In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Stock Images and Videos Market Report
NEW YORK, Oct. 1, 2020 /PRNewswire/ —
Read the full report: https://www.reportlinker.com/p05482345/?utm_source=PRN
The stock images and videos market by revenue is expected to grow at a CAGR of close to 5% during the period 2019–2025.
The global stock images and videos 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 following factors are likely to contribute to the growth of the stock images and videos market during the forecast period:
• Animation Production Becomes Super-Priority
• Blockchain Technology Making Inroads
• Social Issues Trump Mindless Consumerism
• AI and ML in Stock Content
The study considers the present scenario of the stock images and videos market and its market dynamics for the period 2019?2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
GLOBAL STOCK IMAGES AND VIDEOS MARKET SEGMENTATION
This research report includes a detailed segmentation by End-users, Product, License, Source, Application, Geography. 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.
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.
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.
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.
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.
• Films & TV Producers
• Media & Publishing Companies
• Businesses and Individual Creators
• Stock Images
• Stock Videos
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.
• North America
o South Korea
o New Zealand
• Latin America
• Middle East & Africa
o Saudi Arabia
o South Africa
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.
• Adobe Stock
o Business Overview
o Product Offerings
o Key Strengths
o Key Strategies
o Key Opportunities
• Getty Images
• Visual China Group (VCG)
Other Prominent Vendors
• Business Overview
• Product Offerings
• Key Strategies
• Key Strengths
• Agence France Presse (AFP)
• AP Images
• Can Stock Photos
• Death to Stock
• East News
• The Mega Agency
• PR Photos
• Redux Pictures
• Reuters Images
• SilverHub Media
• SuStock Videotock
• NHK Video Bank
• Nippon News
• Motion Array
• ZUMA Press
Key Questions Answered:
• What is the expected market size of the global stock images and videos market in 2025?
• What are the factors impacting the growth of the market?
• What are the drivers, trends, and restraints in the market?
• Who are the leading vendors and what are their market shares?
Read the full report: https://www.reportlinker.com/p05482345/?utm_source=PRN
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