managed (RM), may need to consider the new realities of the stock photo business.
Envato, an Australian company that has provided resources and educational services to the graphic design community since 2006, has announced that it will expand its operations to the United States in 2016.
According to Bloomberg
, Getty Images has found a way to raise a net $90 Million in an effort to revive its “Midstock” business.
Photography has become much more of a means of self-expression than a business. That’s not necessarily a bad thing unless you are trying to earn your living from the images you produce.
Recently, a European asked me how the editorial market for photography has changed in the U.S. the last 10 years. First, gross revenue for U.S. newspapers has declined about 60% from $49.3 billion in 2006 to $19.9 billion in 2014. As revenue has declined the space for editorial content, including pictures, has declined.
Since 2013 the House Judiciary Committee of the U.S. Congress has been engaged in a comprehensive review of the current Copyright Act. It has held 20 hearings and heard from 100 witnesses.
For decades Masterfile has been a leading provider of stock imagery to advertising, design and corporate communications. The company represents the work of many of the worlds leading image producers. Its collection is well edited and its website offers very efficient search. Currently, more than 70% of the company’s revenue comes from sales in North America and more than 80% comes from the advertising, design and corporate communications segments of the market that presumably need the highest quality work and have the budgets to pay for it.
Bloomberg has reported
that Corbis will be cutting about 15% of its staff. The information came from an internal memo sent to employees by CEO Gary Shenk, and obtained by Bloomberg.
reported $107.3 million in revenue for Q3 2015, a 28% increase over Q3 2014 and up nearly $3 million from the previous quarter. The increase was primarily due to a 22% increase in the number of paid downloads compared to a year earlier.
In an effort to compete with AdobeStock
, at the end of August iStock
began to test an offering of Small Monthly Subscriptions
with 10 and 25 download limits. The rates for 10 downloads are $40 for Essential (non-exclusive) images and $99 for the images contributors have supplied exclusively to iStock.
Recently, I asked AdobeStock
a number of questions about their operations. Their answers can be found below.
today announces the appointment of Luke Vines as Chief Operating Officer. Vines will begin the role with immediate effect, reporting directly into Christina Vaughan, CEO of CueSongs.
has developed an interesting way to use mobile devices to promote its historical collection. The Diomedia Historica (enter Historical Calendar at the App Store) to get the free app.
Rumors were flying in New York last week that Corbis
may be sold. The rumors are that Shutterstock
is interested in purchasing Corbis. The consensus seems to be that Corbis’ gross revenue is in the range of $100 million down from $225 in the mid-2000s. It is believed that about half of the gross comes from editorial and the other half from creative. (These figures may not include the rights clearance part of Corbis’ business.)
I just returned from the annual “Photo Week” in New York – two days at PhotoPlus Expo
, two-and-a-half days at the DMLA annual conference
and one day at Visual Connections
. Here are a few take aways.
Nancy E. Wolff, Counsel for the Digital Media Licensing Association (DMLA
) has written a very clear and detailed explanation of Why and When image creators need releases that was recently published on the American Society of Picture Professional (ASPP
) website. Anyone planning to license pictures of people, and in some cases object and other property, should be familiar with this information. Read the article here: http://aspp.com/the-law-releases-101-why-and-when-you-need-them/
Shutterstock's data team has identified the fastest growing colors over the past year by matching pixel data with image download behavior from our customers including brand marketers and creative professionals around the world.
The results of the Graphic Design USA annual stock survey are now available online.
Check it out
. Be sure to read the extensive comments of Graphic Designes that provide some important insights into what image creators should be producing, and stock agencies should be doing to provide better search ability of their collections.
Pearson has cut its full-year guidance to investors in a dire warning about the continuing "cyclical and policy-related factors which have been hurting our markets for some years." Its share price fell almost 17% to a value of $14.54 in New York. The company’s ADRs are now down 30.7% over the past six months.
has announced the expansion of its Lean In Collection
to incorporate positive gender images in an effort to disassociate itself from stereotypical stock photography. The 1191 images are available at "Signature Collection" prices of three credits.
What amazes me is why all the smart people in the publishing world think they have to give away all their information when they put it on the Internet. In theory if you get enough “eyeballs” then you can sell more ads and the revenue from the ads will cover your costs and generate a profit. But, that theory is not working.
eMarketer forecasts that the total worldwide ad spend in 2015 will be $569.65 billion. Global digital ad spend will jump 18% compared with 2014 and reach $170.17 billion, or 29.9% of the total advertising market.
has decided to focus its news collecting operation on video. They will continue to accept still images, but will limit the number of photos to 20 shots per submission.
