Tag Archives: iStockphoto

Making the Dream Real

Several readers of Beyond Here have opened stock photography accounts in the last 3 months. Most do so with a sense of hope and trepidation. While it is exciting to see your portfolio growing, it is normal that downloads are slow to begin. Inevitably new contributors get to a point where they say – is this really worth it? Will this effort pay off? And ultimately, am I any good at this? If you are thinking those questions – this post is for you. Don’t give up, read on for 6 tips for making the dream real.

Success in stock photography is open to everyone. Expect a slow start and keep building that portfolio.

Firstly, as a new stock contributor, what should you expect?

(1) Downloads take time. This is a reality so don’t be surprised if you go for several months with few downloads. It happens for a range of reasons, but the main one is that of the thousands of buyers out there – it is highly unlikely that they will see your file on the day it is uploaded and download it immediately. More likely is that when they find your file, they are researching a range of different images for their project. They will think about it for a while, and only then, go ahead with the purchase. Consider also that your file is one of tens of millions of pictures in the stock library. It is unlikely that you’ll make a significant income with only a few hundred images. This process takes time, and a portfolio needs to be built.

(2) Stock is not a get rich quick scheme. Tied directly to the fact that downloads take time is that stock will not make you a fortune immediately. It has made many people fortunes, but it takes time, practice, and dedication. It is very likely that in your first few months, your income will be negligible or small. If that’s the case – don’t worry, it’s normal.

(3) There is competition. A little searching on stock libraries makes this clear. There is competition in stock which means poor quality images will not sell. Buyers have lots of alternatives among well lit, interesting images. This is what will drive improvement in a beginners photography skills – you need to produce good quality, well lit images to succeed in the long term.

Ok, enough of the reality check. So, what about tips for making the dream real? Here are 6 tips for getting past the new contributor doubts.

Tip 1 – Build That Portfolio. The quicker you can build a portfolio, the quicker success will come. If you have uploaded several hundred images with little success – this is the time to push on, not to give up. When I first started contributing to iStock in 2008 there were weekly upload limits of 15 images. Yes, I was only allowed to upload 15 images per week. It took ages to build a portfolio back then. Today, on iStock, that limit is 999. Effectively that means there is no upload limit – you can build your portfolio very quickly compared to what was possible in 2008. Make the most of it – build that portfolio.

Tip 2 – Diversify. A broadly diversified portfolio has more opportunity of success than a very narrow one. Shoot a range of different material. Don’t rely solely on what you have shot in the past. Step out of your comfort zone and shoot something new. If you love landscape photography, try some portrait and macro work too.

Tip 3 – Learn What Sells. Yes, this means studying what types of images are successful as stock. Look at the major stock libraries and search for topics you are interested in. Look at the portfolios of successful contributors. See what makes their work stand out and be successful. Beginners in stock photography often think they can just upload images that have been sitting on their hard drive for years and instantly generate a significant income. I have never seen that happen. The most common path to success is to learn what sells, and then set about building a portfolio with that in mind. Think of it as first understanding stock photography, and then shooting for that market.

Tip 4 – Make Key-wording a Strength. Key-wording refers to adding words to your file. These are important because this is how a buyer finds your files. You need to make sure that your key words are relevant and accurate. To do this, study successful files. Look at how they have been key-worded. It is worth being good at key-wording. It is no good having great files which buyers can’t find.

Finding a niche will accelerate your stock photo results

Tip 5 – Find A Niche. You can find success in stock without having a niche – but it is much easier if you do. This might be an area where you have access to a type of image that others don’t, or you have an intimate understanding of a topic which helps you shoot unique images. Finding a niche is not that hard. I live in Melbourne, Australia where there is a large colony of flying foxes. I found a niche with images of bats – which sell very well around Halloween. Where is your niche? If you are a member of a motor bike club – photograph bikes and bikers. If you’re a plumber, how about plumbing or trades person themes? If you are a mum, how about baby or kids themes? If you catch the ferry across Sydney harbor every day, how about a daily image of the opera house and harbor bridge? Finding a niche is not hard, and will help your stock photography results.

Tip 6 – Keep Going. Nothing in stock photography is more important than persistence. Don’t give up. Keep growing your portfolio, diversifying, and building your knowledge of the stock photography market. Success is open to everyone – you can do it too.

Thanks for taking the time to read ‘making the dream real’. The first 12 months as a stock photographer are the most challenging. If you can make it through that with a steadily growing portfolio, your chances of long term success are very good. Got more questions? Please add a comment to this post. I’ll do my best to answer your question. Good luck in making the dream real!!

How Does Payment from Stock Photography Work

I have written a series of posts on Beyond Here about stock photography, and specifically about micro stock photography. It has been exciting that readers of Beyond Here have opened micro stock photography accounts and are starting to earn an income from their images.

