Web Video Continues Meteoric Rise, Affects Stock Licensing

Posted on 10/15/2007 by Julia Dudnik Stern | Printable Version | Comments (0)

There is widespread consensus that video, in all its forms, is becoming increasingly important in the visual-media landscape. The proliferation of video, particularly on the Internet, is evident in the success of ventures such as Google's YouTube, as well as the number of independent startups focusing on online video search.

Projections of future growth are staggering. For example, the Framingham, MA-based IT research firm IDC forecasts that in the U.S. alone, Internet video will be a $1.7 billion industry by 2010. Such meteoric growth has already affected the stock-licensing and photography industries.

The largest stock-image companies have all diversified into video-related service lines. Getty Images and Corbis license stock footage for high-end advertising and media uses; Jupitermedia also has a large investment in video-related trade events. Leading microstock businesses, including iStockphoto and Shutterstock, offer video clips at micro price points.

In an effort to capitalize on a growing media segment and offset cannibalization of existing business lines by new ones, traditionally stills-oriented businesses now compete with video-only establishments. The latter range from multinationals, such as U.K.'s BBC Motion Gallery, to the Los Angeles-based, privately owned Reelhouse, a royalty-free footage and video effects provider that offers "all you can download in a day" packages alongside single clips.

Today, photographers are often expected to possess video skills to secure assignments and jobs. Thus far, the trend has been most evident in photojournalism, where newspapers are rushing online to augment declining print readership. The requirement for photographers to be able to supply both stills and video for publication is so widespread that industry organizations, such as the U.K.'s National Council for the Training of Journalists, have begun to offer video training.

There is currently no empirical evidence that suggests that video has cannibalized revenues from licensing stills. However, footage licensing is booming in contrast to flat or declining still-image revenues reported by large and small agencies alike. Industry insiders often point to video as a viable alternative for stock photographers who have experienced a decline in revenues from selling traditional stock.

Copyright © 2007 Julia Dudnik Stern. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-461-7627, e-mail: wvz@fpcubgbf.pbz


Be the first to comment below.

Post Comment

Please log in or create an account to post comments.

Stay Connected

Sign up to receive email notification when new stories are posted.

Follow Us

Free Stuff

Stock Photo Pricing: The Future
In the last two years I have written a lot about stock photo pricing and its downward slide. If you have time over the holidays you may want to review some of these stories as you plan your strategy ...
Read More
Future Of Stock Photography
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 ...
Read More
Blockchain Stories
The opening session at this year’s CEPIC Congress in Berlin on May 30, 2018 is entitled “Can Blockchain be applied to the Photo Industry?” For those who would like to know more about the existing blo...
Read More
2017 Stories Worth Reviewing
The following are links to some 2017 and early 2018 stories that might be worth reviewing as we move into the new year.
Read More
Stories Related To Stock Photo Pricing
The following are links to stories that deal with stock photo pricing trends. Probably the biggest problem the industry has faced in recent years has been the steady decline in prices for the use of ...
Read More
Stock Photo Prices: The Future
This story is FREE. Feel free to pass it along to anyone interested in licensing their work as stock photography. On October 23rd at the DMLA 2017 Conference in New York there will be a panel discuss...
Read More
Important Stock Photo Industry Issues
Here are links to recent stories that deal with three major issues for the stock photo industry – Revenue Growth Potential, Setting Bottom Line On Pricing and Future Production Sources.
Read More
Recent Stories – Summer 2016
If you’ve been shooting all summer and haven’t had time to keep up with your reading here are links to a few stories you might want to check out as we move into the fall. To begin, be sure to complet...
Read More
Corbis Acquisition by VCG/Getty Images
This story provides links to several stories that relate to the Visual China Group (VCG) acquisition of Corbis and the role Getty Images has been assigned in the transfer of Corbis assets to the Gett...
Read More
Finding The Right Image
Many think search will be solved with better Metadata. While metadata is important, there are limits to how far it can take the customer toward finding the right piece of content. This story provides...
Read More

More from Free Stuff