Shutterstock has reported Q3 2020 revenue of
$165.2 million up 4% compared to $159.1 million in Q2 2019 and down from $159.2 million the previous quarter. Revenue per download was
$3.79 per-image compared to $3.40 in Q3 2019 and $3.61 the previous quarter. Total image and video downloads for Q3 were 43.4 million compared to
46.3 million a year earlier and down from 44 million from the previous quarter. At the end of the quarter Shutterstock had over
350 million images and
20 million video clips in its collection, for a total of 370 million pieces of content.
Hopefully this story about my photo career will help young photographers understand how difficult it will be to make long-range plans for their future. Many businesses are changing at an increasingly rapid and unpredictable pace. Whatever you think you want to do in your 20s may turn out to be impractical, or unfeasible, sooner than you expect. What seem like an exciting opportunity today may soon disappear.
Adobe has announced that they are putting together a $500,000
Artist Development Fund to commission artists from “underrepresented communities” to create diverse assets for AdobeStock’s portfolio. It is still unclear as to exactly the type of images they will be asking photographers to shoot. Also unknown is whether the contracts will only go to photographers from “underrepresented communities” to do the shooting, or whether they may go to any photographer who is willing to shoot “underrepresented community” subjects.
The first Digital Media Licensing Association (DMLA) virtual conference starts Sunday. Online sessions for the week-long conference will begin most days at 11:00am EDT and end by 5:00pm EDT. All sessions will be available online and you can attend from the comfort of your home. No need to travel.
Shutterstock, Inc. has announced the addition of Editorial Video, a new premium, full-service editorial video offering that is now available for license. Critical Past, Celebrity Footage and Viral Hog are just a few of the new partners who will distribute their engaging video content worldwide through Shutterstock’s Editorial Video. In addition, current partners’ epa and London Entertainment will begin providing high-quality video via the new service.
Many photographers who have entered the stock photo business in the last 5 to 10 years have trouble understanding why photographers who have been producing stock photos since the 1980s and 1990s are so unhappy with how the business had declined. I’d like to provide a little historical perspective.
Adobe Stock has launched a
Free Stock Image Collection containing about 70K images (50K pictures, 15K Vectors and 6K video). The first version has been built from the work of a few top contributors who have a significant volume of images in the main collection.
An article in Popsugar says
stock photography has a diversity problem. According to the author more stock images of black and brown people are needed.
In my previous story about the
Google Licensable Badge I made a mistake about when the badge would actually go live. It actually started appearing on the site on 31 August 2020. It will be interesting to see how much Google’s new Licensable Badge will help or hinder stock photo sales. To test it I did a search for
“Office Workers.” Then you are given several options including one for “Clip Art” which seems to be all illustrations. and another for “Stock Photos”. I clicked Stock Photos and among the options given are “Royalty Free” and “Stock Photography”.
Dreamstime has announced the start of a celebratory month to mark its 20th anniversary this September. Dreamstime.com was registered in 2000 and disrupted the stock photography market by lowering prices manifold and enabling many photographers to join the industry. In 2004, it gained a top 3 position and has continued to experience sustained and rapid growth, evolving from a handful of photos to featuring 145+ million files in its online library and employing its own proprietary AI, PhotoEye, for filtering the now steady 3 million monthly approvals in 2020.
The IPTC, the global standards body of the news media will be conducting its 2020 IPTC Photo Metadata Conference online this year and it is entirely free for anyone to attend. The conference will take place on Tuesday 13 October 2020 from 15:00 to 18:00 UTC time. (That’s 11:00 to 14:00 EDT.)
In an effort to better understand how the global pandemic and cultural movements have impacted the stock imagery industry, Adobe surveyed 600 global creatives in July 2020. Creators feel challenged in today’s creative environment, and 82% of respondents believe 2020 has forever changed the way they will create.
