02.20Rumor: 2009 Overall Stock Photo Sales Down 40 Percent
So far 2009 Stock Photo sales figures are making many stock photo companies and stock photographers cry. Recently I had conversation with a well respected colleague of mine- a stock shooter and creator of his own stock photo brand. His sources had told him that overall stock photo sales had plunged by forty percent compared to last year. I’m assuming this is revenues, since microstock sites like iStockphoto continue to grow. His sales are so poor, he is finally thinking of getting into a completely different business.
A few minutes ago I received my January 2009 stock photo sales figures from Getty Images and they continue to be disappointing. In the beginning of 2008 sales had dropped from 2007 despite adding more images, however they were at least stable until November of 2008. From Nov. 08 – Jan. 09 my average stock photo royalties plunged by about half. Current market conditions makes it nearly impossible for me to make up for lost sales by churning out more images. Just so you know… I am not currently selling any stock photos as microstock, but I might as well, because I might be getting better returns.
My friend mentioned at the beginning of the article had an interesting thought about entering the microstock business. His claim was most of the money being made by those who are already established in microstock– meaning if your not doing it now it’s too late. We’ll look at this in another post.
In the mean time… I want to know how you are doing. Please post a comment about your experiences, or what you’ve been hearing. Personally I’m starting to focus on other aspects of my business including, high-end retouching/ illustration, design, and consulting. Of course I’m still taking Photo assignments too.
Philip Nealey is an Omaha Nebraska based Photographer, retoucher, Photoshop expert and graphic artist. He also publishes two blogs unsharpmasked.com a site about Photoshop, photography and photo industry news, and Art Buyers News, a news aggregating site that gathers news from around the net of interest to creative buyers.
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I think you right Philip, basicly. I am a German photographer doing assignments and stockphotography. Both is running very well. Stock revenues going down slightly. To keep your revenue level coming from stock images you have to increase the number of images in stock continuously. Obviously microstocks are one reason. But they reach new markets which were not there before, e.g. low level cheep website design for local clubs or similar. I am shure the stock market will devide in two parts in the future. Low level as mentioned and a high level quality market with best of high resolution images e.g. suitable for advertising and glossy magazines. So I believe chances will be there – but different from todays business.
Good luck
Uwe
February 22nd, 2009 at 4:56 am
Hi Philip,
I looked at your website and what I have to say is that you may need to work urgently on your style rather going to micro, follow the trends and evolve creatively. Micro is for amateurs and so called photographers that they look our images in Getty and other stock and try to imitate and sale it for peanuts.
I work with getty images and my sales went up lately, I only have right managed images.
Take care and don’t give up the fight
February 22nd, 2009 at 2:42 pm
I think your comments about sales reflect our own experience. I have been in the business since 1970 when I worked for Tony Stone when he was just starting. The situation now is just as about bad as it gets and I have been in a quite a few recessions in the past. However I retire early next year and can say the stock industry has been pretty good to me, but no way would I start again in this current climate.
Cheers,
Tony
February 23rd, 2009 at 5:17 am
Hello Philip,
I am with Getty, Corbis, et al. It’s so dismal that I cannot afford to go out and shoot unless it’s an assignment. I’m reinventing myself in so many ways it makes my head spin. I wish I were only down 40%. It’s more like 50 – 60% but won’t know exact figures until I get home and run some reports.
Regards, Michele
February 24th, 2009 at 9:52 am
it might feet the results from photoshelter survey
that say that 40% of image buyers will decrease their budget.
and it probably make sense keep an eye on how the content is being used around the web which you probably do though Getty by using http://www.picscout.com
February 24th, 2009 at 10:02 am
I would agree that the market is very tough right now. Sales for us have increased, but we are new so don’t really have a base. I think unique content is key, but we have also expanded into additional services.
Until advertising picks back up and photo buyers discover that unique content is better than the same shots you can find on all micro stock companies, the rights managed market will be depressed.
February 26th, 2009 at 11:03 pm
I am holding even at Getty, but putting up a lot more content…so my RPI, like everyone else, is dropping. I do get the sense that RM is faring better than RF. Recently I spoke with Yuri Arcurs, the number one Micro shooter in the world…and he says his return per image has started shrinking too. But not all is doom and gloom, the internet offers us direct sales possibilities that can, in time, make a huge difference by letting us keep the whole licensing fee. I have seen the future and it is the internet!
John lund
March 6th, 2009 at 10:01 am
I don’t know about macrostock. As far as microstock is concerned, lately sales are going down slightly but not as much. I think it’s due to an ever increasing number of submitters.
I don’t think it’s too late for newcomers: it’s only a bit more difficult since quality requirements are increasing but this shouldn’t be a problem for those coming from macrostock.
May 23rd, 2009 at 5:37 pm
+1
June 8th, 2009 at 10:06 am
I agree with Michele Westmoreland, i wish it was a 40% drop i’ve seen more in the range of 70% or even more. I’ve been with Getty for almost a decade and hesitate now to even look at my monthly statements. It’s almost impossible to justify the cost of shooting new work for the purpose of stock since there is little hope to even cover the cost of production. Very sad, not sure what else to say about it.
June 19th, 2009 at 4:02 pm
Things are about to change
July 19th, 2009 at 6:16 am
How are things about to change?
August 3rd, 2009 at 9:10 am