188 The Future of Microstock Photography
- Some microstocks will introduce premium product lines to attract and keep their
major photographers. These will price images at the bottom end of current traditional
royalty-free pricing, around $35–$50, maybe a bit more or less. - Several microstocks will also start selling images rights managed or on new hybrid
terms. iStockphoto has already experimented with this idea. - More information about image use will be provided to photographers. Fotolia already
has the basis for this; why not take it further? It must be attractive to photographers,
and it should be easy enough to build into the image-buying process. - Commission levels will rise a little further and then plateau.
- iStockphoto will increase its base commission level for nonexclusive photographers
from 20 to 25% as competition begins to bite. Exclusives will also get a rise, to a
maximum of 50%–60% commission at Diamond level. They will also introduce
image exclusivity, with an increased commission somewhere between full artist
exclusivity and standard. - Shutterstock will introduce a credit purchase system, moving to become a hybrid
like Dreamstime.
Not all of the above will happen, but I think some will. Some parts
of the above list are more of a wish list of what I hope will happen. I
have no inside information in making these predictions; they are the
product of my fertile imagination. We will see.
So, broadly, I think my photographer contributors have it about
right. The microstocks are not about to implode; they will continue to
grow and diversify and enhance the quality of their content by enforc-
ing stricter standards and to build new product lines. I think that an
increasing proportion of the royalty-free stock market will be taken
over by them, but there will always be a need for top-quality, rights-
managed stock photography; that higher-end market will perhaps
shrink but remain intact for the foreseeable future. This is a good
time for you to get involved and make money from microstock
photography.
As for me, I became fascinated by the microstocks in mid-2005,
about the time I realized that my small rights-managed library was
becoming uneconomic to run. Many of my contemporaries were hor-
rifi ed at that time by my intention to submit work to be sold “for a
few cents,” but I saw and realized the potential. I still have to admire
the foresight of anyone like the entrepreneurs who own and run the
microstocks. It is a simple marketing concept and, guess what, I think
I have the answer to “What does the future hold for microstock pho-
tography?” Simple sells, and, for me, that is the essence of the micro-
stock business model and why it works and will continue to do so
until someone thinks of something better.
Any ideas?