History
Newspapers and magazines were first able to reproduce photographs instead of line drawings in the mid-1880s with the invention of the half-tone printing press. Initially starting with staff photographers, eventually independent free-lance photographers took over.
One of the first major stock photography agencies was founded in 1920 by H. Armstrong Roberts, which continues today under the name RobertStock.
For many years, stock photography consisted largely of outtakes ("seconds") from commercial magazine assignments. By the 1980s, it had become a specialty in its own right, with photographers creating new material for the express purpose of submitting it to a stock house. Agencies attempted to become more sophisticated about following and anticipating the needs of advertisers and communicating these needs to photographers. Photographs were composed with more of an eye for how they might look when combined with other elements; for example, a photo might be shot vertically with space at the top and down the left side, with the conscious intention that it might be licensed for use as a magazine cover.
The 1980s saw a surge of interest into stock photography by individual freelance amateur and hobbyist photographers spurred on by the publication of a book series (5 editions 1981-1999) “Sell&ReSell your Photos”, Writer’s Digest Books, -Rohn Engh.
In the 1990s, a period of consolidation followed, with Getty Images and Corbis becoming the two largest companies as a result of acquisitions. Today, stock photography companies have largely moved online. In the early 2000s, Jupitermedia Corporation started buying some of the smaller players in the market, aggregating them under the banner of their Jupiterimages division, and became the third largest player in the market. The availability of the internet provided a means for other, smaller companies to get a foothold in the industry.
In the year 2000, istockphoto, a microstock image exchange website, began which later impacted the stock photo industry by driving prices of royalty-free images down as low as $1 per image. It was done because of the recent availability of high-resolution digital cameras in the mass market and the ability for amateur photographers to upload their images and share on the website.
In 2004 Dreamstime, Shutterstock and Fotolia evolved existing models of image sharing and became established players, followed by many other smaller agencies. The trend was continued by fotoLibra in 2004 and in 2005 Scoopt started a photo news agency for citizen journalism enabling the public to upload and sell breaking news images taken with cameraphones. In 2007 Scoopt was purchased by Getty Images, which closed it in 2009. In 2008, Cutcaster created a stock photography marketplace where buyers could purchase images at a price set by the photographer or let buyers name their price by submitting a bid, which a photographer could accept, reject or submit a new offer back to the buyer.
In January 2009, SuperStock was purchased by RGB Ventures LLC, a partnership of stock agencies made up of Rubberball Productions, Glow Images and Blend Images.
Read more about this topic: Stock Photography
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