A discussion of how image creation with mobile devices is changing stock photography and the photography business will be feature of the Digital Media Licensing Association (DMLA
) conference in New York on October 27th.
Masterfile is offering its customer a unique subscription plan to Crestock’s entire collection of 2.3 million photos, illustrations and vectors. Prices start at $50 a month to download 50 image with no daily download limits. For a one-year subscription commitment prices drop to as low as $37.42 a month to download up to 50 images per month.
Jacqueline Mahoney, an Associate with the McDermott Will & Emery law firm has reported that the U.S. Court of Appeals for the Ninth Circuit has reversed a district court decision and found that Minden Pictures, Inc. has the right to sue John Wiley & Sons, Inc. for the unauthorized use of stock images belonging to the photographers the agency represents.
After a long quiet period as a blogger, Yuri Arcurs has decided that it is time to comment on Adobe Stock
. Yuri is generally considered the most successful microstock photographer. For many years he was a strong advocate of non-exclusive representation, and placed his images with virtually every microstock distributor.
Using GPS data – both manually and automatically entered -- 500px has put together a selection of beautiful images from the 25 most photographed cities
of the world. These images are worth enjoying.
As more and more information consumers all over the world turn to the Internet for Information print publications are losing money. They can’t earn enough from Internet advertising to cover their costs. Traditionally, revenue from advertising has covered 50% or more of the total costs of operating a publication.
Scott Braut, Head of Content at Adobe, is scheduled to be the keynote speaker at the Digital Media Licensing Association (DMLA) (formerly PACA) annual meeting
in New York on Monday October 26, 2015 at 9:00am. Single session passes for the keynote address only are available for $65. For more information, see here under events
. (Hint: you may need to expand your window.)
Shutterstock, Inc. and Red Bull Media House agree to market and license a remarkable video collection filmed at some of the most remote locations around the world. Customers of Shutterstock will have access to thousands of rare aerial, time-lapse, slow motion, adventure, wildlife and landscape footage, all with the simplicity of a royalty-free license.
At Adobe MAX 2015 in Los Angeles today Adobe outlined its vision for a "connected creative canvas" where people create and share their work from anywhere. More than 7,000 graphic designers and photographers attended.
In a world where everyone is a content creator, publisher and editor, who do consumers most trust, and what do they expect from the content they consume? A new study from Adobe of 2,000 US consumers addresses these questions and more, revealing some surprising shifts in the content landscape:
Have you been watching the ads lately when you do online searches? Yesterday, I was reading a news story on Yahoo about U.S. manufacturing and three different Adobe Creative Cloud ads were delivered in connection with that one story. Two of the ads included the “St” icon promoting Adobe Stock.
Stock footage provider Dissolve has launched its premium royalty-free stock photography collection. It includes over 200,000 photos hand-picked from some of the world’s most acclaimed photography agencies, bringing the number of stock elements Dissolve licenses to over 1 million.
CEPIC has announced that its 2016 Congress will be held in Zagreb, the capital of Croatia, beginning May 25th thru the 27th, 2016. This annual event brings together stock photo distributors from all over the world. The 2015 event
was held in Warsaw, Poland and attended by over 400 people from 32 countries representing all aspects of the picture industry -- stock and press agencies, cultural heritage, video vendors and producers as well as crowdsourcing and microstock companies.
Footage.net has just completed a major redesign of its stock footage search and screening platform. The new streamlined user interface, which came online in mid-August, makes it easy and intuitive for Footage.net users to proceed from a footage search to a footage purchase.
Recently, an investor looking for information about Shutterstock, Getty Images and Adobe asked me if the stock photo market functions efficiently
? Here’s what I told him.
Corbis and NetSeer have announced the launch of the industry’s first global programmatic platform for premium in-image advertising. The platform enables advertisers to programmatically target and buy premium In-Image advertising content while providing new monetization opportunities for publishers to thrive utilizing the visual content on their websites.
Flickr is curating its collection of over 10 billion images and contacting selected photographers to determine if they want to participate in Flickr Marketplace
. The Marketplace is expected to prepare images for licensing by many of the industry's RF and Microstock stock photo distributors and to pay image creators 51% or what Flickr receives.
