| John: I bet you have more experience in stock | | | | devoting any of your production to RM? |
| photography than any other photographer alive. | | | | Tom: I do a little RM work because of an old |
| You are a founder of Comstock, A founder of | | | | contract I have, but left to my own devices, I |
| Blend Images, the founder and owner of Tetra | | | | would shoot none at all. My alternate strategy is |
| Images. You have also been truly generous with | | | | to shoot an RM quality image for RF. This keeps |
| your knowledge and have spoken to | | | | my RF RPI very high and cuts out any of the |
| photographers countless times sharing your | | | | competition I would have from micro. |
| wealth of experience. | | | | As for occasionally making what I call a |
| You are not just the most experienced stock | | | | “lotto” sale through an RM buyout, I make |
| shooter ever; you are also one of the most | | | | those anyway. Every year I receive several |
| successful and an innovator as well. Over the | | | | requests to for buyouts of one of my RF |
| years I have also been impressed with your | | | | images. I won’t agree to the sale unless the |
| thorough and methodical approach to everything | | | | agency moves the image over to RM and gives |
| from cameras to sales data to shooting | | | | me an RM royalty rate. |
| approach. | | | | John: For someone just starting out in stock |
| I know of no one else who has as broad and | | | | would you recommend trying to get contracts |
| thorough knowledge of the stock photography | | | | with Getty, Corbis and the like…or to move in |
| business. I am truly honored to have this | | | | through Micro…or some other approach? If it is |
| opportunity to interview you. | | | | important to get a contract with a major agency, |
| Can you share with us some of your experience | | | | any advice for how to accomplish that? |
| and how that experience might give you some | | | | Tom: I am constantly training new photographers |
| unique insights into the business of stock? | | | | and always urge them to have several agencies |
| Tom: Probably the most important aspect of my | | | | as outlets for their work. Today I am |
| experience is that I am a stock photographer | | | | recommending they get a large agency (Getty, |
| who has also spent most of his career on the | | | | Corbis, etc.) contract, a contract with aggregator |
| stock agency side. So I have an agency | | | | agency like Blend or Tetra, or preferably both. |
| perspective of the stock business to share as | | | | Finally, I suggest that they develop a portfolio of |
| seen from a photographer’s point of view. | | | | 6-10 micro agencies. Micro will probably be more |
| John: The world of stock has changed almost | | | | important in the future than it is now so they |
| incomprehensibly since you first began shooting. | | | | should have a toe hold. |
| What do you view to be the most significant | | | | All this is aimed at augmenting their situational RPI |
| changes and their impact on us all? | | | | as I’ve outlined above. |
| Tom: The two most dramatic shifts in the stock | | | | John: Do you see direct sales by photographers |
| business came from an opening up of the client | | | | becoming an increasingly important piece of the |
| base due to technological advances. The first | | | | puzzle…say through Google Image search or the |
| was the advent of making duplicate | | | | like? |
| transparencies and catalog marketing. The | | | | Tom: It takes a lot of money and effort to begin |
| second, and more recent, was the advent of | | | | and maintain this type of marketing. |
| internet marketing. With each of these changes | | | | Photographers will have to ask themselves if that |
| there was a huge jump in the customer base. | | | | same time and effort might not provide a better |
| This was also caused through the increase in the | | | | return by increasing the agency outlets they |
| use of color imagery in advertising, which was | | | | already have. |
| brought about by lower printing costs and finally | | | | John: I have always known you as someone who |
| internet marketing itself. | | | | has traditionally “found the holes” in stock |
| Both of these changes increased the demand for | | | | collections and set about filling those holes. Are |
| commercial stock images, but the supply | | | | there any holes left, and if so, how does one go |
| eventually out-paced the demand as the | | | | about finding them? |
| advancing technology in cameras made it easier | | | | Tom: Holes are constantly coming into existence |
