Articles by Jim Pickerell

Advantages Of MRR For RF Seller

By Jim Pickerell | 706 Words | Posted 10/2/2007 | Comments (5)
All image sellers win with MRR. Possibly the biggest benefactor of such a pricing strategy is traditional RF (TRF).

Ibid To Shutter Operations

By Jim Pickerell | 135 Words | Posted 10/2/2007 | Comments

MRR Usage Categories Defined - Part 3

By Jim Pickerell | 757 Words | Posted 9/28/2007 | Comments (1)
Here are uses included in each category of the Modified Rights Ready (MRR) business model. Any use not specifically included in the first 15 definitions falls into the "Other" category and must be negotiated. In addition, uses in several different categories are not permitted unless each category is purchased, or they are all commercial uses and that category is purchased.

MRR Prices - Part 2

By Jim Pickerell | 511 Words | Posted 9/28/2007 | Comments (1)
Here is a suggested strategy for MRR pricing. All the prices are for nonexclusive use of an image in a single project or campaign. Multiple uses of a picture for several different campaigns, or by different customers must be negotiated. Exclusive uses must be negotiated. Price is unrelated to the size used, the length of time used and the user's industry. The only factor affecting price is circulation, with the exception of cover uses that must be negotiated.

Modified Rights Ready Pricing - Part 1

By Jim Pickerell | 808 Words | Posted 9/28/2007 | Comments (1)
My proposed new pricing strategy can best be described as a Modified Rights Ready (MRR) model. It uses some of the basics of RR as designed by Getty Images, but overcomes many of the problems with Getty's model. In an effort to achieve maximum simplicity, Getty lumped different types of uses into a single category and ignored important categories at the low end. I have broadened the number of categories to 16.

New Business Model - Issue 9

By Jim Pickerell | 424 Words | Posted 9/26/2007 | Comments
Is it all about the customer? Customers will always want more for less, but at some point, there has to be enough revenue for the producer to justify continued production.

New Business Model - Issue 8

By Jim Pickerell | 684 Words | Posted 9/25/2007 | Comments (1)
Buyers want a simple, easy-to-use pricing system that allows them to use any image they can find at a price they can afford. None of the existing pricing systems adequately addresses this issue.

New Business Model - Issue 7

By Jim Pickerell | 426 Words | Posted 9/24/2007 | Comments
Because value received should be the basis for pricing image use, just as it is for pricing uses in these other areas of commerce. When a customer asks why you charge them more than you're charging "X" to use a particular image, the answer is that in your judgment, the customer is receiving more economic benefit.

New Business Model - Issue 6

By Jim Pickerell | 456 Words | Posted 9/21/2007 | Comments (1)
The explosion of growth in content means the average return per image (RPI) will fall. However, it is no less expensive to produce images than it used to be. In the last four years, Getty's gross revenue from still-image licensing has grown about 50%, but not nearly as fast as the number of images added to the collection. As a result, image suppliers must produce more images each year just to stay even.

New Business Model - Issue 5

By Jim Pickerell | 792 Words | Posted 9/20/2007 | Comments (2)
Basing price on the size of a digital file is extremely unfair to the customer, as well as the seller. File size has almost no relationship to how an image will eventually be used, or the value the customer will receive from its usage.

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.