Image banks

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An important feature of web-based stock photography collections is that the images have been embedded withmeta-data, therefore making the images searchable by using keywords.

MICROSTOCK PHOTOGRAPHY

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What defines a company as a microstock photography company is that they (1) source their images almostexclusively via the Internet, (2) do so from a wider range of photographers than the traditional stock agencies(including a willingness to accept images from "amateurs" and hobbyists), and (3) sell their images at a very low rate(anywhere from $.20 - $10) for a royalty-free (RF) image.

History

The pioneer of microstock photography is bruce Livingstone ( Istockphoto)

After a few years of initial growth microstock industry stepped into phase of mergers and acquisitions.

Microstock industry isn't mature yet and continues to change.

Practices & controversy

Each microstock agency uses a different pricing and payment scheme.

There is no fee to post photos on a microstock agency website.

microstock agencies do not accept all
submitters or all photographs

The mindset of microstock supporters is that quality will prevail

some photographers believe that they will end
up earning as much income from many small sales as they would from a few large sales on a traditional stock
photography site.

STOCK PHOTOGRAPHY

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Is the supply of photographs licensed for specific uses . It is used to fulfill the needs of creative assignments instead of hiring photographer.

Industry structure

GETTY & CORBY

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These two companies are the most important and powerful agencies in the stock photography.

Average process for a photograph

1. Images are filed at an agency that negotiates licensing fees on the photographer's behalf in exchange for a
percentage

2.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

The type of license

3. The photograph is published in the web

Licenses

Royalty-free

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"Free" in this context means "free of royalties (paying each time you use an image)". It does not mean the image isfree to use without purchasing a license or that the image is in the public domain.

- Pay a one-time fee to use the image multiple times for multiple purposes (with limits)

- No time limit on when the buyer 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 or she wants).

- A Royalty-free image usually has a limit to how many times the buyer can reproduce it.

Right managed

The value of a license is determined by the use of the image, which is generally broken down along these lines

Usage

Specific Use:

Specific Use:

Print Run

Size

The terms of the license are clearly defined and negotiated so that the purchaser receives maximum value

A Rights-managed image usually allows a much larger print run per image than a Royalty-free license

History

Origin

Written press was the first one to use phothos instead of drawings

20's

RobertStock, the first major stock photography agencies, was founded

80's

Stock photography had become a specialty in its own right, with photographers creating new material for
the express purpose of submitting it to a stock house

90's

Period of consolidation: Getty Images and Corbis becoming the two largest companies.