The global stock Images and Videos market size is expected reach revenues of over $4.43 billion by 2025, growing at a CAGR of close to 5% during the period 2019-2025. The global industry has undergone massive changes. Digital cameras have taken over, driving the stock photography craze among amateurs. The rise of the worldwide internet has led to the illegal download of images. Bing and Google are making it easier than ever to source free images, filtering those with Creative Commons licenses that enable broad use sans shelling out any money for it. These factors have pulled down the prices of stock images. At present, professional photographers, who are the lifeline of the industry, are refraining from producing them. However, since visuals play an important role in consumer lives and the fact that the world cannot go about with commerce and communication, the demand for stock images will never die.
In March 2020, with most of the world seemingly on lockdown, the stock content demand began plummeting exacerbated by the world economy slipping further into a recession. As businesses from corporations to mom and pop shops closed down, or cut out on all non-essential expenses, including marketing budgets, the regions that are among the biggest buyers of videos and images such as European countries, and US began cutting back on their spends. Branding efforts were being delayed and production firms and creative agencies’ campaigns and live-action shoots stalled.
- The stock images segment is likely to reach a revenue of share of over USD 2.9 billion by 2025 as stock images act as a catalyst for commercial communication, reflecting societal and cultural values.
- The commercial segment is expected to observe an incremental growth of close to USD 0.86 billion by 2025 due to the high application of commercial content in traditional advertising and digital mediums.
- The marketers segment is projected to reach a revenue of over USD 1.5 billion by 2025 on account of the increase in the digitalization trend and growth in the e-commerce sector.
- North America is anticipated to post a revenue growth of close to USD 2 billion by 2025 because of the increased demand from retail, automotive, telecom, financial services, and hospitality sectors, dictating the demand for relevant stock visual content.
GLOBAL STOCK IMAGES AND VIDEOS MARKET SEGMENTATION
This research report includes a detailed segmentation by
INSIGHTS BY PRODUCT
The global audience’s booming visual literacy is propelling the demand for stock images. With the growth of online purchases during the COVID pandemic, strong visuals are becoming a prerequisite for the e-commerce industry. The pandemic has brought about quite a few changes in the market on all aspects of marketing and advertising. Nearly 80% marketers are under pressure to demonstrate the effectiveness of visual content through ROIs. Thus, several e-commerce players are dependent on white background studio shots images, thereby increasing the requirement of adding context without heavy expenditure.
The global stock videos market is expected to grow at a CAGR of over 5% during the forecast period. Videos have observed a tremendous growth over the years. Videos are seeing the light of the day on a large scale due to the short attention span of modern consumers and the constant scrolling through social feeds for elongated periods of time. Businesses are investing in this market due to the growing demand for humanized, emotion-rich, substantial video content. The use of b-roll has further opened up the market for stock videos. Brands are trying to introduce big ideas among consumers by mapping out the brands through the narrative.
INSIGHTS BY LICENSE
The popularity of RM images is fading. In late 2019, Getty Images, the largest player offering this license announced that it was going to steadily drop its RM creative collection in 2020 to focus on its RF offering. While there are quite a few small and mid-sized agencies that offer them, the growth of the segment is slowing down. Hit by the pandemic, the license witnessed some weakening. However, stable economic growth once the pandemic subsides will drive spends on quality imagery, intensified by the need to prevent brand dilution.
Driven by the growth of the microstock industry, RF license models have become widely used. With a lot of SMEs finding this model more appealing and economical and with the arrival of a host of new businesses on the scene, the demand has blown up. The possibility of coincidental usage is lower because a lot of this demand is local. Consequently, players such as Getty Images often push for the conversion of older images from RM to RF license owing to a higher chance of the image being used. This is expected to only improve the conditions of the market.
INSIGHTS BY END-USERS
The COVID-19 crisis has accelerated some changes that were underway in the marketing industry. With the crisis driving everything digital and increasing e-commerce among smaller companies, opportunities for stock images and videos to be more effective and prove their worth have blown up. Marketers are adding more layers of interaction in web design to make it more experiential and garner more customer engagement with content. This has led to the use of everything from auto-play video to interactive infographics to UI elements. Neuromarketing is also gaining prominence, specifically among digital marketers that have traditionally used views, scroll depth, leads, subscriptions, and social shares to measure campaign performance.
The use of stock videos by cinematographers to pre-visualize scenes from scripted content is a trend that is surfacing in the market. This is particularly evident in the creation of marketing content, documentaries, and corporate content. With smartphone consumption rising, the second screen concept is booming. This is due to frequent participation in online conversations and scrolling through social feeds while watching live events or TV programs. This is translating into opportunities for macrostock or enhanced licenses as the integration of content happens across both the screens. The global films & TV producers segment is expected to reach over USD 1.1 billion in 2025.
INSIGHTS BY SOURCE
With the emergence of a high number of aspirational brands, the appeal of macrostock seems growing. However, the advent of Microstock, has eroded the customer base of Macrostock agencies. With the world drifting toward personalized content and brands finding it hard to establish their USPs, they are increasingly auditing their content and aiming to serve tailored imagery to their customers. These trends are likely to drive the demand for macrostock agencies. On the other hand, Microstock act swiftly in terms of innovation and adoption to new image technology. Macrostock agencies are on a roll due to the efforts gained at breaking new ground such as the embed initiatives to trailblazing partnerships with technology companies, social networks, publishing platforms. The rise of the World Wide Web brought with it a rush of new highly digital businesses that needed strong online presence and marketing collateral for their offline efforts. Microstock is more popular among value-conscious countries, which mostly fall under the developing umbrella, such as India.
INSIGHTS BY APPILCATION
The commercial market is witnessing a shift from billboards to digital media and TV as consumers spend more time at home translating to screen-based opportunities. The commercial stock imagery market is in the midst of the disruption. However, a few industry stakeholders realize how rapid the transformation needs to be to accommodate the change. Digitization is changing everything and driving conversations on mediums and platforms and creating an entirely new category for imagery. This is dwindling the demand from traditional paper-based and electronic mediums. The demand is only multiplying on the digital infrastructure where the shelf life of images is extremely short in most cases.
The editorial segment is being driven by present-day societies that are more openly diverse than ever. A growing sentiment of irrelevancy has led to a void in real representations of happenings and general content. The push toward maintaining editorial video libraries is high due to automated processes, which make producing content easy. As the commercial imagery market is highly saturated, many photographers are turning to freelance editorial work and syndicating their imagery and players in the market are bolstering this trend.
INSIGHTS BY GEOGRAPHY
The advertising spend in North America is expected to observe a decline of 4–6% considering investments in political spending. Internet advertising takes up the largest share of advertising spend and is the fastest growing medium in the region while newspapers are witnessing decline in newspapers promotions. The advertising spend witnessed a considerable decline during the last two weeks of Q2 2020 due to brands bringing down their ads on Facebook against the platform in support of civil rights groups-led boycott. Mobile video platforms are faring better in comparison to connected TV.
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. Technology has been an indisputable force that has been propelling the market and driving changes across the marketing world.
INSIGHTS BY VENDORS
The global stock images and videos market is highly consolidated. Ever since Getty Images and Corbis imposed a consumer-facing business model, the industry has not changed much. Getty Images, Visual China Group, Shutterstock, and Adobe Stock are the four major vendors that dominate the market. Several vendors in this market have a global presence and have therefore created strong brand images for their products. Several larger players have witnessed a decline in revenues over the last couple of years due to consolidation that devalued the market. The market is highly competitive with major players competing to gain higher market shares. Intense competition, rapid advances in technology, and frequent changes in end-user preferences constitute significant risks for vendors in the market. A lot of agencies offer all-you-can-eat subscriptions to drive volume and consequently revenue growth. However, the growth is expected to come from being part of the creative ecosystem and offering exclusive content.
The stock images and videos market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Segmentation by End-user
- Films & TV Producers
- Media & Publishing Companies
- Businesses and Individual Creators
Segmentation by Product
- Stock Images
- Stock Videos
Segmentation by License
Segmentation by Application
Segmentation by Source
Segmentation by Geography
- North America
- South Korea
- New Zealand
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa