379
THE CHANGING FACE OF STOCK
February 24, 2001
By Allen Russell
Director of Photography for Index Stock Imagery
immediate past president of PACA
(Picture Agency Council of America)
The other day I ran into an old friend who has been a leading stock shooter for
many years. He has been represented by a top stock photo agency for over 10 years
and has always been a prolific shooter. As we discussed the current condition of
the stock industry, he commented, " I shot a total of only 18 rolls of film last
year." This at first shocked me because I have seen this photographer shoot that
much film in a day.
He went on to explain that he just could not justify making the investment to
produce stock under the current conditions at his agency. To begin with, the actual
terms and royalty percentages of his contract remain in question. He stressed that
it doesn't take an extremely keen businessman to pass, on a partnership that asks
you to put up the front end money and then produce a product on speculation without
even knowing what your royalty terms will be.
Next he discussed the dilemma of what to shoot. In the past, at his former stock
agency, he had a good relationship with a long-term editor and they discussed most
of his shoots in advance, which resulted in a high acceptance rate of images
submitted. Such a high rate of acceptance is also necessary for him, to make it
feasible for him to make the investment in producing stock. He has since moved to a
new agency. There, when he attempted to discuss a shoot with his editor, he felt
little confidence. To begin with, his editor had little experience in stock and
often gave him suggestions that he disagreed with and/or had no interest in
shooting. His comment was, "either they are way off base or I am, but either way I
sure am not pumped up to go out and produce after a talk with that editor."
Another thing bothering this photographer was that his agency had begun the
practice of hiring young photographers to shoot stock for them. It didn't
particularly endear him to this agency that they apparently were pursuing ways to
replace him. I could detect the pleasure in his voice as he related that he
understood that this experiment of bypassing independent stock photographers was
not bringing the agency success. Apparently, they were learning the value of the
veteran entrepreneurial freelance photographer.
Our discussion continued for some time, talking about a number of issues of
concern. I couldn't help but remember many other discussions we'd had over the
years about stock photo agencies. Always before he was very proud of being a part
of his agency and felt fortunate to be represented by them. In return, he worked
hard and produced good saleable images. This combination had produced a long-term
successful relationship. Regretfully, I cannot imagine his current relationship
bringing either him or his agency success.
As I walked away, my concern was not only that I had just had such a disturbing
discussion with a very good photographer. What worried me deeply was how often
I've been having similar discussions with photographers over the last few months.