The traditional commercial market for stock images is slowly declining in number of units licensed, but there is a potential for a huge growth in sales to consumers. Advances in technology make it possible for new still images uses to blossom, but producers and distributors must embrace changing market realities.
Traditional picture sellers are missing a tremendous opportunity to assist customers in their search for images. Instead of limiting the search return order to one standard system chosen by the agency, agencies should offer customers a variety of options.
When I argued at the recent CEPIC conference in Malta that stock photo prices should be based on end use, one RF distributor asked, "Why is use pricing fair? When you buy a pencil, the price is the same regardless of how it will be used. Shouldn't photos be priced in the same way?" The answer is no.
Alamy has launched a program called Limited Use that makes it possible for those selling images as RM and traditional RF to make the same images available to some customers for nominal fees - without risking loss of revenue at the higher end of the market.
I believe the gross worldwide revenue generated from the licensing of stock imagery, both still photos and illustrations, is about $1.8 billion annually. This article focuses on licensing rights to stock imagery. The figures include wire service imagery made available through subscriptions and all other subscription products.
As the orphan works bill wends it way through the U.S. Congress, it is easy to appreciate what a nightmare it is for book publishers to try to clear rights to certain older images. Last week, Stock Connection became involved in a situation that illustrates the point.
OnAsia has released a significant upgrade to its Windows-based Image Keyworder software that includes a customized Alamy Mode for users submitting images to the UK-based photo agency.
Microstock sellers insist that simple pricing is a key to their success, but many of the current strategies bely that notion.
Getty Images, Inc. has called a special meeting of its stockholders, to be held at 9:00 a.m. Pacific time Friday, June 20, 2008, at its Seattle headquarters to consider and vote on the proposal to adopt the previously disclosed Agreement and Plan of Merger.
Tired of having to watch 18 minutes of commercials in every hour- long TV series? Next season, Fox will be cutting the commercials down to 10 minutes and giving viewers more entertainment.