Shutterstock has announced the launch of its Dublin office with the intent to initially hire 40 professionals including engineering roles, and to potentially grow the team further over the coming years. This project is supported by the Irish Government through IDA Ireland.
One of the big mysteries in the stock photo agency business is the percentage of “
Unique images” licensed annually. Some agencies, like Shutterstock, report the total number of images licensed, but many of those licensed are used by multiple customers so the actual number of
different, unique images used is much smaller.
Imatag has analyzed over 120,000 images on the websites of 23 major news organizations in Europe and North America and determined that
only 3% of those published have credit or copyright metadata. Photographers will be surprised to learn the names of publications stripping data compared to those that credit photographers and leave metadata.
If you’re a photographer that counts on the licensing of stock images to provide a portion of your annual income the following are a few stories you should read. In the past decade stock photography as a business has declined dramatically. There is little hope that the situation will improve.
Back in 2016 Tony and Chelsea Northrup discovered that their image, originally published on the cover of their
Adobe Lightroom 6/CC for Photographers book, had been used by an Australian company on the packaging of a smartphone case, and the product sold in Australia and New Zealand without their permission.
Shutterstock is expanding its aerial footage collection in a new distribution deal that will deliver hundreds of high-quality 4K videos produced by the largest global drone operations company,
DroneBase. From a soaring bird’s-eye view of the biggest cities in the world to incredible coastline vistas, all of this immersive content is now available to license for commercial use on Shutterstock.
In two recent stories
Know Your Return-Per-Image and
Stock Photo Production Costs I discussed two very important issues for anyone trying to earn a portion of their living from stock image production. The issues boil down to
(1) clearly understanding the cost of producing your images and
(2) the return you’re receiving from sales of those images. No business can survive if it spends more to produce its products than it earns from sales.
One of the hardest things for stock photographers to calculate is their actual costs of stock image production. As in any business it is critical to understand your costs if you hope to eventually earn a profit from their production. This story will provide an outline of some of the things that need to be considered when determining costs. It will also provide some average costs figures that some leading professionals work toward.
Stocksy United, the artist-owned photography + cinematography co-op that has tightly limited its membership since its founding in 2012, has made a decision to open its doors to new contributors. Stocksy has seen continued strong growth since its founding due to careful selection of new contributors, tight editing and licensing fees considered reasonable by customers, but still fair to contributors. In 2015 revenue was
$7,928,745, up 126% from $3.5 million in 2014. By the end of 2017 revenue had grown another 26% in two-years to roughly
$10.7 million.
I would like to encourage every stock photographer to begin to calculate, on an annual basis, their Return-Per-Image (RPI) for each agency they work with. This is particularly important for those photographers who hope to realize a profit for the time and expense they invest in producing stock images.