| to take photographs. | | | | as styles change. So images might exist on a |
| John: Micro Stock and crowd sourcing are the big | | | | specific topic, but the style of imagery might be |
| buzzwords right now. Can you give us your | | | | out of date. That presents an opportunity to |
| insights into Micro stock and its long-term | | | | refill a hole brought into existence through |
| implications? | | | | obsolescence. |
| Tom: Micro stock has been around long enough to | | | | John: What are some of the traits of a great |
| have established a permanent presence. I liken | | | | stock photo? |
| the advent of micro stock and its impact on | | | | A great stock photo must address a specific |
| traditional stock as what happened when the | | | | concept in a commercial industry. If you can |
| advent of RF had on RM when it first came upon | | | | picture who will use the photo, and what headline |
| the scene. Prices of the new product were | | | | they might apply to it, you are probably looking at |
| absurdly low and the new marketing models – | | | | a successful stock photo. |
| RF then, micro now – are laboring in an uphill | | | | John: What do you see as the most common |
| slog to raise prices. You’d think they would | | | | mistake stock photographers make? |
| have realized from the beginning that it is always | | | | Tom: Shooting without a plan. |
| easy to lower prices, but very difficult to raise | | | | A photographer needs to know before picking up |
| them. Anyone who would have purchased an | | | | the camera, exactly why he or she is taking the |
| image for $1 would probably have purchased it | | | | photo. |
| for $5 if that had been the starting price. Now | | | | John: I once heard you say that whatever your |
| the micros are stuck in a tough task of slowly | | | | plan is, stick to it. Do you still feel that way? |
| raising their prices, which is happening across the | | | | Tom: Yes, but that doesn’t mean sticking to |
| board. | | | | an out dated plan. We institute an annual plan at |
| We tend to forget that at its initial offering, RF | | | | the beginning of each year and hold a semi-annual |
| prices were about $9.95-$19 per image. | | | | modification meeting in June to fine tune the plan. |
| They’ve come a long way since then to a | | | | Plans are adapted to large changes in industry |
| point where the average returns from RF and RM | | | | conditions that have been observed to be true |
| are almost identical. | | | | over time. You don’t want to change with |
| For micro to survive successfully it will have to | | | | every new trend. |
| raise prices substantially. Their further success | | | | John: What advice would you give the aspiring |
| will depend upon their ability to attract a higher | | | | stock shooter, and would you give veteran |
| quality of material. This means images with | | | | shooters different advice? |
| higher production value. The value cannot be put | | | | Tom: With declining RPI’s it’s becoming |
| in by photographers if they don’t receive the | | | | more difficult to earn a substantial living from |
| financial returns from their efforts. It simply | | | | stock photography. Now is a good time to |
| doesn’t make sense as a business model. | | | | honestly access your talents and resources |
| John: You have at least done some investigatory | | | | relative to what it will take to make a go in the |
| participation in Micro stock, what have you learned | | | | tougher times ahead. |
| so far and do you plan on getting further in to | | | | John: I know you stay up on equipment. Can |
| Micro? | | | | you share with us some of your most essential |
| Tom: At this point in my career I don’t see | | | | and favorite gear? |
| any advantage to my getting involved much | | | | Tom: That’s easy: Nikon, Nikon, Nikon, and |
| further in micro. This is not to say it is not a | | | | Nikon – and by that I mean the entire Nikon |
| profitable arena. It can be, if you understand | | | | professional system of the D3, D3x, D700, and |
| how to work it as an adjunct to your traditional | | | | D300 in that order. I own all of them. Each |
| work. I have been advising new photographers | | | | camera fills a different niche shooting area. |
| to make micro a part of their portfolio. But I | | | | The D3 is my workhorse. It has superb quality, |
| advise them to be very mindful of the returns on | | | | a super fast motor at 9fps, a large image buffer |
