Pricing

PIXTA Makes Business Alliance With Naver OGQ Market In South Korea

By Jim Pickerell | 194 Words | Posted 3/19/2019 | Comments
The Japanese microstock agency PIXTA which purchased Topic, a South Korean premium stock agency a couple years ago, has decided to make a business alliance with OGQ Co.,Ltd. in their "Naver OGQ Market." Naver is Korea's version of Yahoo or Google. The sales price for each image use will be 200 South Korean Won. This is equivalent to about $0.18 in U.S. dollars.

Getty To Push Exclusive RM

By Jim Pickerell | 701 Words | Posted 3/13/2019 | Comments
Getty Images sent out the following notice to image suppliers yesterday. Be sure to also see Getty Simplifying RM Exclusivity where I analyze the pros and cons of this plan for image creators. They said, "We will soon begin including a base level of Exclusivity into RM licenses called Market Freeze, which will allow customers exclusive use of an image for the combination of use, industry, geography, and duration of any commercial use license."

Getty Simplifying RM Exclusivity

By Jim Pickerell | 1012 Words | Posted 3/13/2019 | Comments
Will Getty’s move to simplifying RM Exclusivity be good for Image Creators? The following are several things RM contributors should think about. In particular, contributors who have co-exclusive agreements with Getty should question this new deal. See Getty To Push Exclusive RM for the full release on this new program

The End Of RM

By Jim Pickerell | 1002 Words | Posted 3/11/2019 | Comments
Getty Images personnel are telling some stock agency image suppliers that in 3 to 5 years there will be no more Rights Managed licensing. Everything will be RF. Currently, only 21% of the images in Getty’s Creative collection are RM. That is down from 55% in 2007, the last time Getty supplied detailed figures on gross sales of the various collections. Getty is also putting pressure on individual photographers to switch their RM images to RF.

How The Value Of Stock Photos Has Declined

By Jim Pickerell | 530 Words | Posted 3/7/2019 | Comments
Back in 2007 I was called on to place a value on a collection of wildlife stock images that were involved in a legal action. At the time I based the per-image value on the “average annual return-per-image” of the Getty Images collection. By dividing the gross 2006 RM revenue by the total RM images in the collection I determined that the average annual gross license fee for an RM image was $335.

What’s An Image At Getty Worth?

By Jim Pickerell | 736 Words | Posted 3/5/2019 | Comments
Yesterday, I received a call from a travel photographer who recently started contributing his work to Getty Images. He has about 200 images from various locations around the world in the collection. He just received a sales report for 3 Premium Access sales, each for royalties of under $1.00. He wanted to know who he could contact at Getty about such ridiculously low royalties.

Image Creators Need Better Sales Information

By Jim Pickerell | 865 Words | Posted 2/27/2019 | Comments
Image creators need better information about the kind of content that is selling. Are customers looking at higher priced content? Can creators earn more money if their images are in a collection like Offset where images are licensed for much higher prices? Should creators produce more stills? Should they buy new equipment and start shooting video that sells for higher prices? Shutterstock’s quarterly reports to investors aren’t very helpful in this regard.

Pricing For Today’s Stock Photo Market

By Jim Pickerell | 537 Words | Posted 2/21/2019 | Comments
An agent who has operated a small, specialist agency specializing in RM licensing for years contacted me recently and asked the following question. “I’m reworking (or trying to figure out) image pricing in bundle form (similar to OFFSET STOCK PHOTOS). I’m wondering if you’ve talked to them about whether their program might/might not be working?" Here’s my response.  

Low Slow Sales Growth For Shutterstock

By Jim Pickerell | 752 Words | Posted 2/15/2019 | Comments
Shutterstock will report its fourth quarter 2018 numbers on February 26, 2019. If the last three years are any indication, it is unlikely that there will be much evidence of additional sales growth. I’ve put together a chart of quarter-by-quarter sales since the beginning of 2014. The chart offers some interesting insights, particularly in regard to what has been happening in the last three years since the beginning of 2016.

More On Apple’s Photo Contest

By Jim Pickerell | 250 Words | Posted 2/1/2019 | Comments
Last week I reported on Apple’s new global photography contest. The 10 winning images will be used extensively in a massive advertising campaign including product packaging and billboards. The official contest rules say the winning entries will have “No cash value.”

How Much Has The Value Of A Great Photo Declined?

By Jim Pickerell | 259 Words | Posted 1/23/2019 | Comments
Want to know how much the value of a great photo that is used in advertising has declined? In 2001 Microsoft paid $135,000 to use Chuck O'Rear's image of a green rolling hillside with a pale blue sky to launch a major advertising campaign for Windows XP software. How much do you think Apple is willing to pay for an iPhone photo that will be used heavily in iPhone advertising? Hint: If you're a photographer you won't be surprised, but you also won't be happy!

Don’t Ignore Customer Needs

By Jim Pickerell | 1279 Words | Posted 1/3/2019 | Comments
In response to the article I published last week where I suggested that what is needed is a system that enables photographers to deal directly with customers Macintosh Smith commented “Isn’t this what PhotographersDirect.com has tried to establish?" Photographers Direct is a good first step, but in my opinion it has some major flaws. Consequently, I suspect it is generating very little traffic.

Stock Photo Pricing: The Future

By Jim Pickerell | 48 Words | Posted 12/21/2018 | Comments
In the last two years I have written a lot about stock photo pricing and its downward slide. If you have time over the holidays you may want to review some of these stories as you plan your strategy for engaging in the stock photo business in 2019.

