Articles by Jim Pickerell

Getty Debt

By Jim Pickerell | 1330 Words | Posted 9/18/2018 | Comments
Many in the industry are concerned about the level of Getty Images debt and what that might mean for the future of the company. The following is some general information about the financial status of the company. It is not clear how the debt might affect the future. Getty Images has about $2.367 billion in debt. About $1.8 billion of that is in Term Loans at 4.37%. Back in 2012 they had about $2 billion in Term Loans so in the past six years it appears they have paid down about $200 million of the principal in addition to the annual interest. The terms of these loans is unclear and may vary.

Getty To Supply Amazon Echo Users With Photos

By Jim Pickerell | 520 Words | Posted 9/17/2018 | Comments
Getty Images, has agreed to make Getty’s award-winning collection of sports, news, entertainment, archival and creative images available to enhance the voice responses from Alexa on all Echo devices with a screen. Exactly how image creators will be compensated for this use of their images has not been explained.

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.

Landslide Vote on Copyright Directive in EU

By Jim Pickerell | 462 Words | Posted 9/14/2018 | Comments
On September 12th the European Parliament voted in favor of a Copyright Directive by more than 200 votes. The Directive will provide tools to ensure fair remuneration for creators. The landslide vote is clear evidence that the EU intends to apply some controls on the tech giants.

Image Quest Marine Appoints New Library Team

By Jim Pickerell | 194 Words | Posted 9/13/2018 | Comments
Specialist marine photo library, Image Quest Marine, is re-launching with the appointment of a new library team. Eleanor Novick is joining the archive as Library Manager, bringing 10 years of industry experience, including over six years working as Senior Picture Researcher at Lebrecht Photo Library.

Preliminary Income Survey Results

By Jim Pickerell | 390 Words | Posted 9/12/2018 | Comments
On August 31st I published the Photog Income Survey in an effort to get a better idea of what photographers worldwide are able to earn annually from the images they produce. To see all eight questions and some background information before starting to respond to the survey click on this link.

Obituary: Scott Braut (1971-2018)

By Jim Pickerell | 392 Words | Posted 9/12/2018 | Comments
Scott Andrew Braut passed away on September 7, 2018, just short of his 47th birthday. Known for his big smile and engaging stories, Scott touched everyone he met. After his family, Scott's passion was photography. Known throughout the industry as a tireless advocate for photographers, Scott spoke around the world empowering individuals and businesses to create content.

Survival Rights

By Jim Pickerell | 773 Words | Posted 9/6/2018 | Comments
In today’s stock photo environment, the concept of “survival rights” in a contractual agreement between photographer and stock agency no longer makes sense. Many stock photo agencies have clauses in their photographer contracts that allow the Agency to continue to license rights to the photographer’s images for years after either the photographer or the agency terminate the agreement. If the agreement is “exclusive” then the photographer cannot do anything to try to generate revenue from the images, even if the Agency has not been generating much, or any, revenue from them for the photographer.

Vimeo Launches Stock Footage Marketplace

By Jim Pickerell | 647 Words | Posted 9/5/2018 | Comments
Vimeo has announced the launch of Vimeo Stock, a new global, royalty-free stock marketplace featuring an exclusive collection of high-quality video footage sourced directly from Vimeo’s community of iconic creators. Vimeo Stock unlocks content from Vimeo’s world-renowned community of storytellers, redefining what stock footage can and should look like. Vimeo Stock contributors keep 60-70 percent of revenue generated from their licensed clips (versus the average industry cut of ~35 percent), while subscribers to Vimeo’s paid membership plans always save 20 percent on all stock purchases.

Getty Images Press Release

By Jim Pickerell | 797 Words | Posted 9/5/2018 | Comments
The Getty family has taken full control of Getty Images Inc. from The Carlyle Group ("Carlyle"). Through the transaction, the Getty family will acquire all of Carlyle's equity interests in Getty Images for cash plus units that provide Carlyle with an ongoing financial interest in the future growth of the Company. The transaction is subject to customary closing conditions and is expected to close by the end of the third quarter of 2018.

About Jim Pickerell

Jim began his career in 1963 as a freelance photojournalist in the Far East. His first major sale, a Life Magazine cover, was a stock photo of the overthrow of the Ngo Dinh Diem government in Saigon, Vietnam.

He spent the next ten to fifteen years focusing on assignment work, first as an editorial photographer, and later in the corporate area. He regularly filed his outtakes with several stock agencies around the world.

As the stock side of his income grew, Jim studied the needs of the stock photo market, and began to devote more of his shooting time producing stock images. At about this time the 1976 change in the copyright law went into effect, and the industry began to see rapidly growing demand by commercial and advertising users for stock images.

In the early 80's he helped establish the Mid-Atlantic chapter of American Society of Media Photographers (ASMP) and served as Vice President, President and Program Chairman over a period of six years. He served on the national board of ASMP for two years, was on the committee that produced the ASMP Stock Handbook in 1983, and was active in the fight to reverse the IRS rules that required capitalization of all expenses of stock photo production.

In 1989 he published the first edition of Negotiating Stock Photo Prices, a guide to pricing hundreds of stock photo uses. The fifth edition was published in 2001. In 1990, he began publishing Selling-Stock, a bi-monthly newsletter dealing with issues of interest to stock photographers and stock photo sellers, with particular focus on issues related to marketing stock images. Selling-Stock is recognized worldwide as the leading source of in-depth analysis of the stock photo industry. As a result of his many years in the industry and his work with Selling-Stock, Jim has an expert understanding of the stock photo industry, its standard practices and developing trends. He frequently provides consulting services on stock industry issues to photographers, stock agents and individuals in the investment community.

In 1993, his daughter, Cheryl, joined him in the business. Together they established Stock Connection, an agency designed to provide photographers with greater control over the promotion and marketing of their work than most other stock agencies were offering. The company currently represents selected images from more than 400 photographers.

At age 76, Jim continues to follow stock photo industry developments on a day to day basis and expects to continue to do so far into the future.