Quiz: 20 Questions To Test Your Photo Business Knowledge

Twenty questions to test your knowledge of the photo licensing industry and its future potential.

1 – What is Jim Pickerell’s estimate of the gross revenue generated, worldwide, in 2009 from the licensing of still images and illustrations (not including video)?  

2 – Approximately what was the gross revenue, worldwide, in 2009 generated by those companies that license rights to imagery at microstock prices?

3 – What was Alamy’s gross revenue for 2009? 

4 – At the end of 2007 (before the recession) Goldman Sacks estimated that Getty Images revenue from Creative Stills licensing (RM and traditionaI RF) would decline by what percentage by 2012?   

5 – Currently, what’s the average price of a microstock license? 

6 – How many of Lise Gagne’s images have been downloaded by customers since she began licensing images through iStockphoto in April 2003?

7 – In the U.S. what percentage of images selected for new textbook projects come from microstock sources?

8 – In the U.S. what percentage of classrooms will have interactive electronic whiteboards by 2011?   

9 – According to Decision Tree Consulting in the U.K. what percentage of classrooms, worldwide, will be equipped with interactive electronic whiteboards within the next four years?   

10 – According to Clayton Christensen of the Harvard Business School by 2019 what percentage of high school courses in the U.S. will be consumed over the Internet? 

11 – What are “Learning Objects”?  

12 – According to the Publishers Information Bureau in the U.S. how many ad pages were lost in 2009 compared to 2008?

13 – What is the percentage of decline in staffing at the news magazines Time and Newsweek since 1983?     

14 – According to the Newspaper Association of American what has been the percentage of decline in advertising revenue since its peak in 2005?

15 – How many short form videos to promote small businesses is TurnHere producing per month?     

16 – Worldwide, how many freelance videographers does TurnHere have under contract?

17 – How many agencies have placed their images in the PACASearch database?

18 – Do online news consumers click on online ads?  

19 – By 2013 “after the economic recovery” how will ad revenue for the three elements of old media — newspapers, radio and magazines – compare with ad revenue in 2006?

20 – What percentage of the New York Times total advertising revenues comes from online advertising?

ANSWERS

1 – Answer: $1.45 billion.

2 – Answer: $400 million  (28% of total stock revenue)

3 – Answer:  Approximately $23 million (a 27% decline from 2008)

4 – Answer:  38%   ($561 million in 2007; $348 million in 2012)

5 – Answer: In the range of $6.50 to $7.50.

6 – Answer: over 1 million

7 – Answer: 30% and growing

8 – Answer: 17%

9 – Answer: 20%

10 – Answer: over 50%

11 – Answer:  Short multimedia presentations used in education that will replace still images to a great extent. Textbook publishers are beginning to focus on producing electronic “learning objects” rather than printed books. Learning objects are short elements that might be used as one small part of a lesson rather than as a full curriculum. They will give school systems and instructors flexibility in choosing the teaching resources they need.

12 – Answer: 59,823 pages, or 25.6% of total pages in 2008.  (In Q1, 2010 were down another 9.4% compared to Q1 2009.)  Magazine ad revenue dropped 17%. This must mean that they charged advertiser more as the publications got smaller.

13 – Answer: 47%.

14 – Answer:  44.2% from more than $49.4 billion to less than $27.6 billion in 2009.  Loss since 2007 – 43% with a decline of 26% in 2009.

15 – Answer:  1,000

16 – Answer:  8,000

17 – Answer: 61 (almost 71 million images)

18 – Answer: In a recent survey 79% or respondents say they rarely, if ever, click on an online ad beside new content.

19 – Answer:  Veronis Suhler Stevenson, a private equity firm whose investments are exclusively concentrated in the Media industry, projects that by 2013, after the economic recovery, three elements of old media — newspapers, radio and magazines — will take in 41% less in ad revenues than they did in 2006.

20 – Answer: Total advertising revenue for the New York Times rose to 26 percent in the first quarter of 2010, up from 20 percent in the year before and 23.5 percent in the third quarter of 2009.

About the author

PhotoLicensingOptions.com is an online information resource for stock photographers. We look at photography as a business, not as an art form. We try to help readers understand what they need to do to earn more from the pictures they produce, rather than tell them how to take better pictures.

Stories are aimed primarily toward those seeking to earn their living from their stock images, but part-timers whose only interest is to earn a little extra money from their photographs will also find many of the articles useful. Jim Pickerell, editor and principle writer of the articles on this site, has been in the stock photo business for more than 45 years and writing about the industry for over 20 years. A small fee is charged to read most articles on this site. However, a FREE email with brief summaries of the latest stories is sent to all interested parties each Saturday. Readers are only asked to pay when they want to read a story in its entirety.