Agencies/Distributors

Is RM Still A Viable Business Model?

By Jim Pickerell | 975 Words | Posted 5/19/2017 | Comments
Is Rights Managed(RM) licensing still a viable business model if your goal is to earn the maximum from your image collection? For most image creators the answer is clearly NO, particularly if part of the deal is to place your images exclusively with a single RM distributor.

Earning Revenue From Non-Selling Images

By Jim Pickerell | 672 Words | Posted 5/18/2017 | Comments
Many of the non-sellers are very good images and would sell if customers only had a chance to see them. Back in January in as story entitled “How Can Shutterstock Grow Revenue?” I outlined an idea for a two-tier pricing system that could not only work for Shutterstock, but many other distributors with large collections, and grow their revenue, even if there is no increase in the number of images downloaded.

Blend Free Shoot

By Jim Pickerell | 323 Words | Posted 5/10/2017 | Comments
Blend has launched a promotion they call “Monthly Free Shoot.” Each month they will offer their customers all the images from one entire Premium Royalty Free shoot for unlimited, absolutely FREE use, according to the standard RF license.

EyeEm Expands Into Video

By Jim Pickerell | 441 Words | Posted 5/10/2017 | Comments
On May 9, EyeEm announced the launch of EyeEm Videography Early Creator program a stock video platform that will use the same artificial intelligence that powers the still-image option to automatically keyword and organize videos. Current EyeEm users can upload clips between 5 and 40 seconds long as the platform prepares to completely integrate video into the EyeEm platform later this year. The company has already tested the system by invitation-only, with selected users submitting video in the aerial, urban, travel, food, and nature categories.

Enterprise Customers: Are They Good For Creators

By Jim Pickerell | 1425 Words | Posted 5/5/2017 | Comments
Shutterstock makes a big deal about expanding its number of Enterprise customers. The last number they reported for Enterprise customers was 36,000 and just this week they said that Enterprise customers generate 32% of their revenue ($41.6 million for Q1 2017). Getty has an Enterprise program for its best customers which they call Premium Access. We have no idea how many customers fall into this category, but based on examining photographer sales reports my guess is that it is at least as many as Shutterstock, and probably more. A few years ago Getty said that any customer that spent $6,000 a year with them could qualify for Premium Access. I suspect that number is much lower now.

Cultura Supplies RM To PantherMedia

By Jim Pickerell | 228 Words | Posted 5/4/2017 | Comments
Cultura RM is the first RM Collection to join PantherMedia after the company announced its new Rights Managed licensing strategy last month.

Shutterstock Q1 2017 Financial Results

By Jim Pickerell | 1234 Words | Posted 5/3/2017 | Comments
Shutterstock has reported Q1 2017 revenue of $130.2 million. This revenue was up 12% from Q1 2016, but exactly the same as revenue in Q4 2016. Revenue per download increased 7% from $2.77 in Q1 2016 to about $2.96. Revenue per download in Q4 2016 was $3.02. At the end of the quarter there were 132 million images in the collection and 6.9 million video clips. This was up from 116.2 million images at the end of 2016.

The Mega Agency Partners With New York Post

By Jim Pickerell | 344 Words | Posted 5/3/2017 | Comments
The Mega Agency has signed an exclusive syndication partnership with the New York Post, one of the most famous names in the American publishing world.

Videoblocks Gives Still Photo Producers 100% Royalties

By Jim Pickerell | 890 Words | Posted 4/27/2017 | Comments
VideoBlocks 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.

Panther Media Adds Rights Managed Licensing Option

By Jim Pickerell | 262 Words | Posted 4/26/2017 | Comments
Panther Media 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”.

Adobe Adds New Contributor Tools

By Jim Pickerell | 290 Words | Posted 4/26/2017 | Comments
Adobe Stock 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.

Alamy Contract Changes

By Jim Pickerell | 113 Words | Posted 4/26/2017 | Comments
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.

Is There A Better Subscription Strategy?

By Jim Pickerell | 946 Words | Posted 4/19/2017 | Comments
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.

Adobe Announces Partnership With Pond5

By Jim Pickerell | 478 Words | Posted 4/19/2017 | Comments
Adobe Stock has announced a partnership with Pond5, further expanding the video offerings in Adobe Stock. Sourced from an international community of artists across a mix of modern, highly sought after content themes, such as lifestyle, recreation, sports, cinematic and aerial footage, the addition of the Pond5 video library will give video producers and designers access to one of the industry’s largest and fastest-growing collections – all natively integrated into Creative Cloud applications.

