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Key words in this issue: Wasting Time | Marketing Techniques | Photoshop CS | Credit Line | Seasoned Pros | Loss | Photo Search
NEWSWORDS: NAPA VALLEY | SLIDES | ECONOMY | GROWTH | KENNEDY | EQUINE | PERSONALITIES | UR RARE DOCUMENTS | DESIGNS | NEVADA | AFRICA | PHOTOJOURNALISM | FASHION
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## PhotoAimLite monthly newsletter for April ## 403
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PhotoAimLite, the monthly newsletter from PhotoSource
International. <http://www.photosource.com> ==>
ISSN 1530-0511
If you no longer wish to receive PhotoAimLite, see the instructions at the end of this newsletter.
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The Getty Images Money Machine
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The popular daily newspaper, USA Today, recently published a copyrighted article (by Byron Acohido) about the top stock photography agency in the world, Getty Images. Although the article focused on tracing Getty's successful rise to the top of the industry, it revealed some interesting numbers. Especially if you are considering working for the company as a freelancer.
First of all, let me reiterate my personal philosophy that I believe good stock photography is the result of a photographer's (amateur or pro) abiding interest in specific subject areas. For example, wildlife, medicine, education, children, aviation, sports, and so on. The resulting photographs have the opportunity to be both art and documentary. Eventually they may have historical significance and grow as an asset for a photographer's heirs. In the meantime, if the photographer finds matching markets for his or her interest areas, profits can be made.
If this is your worldview also, then you'll want to turn and run if a Getty recruiter asks you to be part of their freelancer team. Here's why.
I don't pretend to be an economics wizard, but in Pilgrim's Pride Elementary School, I was pretty good at arithmetic. I think you'll agree with me that the numbers presented in the USA Today article do not look pretty for freelancers.
They spin out like this.
The 2003 Getty Images gross revenue was $523.2 million, with net income of $64 million. (88% operating costs; 12% net profit). The author is quoted as saying 83% of Getty Images sales comes from freelancers. That's $434,256 ,000 in freelancer photos. Getty gives 40% of that to the freelancers. That's $173,702,400 .
Getty has 2,500 freelancers (contributors), according to the author. That's $69,480.96 annually to a freelancer, or $190.36 per day (365/yr.).
Running a stock photo business can get to be a marathon, and get to be expensive. Using Getty Image's own costs/net income ratio (88/12), that would reduce a freelancer's $69,480.96 gross down to $8,337.72 net annually, or $22.84 per day. But since freelancers are known to be frugal, and government RMA annual statement studies show entrepreneurs to be Spartan, let's lower the cost percentage (to 76%), and double the net income figure to 24% and make it $45.68 per day, ($5.75 per hour for an 8-hour day).
PRODUCING THE COMMODITY
To produce images, most of your costs are going to be eaten up in camera equipment, travel costs, insurance, lodging and meals.
Want to read more of this article? Go to: http://www.photoaim.com/gen484.html
Fifteen Minutes A Day
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Do you enjoy making money? If you answer no to that question then the rest of this article would be a waste of your time. If your answer is yes, then consider this:
Time, to the creative person, is more important than money. It's something money can't buy -- so if you've been squandering your time, you've been tossing away your potential profits, much like the lemonade stand proprietor who, without disciplining himself, drinks his profits.
Creative people are famous for wasting time by spending it trying to make money to support their creative habit. They spend time moonlighting at a fast-food restaurant or a construction job to gain the money to buy tripods, cameras, disks, lenses. Because they take time away from their picture taking and picture marketing, they find themselves going financially and professionally backwards.
Others squander their time on activities that have little to do with their mission of marketing their pictures. If you are a home gardener, did you ever figure out how much time you spend in your garden? One hour a day for 6 months is 180 hours. What kind of solid Market List could you build if you devoted 180 hours to your Market List this spring and summer? Once you discover which editors are out there with $10,000-a-month photography budgets waiting for your specialized photographs, those golden home-grown carrots won't be so liable to distract you from operating your own real gold-making machinery.
