The Orphan Works bill (the Copyright Modernization Act of 2006, HR 6052) has been withdrawn from committee for this year but there is a great likelihood that something similar will be introduced in the new Congress beginning next year.
Roger Ressmeyer tells of a usage currently in negotiation for one image where the starting price is $4 Million and why that price is justified. He also offers suggestions as to what photographers and agents need to do in general to push prices up.
This edition has short items on: What Are Photographs Worth?; Some Thoughts About Microstock; GDUSA Survey; Other Micropayment News; Magazine Closing and Getty Images Adds AP Video.
Pino Granata of Granataimages in Italy, has circulated a letter to agency owners in Europe and the U.S. lamenting the trends the stock photo business has taken and questioning the future potential. I agree with his concerns and have responded to many of the points he makes in his letter.
Recently a reader pointed out, "In the past you've been negative on the potential for stock photo industry growth in terms of pricing and volumes. Currently, are you seeing any likelihood of improvement in these areas?" This story outlines why I see little to no chance for improvement in the short or long term.
This is a brief history of stock photography examining how it started and how it got to where it is today. I have tried to chronicle the key events and changes that have taken place in the last 80 years, in hopes that understanding the past will enable us to avoid repeating some of the same mistakes in the future.
This issue contains the following stories: Micro Payment; Who Uses iStockphoto?; $.25 Per Download Adds Up????; Getty Has Record Revenue Q2 2006; Where Does Riser Fit?; Alamy Reports Record Growth In Supply; Footage Market; More On Footage; Online Ad Spending Up
Corbis has reported its revenue numbers for the first half of 2006 and CEO Steve Davis told Wall Street analysts that we have "just had the best two quarters in history." The company generated approximately $127 million up from $111.6 million in the first half of 2005. Projecting first-half revenue forward for the full year Corbis should gross in excess of $254 million for 2006, up from $228 million in 2005.