Corbis launches into micro-stock
Following on from last week's announcement of the closure of its assignment photography division, Corbis has set its sights on the opposite end of the market - micro-stock. Corbis has now launched the public beta of SnapVillage - its website for user generated or micro-stock images. One year in development, SnapVillage takes advantage of the boom in digital photography, and the subsequent high volumes of images taken by amateur as well as professional photographers, which can be sold for far lower rates than traditional royalty-free or rights-managed work. In an interview with BJP earlier this year, the then CEO of Corbis Steve Davis (now replaced by Gary Shenk), signalled the company's ambitions in this arena, although he admitted that micro-stock generated approximately $50 million in revenue last year in an industry that had more than $2 billion in total revenues (BJP, 21 March). However, speaking to BJP, Adam Brotman, the vice president of networks, explained that this is now looking closer to $100 million for 2007 highlighting 'that this is a tremendously fast growing segment of the industry'. While the new site will compete with current micro-stock providers - including Getty Images owned iStockPhoto, Shutterstock and Dreamstock - Corbis is aiming for the number one spot. Brotman says: 'This is ultimate aspiration in anything that we do.' Key to this is Corbis' belief that it has a unique model for SnapVillage. In particular, photographers are able to pick their own price for their images. Photographers can set image price levels at five increments of $1, $5, $10, $25 and $50 and they change prices on their pictures at any time. Brotman adds that there are no exclusivity requirements for images uploaded to SnapVillage, no subscription fees and Corbis is offering a royalty rate of 30% for all flat price image sales, and 30 cents a download on all subscriptions sales. This is to be compared to rates of between 20-40% for royalty-free images sold through to the corbis site. Images are being sold either as single downloads or via a 30-day subscription, which allows up to 750 downloads for $199. Brotman says that the length of the subscription and limit on the number of downloads were determined by looking at what other micro-stock sites are offering. 'Selling subscriptions on a month-to-month basis seemed the most attractive methodology, but we may change our offering over time', he added. Initially, SnapVillage is adopting 'a far more open' attitude to contributions than other sites, continues Brotman, although Corbis' editorial team will vet work to ensure that model releases have been signed, images are authentic and that there are no legal problems. Once on the website, images will be rated for their 'snappyness', which, says Corbis, is a 'dynamic rating that is driven by multiple measures of a picture's popularity, including the number of times it has been viewed, downloaded, "favourited", commented upon, shared and purchased'. This will serve as an aid for picture buyers, says Brotman. And Corbis editors will also be on the look out for photographers whose work is good enough to be included in Corbis' higher end collections. As Brotman explains: 'SnapVillage will act as photographer farm club for Corbis'. However, Brotman expects that the micro-stock site may well have a negative impact on the lower end of Corbis' current royalty-free offerings. 'There is no doubt that this launch will put price pressure on the lower end royalty-free collections. This is something that is inevitable given our customers' expectations. However, this is something that we had always expected but we determined that the move into micro-stock was a necessity. Our customers want a broad price spectrum of images and they will move up and down as they please.' The SnapVillage website is now live but Corbis is looking for feedback from both contributors and buyers over the next two to three months. published by: |