Which Companies Get Images For Rock Bottom Prices?

By Jim Pickerell | 584 Words | Posted 12/14/2018 | Comments
Everyone knows that many images are being licensed for very low prices. Many feel that the people paying these low prices are small, start-up businesses that are so poor they can’t justify paying fees high enough to cover the costs of creating the image. It is hoped that if photographers help these businesses succeed in the initial stages, eventually when they are profitable they might be able to pay enough to enable image creators to actually profit from their efforts.

Call To Action - (CtoA)

By Jim Pickerell | 667 Words | Posted 11/26/2018 | Comments
Recently I was told by a stock agency that my Photographer Income Survey Results were not relevant to Specialist Agencies because the results are “rather negative and don’t offer a possible positive call to action.” In the following series of stories I will outline a “Positive Call to Action” for stock agencies.

Lower Prices: Last Thing Industry Needs

By Jim Pickerell | 864 Words | Posted 10/23/2018 | Comments
The last thing this industry needs is lower prices. However, it often seems that whenever someone wants to start a new business, or grow an existing one, they conclude that the most important distinguishing characteristic compared to their competitor must be lower prices. The new Onepixel offering clearly illustrates this point. A group of people with experience in the industry put together a new site. Based on their experience they are well aware of the type images in greatest demand by customers. They have previously built relationships with many of the creators of such images. They have a good idea for offering a small highly curated collection of images that will make it much easier for customers to quickly find what they need.

Onepixel: New Microstock Agency

By Jim Pickerell | 609 Words | Posted 10/23/2018 | Comments
A few former Fotolia employees have joined forces to launch a new microstock site called Onepixel.com.  While at Fotolia these people were able to learn the type of pictures that customers are most interested in buying and build relationships with many of the photographers who have been most successful in producing such images.

Subscriptions Or Individual Licenses

By Jim Pickerell | 844 Words | Posted 10/10/2018 | Comments
Over the weekend on Stockphoto@yahoogroups.com Rick Boden said, “I was getting serious about (putting my images with) Adobe Stock Images and then I realized they sell images via subscription. I have a very bad feeling about getting into an arrangement like that based on experience where my present agency (that) has a tie in with Getty where I am getting many royalties of less than a dollar because of subscription sales.”

Offset Testing New Pricing For Enterprise Customers

By Jim Pickerell | 223 Words | Posted 10/9/2018 | Comments
Shutterstock has announced that they will be testing some new pricing and promotions for their Offset.com brand in the next few months. Initially, they will only offer these prices to their Enterprise customers (customers who purchase through their Premier Platform). Their posted rates on the website of $249 and $499 will not change. Sources tell us that their tend to be more at the lower price than the higher.

Can Getty Repair Its Relationships With Creators?

By Jim Pickerell | 1129 Words | Posted 10/4/2018 | Comments
Recently, in a discussion with a stock photo agent the subject came up as to what it would take for Getty Images to repair its relationships with the Creator Community. I raised the issue late last year in “Why Creators Are Dissatisfied With Getty.”

Knowing What To Shoot

By Jim Pickerell | 1466 Words | Posted 9/25/2018 | Comments
Stock agencies do a very poor job of advising photographers what to shoot. Most successful businesses try to keep the people producing their products well informed about what is selling and what isn’t. They don’t want their workers wasting time (and costing them money) producing products no one wants to buy.

Storyblocks Changes Marketplace Commission Structure

By Jim Pickerell | 496 Words | Posted 9/14/2018 | Comments
In an effort to drive more Marketplace sales Storyblocks has lowered its commission to 50%. When the company (then known as Videoblocks) launched its Marketplace offering in 2015 the company offered still images and video clips at dramatically, discounted prices compared to its competitors. However, they paid creators 100% of the money received from the licensing of their work. As a result creators ended up earning more for each image licensed than they would if the image was licensed by one of the other stock agencies that paid royalties that were a small percentage of the total license fee.

Two Pricing Tiers: Licensed And Non-licensed

By Jim Pickerell | 1056 Words | Posted 8/17/2018 | Comments
It is amazing to me that no agency has created a two-tier stock photo marketing system similar to iStock’s, but for Licensed and Unlicensed images rather than Exclusive and Non-Exclusive. iStock has priced their Signature image collection 3 times higher than its Essemtial, Non-Exclusive collection. And they pay contributors a higher royalty rate for images licensed from the Signature collection.

Getty: More Concentration On Exclusive RM

By Jim Pickerell | 1158 Words | Posted 7/31/2018 | Comments
Getty is contacting its RM photographers with non-exclusive or co-exclusive agreements and asking them to convert all their images in the Getty collection to exclusive so Getty will be the only organization that can license rights to use the images. This may be a particularly difficult decision for photographers with co-exclusive arrangements if they typically license a fair number of uses directly to clients annually. All those future sales will be lost.

What’s In Demand At Shutterstock

By Jim Pickerell | 1425 Words | Posted 7/16/2018 | Comments
I’ve examined the number of images in certain keyword categories at Getty and iStock. Today, I’ve done a count of the number of Shutterstock images with the same keywords as the other two agencies to see if it is possible to draw any comparisons. I'll take a look at the comparisons of collection size between Getty and Shutterstock. In addition there are some interesting things to be learned when comparing the number of photos with the number of illustrations on the Shutterstock site.