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Archive for the finance Category

A picture’s worth

A thousand words ? Make that 10 million US dollars. Apparently, there is lots of money to be made in the photo industry. Chief CEO founder and master of all photos in the world Jonathan Klein has just bought, for himself and his wife, a  10 rooms, full floor residence at 760 Park Avenue, in the heart of New York city. That sounds like Seattle might not be the center of the Getty universe anymore.

New York magazine describes the living space as  : “A private elevator landing leads to an expansive center gallery. The open floor plan allows guests to flow between the library, oversized living room, and dining room while enjoying eastern light from forty feet of frontage on Park Avenue making it a perfect layout for entertaining. Three well proportioned bedrooms are accessed via a private hallway off the entrance gallery. Originally two bedrooms, the expanded master bedroom with wood burning fireplace and his and her dressing rooms and baths, sits on the corner of 72nd and Park Avenue. A recently renovated eat-in-kitchen with den and maid’s room complete this gracious layout.”

You can see pictures of the inside of the apartment here( probably not for long) as well as read about his neighbors here.

If you are a Getty photographer, you can now be proud to know that every time you get a sales statement with a few dollars on it, you have happily contributed to helping your boss finally find a cozy little “Pied a terre”. If you are not, then now you know where the money for day rates and licensing fees have gone to.

Flying solo

Anyone can take a picture…that is the lesson Flickr and Microstock has recently taught us with a “pie in the face” method. It doesn’t take that much skills to create images that could use for licensing by someone else. Much less then painting, writing music, writing ( properly) or any other creative activity. Furthermore, technology has really improved the ease of access. Most images that we see today, even taken by pros, could have never existed 15 years ago because cameras, lenses and everything around it was just not that good. However, as much as photography is becoming more and more accessible, great images remain an act of creative magic. And its a talent, if not a gift.

The same goes for licensing images. Everyone claims they can sell pictures. However, it is not true. let’s take a few example, if you don’t mind. Microstock shooters. Sure they can take equivalent quality pictures as your average traditional RF/RM guy. But can they sell it ? Nope. They have to rely on the savvy tech marketing magicians of microstock sites like Istock or Dreamstime to make that happen. They could start their own microstock site with only their image, priced at even lower than any competition and yet see nothing. Ok..not convinced. Well, let’s jump into photojournalism.  We are all familiar with great images that never get published. Why? Because images do not sell themselves. It’s a tragic myth.

More and more, one can see popping up all over the internet, sites build by young geeky entrepreneur offering to let photographers sell direct and cut the “middleman” or agency. They make people beleive the age old myth “if you build it they will come”.  The more independent photographers create independent selling websites ( not the portfolio kind), the more they dilute and isolate their work.

Why do you think a lot of these database site scream high and loud how many images they contain ( 15 million, 43 million, 5 petratrillion..) ? Because they understand that the promise of a wealth of content is more important to most buyers than quality. They are looking for a solution, not a great image. Something that will fit well and appropriately in that space. They couldn’t care less if it was used before, like they couldn’t care less if their care is mass produced and others have the same model with the same color.

Think selling images in a big database is the solution ? wrong again. You can try, but there is no guarantee. Furthermore, the bigger the collection, the more chance your images have to be ignored . Great IPTC info ? Depends on what you call great: what you put in or what those guys in  Bangalore put in ? Or those so self proclaimed expert? Mmm.

So what is it ? Great marketing ? Sure…but do you know what that is ? and how to achieve it ? Probably not. If you did, you would not be reading this but instead, be enjoying a nice coktail on the porch of your summer house looking at the sunset dip into a deep blue sea.

Admit it. You don’t know. You have no idea how to sell images. It takes talent, like shooting great images. Whether learned or natural, it’s not something most photographer have. Great athletes have agents, great actor have agents, why do you think photographers don’t need any ?

Because building a searchable website with a shopping cart is easy, and cheap ? And that, with a kick-ass SEO strategy will make them millionaires? Well, let’s think of who have succeeded up to now…What? no names come to mind? However, photographers with crappy websites ( or none at all) that are doing very, very well…many.

So, next time someone comes to you with a turn key solution that promises to cut the middle man and make you truly independent, you can beleive them, because that is exactly what it will do for you. And nothing else.

The unpredictable laws of meaning

You know there is a problem when a company selling you a service treats you with superiority and disdain. Somewhere in the sale cycle, someone hates the fact that they should be at the client service and not the opposite.