Getty Turns The Corner

By Jim Pickerell | 590 Words | Posted 4/17/2017 | Comments
From and investors point of view, Getty may have turned the corner. However, this may not benefit image creators, particularly those from North America and the Western Europe. It is my understanding that gross revenue in 2016 was about $840 million, up about 4% from around $808 million in 2015. Until 2016, Getty’s revenue declined steadily for about three years as they struggled to get their prices in line with their major competitor, Shutterstock.

North American And Western Europe Production Declining

By Jim Pickerell | 1031 Words | Posted 4/14/2017 | Comments
Who is producing the majority of stock images that get used? Based on Shutterstock’s 2014 and 2015 financial reports about 37% of the company’s gross revenue came from North America, 35% from Europe and 28% from the rest of the world. Given these numbers it seems reasonable to assume that since North America and Western Europe seem to be where most stock images are used that is probably where most are produced. Back in the 90s and early 00s that may have been the case, but no longer.

Photo Conferences

By Jim Pickerell | 2805 Words | Posted 4/13/2017 | Comments
Each year there are three important events where representatives of stock photo agencies get together to share information – CEPIC, DMLA and Visual Connections. These events are also good places for photographers to meet stock agents and get a better understanding of industry trends.

15% Royalties At Getty

By Jim Pickerell | 759 Words | Posted 4/12/2017 | Comments
Get ready for 15% royalties. Getty has contacted some European agencies that supply the company with Royalty Free images for its Creative collection and told them that when their current contracts expire they will be terminated unless they agree to accept a 15% royalty.

Masterfile Restructures Its Business

By Jim Pickerell | 890 Words | Posted 4/7/2017 | Comments
Masterfile has filed a formal Proposal to Creditors under the Bankruptcy and Insolvency Act of Canada ("BIA"). This is not a bankruptcy. The Proposal process will provide Masterfile the opportunity to restructure its business with the objective of returning to profitability. This process is similar to a Chapter 11 filing in the USA.

Shutterstock To Showcase The Glamour Of The Met Gala

By Jim Pickerell | 300 Words | Posted 4/6/2017 | Comments
Shutterstock, Inc. announced today that it will again offer comprehensive coverage at The Metropolitan Museum of Art’s Costume Institute Benefit, more commonly known as The Met Gala. This premier annual event of the fashion industry will be held on Monday, May 1st at The Metropolitan Museum of Art in New York City. Among the attendees will be prominent and prestigious names in entertainment, fashion, sports, and business.

Global Still Image Market Growth Trends: According To Technavio

By Jim Pickerell | 904 Words | Posted 4/3/2017 | Comments
Technavio, a leading global market research company headquartered in London, has released its annual report on the Global Still Image Market, looking ahead five years to 2021. They say: “Technavio analysts forecast the global still images market to grow to USD 4.46 billion by 2021, at a CAGR of close to 8% over the forecast period."

123RF Looking To Go Public

By Jim Pickerell | 1018 Words | Posted 4/3/2017 | Comments
Andy Sitt, the Malaysian founder of 123RF, is seeking to raise the profile of his Chicago-headquartered stock image and design business among funds and investors in hopes of launching an initial public offering (IPO) within the next 12 to 18 months. "We're at that stage where we have to think of the next stage of the company and I believe that the next stage would be some form of exit. So (profiling the company) is more towards building it for a potential IPO," Sitt told DEALSTREETASIA.

Topic Images Acquired By PIXTA

By Jim Pickerell | 342 Words | Posted 3/30/2017 | Comments
PIXTA Inc. in Japan has acquired 80% of the outstanding stock of Topic Images Inc. of Korea from its parent companies, NEWSIS Co., Ltd. and NEWS1 Co., Ltd. for 130 million JPY ($1,164,780). The transaction took place on Feb 24, 2017. Topic has been selling high-priced stock images mainly in Korea, producing many of them by itself.  Topic is now a subsidiary of PIXTA and will receive PIXTA’s strong support for its business operation. However, Topic is continuously conducting its own business as an existing company.

Similar Content

By Jim Pickerell | 448 Words | Posted 3/24/2017 | Comments
Shutterstock may have decided the loading up of their collection with “Similar Content” may have gotten out of hand and may not be benefiting customers. They have recently changed their editing strategy and issued a notice to contributors saying, “Submitting subtle variations of the same image can be considered content spamming and is not permitted. We continuously evaluate our collection and remove images that do not meet our policies.”

RightSmith: Exclusive, Global Provider Of Amazing Race Footage

By Jim Pickerell | 472 Words | Posted 3/21/2017 | Comments
RightSmith Group, specialists in the licensing and management of high-value media archives, has partnered with Profiles Television, creator of The Amazing Race, to commercialize its enormous archive of stunning stock footage from the world-renowned TV series. Hundreds of hours of pristine footage covering more than 85 countries is now exclusively available for licensing by creative professionals via the RightSmith content licensing portal.