| their investment as it relates to their production | | | | (45 images with the optional Nikon upgrade), and |
| costs. Basically, I advise them to produce | | | | is perfect for capturing fast moving subjects. I |
| quality material first for traditional. Then, if they | | | | have always said that a model in motion will |
| have any images left over or can reproduce a | | | | always outsell a static model. The D3 enables |
| shoot script in a cheaper way, they can put into | | | | me to keep the model in constant motion and |
| micro. This way they can actually increase their | | | | capture very spontaneous moments in motion |
| over all RPI, which leads us to the next | | | | that would have been lost to a camera with a |
| question… . | | | | slower motor and lesser focusing system. The |
| John: I know in the past you have been a big | | | | D3 has increased the number of takes I get from |
| proponent of tracking RPI. Is that still the case, | | | | a shoot and has probably paid for itself right |
| and if so, can you share your thinking on that? | | | | there. |
| Tom: Keeping track of RPI is more important | | | | The D3x with its 24mp sensor is what I use for |
| now than ever as a guide line to a successful | | | | scenic and still life. Once I saw how good the |
| career in stock photography. RPI’s have | | | | D3x was, I sold my medium format Hasselblad. |
| been in a free fall over the past two years. I | | | | That more than paid for the D3x. |
| doubt that this will reverse itself anytime soon if | | | | The D700 has the same sensor as the D3 but in |
| at all. Photographers are going to have to learn | | | | a much smaller body. I use it for travel |
| how to build their business models on lower RPI | | | | photography when I don’t want to carry a |
| numbers. I briefly touched on one such strategy | | | | large camera with me. You can also attach an |
| above. I call it working towards a “situational | | | | inexpensive auxiliary battery and motor on the |
| RPI”. | | | | D700 that boosts its speed to 8fps. That |
| We tend to put a lot of work into the | | | | makes it a good, less expensive backup to your |
| pre-production planning of our shoots. We also | | | | D3. |
| tend to produce to the same or similar scripts | | | | The D300 is the same body as the D700 but has |
| over time. If we have a good stock script, we | | | | the smaller dx sensor. It also takes the same |
| might want to shoot it two or three times using | | | | auxiliary motor as the D700. The dx image |
| different models, props, locations, etc. In the | | | | multiple factor of 1.5x makes it a good choice for |
| first shoot, we use the best of everything and | | | | animal photography. Your standard 300mm lens |
| submit it to the traditional agency where we get | | | | becomes a 450mm and the 8fps is more than |
| the highest RPI. The second time we produce | | | | enough to capture any moving action. |
| the script a little more economically. This time it | | | | The thing I like best about Nikon is that its |
| goes to an agency where our RPI is solid, but less | | | | cameras work as a well thought out system |
| that our top agency. Finally, we shoot the same | | | | – each addressing a separate need. I shoot |
| script very cheaply, maybe using friends as a | | | | a very wide variety of subjects. Additionally, |
| source of free models, etc. This time it goes to | | | | Nikon has wisely made all of these cameras |
| a group of 6-10 micro agencies. | | | | operate in similar fashion with similar controls. So |
| Let us say for the sake of our example that our | | | | it’s very easy to switch between them. As |
| RPI with the top agency is $10 per month, $5 per | | | | a result, I use all four Nikons along with one |
| month at the second agency, and $2.50 with the | | | | superb set of Nikon lenses. |
| micros. That means the shooting the same | | | | John: Any other thoughts, advice or observations |
| script three times with decreasing expenses each | | | | you would like to leave us with? |
| time, gives it a “situational RPI” of | | | | Tom: Follow the old stock market adage of |
| $17.50 per month for very little more effort and | | | | getting out when the market is high and jumping |
| expense. | | | | in when the market is low. NOW – in this |
| John: I am hearing a lot of buzz about the | | | | time of severe economic downturn -- is the time |
| resurgence of Rights Managed Stock. Do you | | | | to buy stocks in the stock market as well as |
| think there really is resurgence? Are you | | | | pour images into the stock photo market. |