Take software solution companies, for example. They usually work in a vacuum creating  some software solution that they decide is very cool and once finished, look around to see if there is a market for it. There’s usually a market for everything. Once they find the market, they approach the “non software” people in a attempt to sell it. Because they usually fall on non technical people who have no clue on how difficult it has been to design and implement what they are trying to sell, they are quickly branded as “idiots”, “retards”, or “useless”. Nevertheless, the software company still needs to make money to cover the costs of creating and maintaining there operation. So they reluctantly continue  selling their product/services to the “incompetent idiots” that are not understanding the genius behind the applications they are buying.

The software companies stay very very close to their software peers in order to compensate and gather as much praises from them. After all, a praises from a peer is so much better than one from your clients. They couldn’t care less what their customers say about their products and what improvement they would like to see, as they see them as inferior that are only there to pay their bills. Like monkeys trying to explain to you how to operate your car. They come to really disdain this relationship whereby they have to take money from “idiots”. All they want is to be recognized as the new Google, get millions in funding and be admired by other programmers.

There is no love in a application creator/client relationship. We have seen it and we still see it in the photo industry. Since going digital, and especially after the billions spend by Yahoo for Flickr, a little flock of software companies, mostly start ups, have knocked on the doors of this market. And reluctantly did so. From database management to image recognition, they have found and develop some interesting tools for this market. However, they disdain the fact that they have to rely on poorly technology educated photo people to make a living.

What are the signs of such companies ? Well, first and foremost, very poor communications skills. Do not return emails or phone calls or take a very, very long time doing so. Would you answer quickly to someone you despise ? They certainly don’t.

Poor or in existent sales team. Usually handled by an entry level person that has absolutely no power. He/she is obviously at the bottom of the pole at this company, and while usually very nice and understanding, a complete waste of time to communicate with.

No training or well thought out documentation. You either get it, like they do, or you are a complete moron that wouldn’t even understand a step by step instruction, so why bother ?

They want you to come to them. Since their creation is so genius, you should be begging to use it, not the opposite.

Finally, and probably the most important, they turn their creation into a “Solution”. Although they have develop an application that they thought was challenging enough to do, they will come to you as if they have found a cure to your problems. They will take the high road and declare: “we are here to save photography”. They take a superior stand to any seasoned professional and explain with a condescending air of ultimate superiority that they know what is wrong with the Photography business and that their software/app/service is THE solution. All like little messiah, they have a greater purpose than selling their companies services. They are here to save you from yourselves.

Let’s be realist. They are all in it to make money. Lots and lots of money. Nothing more and nothing less. They hide there real intention behind a mask of fake benevolence. Most have this annoying unsaid little scheme that if they can corner the market, they can turn around, raise prices, and get a choking stronghold on this universe. In the mean time they rack millions in investors money with this promise.

While technology is certainly a tool for growth, it is also full of the worst snake oil sellers one can ever meet. Their efforts are not as pure as they say. All of them are trying to make a profit , and as large as possible. So next time they ring at your door, think about their business model. How do they intend to get rich on your back. Sure, everyone deserves to be paid. But, is it worth it for your business ?.How tied up will you find yourself if they succeed in cornering the market ? Who will benefit the most ? You, or them ?

Most importantly, if they then do not respond promptly to your emails ( remember, these guys are on their computers/ smartphones 24/7 ), then you know that they could care less about you. And it’s time to move on.

Perception management

So, the big Kahouna himself, founder and CEO of the photo destroying company Getty, Mr Klein is on a visit to check on his troops in Vancouver, while they snap away at Olympic hopefuls. During his visit in Vancouver, he is snapped away by CNBC investigative team for what they call a “Power Lunch”.

While they sit down and eat nothing, the conversation immediately jumps into some of the toughest question the poor man has had to answer, like how difficult it must be to run a company that has turned private. The Klein manages to escape the potential trap by explaining that it is, O so hard to go from screaming shareholders to a lonely, but rich, sole owner. But then, in a stroke of never seen journalistic boldness, one of the journalist questions the CEO about Getty’s role in the now famous Tiger Wood image released two days before his press conference. Pap’ agencies allegedly “lost” a potential 1 million revenue because of that practically free image. Here’s what Johnathan answered:

Over a long period of time, Getty Images has established itself as the gold standard in terms of not only the image quality, but the way we behave. As a result of that, we don’t do paparazzi images and as a result of that, we often get a called in either for a non-profit basis like we do all the Brad Pitt and Angelina Jolie photos entirely non-profit…We were approached and Tiger happened to know the photographer (Sam Greenwood) and has known him for a long time.

