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Messages - PhotoWorkout

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Thanks for the suggestions and advice given in this forum! Microstock Group members have been very helpful to craft this little guide book.


Then it should be free for MSG members, shouldnt it?

We made the eBook FREE until 27th April 2016 (only on Amazon) >> https://photoworkout.com/club/1k-stock-photography/

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Hi there!

We have been researching a lot on how to make your first $1,000 with Stock Photography.
 
We have put it all together in a PDF eBook and you can get a copy here: https://photoworkout.com/club/1k-stock-photography/

Thanks for the suggestions and advice given in this forum! Microstock Group members have been very helpful to craft this little guidebook.

UPDATE 21 September 2017: Thie eBook is now FREE here https://www.photoworkout.com/free-stockphoto-ebook
(you just need to subscribe to our free newsletter and you will get a free copy of the eBook delivered to your inbox).  :D

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iStockPhoto.com / Re: Uploading to iStock Is About To Get Easier
« on: January 26, 2016, 21:40 »
Do you have an indication what keywording and retouching an image is going to cost?

E.g. www.picworkflow.com costs like 20 Cent for keywords / image (just for keywording).

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MicroStock Photography has so far had some positive effects on me:
  • I end up organizing my picture folders (systemize, delete bad pictures, categorize, rate and keyword them
  • I became more attentive to what marketing agencies and companies want (understanding of marketing and consumer behaviour)
  • I learnt about resolution, how to avoid noise in images, image composition and more tips and tricks on how to make good images
  • There is a certain "feel good factor" when uploaded pictures are being approved, but this satisfaction may not last long without an extrinsic motivation (getting paid first $ for the uploaded images. So far it is $0)

Few thoughts on the economics of Microstocks:
  • So far it has been very time consuming to add keywords, descriptions and upload images (even just a few)
  • There seem to be "super professional" stock agencies out there (e.g. Yuri Arcurs having a staff of 100+ people in South Africa) - they have made good money and are now diversifying (e.g. audio production, owning their own image distribution platforms etc.)
  • It seems to be a 4% / 96% industry, where 4% of the Photographers make 96% of the sales. Based on Pareto's 80/20 Rule.
  • It is probably not worth your time unless you can go full time, invest in a studio, models, assistants, equipment so that you can break into the 4% of top performers to reap a chunk of the 96% sales.

If I am wrong and there are hobby photographers out there who started recently and are making few hundred bucks a month (and have fun doing it), please let me know. I still like the idea of submitting some 200-300 images a year and reaching some point where the images can finance new photography gear (I am not expecting a full time income).

Thanks for all the great comments and feedbacks so far! This forum has been really helpful!

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Thanks for the valuable insights and tips!

I am a hobby photographer (with some DSLR shooting & Lightroom experience) and new to stock photography.

I think I am starting to understand the most important metrics (investment in gear, time needed per image and average payout per image).

I am however missing one of the key metrics: How many times is a stock photo (on average) purchased over its lifetime?

Is it safe to assume that for an enthusiast photographer the average number of downloads per image is 5?

Some may reach 50 or even 100+ downloads, but some or bulk of the photos will not sell at all or just 2-3 times.
 
Is 5 downloads on average per image as "lifetime" download too low or high?

I can see the benefit of becoming a better photographer when submitting stock photos to agencies.
But it would be nice to understand the possible income from stock photography and if the initial hard work and patience would ultimately also pay off financially (as a part time / side job). 

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What would be your most important advice to somebody new in Stock Photography? (E.g. Which type of Photography to focus on, where to submit, what gear to buy)

And how long do you think it will take a newcomer (with basic photography skills and DSLR equipment) to make the first $1,000 selling photos online?


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Thank you for your replies to this question!

I guess it is safe to assume that the range per download is from $1.03 to $1.63 and averages around $1.33.



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I am trying to understand how much some of the most downloaded images on Dreamstime are making.

Example:
  • Downloads as on January 3, 2016: 758
  • 10% buy using the credit system: earning per download $9.79 * 76 downloads = $744
  • 10% Subscription All-at-once: $2 * 76 = $152
  • 80% Subscription daily dose: $0.35 * 606 = $212
TOTAL Estimated Earnings: $1,108 (or $1.46 per download)

Do you think an estimated average earning of $1.46 per downloaded image on Dreamstime is correct?

Update: the eBook with earning estimates is now free and can be downloaded here.

Thanks,

Andreas

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