Want to read more of this article? Go to: http://www.photoaim.com/gen496.html
Finding The Specific Photo.
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Keeping aware of buyer behavior should be your first concern if you are in the business of selling your photos. Last-century marketing techniques are being phased out as photobuyers are learning to use the new electronic tools available to them, leading to new directions in photo acquisition and delivery.
The needs of your photobuyers are influenced by their awareness that they now have the technology to locate highly specific pictures. In the last century, photo researchers were excused for not locating a photo that fit all the ideal specifics. Everything was done by hand, with paper, film, and file folders. Photo search was cumbersome and slow. Everyone was under the same constraints. There wasn't enough time or they couldn't locate further resources. When they couldn't locate a specific image they figured they had "done their best," and the "second-best" or even "fifth-best" photo alternative was accepted.
Photography used in publications of the past reflect these inadequacies. Photo illustrations frequently resorted to generic images, in content and style. Today, in contrast, the advantages of our technological revolution make it possible to easily locate very specific and even obscure photos. We notice the increasing use of content-specific images in documentary films, coffee table photo books, biographies, textbooks, encyclopedias, you name it. Make sure your stock business responds to what's happening in the field, in the new century. --RE
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BREAKING INTO STOCK PHOTOGRAPHY.
May 15-16, 2004. A weekend workshop with Brian Yarvin and Mike Karlsson. Every person who joins them for this stock photography workshop will get at least six hours of classroom time and personal evaluations from Mike and Brian. If you're there, you'll leave with a solid business plan for your stock photography operation and a clear direction. For a long time now, Brian had been hoping to create a workshop where experienced stock photographers can sit down with beginners and help them work through the myths and get their businesses up and running. Thanks to the help of PhotoSource International and The Washington School of Photography, this workshop will become reality. Tuition: $235. Contact: The Washington School of Photography, 4850 Rugby Avenue, Bethesda, MD 20814. Phone: 1 301 654-1998. Fax: 1 301 654-8228. E-mail: wspinfo@aol.com Website: http://www.wsphoto.com/subjspecialties.htm#Stock
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The Power of Fiduciary Funds in Bankruptcy Proceedings
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by Joel Hecker, Esq
As you probably know, when a company files for bankruptcy, attempts to collect outstanding amounts must be handled through the Bankruptcy Court. Any other collection efforts, including separate litigation, must cease (or technically be "stayed") pending the outcome of the bankruptcy proceeding. If you are an unsecured creditor you will usually receive far less than your claim, if you receive anything at all, and it may take years before any money is paid.
Photographers often bill intermediaries instead of clients directly. Such intermediaries could be advertising agencies, production companies, or even representatives or agents of the photographer. On occasion the client will have paid the intermediary who then files for bankruptcy, leaving the photographer without payment and often without recourse.
I have been successful in obtaining payment of funds due in these situations by insisting, when the contract is made, that all funds due to the photographer (less any commissions or other monies that would be paid to the intermediary) were never meant to belong to the intermediary and are thus to be treated as fiduciary funds, obtained solely on behalf of the photographer.
The theory behind this is that these funds do not belong, and never belonged, to the bankruptcy estate and therefore are not subject to the normal rules regarding creditors and debtors. You, of course, may have difficulty convincing the intermediary that the funds should be held in a fiduciary capacity. In that event, your paperwork should include words to such effect even if it does not actually appear in the agreement itself. Given the potential likelihood of a pending bankruptcy in any given situation and the dire consequences resulting from it, it is certainly worth the attempt to protect yourself in this regard.
Attorney Joel L. Hecker lectures and writes extensively on issues of concern to the photography industry. His office is located at Russo & Burke, 600 Third Ave, New York NY 10016. Phone: 1 212 557-9600. E-mail: Heckeresq@aol.com.
