Stock Images And Videos Market - Global Outlook & Forecast 2023-2028

MARKET INSIGHTS

The global stock images and videos market size was valued at USD 4.96 billion in 2022 and is expected to reach USD 7.33 billion by 2028, growing at a CAGR of 6.74% during the forecast period. The market has grown significantly with the rise of digital media and the increased demand for visual content in various industries. It is a global market that caters to diverse customers, including small businesses, marketing agencies, media organizations, web designers, and individual content creators. The availability of various subjects, styles, and resolutions and flexible licensing options make the stock images and videos market a valuable resource for many creative projects.

The stock images and videos market refers to the buying and selling of digital media assets, such as photographs, illustrations, graphics, and videos, licensed for various purposes. These assets are created by photographers, videographers, and content creators and are made available for use by individuals, businesses, organizations, and the media. Stock images and videos are typically used in various industries and applications, including advertising, marketing, website design, print media, social media campaigns, presentations, blogs, and multimedia productions. They provide a convenient and cost-effective solution for individuals and businesses that require high-quality visual content without expensive in-house production or hiring professional photographers or videographers.

The U.S. is the largest stock images and video market in North America, capturing a share of around 89% in the North American market. The presence of major media and entertainment companies, advertising agencies, and a strong digital economy drives the industry in the United States. China is a rapidly growing market with a large base of internet users, expanding e-commerce industry, and increasing demand for visual content. In the APAC region, China is growing at the highest CAGR of more than 7%. In India, the stock images and videos market is driven by the growing adoption of stock images and videos in advertising, marketing, and e-commerce sectors, fueled by digital transformation.

GLOBAL MEDIA LANDSCAPE

The global media landscape in the stock images and videos market is dynamic and evolving, driven by technological advancements, changing consumer behavior, and the increasing demand for visual content across various platforms. The shift from traditional media to digital platforms has significantly impacted the market. With the proliferation of smartphones, social media, and online publishing, there is a growing need for high-quality visuals to engage and captivate audiences.

Further, user-generated content, including the stock images and videos market, has become a major force in the media landscape. Individuals and businesses increasingly contribute visual content to platforms, blurring the lines between professional and amateur content. UGC platforms and marketplaces are gaining popularity, providing a wide range of diverse and authentic visuals. Besides this, social media platforms have transformed how brands and individuals communicate and market their products and services. Stock images and videos are widely used in social media campaigns and influencer marketing, enabling businesses to create visually appealing content that resonates with their target audience.

Content marketing has become a critical strategy for businesses to attract and engage customers. Stock images and videos are vital in content creation, enabling brands to tell their stories visually and maintain consistency across various marketing channels. Thus, the global media landscape in the stock images and videos market is characterized by the increasing demand for visual content, the integration of visuals across various platforms, and the need for authentic and diverse visuals that resonate with target audiences. The digital transformation and the rise of user-generated content shape how visual media is created, consumed, and distributed.

RISK FACTORS IN MARKET

The stock images and videos market is highly competitive, as success depends on the vendor’s ability to retain and attract customers to their creative platform. Vendors' businesses might be affected if the customers reduce the time spent on creative platforms. If the companies do not upgrade themselves or if they do not continually invest in the latest technologies, there is a risk of meeting fewer requirements of customers and hence chances of less revenue generation. Economic, social, technological, and political factors can also affect the business and its operating results. The unauthorized use of copyrighted material is a significant risk factor in the stock images and videos market. Copyright infringement can lead to legal action, reputational damage, and financial penalties. Economic conditions such as recessions or currency fluctuations can impact the demand for stock images & videos. During tough economic times, companies may cut back on marketing and advertising spending, leading to decreased demand for visual content.

MARKET TRENDS & OPPORTUNITIES

Increasing Penetration of AI & ML in Stock Content
AI and ML algorithms have significantly progressed in image and video recognition capabilities. These technologies can analyze and understand the content of images and videos, enabling efficient categorization, tagging, and metadata generation. This allows for improved search and discovery of relevant stock visuals based on specific themes, objects, or concepts.

AI and ML algorithms can automate the process of content curation in the global stock images and videos market. These technologies can analyze customer preferences, trends, and engagement patterns to curate personalized collections of visuals. Automated content curation helps streamline users' search and selection process, offering them a more tailored and efficient experience.

Growing E-learning Industry
E-learning platforms and online education have grown substantially in recent years, driven by technological advancements, accessibility, and the increasing demand for flexible learning options. Visual content, including stock images and videos, plays a crucial role in e-learning by enhancing engagement, explaining complex concepts, and improving the learning experience. Visual content adds value to e-learning modules by visualizing concepts, diagrams, charts, and illustrations. Stock images and videos can help learners understand and retain information more effectively, as visual cues enhance comprehension and memory recall. Visual content brings life to the learning materials, making them more engaging and interactive.