A
Getty Images photographer asked if I could explain how Getty calculates its Premium Access (PA) deals where prices for image use vary widely? He pointed out that on his most recent statement he had a number of PA sales for $0.11 and one for $286.00. The vast majority of PA sales (roughly 60% of all sales) are near the low end, but there are also occasional extreme outliers.
Last week Google announced it’s intention to launch
Google Licensable Badge a function that will place a badge on images which require licensing before use when they are found by anyone doing a Google search. It is expected the launch will happen in the next couple of months.
A young man studying photography wrote recently and asked if I could supply him with some accurate stock photography analysis. I told him I could, but he
wasn’t going to like what I had to say. (This article is free to all readers, but there is a number of links within the story that require payment if readers want more detailed information.)
The schedule for the Digital Media Licensing Association (DMLA) Conference, October 25-30 is now available
here. Online sessions for the week long conference will begin most days at 11:00am EDT and end by 5:00pm EDT. There will be two keynote addresses. On Monday at 11:00am Paolo Malabuyo, Director of UX at YouTube will speak on Embracing Complexity.
With the decline in public sporting events due to Covid-19, and thus the need for photo coverage, many sports photographers have seen a significant decline in demand for their services. But media companies still have time slots and space to fill. Consequently, they are turning more to documentaries and coverage of historical events to fill their gaps. In the UK this is great news for archies like Colorsport whose collection of sporting imagery goes back to the 1880s.
If you are a U.S. photographer hoping to earn at least a portion of your future living expenses from selling or licensing rights to the images you produce,
it is time to seriously reassess your business plan. If photography is a hobby. If the pictures you produce are for personal enjoyment and their earning potential is unimportant. If you have no need to earn revenue from your efforts, by all means continue to take pictures. But recognize that no matter how great your images might be, in all likelihood any future financial compensation you receive will be miniscule compared to the time and effort expended.
The Digital Media Licensing Association (DMLA) Conference will be virtual this year and available to registered attendees for a full week from October 25th through Friday the 30th.? It is expected that there will be nearly 25 sessions, including two keynotes, nine panels and more than a dozen roundtables, all conveniently stretched over the week and available to you from the comfort of your home.
The Google Licensable Badge concept has been discussed for more than
two years and seems to be getting closer to a release. Photographers will need to put a code in the IPTC header of each of their images. When a Google search finds such an image it will display the Licensable Badge with the image indicating that the image needs to be licensed for use. The viewer can then click on the badge and determine where they need to go to negotiate a license for use.
In June German photographer Robert Kneschke did an indepth analysis of the portfolios on the Fotolia website. Adobe displays all the images it represents on both the Adobe Stock and Fotolia websites, but less information is displayed on Adobe. The following information should be an accurate picture of what can be found on Adobe Stock as well as Fotolia.
If you’re a freelance photographer trying to earn a living taking pictures, and finding photo jobs few and far between during this Covid 19 pandemic, you should read
this story. Adam Pratt is one of many freelancers who has seen the demand for his services as a photographer decline. As a result he has re-invented his business. He has been able to use his photography skills and training to turn from taking pictures to organizing personal photos for families.
On Wednesday
Shutterstock announced a public offering of 2,580,000 shares of its common stock at a price to the public of $48.50 per share. Of this total 2,064,000 of the shares are owned by Jon Oringer (Shutterstock's Founder, Executive Chairman of the Board. The other 516,000 shares are owned by the company. Mr. Oringer will net
$100,104,000 from the sale of his shares and the company will earn $25,026,000 from its sale of 516,000 shares bringing the total for the public offering to $125,130,000.
If you would like insight into the kind of images that are in demand and what you should be shooting you might want to take a look at
AdobeStock. Adobe offers some features other major agencies don’t. Exploring the site could help you decide what kind of images might earn the most money for you.
After publishing our article
“Getty’s RF ‘Market Freeze’: Expensive Customer Mess?" I received the following clarifying message from Matthew McKibben, Getty Images, PR Manager in The Americas. He said: