It time for rights-managed sellers to adopt many aspects of the microstock pricing strategy.
The immediate reaction of many RM sellers will be, “I’ll never sell my images as royalty-free.” That’s not what I’m proposing. Photographers will continue to manage the rights to their images. They will continue to be able to license exclusive and restricted uses to their images. But from the customer’s point of view the basic pricing model will look and feel just like the microstock model that they have come to prefer.
If iStock is really interested in improving the quality of its
collection and bringing the work of the best and most experienced
photographers into its top end collections it needs to drop the
requirement that exclusive photographers not have images that are
licensed as RF with any other agency. All the company really needs is
that the specific images they represent, and any similars, not be in any
other collection. They don’t need to define “exclusive” this tightly.
It is interesting that even Getty Images only requires “image
exclusive”, but iStock want to have more control over the lives of its
photographers.
An exhibit of the work of several young photographers who are
participating in the Young Photographer Alliance mentoring program is
opening at the Calumet Gallery, 22 West 22nd St, New York City from
January 14-28. The gallery will be open from 8:30 to 5:30 Monday thru
Friday and 9:00 to 5:30 on Saturdays, closed Sundays.
2011 may be the year when the stock photo industry returns to the idea
of exclusive representation -- specifically, being exclusive with a
microstock agency. For many year the widely held belief has
been that the way to maximize returns was to get your images represented
by many distributors. Now, iStockphoto’s has developed an exclusive strategy that may bring
about a change in this way of thinking. While there are several
downsides for image producers to the iStock strategy, the upsides may
more that compensate for the difficulties.
Many believe the concept of business ethics has become an oxymoron. Do a Google search and you’ll find reams and reams of explanations of what ethical business practices are, or should be. Every major corporation has a place on its web site that outlines the company’s ethical principles. Some companies test all employees annually to insure that they clearly understand the company’s ethical policies and procedures.
Often these principles seem to boil down to two over riding rules: (1) Maximize Shareholder and Manager Wealth and (2) Do What Is Legal.
John Fowler points out that his strategy for running a stock photography business isn't working, acknowledges that he needs to make changes and asks for ideas as to what those changes should be. I added some of my experiences and perspective and encourage readers to suggest positive ways forward.
A reader just forwarded to me a list of 50 sites with free photos. One
of the interesting things about some of these sites is that some of the photographers didn’t intend for their images
to be made available for free. By using PicScout’s ImageExchange I was able to determine
that a number of the best images on some of these sites seem to have
been grabbed from paid sites, particularly Dreamstime.
For almost two years I have been following the sales of 197 of iStockphoto’s top sellers.
The tendency has been to think of these people as photographers, but in
fact 98 of them, or almost 50%, list their job description as something
other than photographer.
Ron Chapple, one of the first traditional adopters of the micro-priced model into his larger stock business, says that chances of making a sale have decreased by 90% in recent years.
The Association of Stock Image Licensors and Thriving Archives have launched
the ACSIL Global Survey of Stock Footage Companies 2,
a comprehensive review of the stock footage business. The survey will
assess overall business conditions within the stock footage industry and
provide strategic, action-oriented information and insights to industry
leaders. Participants who complete the online survey will be eligible
to receive a complimentary summary report of the results and a 50%
discount on the purchase of the final report.