INDUSTRY RESTRAINTS

Copyright Infringement & Breach of Licenses
Using images outside legal boundaries has been a nightmare in the global stock images and videos market and has only intensified with the advent of digital technology. The opportunities to infringe copyrights are ubiquitous, and many are unintentional. The existence of a strong culture of “freebooting,” where consumers and customers do not think twice before going “save as” on an image and sweeping it off a browser, is large to be blamed. The impression guiding the download is that if it is on the web, it is in the public domain and not protected by copyright laws. Freebooting falls in the purview of legal speak for most users.

SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT
The global stock images and videos market by product segments as stock images and stock videos. The growing demand for stock images can be attributed to the need for high-quality visuals in advertising, marketing, web design, publishing, and social media. Further, stock videos have gained significant traction in recent years, driven by the increasing demand for video content across digital platforms. The stock videos segment includes a variety of video clips, such as cinematic footage, lifestyle videos, animations, product demos, and corporate videos.

INSIGHTS BY SOURCE
Macrostock is a fragment of the traditional agencies – several have been bought out or fused under one name. Microstock, born in 2005, is a business model that sources content from photographers and sells licenses at lower prices than traditional stock photography agencies, charging between $1 to $100. The macrostock segment dominated the global stock images and videos market in 2022. Brands seek to maintain exclusivity in a market where social influence is widespread. Along with the emergence of more aspirational brands, macrostock seems more appealing.

INSIGHTS BY APPLICATION
The global stock images and videos market by application is segmented as commercial and editorial. The two applications typically differentiate how the content is permitted to be used. Images labeled for editorial use are mostly employed in illustrating news. The global stock images and videos market is highly dominated by demand for commercial purposes in 2022 and is expected to keep dominating in 2028. Digitization is changing everything, driving conversations on mediums and platforms, and creating an entirely new category for imagery. This is dwindling the demand for traditional paper-based and electronic mediums.

INSIGHTS BY LICENSE
RM-licensed images are often expensive and offer the option of exclusivity. They are traditionally licensed and are priced based on their use. RF-licensed images are cheaper than RM-licensed images, priced based on their size (in pixels). These non-exclusive images have a wide usage category with specific limits such as time. The global RM stock images and videos market held a higher share of around 55-60% in 2022. The advantage of RM licenses is that they offer exclusivity and control over media use, which can be especially important for high-profile or sensitive projects.

INSIGHTS BY END-USERS
The global stock images and videos market by end-users is segmented into marketers, film & tv producers, media & publishing, and businesses & individual creators. The marketer's segment was the highest revenue generator in the global industry in 2022. By combining creative talent with data, digital and independent creative companies were beginning to erode share from traditional agencies. And with the crisis driving everything digital and increasing e-commerce among smaller companies, the opportunities for stock images and videos to be more effective and prove their worth has increased drastically.

GEOGRAPHICAL ANALYSIS

North America accounted for the highest share of the global stock images and videos market in 2022, accounting for over 44%, mostly due to the presence of major media and entertainment companies, advertising agencies, and a strong digital economy. North America was led by the U.S., driven by a strong presence of media, advertising, and technology companies. Internet advertising takes up the largest share of ad spend and is the fastest-growing medium in the region, while newspapers are witnessing a decline in newspaper promotions. The advertising space in North America has grown exponentially over the last six years, primarily driven by cyclical events such as the Olympics and elections.

APAC is expected to witness the highest growth rate in the global stock images and videos market. APAC is heavily value-oriented; hence, stock images and videos tend to be a more economical choice for creatives, and they gained popularity during the pandemic. Spending on non-digital/linear formats such as radio, print, TV, OOH, and radio is expected to fall soon. By 2025, mobile, social media, desktop, and online video ads are expected to account for over 60% of the media spend, with mobile video and social media anticipated to register a 15% growth. Further, The MEA region shows growing demand for stock images & videos, with countries like the UAE, Saudi Arabia, and South Africa being the prominent markets. Various industries drive visual content demand, including advertising, marketing media, and web design.

COMPETITIVE LANDSCAPE

The global stock images and videos market is highly consolidated. The industry has not changed much since Getty Images and Corbis imposed a consumer-facing business model (i.e., low price, high volume). While there are several specialist agencies and mom-and-pop shops, the latter’s growth seems hazy. Specialist agencies, however, can survive provided they keep up with technology and demand developments. Major agencies such as Getty Images often represent smaller ones, benefitting from their exclusive content and giving them an opening. Several platforms have also come up that cater to amateurs. However, many of these leading companies are growing, not from new sales but by eating into the share of other smaller agencies. The vendors currently operating in the market are Adobe Stock, Getty Images, Shutterstock, Alamy, AP Images, and many others.