Photoanswers interviews Adam Riggs from Shutterstock Image Library

By PA News Team

General news

13 November 2009 16:27

Shutterstock is the world’s largest-subscription based photo library. Given the chance, we asked Adam Riggs, CFO of Shutterstock.com some questions about the future of image libraries and how he sees them developing over the coming years…

In a nutshell, tell us about Shutterstock and how it was founded?

Shutterstock is a classic case of an idea that just took off. One man’s interest in selling his own photos has now become the world’s largest subscription-based online stock image agency.

Back in 2003, soon after starting Shutterstock, Founder and CEO Jon Oringer realised that his photography alone could not satisfy customers’ demand for affordable stock images. In response, he decided to become an agent, offering other peoples’ work too.

Today, his company’s library contains over 8.5 million photos, vectors, and illustrations, and grows by about 70,000 images weekly.

In addition, Shutterstock Footage, launched in 2006, offers royalty-free video content with a library of over 145,000 video clips and more than 4,000 new ones added each month.

All images and video clips sold through Shutterstock are royalty-free, so subscribers can use their downloaded content forever. Image buyers can subscribe from monthly to annual terms and download up to 25 images per day. Video clips are also available via subscription, or buyers can purchase them on a per-clip basis.

What was the inspiration to set up Shutterstock?

Jon Oringer had used images from other stock agencies for businesses he had previously launched. He noticed that quality images were too highly priced and that less expensive material was usually uninspiring.

Jon taught himself the basics of photography and began shooting his own stock photos. In six months, he had over 100,000 images and uploaded 30,000 for sale onto a subscription site he created. In just hours, dozens of photographers were asking him to sell their images as well.

Jon realised that millions of photos were being taken every day by professional and amateur photographers - for no commercial gain. By combining subscriptions with user-generated content, Shutterstock was born.

The company’s growth and success can be attributed to its unique ‘crowdsourcing’ business model, whereby photographers submit their work and are compensated each time a subscriber downloads their image.

How many photographers are hosting images on Shutterstock?

Shutterstock has over 200,000 contributors - a combination of photographers, artists and videographers.

How important do you think it is that people with cameras earn money from taking photographs?

It’s a wonderful opportunity - whether to generate cash from a hobby, move from amateur enthusiast into a professional career, or to extend the reach and value of professional work.

Digital cameras have transformed the stock photography industry. More people can now take marketable shots, and Shutterstock’s innovative business model provides the vital link. In fact, many submitters are making significant, even full-time, incomes from their images on Shutterstock.

How important is it that the images that are submitted to the library are of high quality?

Image quality is paramount. We carefully review every image we receive - and we currently accept only about 40 percent of submissions.

A quality stock image must be marketable, technically sound and include relevant keywords.

Often, ensuring that an image is technically sound is more easily achievable, since determining this is based on various factors including framing, lighting, and composition – these elements are essential, but can be self-taught.

Taking a marketable image is often a more creative challenge, as photographers may overlook the need to incorporate elements to help sell or promote a product, concept, or idea.

At Shutterstock, we encourage first-timers to study the images from other successful submitters, as well as to review our Top 50 Images to see examples of effective stock imagery.

Has the recent increase in camera resolution significantly changed the way that images are accepted and rejected?

Yes. Advancements in camera technology have afforded photographers greater flexibility and scope, particularly in terms of modifying their images in post production.

Do you see there being a future for video stock libraries, with a majority of D-SLR’s now featuring HD Movie Mode?

We have seen the online stock image market grow dramatically over the last few years, and we foresee the same for stock footage.

Shutterstock was the first online stock image agency to venture into the online stock footage market. It was a natural progression for us and enabled footage clients to benefit from both Shutterstock’s method of sourcing worldwide talent for content, as well as its affordable price structure.

On the contributor end, Shutterstock has created a market for a wider range of videographers - from seasoned professionals to talented hobbyists, giving them the opportunity to make their clips available to buyers globally.

On the buyers’ side, our clips serve new markets such as producers of corporate videos, music videos, PR videos, web content and smaller budget film projects, as well as offering an alternative to traditional stock footage buyers.

As companies in the digital video business inevitably face smaller budgets and tighter deadlines, it is crucial to provide them with a solution both simple and affordable.

What’s the future for Shutterstock?

We plan to continue reaching out to new buyers and recruiting new submitters, for both our image and footage offerings. We are working on a number of innovations to further extend the benefits of using Shutterstock for both these parties. We currently offer members a monthly newsletter, free images of the week and an archive of tips and tricks for graphic designers.

We are also preparing for our next major milestone – our 10 millionth royalty-free image.

In ten years time, how do you imagine image libraries will work?

We envision fewer sources selling a wider range of media, as well as a number of niche organisations specialising in particular sectors or subjects.

Would you ever consider creating a phone application, so people could search and receive images on the move?

That’s definitely an interesting idea. As mobile devices become increasingly powerful, this could become a real possibility.

If you’re keen to find out more information about Shutterstock and fancy making some extra pocket money from your images, visit www.shutterstock.com.