Chicago, May 11, 2022 (GLOBE NEWSWIRE) — According to Arizton’s latest research report, the global stock image and video market will grow at a CAGR of 6.9% during the period 2022-2027. . Growing adoption of e-learning industry, reinvention of storytelling, growth of digital communities in the hyper-connected ecosystem, automation and personalization of content are major drivers of the imagery market and videos.
Royalty-free images are boosted by the growth of the microstock industry, royalty-free (RF) license models have become widely used. Demand has increased dramatically in recent years, with many small and medium-sized enterprises (SMEs) finding this model attractive and cost-effective, and with a host of new businesses entering the scene.
The era of instant gratification has forced brands and businesses to use short, short content. Social media is also pushing brands to create social video content to keep audiences hooked in droves and capitalize on those moments by offering new ad inventory. It also opens up new avenues for marketers to advertise and hence social broadcasts run pre-roll and mid-roll ads.
Scope of the Image and Video Market Report
|MARKET SIZE (2021)||$4.7 billion|
|MARKET SIZE (2027)||$7 billion|
|YEAR OF REFERENCE||2021|
|MARKET SEGMENTS||Product, License, Source, Application and End User|
|REGIONS||North America, Europe, APAC, Middle East and Africa and Latin America|
|COUNTRIES COVERED||China, India, Japan, Australia, South Korea, Indonesia, Taiwan, Philippines, New Zealand, Malaysia, Thailand, UK, Germany, France, Spain, Russia, Italy, Sweden, Switzerland, Belgium, Netherlands, Poland, Turkey, United States, Canada, United Arab Emirates, South Africa, Saudi Arabia, Egypt, Nigeria, Brazil, Mexico, Argentina, Colombia, Chile and Peru|
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Blockchain Technology Makes Breakthroughs
Content providers can earn higher profits, use a single solution to manage all of their portfolios, and work with exclusive RM licenses, thereby increasing royalties. At a higher level, it will reduce middleman involvement, increase profits for photographers, and reduce consumer spending, while being able to provide a wide range of product opportunities. Additionally, to ensure copyright protection, players such as Kodak, Binded, ImageRights, and Ascribe aim to use written image hashes to distribute a registry that will give an indisputable record of intellectual property.
The technology-driven future is creating new realities in the business-consumer paradigm. It’s changing the way consumers buy, work and play. As a result, new content consumption formats are emerging. Traditional advertising revenue that mandates the use of images is gradually disappearing and being replaced by digital storytelling tools such as videos, photography, drone photography and interactive graphics, creating more engaging communication.
From harmonizing visuals by combining text, graphics and video to using entirely new formats, companies are turning to immersive storytelling using 3D, cinemagraphs, panning, 360°, hyper-lapse, timelapse, aerial and GIFs. Marketing creatives and journalists show a strong propensity to use this format to relay communication to consumers. Since the technology has become more advanced and accessible, photographers are showing a strong appetite for them as they help earn higher commissions than regular stock images.
- The market was driven by demand generated by stock images globally. However, due to the growing penetration of OTT platforms and cinematography, the demand for stock videos is expected to witness a higher CAGR during the forecast period.
- Conversely, there was a lot of dynamism in the market. Amid the pandemic, there have been a series of acquisitions by private equity firms as they seek to capitalize on trends such as the shift to digital, online gaming, mobile media and opportunities presented by social media favoring the market in the coming years. For example, private equity firm EQT acquired Freepik and Great Hills Partners acquired Storyblocks.
- On September 7, 2021, Shutterstock announced the acquisition of PicMonkey, a graphic design and image editing software. The acquisition is expected to complement Shutterstock’s content subscriptions and expand its audience reach. On October 26, 2021, Shutterstock introduced Flex 25 Plan + Creative Workflow Tools. This is a media subscription for individual users that allows downloading of stock images and stock videos indiscriminately.
- In 2021, revenue from macrostocks dominated the global market, accounting for over 60% of total revenue.
- Global RM images and videos hold the largest share in 2021 and are expected to reach over $4 billion by 2027, growing at a CAGR of over 6% during the forecast period.
- 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 pose significant risks for vendors in the market. Many of these agencies offer all-you-can-eat subscriptions to drive volume and, therefore, revenue growth.
- Royalty Free (RF)
- Rights Managed (RM)
- Final user
- Television and film producers
- Media and publishing companies
- Professional and private creators
The image and video market in North America expected to reach $3.10 billion by 2027
In recent years, due to large investments in Internet advertising, North America has become one of the major advertising markets. As a result, demand for online advertising services such as Google Ads, which display advertisements on websites and YouTube videos, is gaining momentum. About 45 of the world’s 100 largest advertisers have a strong presence in North America, which accounts for more than $130 billion in ad spend. Hence, this region creates lucrative opportunities for the vendors in the global market.
The US stock footage and video market is a mature market, and the demand for stock footage has always been driven by the presence of most global brands in the country. For example, Amazon wanted to increase ad sales from its platform, expanding its efforts by adding video and search products to its portfolio, and entering into partnerships with third-party technology companies.
- Getty Images
- China Visual Group
- Adobe Stock
Other Important Suppliers
- France Media Agency
- AP pictures
- List of artists
- Can store photos
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