, 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.
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.
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 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.
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.
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.
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.
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.
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.
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.)
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.
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.
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.)
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.
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.