CEPIC New Media Conference: Making Millions with Microstock, One Euro at a Time (Part II)
Tyler Olson – MicrostockGroup – A meeting place for microstock photographers
Tyler Olson, full time microstocker, lymph and “leaf” of MicrostockGroup, has recently published the interesting results of the 2009 microstock survey, based on 413 people/contributors answers Microstock Survey – 2009 Results. During the panel Making Millions with Microstock, One Euro at a Time, Tyler presented some more insights and statistics extracted from the survey and from other sources.
First of all, “Why do microstock photographers insist on ruining the stock photography industry?”; because “It's fun!”.
Microstock is open to everyone. The most part of the microstock contributors has a small portfolio, here some stats from iStockcharts:
- ~30,000 iStock Photographers with at least 1 image
- 7% (1782) of iStock photographers have a portfolio over 1000 images
- 1.4% (408) over 2500 images
- paid as little as $0.20/download but with several downloads per day
- zero cost to have images online
buyers need images, and LOTS of them
it’s very reliable profit
very quantifiable profit
for the hobby photographer, everything is profit
Microstock pays off for those who make an effort
- On iStock 50% of the images belong to ~7% of photographers (numbers are repeating themselves, a similar proportion was presented by Yuri Arcurs regard his portfolio).
- On iStock 50% of the image sales belong to ~2% of photographers
How much can I make?
The long tail is also well represented in this slide, with 89% of the photographers polled with a microstock income < 25,000$ (most of them in the lower part…).
The average RPI / Year of the 388 photographers is USD 9.26, with a sensible difference:
- income < USD 25,000 –> RPI USD 5.35
- income > USD 25,000 –> RPI USD 17.85
Finally, Tyler's 5 tips for microstock success, with a special indication for those who are coming from the traditional stock photo market and have to learn dealing with image rejections…
Slides courtesy of Tyler Olson