Stock photography

Stock photography consists of existing photographs that can be licensed for specific uses. Book publishers, specialty publishers, magazines, advertising agencies, filmmakers, web designers, graphic artists, interior decor firms, corporate creative groups, and other entities utilize stock photography to fulfill the needs of their creative assignments. By using stock photography instead of hiring a photographer to perform on location shooting, customers can save valuable time and stay on budget. With a wealth of images, stock photography databases that may be searched online save photo researchers valuable time when they are looking for just the right image. With today's digital delivery methods, images may be purchased online and delivered via email or downloaded right away.

Stock photography is sometimes called a photo archive, or just stock photos. The term photo archive often refers to the website or physical location where the photographs are stored. Photo archives are also sometimes called image banks. As modern stock photography distributors often carry stills, video, and illustrations, none of the existing terminology provides a perfect match for the state of the industry.

Industry structure

Images are filed at an agency that negotiates licensing fees on the photographer's behalf in exchange for a percentage, or in some cases owns the images outright. This is increasingly done online, especially with the newer micro-stock models.

Pricing is determined by size of audience or readership, how long the image is to be used, country or region where the images will be used and whether royalties are due to the image creator or owner. Often, an image can be licensed for less than $200, or in the case of the microstock photography websites as little as $1. The client may, however, request "exclusive" rights, preventing other customers from using the same image for a specified length of time or in the same industry. Such sales can command many thousands of dollars, both because they tend to be high-exposure and because the agency is gambling that the image would not have made more money had it remained in circulation.

With rights managed stock photography an individual licensing agreement is negotiated for each use. Royalty free stock photography offers a photo buyer the ability to use an image in an unlimited number of ways for a single license fee. However with royalty free licensing there is no option for getting exclusive usage rights.

Some stock photography sites offer low-resolution photography free for the purpose of preparing advertising comps to demonstrate a design. If the advertiser decides to use the image, the rights to use the high-resolution image then can be negotiated.

Professional stock photographers place their images with one or more stock agencies on a contractual basis, with a defined commission basis and for a specified contract term. Some photographers fund their own photo shoots, or develop imagery in cooperation with an agency, while others submit photographs originally produced as part of editorial (magazine) or commercial assignments.

Overview

Royalty-free (a confusing term, this does not mean the image is "free")

# Pay a one-time fee to use the image multiple times for multiple purposes (with limits).# No time limit on when you can use an image.# No one can have exclusive rights of a Royalty-free image (the photographer can sell the image as many times as he wants).# A Royalty-free image usually has a limit to how many times you can reproduce it. For example, a license might allow you to print 500,000 brochures with the purchased image. The amount of copies made is called the print run. Above that print run you are required to pay a fee per brochure, usually 1 to 3 cents. Magazines with a large print run cannot use a standard Royalty-free license and therefore they either purchase images with a Rights-managed license or have in-house photographers.

Rights-managed (sometimes called "licensed images")

# Pay each time you use the image.# There is a time limit on how long a buyer has exclusive use of an image (usually one year). This allows the photographer to sell exclusive rights to the image again when the first buyer's time limit is up.# You must choose a Rights-managed license if you want exclusive use of an image. The photographer would not be allowed to sell the image to anyone else if exclusivity is part of the license. Not all Rights-managed licenses are exclusive, that must be stipulated in the agreement.# Fee is based on such things as exclusivity, distribution, length of time used, geographic location of use.# A Rights-managed image usually allows a much larger print run per image than a Royalty-free license.# Editorial is a form of rights-managed license when there are no releases for the subjects. Since there are no releases the images cannot be used for advertising or to depict controversial subjects, only for news or educational purposes.

History

One of the first major stock photography agencies was the one founded in 1920 by H. Armstrong Roberts, which continues today under the name RobertStock.

For many years, stock photography consisted largely of outtakes ("seconds") from commercial magazine assignments. By the 1980s, it had become a specialty in its own right, with photographers creating new material for the express purpose of submitting it to a stock house. Agencies attempted to become more sophisticated about following and anticipating the needs of advertisers and communicating these needs to photographers. Photographs were composed with more of an eye for how they might look when combined with other elements; for example, a photo might be shot vertically with space at the top and down the left side, with the conscious intention that it might be licensed for use as a magazine cover. Leading agencies during this time included The Image Bank, SuperStock, Comstock Images, FPG, Index Stock Imagery, and Masterfile.

In the 1990s, a period of consolidation followed, with Getty Images and Corbis becoming the two largest companies as a result of acquisitions. Today, stock photography companies have largely moved online. In the early 2000s, JupiterMedia Corporation has started buying some of the smaller players in the market, aggregating them under the banner of their JupiterImages division, and became the third largest player in the market. The availability of the internet provided a means for other, smaller companies to get foothold in the industry. One such company is Alamy who has since become a significant competitor in the market with over 4 million pictures in its gallery.

In the 2000s the microstock photography industry, led by iStockPhoto and later ShutterStock and Dreamstime, emerged as a rapidly growing market. Using the Internet as their sole distribution method, and recruiting mainly amateur and hobbyist photographers from around the globe, these companies are able to offer stock libraries of good quality for very low prices.

There are also a number of completely free stock photography sites, where no payment is required whatsoever, for example FreeDigitalPhotos.net and FreeFoto.com.

See also

*List of Stock Photography Archives
*:Category:Stock photographers
*Microstock photography

External links

Industry News
*About the Image
*pdnewswire Photo District News
*Stock Photo Talk Andy Goetze's weblog
*StockPhotographer.info

;Stock Agency Associations
*British Association of Picture Libraries and Agencies Trade association for stock agencies in UK.
*Coordination Of European Picture Agencies Trade association for stock agencies in Europe.
*Picture Archive Council of America Trade association for stock agencies in US.

;Stock Photographer's Associations
*Stock Artists Alliance worldwide photographers' trade organization
*Stockphoto.net list of international and local stock photography associations

;Licensing systems
*Picture Licensing Universal System

;Forums (open)
*Photo News Network Pro Discussion Forum
*ASMP pro Advice advice for students from pros at the American Society of Media Photographers Yahoo! forum, 1003 members
*Photo Business at Photo District News
*StockPhotographer.info
*Alamy Contributors Yahoo! forum, 959 members
*The Kracker Barrel for editorial stock photographers
*Selling Stock Photography Yahoo! forum, 221 members

(for Microstock forums see: Microstock photography)

;Forums (restricted membership)
*Editorial Photographers
*Stock Artists Alliance Yahoo! forum
*Alamy Pro Yahoo! forum
*Women in Stock Yahoo! forum