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IMPRESSIVE INCOME GROWTH FOR STONE PHOTOGRAPHERS
June 14, 2000
Between 280 and 300 Stone photographers earned in excess of $10,000 in 1st quarter
2000. Of these between 196 and 210 (70%) had 1st quarter 2000 earnings that were
20% higher that 1st quarter 1999.
Approximately 150 (50% of the 300) Stone photographers saw their earnings increase by
more than 50% in the quarter compared with 1st quarter 1999.
This type of earnings growth would indicate that Stone has a large group of happy
photographers.
Based on information Selling Stock has received in the past from a small sample of
photographers we were very surprised when Getty Images reported that Stone's sales
growth for 1st quarter 2000 was 45% higher on a currency neutral basis than 1st
quarter 1999. Getty Images agreed to provide Selling Stock with additional detail in
order to further explain how this gross sales number is spread among the
photographers.
On the basis of this information it is clear that, in contrast with much of the rest
of the industry, a significant number of Stone photographers are doing extremely
well, both in absolute dollar terms and in the percentage increases. It also seems
evident that wholly owned shoots are not a significant factor in the growth. Another
point worth noting is that the availability of RF through Getty Images is apparently
not killing licensed stock sales. Both RF and RP seem to be able to co-exist and
prosper together.
Getty Images told Selling Stock that, "20 percent of Stone photographers earned
$10,000 or more in the quarter," and that the total number of photographers who
earned in excess of $100 during the quarter was between 1400 and 1500. (It is
understandable that there may be a number of photographers who have images with
Stone, but have not submitted new images in a long time, and whose images still
generate an occasional sale. It is reasonable to exclude these people from the
"active" photographers list for the purpose of this type of calculation.)
It should also be noted that many of these 280-300 photographers are earning much
more than $10,000 per quarter, or much more than $40,000 annually. We did not ask
for, or expect to receive a breakdown of the higher numbers.
Another important factor to consider is what is happening to the 80% of photographers
(1120 to 1200) who earned less than $10,000 in the 1st quarter. About one-third of
this group (370 to 400) saw their earnings rise by more than 20 percent over the
first quarter of 1999. Another (370 to 400) had an earnings rise, but it was less
than 20%. Two thirds of the photographer who earned less than $10,000 in the quarter
saw an increase in their earnings. (In asking Stone to do these calculations we
picked the arbitrary 20% number believing that most photographers would be happy with
a 20% annual growth in sales.)
There were between 566 and 610 photographers (196 to 210 with royalties over $10,000
and 370 to 400 with royalties under $10,000) who had personal income growth from
Stone in excess of 20% on a year to year basis. Keep in mind that this is not all
Getty Images photographers, this is just Stone.
Getty Images stressed that they will not be providing this detail on a regular basis,
but they felt that it was appropriate for a one-time release.