Who is the customer? Who is the competition?
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Lemonade is an excellent product. It always sells well, doesn't it? No, it doesn't, if it is not marketed well. The best lemonade in the world will not sell well in a sparsely settled village in Alaska in January. A mediocore lemonade will sell briskly in Texas in July. "Selling" is what happens after you "market" your product wisely--whether it be lemonade or photographs. Many businesses, even large corporations, make the mistake of believing their "marketing" department is their "sales" department. All too often, if their product is not selling well, they blame it on the product, not on their failure to study who or what the competition is, and who the customer is.
A photobuyer for an aviation magazine will welcome your submission of airplane-oriented pictures. But the same editor will be aggravated if you also include your best scenics and seascapes. Editors do not appreciate your "photographic fishing expeditions"-- the photos you send "just in case" the editor will like them. Know who your customer is, and submit pictures that the customer needs.
COMPETITON
What's your competition? If you attempt to sell your lemonade in Texas, in July, on a street where 14 other lemonade stands are located, your sales potential is diminished. Should you go to another street? Probably not. You might find 14 more on that street. Lemonade is in great demand, hence the great supply. It would be better to regroup, examine the market for thirst quenchers and offer something unique to your thirsty customers--something for which only you have the recipe.
Want to read more of this article? Go to: http://www.photoaim.com/cb32.html
The Memory Card
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by David Arnold & Gail Rutman
Photoshop CS: Essential Enhancements for Photographers
Although traditionally Photoshop has been more a tool for graphics artists than photographers, Adobe clearly had photographers in mind in its latest version. In this column we'll look at Photoshop CS's half-dozen most useful new or improved photo imaging and managing features.
1. Improved file browser. Adobe quite accurately calls it "your digital imaging hub." Unlike Photoshop 7's file browser, in Photoshop CS you can arrange images by simply dragging them, just like on the "real" lightbox the browser simulates. But, unlike a physical lightbox, Photoshop's virtual one also automates entry of copyright notices, captions, and keywords, and lets you search for images by keyword, date, etc.
2. Integrated raw file support. For digital shooters the most exciting feature is the integration of Adobe Camera Raw, previously a $99 add-on. (After installing CS, download the improved Camera Raw 2.01 update, released in mid-February, from Adobe's site.) Unconverted raw files show up in the file browser the same way tiffs and jpgs do. Double-click a raw thumbnail and you have sliders to adjust color temperature, tint, saturation, sharpness, noise reduction, and more. To apply the same adjustments to several images just Ctrl-Click (PC) or Command-Click (Mac) on all of them, set the sliders, and click OK.
3. Comprehensive 16-bit support. Whenever you manipulate your picture's pixels some of them get thrown away, decreasing image quality. But if you shoot Raw rather than jpgs, or scan at 12, 14, or 16 bits, edit in 16-bit mode so you have lots of extra pixels. Then you can tweak away and still maintain quality. Only a few of Photoshop 7's functions worked in 16-bit mode; with Photoshop CS almost all do.
Want to read more of this article? Go to: http://www.photoaim.com/mcard2.html
Getting A Credit Line
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Note: Need the answer to a stock photography question? At our Web site (www.photosource.com/board) you'll find our Bulletin Board, called "The Cracker Barrel." Check it out. Our staff answers marketing questions; fellow photographers offer their input and experience. The following is a typical exchange:
Q: I am just about to make my very first sale!! The photo editor has asked what credit line I would like to appear in the credit listing; she has suggested "courtesy of ............." to me this sounds like I have given them the image. Any suggestions as to what credit listings are normally used??