Yes, you read it right : “we don’t do paparazzi images”. Well, let’s take a look at your website and check :

From yesterday:Getty Paparrazzi

Right, Getty doesn’t call that Paparazzi, they call it : Candids. Like they are just doing something quite harmless and innocent.  “me officer ? No, I am not a paparazzi, I am a candid photographer”. Do they also eat candies while taking candid pictures ?

During the same response, the Klein also notes on Getty’s such wonderful friendship with the likes of Angelina Jolie and hubby Brad Pitt. Again, let’s check on his site :

JoliCandid

O ya. That is PR approved portrait studio in all it’s splendor, isn’t it ? I am sure Jolie is happy with that shot and the many other “candid” images of Jolie on the Getty site.

Getty, no paparazzi ? Right !! Like Corbis is making a profit. We beleive you, Mr Klein.

More of the Pulitzer prize quality interview by two top notch heavy duty CNBC reporters a this link.

While you that, I am going to take my 300 mm and find a nice bush from behind which i can hide and take beautiful Candid photography for my portfolio …

For some cheese

      Tired of Orphan works endless discussion ? Fed up about Microstrock, Getty and Google treating photography as a garbage dump ? Bored of reading self-proclaimed photo gurus telling you that “posterity is right around the corner “? Tired of spending gazillions hard earned dollars ( or pesos, or Euros, or Krons ?) on far away workshop with cynical and decadent reporters who need a new camera and couldn’t give a crap what your name is ? Or are you just loosing your eyesight on another overpriced piece of software supposedly made to enhance your workflow but actually puts you that much further from delivering your images on time ?camenbert

Well, if you have a Facebook account ( which, by the way, you should by now), head of to “L’apero du premier Jeudi du mois“. Apparently created by a group of French photographers who just like to have fun, and a drink, once a month  ( on the first Thursday of the month) , it is becoming the place to hang out. Why ? because they have just launched their first photo contest.And unlike PDN or other self righteous photo publication, it is free and fun.

Here are, in a nutshell, the rules.  5 images, coherent, on one topic, which is a pun in French : ” Aperitif: Contact Glasses” . You know, in France, when they go out for drinks, before dinner, they have a beer, or a Kir, or a Ricard, and they wish each other a good health ( “as ta sante”, or “a la votre”) before hitting their glasses together and slipping it away. A good way to push away a bad day and a great way to start an evening. The short photo essay for the contest that runs from March 1 to May 5, should illustrate that.  Simple enough ?

The prizes ? O yes, of course, this is what you win ( if you win):

1 prize : a Camenbert

2nd prize: a bottle of Zubrowska

3rd; Pize : a Ricoh camera

The jury ? : everyone. the images will be posted on Facebook and anyone can vote for their favorite . In June, the winner will be announce. So next time you sit down for drinks with your friends after a long boring day and let your thoughts drift into the friendship space, grab a camera and photograph this precious moment . Who knows, you might win a camenbert.

All info ( in French, for now) at the Facebook page here.

Share It

Wired magazine, in the trail of others, has partnered with Adobe Air, to display what their publication will look on a E reader. There are a few interesting points here.

First, for the geeks out there, it is interesting to see that Adobe, whose Flash is not supported by Apple’s Ipad, is now pushing Air  as a delivery platform. There will be a battle out there on what application will be running all these E magazines and Adobe is shooting the first salvo.

The second part is that Wired present this as an addition to their print publication, not as a replacement. As much as they are investing in the new technology, they are not ready to drop their print, web, IPhone apps just for that.

The Third, is that besides a format, there is no mention of hardware. It is supposed that this is for an Ipad, but really, it is for any existing or to be invented color tablet  ( sorry Kindle).

What about photography usage? Well, they are some very compelling statements here.

Images are a key element of this evolution. From 360 to immersible, from stop action to galleries, there are many forms of photography shown. Nothing new indeed, but a new usage certainly. Where do you find stock for 360 photography ? nowhere currently. So where will they go ?  Assignment, surely. Are you ready ? There is stock for panoramas images, but will that be enough ? And is the micro stock community going to plunge into this also ?  Probably.

However, the more important element of photography usage here is the option to share it. Either via email or social networks, almost every image can be shared with a click of one button. Now, we all know that editorial pricing has always been about placement, time and geography. What has never been appropriately addressed with web usage is now going to become standard practice for all editorial. Al thought you have  licensed your  image for a week, a month and for a small side usage, next thing you know it’s all over the web, in different format, given away for free to people you have never heard of. And never will.

Sure, you can go the Getty way. Here, pay me $49 and do whatever you want with the image. I would like to see Getty’s executives faces when one of their $49 image goes viral. Ouch. Na..not a good idea. Images should be license based on usage and usage should be tracked per number of clicks. After all, if an article or an image published on Tablet gets shared a lot, it is all in the benefit of the publication, right ? It’s free marketing. Yet, your image has been instrumental to that sharing action, so shouldn’t you be compensated ?

What do you mean you do not know how much click it has seen ? Do you know how much circulation a magazine has ? Yes, ok, well, with a link, it is even easier to track. They want a sharing option on your images, charge them either an additional flat fee, or a fee per clicks. But please, charge something. You are not Getty. You will not get back in volume what you just gave away for free. Never.

So. first thing first: Add to all your invoices  and delivery statement “NO DIGITAL RIGHTS” . If they want web usage or E Readers, then lets negotiate a different fee. Ask if there will be a sharing option . If yes, then add an additional fee. How much? well, that is up to you to decide.

Be proactive. You will be proud you did.

There will be blood

If you like blood, you will love the new crop of World Press Awards winners. There is a lot of it, in full details and in brilliant colors. Hopefully for you, you will not look at the galleries just after eating, the results might not get along with your stomach.

The top winner, an image of a woman on a Tehran roof shooting news during the Iranian election protest shouldn’t have won. Why ? Because it is part of a series of images that Italian photographer Pietro Masturzo has done on the antiquated way Iranians communicated during the uprising. It is much stronger as part of the set than as a standalone. Obviously the jury doesn’t know the difference between a single shot and a narrative. This is not a single shot. It makes it seem that the other images are useless. They are not.

world press winner

Elsewhere in the prizes, you see a lot of winners depicting the Gaza war from the Palestinian side. Obviously the jury had a political statement to make and they made it loud and clear. Too loud and clear. The result puts in jeopardy their ability the find the real best images rather than those images that agree with their very one sided and opinionated point of view.

The rest of the winners follow a similar pattern . Lot’s of violence and blood, if possible, too much Black and white (They can’t shake off  that old cliche that B/W makes it more..intellectual, more valuable somehow), interrupted with portrait galleries, something that has been plaguing European photojournalism for quite some time.

What will have everybody talking about this year, will be the  “Special Mention, recognizing a frame grab from a video posted on YouTube in June 2009 during the post-election uprising in Iran.”special mention

Awarded to Reuters (?), not only it’s a video grab ( Still photography is dead !!)  , it was shot by an amateur ( here comes the citizen photojournalist !!) and was probably shot on a camera phone ( dump the DLSR, phones are the new cameras !!). Well, you can just imagine the rest.

Finally, true to itself, still no multimedia awards of any kind . Take a look and make a your decision :

world Press awards 2009

Photojournalism’s boutiques

What happens when photographers cannot sell images anymore ? What do they do if magazines do not pay for their coverage? Well, they turn around and start selling to other photographers. Not images, but workshops.

There seem to be a craze of photogrpahy workshops going around. Established or completely  unknown photographers are launching into  what seems to be a lucrative market : Teaching others how to take pictures. The irony is that, by helping others mastering their cameras, they add to the already very saturated market. There has been nature workshops, documentary workshops, studio, lighting, macro, micro, flowers, shoes, you name it workshops. Now, in what seems a desperate move, here comes the real reality workshops.

First is the Covering Conflict workshop . Handled by some of the top war photographers around, this photogrpahy workshop will put you in a real war situation with people shooting at each other ( no, not real bullets) so you can feel comfortable next time you are parachuted in a war zone. Eric Bouvet, Philip Horvat, Jason Howe, Wade Goodard will meet you in Bosnia to help you cover the city of  Dubrovnik and what is left of the battle field. Then, “You will be asked to photograph a simulated conflict of two opposing armed groups. Approximately 20 men, many former soldiers and defenders of the region, dressed in uniform, armed with Air Soft weapons (these weapons look like really firearms - M16s and AK 47s but fire small plastic pallets). Though they cannot cause you any harm, they do hurt a little if hit at close range. This will give you the sense danger that exists in a real theatre of war.”

For 990 Euros, including food and lodging, you get as close to a conflict than anyone might ever come. Will it be useful, doubtful. However, you get to spend a few days with some of the best conflict photographers in the world, and that alone, is worth it. More info here : Covering Conflict

On another side, is photographer Zoriah workshop : “I have decided to offer a special small group workshop in Haiti focused on photographing the aftermath of the earthquake.  Subjects covered will be working in disaster zones and other difficult and dangerous situations, survival and logistics in difficult environments, photograph people, working with NGO’s (Non Governmental Organizations) and aid organizations, editing and digital darkroom technique and marketing and making your stories available for the world to see. 