Video education is red hot. For over a year Matthew White and Domenick Propati, CEO of Footage.net have been working to develop Footage Access
, an electronic service that allows students and faculty members at Colleges and Universities to research, download, and have limited free use of stock and archival footage in their non-commercial projects.
Recently, I received some second hand information about a major editorial agency in Europe that licensed about 70,000 in 2007. The number of images licensed was up to about 400,000 in 2014. Sounds great. But, here’s the rest of the story. The average price paid for each use in 2007 was about $167.00. The average price for each use in 2014 was a little over $12.00. Consequently, in spite of the almost 6 times growth in the number of images used in 2014 compared to 2007 the total revenue generated in 2014 was less than half that generated in 2007.
The Getty Images
Board of Directors has appointed Dawn Airey to the role of Chief Executive Officer, as of October 12, 2015. Co-founder and CEO, Jonathan Klein is stepping up to the role of Chairman
, as announced on the company’s 20th anniversary in March of this year.
Are you tired of ads for things you absolutely don’t want of need interrupting your favorite news or entertainment TV shows? Almost one-third of every hour is taken up with ads. When you’re trying to read something online do the pop-up ads that are often very difficult to get rid of interrupt your reading and train of thought? Many in the general population want to get rid of these annoyance, but how is that likely to affect revenue for image producers?
According to Zenith Optimedia total worldwide ad spend was about $510 billion in 2014 and Internet advertising (incluiding mobile) was about $122.4 billion in 2014. By 2017 digital is expected to be almost one-third (32.3%) of all global advertising or about $188 million.
Adobe has made it easier for companies with multiple designers (a creative team) to access, manage and license images from one shared Adobe Stock subscription at no extra cost. The service called “Pooled Images” allows an unspecified number of team members to have access to the same Adobe Cloud account.
Stock footage provider Dissolve
has announced that it will add royalty-free photography to its creative offering on October 1 of this year. The move comes after two years of steady revenue growth and a burgeoning reputation in the footage-licensing market.
has hired photographers Chelsea Lauren, Rob LaTour, Stephen Lovekin, and Andrew H. Walker to bring the best event photography and celebrity portraiture to the company.
VisualSteam has announced the results of its annual survey of art buyers regarding the use of stock photography and video. Getty Images, iStock Photos, and Shutterstock take the top 3 spots (in that order) as the go-to resources for art buyers.
The New York Times reports that the National Geographic Society have been sold to Rupert Murdoch’s 21st Century Fox
for $725 million.
Scoopshot’s new focus
on providing image buyers with professionally produced on-demand photography, produced to precise specifications, is a dramatic reversal from the company’s existing strategy of supplying User Generated Content (UGC).
has launched Purestock
, a subscription service that currently has about 3 million images, vectors and video clips. All the material on Purestock has been sourced from an entirely different set of contributors than those who supply Superstock and none of the Superstock images can be found on Purestock.
has launched a new initiative that every professional photographer interested in working on assignment ought to consider. Their “Everyone’s Private Photographer
” initiative makes it easy for customers to input a location, anywhere in the world, where they need a photographer and immediately see a 9-image portfolio of each photographer operating in that area who might be able to perform a photo assignment.
has announced that after “thoughtful consideration and exhausting many different ideas” it will shut down Skillfeed
at the end of the month. They are no longer accepting new subscribers or instructors. The platform will continue functioning for existing members until September 30th when website will be officially shut down.
Scott Braut, Head of Content for Digital Media at Adobe will be the keynote speaker at the DMLA Conference
(formerly PACA) in New York from Sunday, October 25th through Tuesday, October 27, 2015. Braut will actually be speaking at 9:00am Monday morning.
has announced that it is running a promotion from September 1st to September 20th that will discount the cost of images by 50%. For this limited period single images purchased will cost $4.99 instead of $9.99. Normally the royalty percentage might be expected to be calculated on the lower price, but to the huge relief and appreciation of image creators Adobe has announced that “regardless of this discount occurring, your commission will be unaffected and you will continue to generate royalties at the current rate.”
allows you to place your photos in front of over 1 million members. You set your own prices and earn 70% of every sale. The arrangement is non-exclusive so you can simultaneously market the same images through any other outlet you want. There is no approval process. Everything you submit is uploaded.
Image users on the MicrostockGroup
website report that Shutterstock has “dropped the price of single On Demand sales from 2 for $29 to $9.99 for each image.”
had priced the images in its Marketplace at flat rates of $50 for web resolution, $250 for print resolution, and $750 for products for resale. Now they have introduced a second tier for images their editors deem of lower quality. The flat rate prices for images in this tier, called Core, are $35 for web resolution, $150 for print resolution, and $300 for products for resale. The prices for the first Prime tier will remain the same.
