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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.
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.
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.
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.
has hired Scott Braut, formerly VP of Content at Shutterstock. He has been named Head of Content and will drive the company’s overall content strategy and operations for Creative Cloud
. Adobe says content is a strategic area of growth and focus as it builds a growing, strategic creative marketplace. Scott has over 20 years of experience in content licensing, product development, eCommerce, and digital media.
Hong Kong based Super Image Market
launched in November 2014 has established a simple “Pathway” for making images available to customers rather that operating as a traditional agency or distributor. Contributors establish the license fee for each of their images on an image-by-images basis. SIM pays them 80% of every sale. (During the initial launch period until the beginning of 2016 contributors will receive 100% of every sale.)
(SSTK) was under heavy pressure Tuesday (-7.2%) after Morgan Stanley initiated coverage on the stock with an Underweight rating and a price target of $40. The company traded down 6.49% on Tuesday, hitting $52.33. About 6% (2,134,222 shares) of the company’s stock traded hands. Morgan Stanley analyst Dean Prissman said based on their proprietary AlphaWise study and bottom-up analysis, they believe Adobe's aggressive entry into Shutterstock's market is set to pressure growth.
Visual China Group (VCG), the Getty Images representative in China, has resumed trading on the Shanghai Stock Exchange and Shenzhen Composite market in China. The stock closed at 27.52 RMB ($4.40) per share up from 25.02 RMB ($4.00) last week when trading was suspended.
Lately, I’ve been getting a lot of questions from investors trying to assess the stock photo industry growth potential and figure out where Shutterstock, Adobe and Getty Images are headed. In general here is what I’ve been telling them.
An increasing number of iStock’s most productive contributors seem to be pulling back on their production of new images. Of the 430 photographers and illustrators we have been tracking for more than four years only 34% have added more than 100 images to their collections in the last six months. That leaves two-thirds of this group of contributors who have added fewer than 100 images or removed images from the collection.
Since 2009 I have been tracking the image downloads of some of iStock’s leading contributors. Beginning in 2012 I increased the number of individuals tracked on a semi-annual basis to 430. While 430 is only a small percentage of iStock’s total contributors which number more than 100,000 combined this small group has at least 55,479,000 downloads and given the way iStock reports these numbers possibly as many as 58,416,000 downloads. I believe these numbers represent about one-third of all iStock downloads since the company’s founding in 2002.
Downloads for 430 of iStock’s leading contributors have continued their steady decline in the first half of 2015. Getty had hoped that the launch of iStock subscriptions
in April 2014 and the launch in September 2014 of a single price for images
, regardless of the file size needed, would turn iStock’s fortunes around and bring customers back from its competitors. Neither strategy seems to have worked.
, has altered its subscription plans to feature a monthly instead of daily quota of downloadable images, and is allowing the carrying over of unused downloads. The company says, “users will now effectively never ‘lose’ image downloads as unused downloads will roll over into the monthly quota amount, making Dreamstime the most convenient and flexible solution in the industry today.”
At its annual General Meeting (AGM), held this year in Paris member owned Magnum Photos
nominated six new members: a record breaking number. They include: Matt Black
, Carolyn Drake
, Lorenzo Meloni
, Richard Mosse
, Max Pinckers
and Newsha Tavakolina