Industry Analysis & Industry Trends
Not so picture perfect
The industry relies heavily on demand from downstream advertising firms. Declines in corporate profit and advertising expenditure severely hurt the industry during the recession. Since then, both corporate profit and spending on advertising have increased, helping both industry profit and revenue rebound. However, advances in camera technology have been hindering the industry and will continue do so. Due to these technological changes, external competition for the industry is set to increase and impede demand for commercial photo libraries over the next five years.... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to entry in the Commercial Photo Libraries industry are low, enabling new firms to easily enter the industry. Likewise, competition is high. New digital technology has made it cheaper and easier for companies to distribute their products, decreasing barriers to entry over the past five years.
Companies entering the industry do not need to hold any formal qualifications or accreditation; companies just need to establish a means for distributing and displaying their photo libraries. Additionally, regulation in the industry is light and costs are not prohibitive.
Companies wishing to enter the industry must overcome incumbent firms that have developed a reputation for a large collection or great quality... purchase to read more