Every year millions of images are photocopied and used by commercial organizations around the world without any direct compensation to the image creator. Often this is because there is no practical way to track such usages, or because the creator cannot be easily identified. Nevertheless, commercial organizations recognize that they have an obligation, and a liability, to compensate creators for such uses.
has released a new infographic
with information about how demand for certain subject matter is changing compared to a year ago. They have also included sample image in each category to give photographers a sense of what customers want.
ZUMA Press Inc. (www.zumapress.com
), a leading visual media provider for the editorial community, has announced that it is now representing images from Fairfax Syndication (www.fairfaxsyndication.com
), the most comprehensive range of Australian content from a portfolio of over 300 publications and websites.
Over 4 days (October 21-24) attendees to this year’s PDN PhotoPlus International Conference + Expo
at the Javits Center in New York City will have their choice of more than 100 seminars
that include Photo Walks and Master Classes featuring the latest techniques and trends for photographers, filmmakers and digital imaging specialists.
, the leading marketing resource for commercial photographers and illustrators, will be the Principal Sponsor of this year’s Visual Connections Image Expo 2015
at the Metropolitan Pavilion in New York on October 28.
that photographer Art Dragulis took a photo of Swain’s Lock
along the C&O canal in Maryland and uploaded it to Flickr. Roughly four years later, he discovered Kappa Map Group was using his photo for the cover of its Montgomery County, Maryland atlas. He sued for copyright infringement. And he LOST.
When Rights Mananged images are represented by multiple distributors it is possible for agencies that had nothing to do with an initial license to collect a fee for secondary uses. Consider this situation.
According to Bloomberg
(July 30th) Getty Images Inc.’s bonds and loans rallied as a report to creditors showed improving profit after several quarters of sinking earnings.
has won the most images race with Alamy
. Shutterstock now has more than 60 million royalty-free images in its collection in addition to 3 million video and music clips for a total of over 63 million pieces of content.
Alan J. Goldstein, a professional photographer located in Silver Spring, MD has commenced a legal action against Metropolitan Regional Information Systems, Inc. ("MRIS"), located in Rockville, MD, for violations of the Copyright Act and the Digital Millennium Copyright Act. The legal action is Case # 8:15-cv-2400 (TDC) (D. Md.).
For new readers, or those who may have missed some of what I have written over the last few months, the following are a list of stories worth looking at to get a sense of where the industry is headed.
The new Adobe Digital Publishing Solution (DPS), the next generation in its groundbreaking Digital Publishing Suite, pioneers new ways for brands to deliver high-impact content to mobile apps and is likely to result in more images appearing in apps. It will also become increasingly difficult for image creators to know if their images are being used in apps, or not.
Is Shutterstock in Serious Trouble?
On August 5th the SSTK stock price closed at $50.75. On August 6th the company announced its second quarter results
and missed the projected revenue for the quarter by 1.5%. On August 7th the stock closed at $33.65, a 34% decline in 2 days. NO!
The company is not in trouble. Rather, financial analysts that closely watch Shutterstock are finally waking up to the realities of the stock photo business.
reported $104.4 million in revenue for Q2 2015, a 30% increase over Q2 2014. However, they missed their projected revenue estimate by $960,000. Investors were disappointed and the stock that had been trading at $50.75 per share the day before dropped 32.20% to $34.41 before the market closed. The average price per download during the quarter was $2.85 down from $2.87 in the previous quarter, and compared to $2.52 in Q2 2014. There were 35.9 million downloads in the quarter and they paid out about 28% of gross revenue in royalties to contributors.
In the subscription environment customers pay for -- and the image creators receive a royalty for -- many images that are never used in any type of deliverable product. Nobody knows how many. Adobe Stock has changed all that. Now Adobe gives users free use
to any images considered during the users design and creative processes. Users only pay for the images that actually end up in a deliverable product. As a result, creators may begin to see a significant decline in the number of images licensed.
If you’re a videographer and have been discouraged by low prices and low royalties for your work it’s time to check out Videoblocks
. In April at the National Association of Broadcasters conference the company added a new feature when they launched the Marketplace section of their site. Customers must have an annual subscription in order to access Marketplace. When they choose any of the Marketplace clips they pay an additional $49 if it is HD or $199 for 4K.