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Here’s a simple thing every photographer and stock agent can do to protect their copyright. Tell Congress to Vote “Yes” on H.R. 1695
– a bill to Modernize the U.S. Copyright office. It will take you less than 5 minutes. Go to http://copyrightalliance.org/get-involved/add-your-voice/
. Click on “Take Action.” The Copyrightalliance will ask for your zip code and then your name and address. Once you’ve input that information your name will be added to a pre-written letter to your Congressperson. It’s that simple!
Getty Images has been focusing on growing its subscription business
. The theory is that subscriptions will make customers more dependent on the company for their future needs. Currently, subscriptions represent 37% to 38% of Getty’s Creative Revenue and about 50% of Editorial Revenue.
Adobe Stock has announced a partnership with Pond5
, further expanding the video offerings in Adobe Stock. Sourced from an international community of artists across a mix of modern, highly sought after content themes
, such as lifestyle, recreation, sports, cinematic and aerial footage, the addition of the Pond5 video library will give video producers and designers access to one of the industry’s largest and fastest-growing collections – all natively integrated into Creative Cloud applications.
What can photographers and stock agencies do about pricing and the shift of revenues from photographers to a few huge platforms? Mike Watson says, “It’s unlikely that the major platforms will change their practices and the all-you-can-eat deals will continue. It’s time for photographers and independent agencies to unite and talk directly to their customers.” Read his whole blog post
on the robertharding blog.
From and investors point of view, Getty may have turned the corner. However, this may not benefit image creators, particularly those from North America and the Western Europe. It is my understanding that gross revenue in 2016 was about $840 million, up about 4% from around $808 million in 2015. Until 2016, Getty’s revenue declined steadily for about three years as they struggled to get their prices in line with their major competitor, Shutterstock.
Who is producing the majority of stock images that get used? Based on Shutterstock’s
2014 and 2015 financial reports about 37% of the company’s gross revenue came from North America, 35% from Europe and 28% from the rest of the world. Given these numbers it seems reasonable to assume that since North America and Western Europe seem to be where most stock images are used that is probably where most are produced. Back in the 90s and early 00s that may have been the case, but no longer.
Each year there are three important events where representatives of stock photo agencies get together to share information – CEPIC
and Visual Connections
. These events are also good places for photographers to meet stock agents and get a better understanding of industry trends.
Get ready for 15% royalties. Getty has contacted some European agencies that supply the company with Royalty Free images for its Creative collection and told them that when their current contracts expire they will be terminated unless they agree to accept a 15% royalty.
has filed a formal Proposal to Creditors under the Bankruptcy and Insolvency Act of Canada ("BIA"). This is not a bankruptcy. The Proposal process will provide Masterfile the opportunity to restructure its business with the objective of returning to profitability. This process is similar to a Chapter 11 filing in the USA.
According to Around The Lens
sources close to the New York Times have confirmed that the paper will begin paying freelance photographers a day rate of $450, more the double the $200 they’re currently paying. For shorter shoots, or those that don’t meet the full day-rate requirement, the rate will be $300, still more than the previous full day rate.