For $4000.00 you get to cover the aftermath of Haiti . Like a Safari. Learn how to shoot real people fighting for food and survival. Photograph NGO’s as they try to save the most lives as possible with minimum help . Finally, learn how to distance yourself from the whole thing and pretend this is just a classroom exercise.You will certainly come out with a clean portfolio that will amaze your friends and neighbors.

To Zoriah’s credit : ” 50% of the money raised from this workshop will go to my friends at Hospice Saint Joseph, which was completely destroyed in the quake”

But still, is this appropriate ? Use the devastation and suffering of the Haitian people as a backdrop for a photogrpahy workshop? Isn’t this a tad cynical and tasteless ? It is understandable that a photo journalist has to distance himself from his subjects, but isn’t this too far ? Finally, why teach a job that you have just left because there was no money in it ?

You can sign up and get more information for this Haiti Workshop here :

Photojournalism Workshops - Haiti Earthquake Intimate Group

A piece of Advice (for free)

It’s not photography that is sick and dying, it’s the people that handle it. Sure, there has been dramatic bankruptcies, like Grazia Neri , l’ Oeil Public and now Eyedea Press ( that one was a long time coming). On the other hand, there more than a billion of images on Flickr, more on Photobucket, and Facebook. There has never been so many cameras in the streets and so many people interested in photography. With the Internet, there has never been such a demand, and need for images. Smartphones, Ipad, tablets, netbooks, are only increasing the demand for stills.

Yet, pro photographer can’t seem to make a living anymore, while photo editors have either no budget or are being laid off by buckets. So what is wrong ? Well, for one, it’s those who manage photography that are sick. None of the old and current guard have any idea how to take advantage of this Tsunami of demand. It’s leaking from all over the place. The only made with Flickr was when the original founders sold it to Yahoo. Since, it’s been bleeding cash. Instead of creating tools to allow members to license it, they passed it on to Getty Images to try and squeeze some money juice out of it. It could take decades, if not century for Yahoo to see a return on investment using this route.

While magazines are dying a slow and painful circulation death, there online counterpart have yet to be succesful in generate the same revenue as they used too . Why, because they keep on trying to replicate online what has been a success in print. The fact that its not working doesn’t seem to bother them. They keep on trying.

Photographers still shoot the same thing, the same way, for a clientele that is shrinking, both in size and resources. They desperately cling to old formulas that they hope will resurface some day. Not going to happen. And finally, photo agencies try to hang on the slippery slop of declining revenue by agreeing to cut fees in the hopes there is a trampoline at the bottom of the hill. Not there.

Everyone is playing the waiting game, hoping that some savior will find the magic solution. In the mean time, they are all guilty of killing photography by undervaluing it. It’s has become a commodity, some say. Other offer ridiculous subscription model, feeling comfort in the fact that mass production Getty does it. All whine all day, all night, all the time.

Stop whining. Do . Try. fail. Try again. fail again. Who cares? You will make progress. And if you are lucky ( or smart), it will work. Better than you had ever expected. It’s not obvious. But the market is there. The current model doesn’t work, we can all agree on that. So, try new ones. Take advice from no one. Just do. It will hurt, it will be frustrating, it will be exhausting, it will feel incredibly useless, it will not work. But it’s so much better than whining all the time. Stop waiting for something to happen. Take control.

Dell acquires Magnum

Well, not exactly. The Investment firm MSD managed by Michael Dell, the founder of the famous computers, has acquires 185,000 prints from the Magnum collection. The sum? undisclosed. But it is rumored to be the largest photo transaction in history. The terms, also unclear. Magnum retains the copyright and the  licensing rights.

So what did the MSD acquire ? Well, probably just that : 185,00 prints ranging from the the 1930’s to 1998. The prints will reside for now in Austin, Texas, Harry Ransom Center for 5 years. After that, nothing is known.It is certainly a well thought out coup for Magnum which has been struggling with financial issues for decades and avoided multiple acquisition schemes launched by the Corbis and Getty’s .

This will give them a financial security to continue to operate independently for a long while without losing their cherished independence.It is also great news for photography lovers. Not only Magnum escapes the claw of the greedy corporates and their notorious incompetence but there is a good chance this collection will travel across the world for viewing by even more people.

Finally, since Magnum is a co op, there is a very good chance the photographers themselves retain the majority of this financial downfall and they really, really deserve it.

PS : estimates put the deal at $100 Million. That is about $500.00 per print. Is that a good deal ?

More here  at Bloomberg news