Thanks,
Barb
A: It's nice that the editor asked. Usually they don't. About 20% of the time you'll get a credit line. "The courtesy of...' is usually reserved for large publications or very small ones. If you have a choice, ask the editor to say: "Copyright: Your Name." Another way: "Credit: Your Name." Thanks to the Berne convention (1989) -it's not required to use the word "Copyright," nor your name, to protect your copyright ownership of the photo. However, it looks official, so use it any time you can. And of course, your name next to the photo is good publicity. -RE
Headfirst Into Digital : Part Two
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by Jeremy Hoare, Travel Photography
Following on with reporting on my digital experience with a Fuji FinePix S2 Pro, I have found that the main problem seems to be battery life. I am using rechargeables but they seem to run down too quickly, although this is probably because I keep looking through the images just shot on the camera's screen. This must use up a lot of power and I will learn to use this important potential more effectively.
Another problem to overcome is the storage of images on the computer once they are downloaded. Because I am using almost the largest file size possible to take the images, 4.7MB JPEGs, once converted to TIFFs they end up as 34.7MB each. Then it is just two up scales in Photoshop to get them to 51.5MB which will deliver an A3+ size print. As I have used this size for all my exhibitions it has become the yardstick for my own work.
One key factor in my buying the camera was the fact that it is 6 million pixels, and because the pixels are hexagonal there are additional mini interspersed pixels so that it is effectively 12 million. This year should see the 3 and 5 million standards of compact digital cameras go up. I would expect that by Christmas, 6 million will become the new standard. Any cameras that only have 3 million just will not blow up to an A4 double page spread, so be careful and buy the maximum number of pixels you can afford.
I took the 52 Pro on a recent short trip to France and was pleased with the results. The low available light in churches was no problem and I found that I did not need to bracket nearly so much as I would have done using film. Had even less light in champagne caves, but with a few adjustments in Photoshop the pictures are far better than I could have expected. In all I took around 380 frames; about 10% were deleted after viewing, and the remainder reflect the usual varying quality.
So far, in a couple of months I've taken around 1,300 pictures, the equivalent to about 36 films, a good financial saving. But, keeping the best till last, one of my Piccadilly night shots of a fire engine at speed sold on the Alamy online photo library website just 17 days after getting the camera out of the box!
Happy Shooting!
Jeremy Hoare is a freelance travel photographer residing in London, England. Phone/Fax: +44 20 7722 2065. E-mail: jeremyhoare@hotmail.com. <Web: www.travelwriters.com/jeremyhoare>.
Travel photographers will find profitable information in the newsletter, TravelWriter Marketletter, published by Mimi Backhauser. For info: mimi@travelwriterml.com . Ask for a sample to be sent to you.
Don't Listen to the Seasoned Pros
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In grandfather's day, it was customary to pay attention to the wisdom of the older voice of experience. Grandfather (and grandmother) passed down the wisdom of the ages. When it comes to ethical and moral thinking, that's pretty much true today, yes. But when it comes to business practices, including photography business practices, such as distribution, production, delivery, research, and development, grandpa is usually clueless.
Too often, I hear photographers say, "So and so, who has been in photography 30 years, told me that..."
And too often, so-and-so's advice was not on-target. Why?
Because photo distribution, storage, and the actual production of stock photography has dramatically changed in the last four or five years. If a veteran photographer is giving you advice, and still using a film-based system, you can be sure he or she is advising you from a limited and a prejudiced position. Photographers are like most of us, -they don't like change.
It's not only photography that has changed, but most disciplines. Physicians, Attorneys, Mechanics, Engineers, the Military. To get advice, for example, from a retired physician, soldier, automotive repairman, today, who has not continued his or her education on an ongoing basis, would not be wise. In stock photography, it might even be dangerous to your financial health.
This sounds like an indictment of senior citizens. It's not. It's aimed at the myths that many older veteran photographers, albeit with all good intentions, pass on to those just starting out. My point is to watch out for faulty consulting. What worked in the last two or three decades regards business practice in stock photography, frequently doesn't work at all today.
