According to The British Journal of Photography, Getty introduced a new low pricing model targeting online blogs and websites. The new prices are $5 for 170 pixel and $15 for 280 pixel wide images. At the same time, the old smallest file size 430 pixel wide images have their price lowered from $49 to $35.
Getty introduced the new business model to specifically address the needs of websites and blogs who cannot afford the traditional stock photo pricing, the growing concerns with piracy, and to compete in the market currently dominated by microstock companies.
Alamy, another well known stock agency based in UK, is also considering similar offering. The comments by Simon Cliffe, the executive director of The British Association of Picture Libraries and Agencies (BAPLA), shined some lights on the reasons behind the coming changes.
‘It seems like the World Wide Web has been around for decades, but it hasn’t and our industry has changed dramatically in just a few short years. Standing still and doing nothing drastically reduces the life of our industry and the photographers we support……’
‘…… The internet is here; it’s changed the traditional business model; it’s changed customer expectations; with the recession, it’s helped change ‘traditional’ spending. But if as an industry we can exploit it properly, there’s no reason why we can’t find millions of potential new image buyers – that’s certainly something BAPLA is working towards.
In the real world, the result of the debate seems apparent. It is interesting to see how long the stock agencies can hold on to their old business models.
Keywords: Alamy, Getty, Microstock, Stock, Stock Photo