If you’d like to read those earlier posts, two of the most popular posts are here:

One common question from new stock photographers is ‘how does payment from stock photography work?’ My first advice to these photographers is not to worry about downloads and income in the early stages of their stock career, but to focus on building their portfolio. But I understand they still want to know how the payment function works. So here we go.

You need to meet the minimum payment level before requesting a payment

1, Minimum Payments. Each micro stock photography site has a minimum payment level. That is the minimum you need to exceed before you can request a payment. I assume this is so that the micro stock sites are not processing thousands and thousands of very small transactions.

I am an exclusive contributor at iStock where the minimum payment is USD$100. That means, when your balance from royalties from downloads of your images exceeds USD$100 you can request payment of those funds. Other micro stock sites may have different minimum payment levels. When I was contributing to Shutterstock in 2008 and 2009 the minimum was USD$70.

2. Payment Method. Again, the way that you get paid can vary slightly depending on which site you are using. Using iStock as the example you can currently choose between cheque, Paypal, Skrill, pre paid Mastercard, or direct deposit (for US account holders).

I live in Australia and have always used PayPal as my payment method. iStock has a published weekly payment schedule, and the funds appear in my PayPal account within 5 business days from that date. From there I transfer the funds from Paypal to a nominated bank account. It takes a few days to appear in the bank account, but it is a very simple transfer process.

3. Payment Frequency. iStock’s payment terms also outline that you can request only one payment per week. I assume this is so that they are not processing multiple payments to a single contributor. When you are starting out, the USD$100 minimum will seem a long way off. But with persistence it won’t be long until you are requesting a payment every week.

The payment process from micro stock sites is straightforward and they are processing thousands of payments each week. You will need to look into what are the payment methods your stock photography site offers, and then set up the appropriate account. For example, if you decide to use Paypal, you will need to set up a Paypal account and link a bank account to it. This is also a straightforward process which can be done online.

So if you are starting out in stock photography, don’t be anxious about the payment process – it’s easy. Instead focus on building a portfolio of quality stock images and trust that the downloads and royalties will come in time.

Thanks for reading ‘how does payment from stock photography work?’ I hope it has been useful for you.

Moving iStock Forward?

Last weekend iStock, one of the leading microstock photography agencies, implemented some significant changes in the pricing of their images. I outlined those changes in the post My Take On this Weeks iStock Announcements. So what has happened since then, and is it moving iStock forward?

The most significant change iStock introduced was to make files of all sizes the same price. Previously a small size image would be cheaper than a larger size. That meant that buyers who were using the image on the web only would buy the smallest size, and a buyer who was going to use the image in print would buy a larger sized image for a higher price. After the changes, all sizes are the same price.

Contributors will have to wait until subscription sales are reported to fully understand the impact of the changes

So what has been the impact on buyers and contributors? After less than a week of the ‘new iStock’ there is mixed reaction from buyers and contributors. Buyers who mainly purchased small size files for web use have been very vocal that the changes have resulted in a large price increase for them. And in effect, for this buying group, they have. These buyers have expressed their anger in iStock discussion forums and in social media. Many have said that they will use up their current credits and then move to other microstock agencies. To see some examples, check out the iStock facebook page. For me, as an exclusive iStock contributor, it’s pretty ugly reading.

What is unknown is the response from large buyers who mainly purchase larger sized files. For this group the changes are effectively a price decrease. So that should mean an increase in downloads.

The way the new pricing structure works, this group has an incentive to use the subscription program rather than make individual downloads. While individual sales are reported as they happen, subscription sales are only reported in the middle of the following month. So subscription sales being made in September will not be reported to contributors until the middle of October. It won’t be until then that contributors will know whether there has been a large increase in downloads from this buyer group.

What has the contributor response been to date? Well, it has been more balanced than the buyer response. Some are reporting an increase in sales, but many are reporting a decrease. Contributors with a lot of content in the Vetta collection seem particularly upset. These high priced files have become much more ‘affordable’. The price decrease also means a decrease in royalty per download for the contributor. To generate the same total royalty will need a large increase in volume which is not apparent yet. But in reality, contributors will not know the total impact until subscription sales are reported in the middle of October.

What’s my experience? My downloads and average $ per download have both decreased since the changes. That said, we are less than a week since the changes were made.

I am going to resist the urge to jump to any conclusions until we have more data. I’m sorry and disappointed that many buyers of small images are upset and are considering moving to competitors. But I don’t yet know the impact of larger buyers through the subscription program. I will wait to see those results before considering changing course.

I am hoping there has been a large increase in subscription sales. iStock and its owners, Getty Images, will be hoping so too. The direction they are taking iStock is very difficult to reverse, and the customers who leave will be nearly impossible to attract to return. Such a big move would not have been made without detailed research – now I hope the reality matches the research. Fingers crossed.

Are you an iStock buyer or contributor? Do you think the changes are moving iStock forward?