Stock photography comes in all different shapes and sizes, but first, let’s define stock. Stock photos are licensed images designed for specific use. They come from either macro stock agencies or micro stock agencies. They’re either rights-managed or royalty-free. They have their pros and cons.
When it comes to stock photos, as a business professional, you need to know the difference between a macro stock agency and micro stock agency.
A macro stock agency deals in images that are often styled down and natural looking. The subject matter usually has a distinct cultural style and feel. Macro stock deals in niche and newsworthy images. These images are created by professional photographers. Macro stock agencies include Getty and Corbis. Pricing ranges from hundreds to thousands of dollars for use.
A micro stock agency produces a wide range of images sourced exclusively through the internet. A wide range of photographers shoot micro stock images, including amateurs and hobbyists. Micro stock often sells at low rates. Micro stock agencies include I-Stock, Shutterstock and Dreamstime. Pricing can range from $1 on up, depending on the image, the agency and the use of the image.
Now, let’s take at look at the difference between rights-managed and royalty-free stock.
Rights-managed stock is purchased per use incorporating such factors as duration of use (1 month, 2 years, ect), print runs (the number of times the image can be printed), size (billboard vs report) and use location (territories where the image may be used) being factored into the licensing agreement. These images are licensed to not be used by another company in a conflicting manner.
Royalty-free stock is a one-time purchase that allows multiple uses of the image (though print runs are limited). The buyer can use the image at any time and the photographer can sell the image as often as he likes to a variety of buyers. Sometimes royalty-free stock is free, but often, this free stock requires a link back to the photographer’s website or a credit to the photographer. Free stock often limits the user to a low resolution photo (not practical for print use).
There are times when stock photography is more beneficial than hiring a photographer and there are times when it’s not beneficial and a photographer should be hired.
I recently conferred with a client looking for images for their website. The images they were seeking were pretty general and could easily be found through a stock agency. The problem - they were also looking to buy the full rights to the images, ensuring that the images could be used exclusively by their company. That is not the profession of a stock agency. A stock agency, whether rights managed or royalty free, intends to use their images time and time again to make their profit.
This is a hard decision for many companies. The cost variables must be considered, as well as the usage rights. While hiring a photographer may cost more upfront, the end result could be a savings. The company will own their own stock, often customized to their needs, and if they buy out the copyright, they own the images with no constraints on their use. They also have the right to share or sell the images to another division of their company or anyone within their industry.
This article by ASMP (American Society of Media Photographer) points out the pros and cons of stock photography and explains the issues of rights-managed versus royalty-free images. As a business owner, it’s simply a matter of how you want to represent your business. Stock photography can be an affordable solution to business representation as long as you understand what it is you’re purchasing and how that purchase can be used.
Kerri Williams owns and operates Magpi Studios, a creative studio specializing in photography, graphic design and fine art to meet your businesses marketing needs.
Whether you hire a professional photographer or use stock images for your business, Magpi Studios can help. We can photograph your business to create your own private stock or work as your stock consultant to help you choose and manage your stock photography from an outside agency.
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