Want to read more of this article? Go to: http://www.photoaim.com/gen653.html
PICTURE LOSS AT AN AGENCY
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Note: Need the answer to a stock photography question? At our Web site (www.photosource.com/board) you'll find our Bulletin Board, called "The Cracker Barrel." Check it out. Our staff answers marketing questions; fellow photographers offer their input and experience. The following is a typical exchange:
Q: I've been considering putting my pictures in a stock photo agency. What if the stock agency building burns down? Do I get compensated for the loss of my 500 or so photos?
A: A stock agency contract always has a 'limitation of liability clause'. They use a clause similar to the model form for a photographer agreement that PACA (Picture Archive Council of America) (www.pacaoffice.org) recommends. It goes something like this:
"Agency shall provide a suitable environment for long-term storage, care, and retrieval of photographer's images and shall strive to protect and care for the images that are on file with Agency. However, if there is any damage, theft, or loss of your images, Agency shall not be liable unless such damage, theft, or loss was a result of Agency's willful or gross negligence. Photographer agrees that except for a case of negligence, Agency's total liability shall not exceed one hundred ($100.00) dollars."
Want to read more of this article? Go to: http://www.photoaim.com/gen650.html
BUSINESS NOTEPAD
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"CATALOG-QUALITY IMAGES" is the accepted phrase used by commercial stock photography agencies that any want your photos for inclusion in their display catalogs--both on-line and print versions. The term implies that rejected images are inferior. Our position at PhotoSource International has always been the opposite. Like commercial music, tunes that are chosen for commercial use aren't necessarily those that have long-term value. Nor do they necessarily become classics. Contrived, commercially-produced editorial photos and their trendy counterparts are usually short-lived. They quickly become dated. A review of photo catalogs of ten years ago will reveal this short-lived nature of commercial photography. We rarely see a commercial photo that was produced in the last century up for auction at Sotheby's.
If you aim to capture your interpretation of the world around you within the scope of your photographic specialty area, and want to communicate how it relates to the rest of us, you will produce editorial photos that ring true. They'll have lasting value that is both marketable and eventually can become of historical significance. Even though those pictures might not be chosen for a commercial agency catalog.
Want to read more of this article? Go to: http://www.photoaim.com/ntpd460.html
GOODSTUFF
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NATIONAL GEOGRAPHIC CONCISE ATLAS OF THE WORLD. Filled with maps, charts, graphs, flags, and illustrations, this informative, easy-to-use reference provides a complete portrait of world geography today. Carefully compiled and with the latest geo-research presented clearly, this atlas provides a better understanding of the people and places of our planet. (ISBN: 0-7922-6187-9; $24). Contact: National Geographic Books, 1145 17th St NW, Washington, DC 20036-4688. http://www.photosourcefolio.com/bookstoreone.htm#0792261879 .
ANSEL ADAMS: AN AUTOBIOGRAPHY, by Ansel Adams, with Mary Street Alinder. Little, Brown & Co., 6th printing 1995, $65, ISBN # 0-8212-1596-5, Copyright 1985. ISBN #, 400 pages, 277 photos. Written just before his death in 1984, this stunning coffee-table-sized volume is an autobiographical journey into the people, places, and periods that shaped Ansel Adams' creative spirit and influential career. You'll learn how his early education, associations with other great artists, love of outdoors and the High Sierras, historical events, and more, influenced his development. More than a simple chronology of facts, Adams brought to textual print the same poetic insights he gave to photographic print. There's also a $14 paperback version, but with only 16 photos. And Ansel Adams without his photos is like Pablo Picasso without his paintings - soul-less. -David Arnold & Gail Rutman
http://www.photosourcefolio.com/bookstoreone.htm#0821215965 .
PHOTOJOURNALISM, An Essential Guide, by David Herrod. The photographer presents an inspiring collection of some of his finest pictures, and shares his technical and aesthetic methods and approaches. Every black-and-white picture in the book is testament to the unique ability of Herrod to capture the moment with clarity and emotion. (ISBN: 1-86108-335-1; $24.95; 180 pages) Contact: Sterling Publishing Co., Inc. 387 Park Ave S, New York NY 10016-8810. Phone: 1 800 805-5489. http://www.photosourcefolio.com/bookstoreone.htm#1861083351 .
ASMP Professional Business Practices in Photography, 6th Edition, Allworth Press, 2001, ISBN # 1-58115-197-7, $29.99, 419 pages. In just over 400 pages, The American Society of Media Photographers presents a comprehensive course on how to operate a photography business, written in a digestible journalistic style. A valuable resource for both assignment and stock photographers, the book covers everything from initial setup, record keeping, and marketing, to pricing, negotiating, and finalizing agreements. Included are sample forms and contracts. Though its section on digital photography is weak due to rapid advancements in the field since the book was published, the remainder is well worth the investment. -David Arnold & Gail Rutman http://www.photosourcefolio.com/bookstoreone.htm#1581151977
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Your photograph on a post card will be viewed by hundreds. There's no envelope to open. If you're planning your own target market mailing, call MWM DEXTER at 1 800 641 3398 for free sample postcards of many sizes.
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This week's featured photographer on PhotoSourceFolio: Bud Huntington:
(http://www.photosourcefolio.com)
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Watch for developments in the field of stock photography in PhotoAimLite's
PHOTOGRAPHY IN THE NEWS
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You'll be the first to know...
Note: If the URL is long, it may extend to two lines. In that case - clicking on it won't work. Instead, "copy and paste" the URL.
Winemakers Get Juiced About Tech - "It's pretty sophisticated farming," says
Bruce Cakebread, of Cakebread Cellars in the NAPA VALLEY. His tools include
digital cameras and airborne photographers take images of the vineyards at
different times of the year, to compared and assess the health of the vines
and decide when to harvest.
http://www.wired.com/news/technology/0,1282,63047,00.html
Scanners recapture forgotten SLIDES.
http://www.globeandmail.com/servlet/story/RTGAM.20040414.gtscan0414/BNStory/
TechReviews/?query=photography
The Art of Business: Welcome to the Concierge Economy - Marketing based on
price and promotion is so old school. For your business to be successful in
the future, according to Elliott Ettenberg, author of "The Next ECONOMY ,"
you will have to master the four R's - relationships, retrenchment,
relevancy, and rewards.
http://www.creativepro.com/story/feature/21170.html
Why Photography Has Supersized Itself - Mr. Fraenkel attributes the GROWTH
in the size of photographs to, among other things, "a long-standing feeling
in the art world that photography was, perhaps, a second-class citizen."
"Once it became possible to make authoritative large-scale prints,
photographers could challenge the other arts.
http://www.nytimes.com/2004/04/18/arts/design/18GEFT.html?ex=1082952000&en=a
ce7dd5472c7ea74&ei=5006&partner=ALTAVISTA1
Chronicle staff members win 13 journalism awards - Staff photographer Brant
Ward won the prestigious Robert F. KENNEDY Journalism prize for his images
of San Francisco's homeless crisis.
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2004/04/18/MNGOS672NV1.D
TL
Photographer Leonard to receive lifetime achievement award - Renowned EQUINE
photographer Tony Leonard, whose photos of the world's top Thoroughbreds
have been published in Throughbred Times for a number of years, has been
bestowed the International Photographic Council's lifetime achievement
award.
http://www.thoroughbredtimes.com/todaysnews/newsview.asp?recno=44178&subsec=
1
On photography and BARNS - Photography has recently enjoyed a huge
resurgence in interest, not just from gallery audiences, but also auction
houses. The 2002 sale of Tracey Moffatt's Something more series for $223 250
made many people question the notion of photography. How could a medium
whose unique value lies in its repetitious nature be worth so much?
http://www.abc.net.au/goldcoast/stories/s1087682.htm
Want to read more "Photography in the News"? Go to: http://www.photoaim.com/pitn.html
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Next Month: Association help for stock photographers.