Raising Stock Photo Prices

Here’s a way to raise prices without too much pain on anyone. Forget about raising prices on the top end sales. Instead, raise them a little bit at the bottom end. I recently examined licenses of some major suppliers to Getty Images and iStock. They received a royalty of less than $10 on 95% for the licenses. The average gross license fee of these lower end transactions was $5.12. Suppose instead of raising prices overall agencies add just a little bit to the gross license fee for their lowest priced licenses.