The Economics of Everyday Things 65. Stock Photos
Sep 30, 2024
Yuri Arcurs, CEO of PeopleImages and a leading stock photographer, shares his insights on the dynamic world of stock photos. He discusses how the industry has evolved from elite services to accessible resources for all, navigating the complexities of market trends and consumer demand. Yuri explains the meticulous process needed to create authentic imagery and the growing importance of diversity in model selection. With AI changing the landscape, he emphasizes the essential role of human creativity in photography and the often-overlooked economic impact of stock images.
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From Psychology Student to Stock Photo Tycoon
- Yuri Arkers, a psychology student, started selling stock photos on Shutterstock to make money.
- He quickly found success, earning $40,000 a month within two years, leading him to pursue stock photography full-time.
Stock Photo Agency Payout Structure
- Stock photo agencies use complex tier systems and royalty structures, making it challenging for photographers to earn high payouts.
- Consistent uploading is necessary to climb the tiers and achieve better royalties, creating a competitive environment.
Staying Ahead of the Curve
- Avoid simply replicating popular stock photos; focus on anticipating trends and visualizing abstract concepts.
- Consider current events and imagine images needed to illustrate articles about those topics.