"We are a broken industry that only has three choices: adapt, change or die," says Jack Hollingsworth. Though the veteran photographer continues to see immediate opportunity in traditional stock, Hollingsworth believes long-term success in this business requires a fundamental change in the business model.
Image Source has made about 6,500 of its images (approximately 5% of its total collection) available on several microstock sites. Prices have been discounted up to 80% below the fees charged for images from its core Imagesource.com collection.
The American Society of Media Photographers disclosed that last December it received $1.3 million from the Authors Coalition of America, an organization that distributes non-title specific royalties generated by photocopying American works abroad to its members. Permissible uses of the funds are restricted to educational and advocacy activities.