Great news for those of you selling your photos and buying photos for your latest project. A new survey released by the International Communications Research (ICR) concluded that more than 40% of designers and creative professionals are using more stock photography and stock vector illustrations to lower their images costs in 2009 than compared to 2008. Is this shift in buyer’s behavior a response to the economic downturn?
The report highlighted that designers and creative professionals could save much more money and time when using stock photo agencies. Microstock photography agencies and royalty free photography agencies price their content cheaper than a traditional stock agency. Agencies have responded by creating more incentives and deals to attract picture buyers.
At Cutcaster users can set their prices or choose a pricing algorithm to find the correct market price. On the other hand buyers can purchase content at the price shown or if they have more time or have a smaller budget can bid on content and name their price. Contributors can negotiate pricing with a buyer and get important market pricing information
Key Survey Statistics Highlighted below:
• 40 percent of art directors or art buyers cite budget decreases compared to a year ago. Will image buyers be attracted to the bidding option and more advanced search features so they can decrease their costs and still get the best images.
• More than one in five art directors and graphic designers (22 percent) are working on more projects for less profit compared to a year ago. Can cheaper royalty free images help decrease their licensing costs and increase their bottom line?
• Two-thirds (67 percent) of graphic designers/art directors are doing more in-house production as a cost-saving measure. Other cost-saving measures include using online royalty-free stock photography agencies (51 percent) and using traditional stock photography agencies (18 percent).
• When asked what most influences their decision to use online royalty-free microstock photography, most respondents answered limited budget
Other top reasons included:
- To combine elements into a new design (41 percent)
- Using images for an indefinite period of time (40 percent)
- Using images in a combination of communications mediums (37 percent)