pancakes

MicrostockGroup Sponsors

Envato Elements

Author Topic: Global Economic Slowdown Ahead  (Read 1727 times)

0 Members and 1 Guest are viewing this topic.

Uncle Pete

  • Great Place by a Great Lake - My Home Port
« on: January 16, 2019, 07:24 »
+1
I put this in off topic but I think some people here might have opinions on how or incomes are connected to the global economy.

Basic observation, if the world economy drops, the need for our work will also drop. Production and gains have slowed in some major countries. Metal prices have fallen. I don't want to swing over to the doom side, but I just wanted to point out, the people who download and license our images, depend on the rest of the economy to drive their business.

Opinion: A slowdown for the global economy would mean a slowdown for our earnings.

Anyone have a different view or anything additional?


« Reply #1 on: January 16, 2019, 08:34 »
+4
They say history repeats itself, but with regard to microstock I'm not sure that is the case.  The last downturn in the world economy in 2008 was a time of growth for microstock in the ever expanding world of the internet. It may also have benefited from the downturn in that there was a move away from more expensive licensing operations with increasing quality in microstock.  I cannot see that in another downturn that microstock would gain any of the benefit that may have done last time.

Brasilnut

  • Author Brutally Honest Guide to Microstock & Blog

« Reply #2 on: January 16, 2019, 09:58 »
+2
Isn't that one of the justifications that the Alamy boss mentioned for dropping our income 20% (brexit, slowdown...). So, in effect, we're already feeling the downturn.

« Reply #3 on: January 16, 2019, 10:25 »
+4
Isn't that one of the justifications that the Alamy boss mentioned for dropping our income 20% (brexit, slowdown...). So, in effect, we're already feeling the downturn.
It was a justification....not the reason though

« Reply #4 on: January 16, 2019, 11:33 »
0
If there a recession is coming some people will lose their jobs. So they have more time to produce stock images. The number of uploads could increase. If this happens some Russian stock producers will think 5000 images a month won't be enough and will produce 6000 images a month.
This could lead to a declining RPI. Stock producers are smart people - so declining RPI needs more images and increase their production.
The next recession will be a great time. We will see the most productive stock producers ever, breaking every month a new stock production record.
 

« Reply #5 on: January 16, 2019, 17:44 »
+1
You might also say that people who previously commissioned photoshoots will now start buying microstock as their budget tightens, so who knows. The way they tinker with search on SS for example has far bigger and far more sudden effect than an economic slowdown.

« Reply #6 on: January 17, 2019, 06:42 »
+2
No matter the situation, there will be a need to film somehow the events good or bad or even extreme... I am a newbie of couree in stock but working video for some years there was always a market for everything offered speaking on events and news.
Furthermore, not only production houses will need footage or images, youtubers, millions of them as more as youtube will strict the rules will be bound to make or buy images graphics videos and audio. Sounds like good news :)

Sending this message from Greece as you know the county's economics are bad. Crisis etc. But. I watch people on forums already selling XT3 or GH5 bodies, even Parrot Anafi Work drones used. What I am tryimng to say is that there will be always oportunities and people havbing their meal whatever the politics or economics situations are...

« Reply #7 on: January 17, 2019, 07:25 »
+4
I don't worry about what I can't control, I focus on what I can do.

« Reply #8 on: January 17, 2019, 07:45 »
+3
I don't worry about what I can't control, I focus on what I can do.
That's a good philosophy but what you choose to do can be influenced by what you think will happen. For example I am less likely now to go out and buy new equipment or hire expensive models than I was 5 years ago. So I think its worth considering future demand/market trends and reacting to them. I'm not sure though the effects of an economic downturn unless its huge is one of the most significant factors.

« Reply #9 on: January 17, 2019, 15:15 »
+1
I see it as an opportunity for themes dealing with an economic downturn.

For instance people might do more things themselves again, cooking, cleaning, repairing their clothes instead of buying new ones. Or even making your own clothes again or reworking your parents clothes.


Downsizing to smaller apartments and homes, selling things you dont need, even more young people or couples moving back in with their parents, elderly people looking for all kinds of jobs, because low interst rates have killed their retirment saving plans.

More people growing their own food, maybe even on their balconies. People going to food banks etc...

But maybe also with a positive spin of people putting more effort back into volunteering and community work instead of consumerism.

There are so many themes you can illustrate and shoot that are helpful - creative, but very affordable healthy meals, how to make toys yourself, overall much bigger focus on home life with friends and family instead of going out for entertainment...

If you have the right content, I think it can work well.

Less demand for luxury glamour shootings maybe, more ethical consumerism.

« Reply #10 on: January 17, 2019, 18:28 »
+2
The economy is driven as much, if not more, by small business as it is the stock market. If there is a downturn it's more likely that businesses will advertise more rather than less. They will try to get as much from their advertising dollar as they can though so they'll look to get low cost source material for ads.

Where could buyers go for inexpensive imagery for advertising? Hmmmm.

« Reply #11 on: January 17, 2019, 18:44 »
+2
The economy is driven as much, if not more, by small business as it is the stock market. If there is a downturn it's more likely that businesses will advertise more rather than less. They will try to get as much from their advertising dollar as they can though so they'll look to get low cost source material for ads.

Where could buyers go for inexpensive imagery for advertising? Hmmmm.
This is a good point. I think more people could start to use microstock if they cannot afford a private photographer or expensive ad campaigns.

Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #12 on: January 18, 2019, 10:36 »
+1
Interesting views, I hope that the optimists are right and less demand, less customers, eventually means we sell more, because the ones that do need illustrations and photos, will be seeking more economical solutions.

I don't worry about what I can't control, I focus on what I can do.

Exactly why I don't care what some agency has for rules for getting to be a contributor or what their review standards are. Not my business, beyond any of my control. I also can't worry about what's next from some smaller places that are likely to go under. Most are honest enough to pay contributors, but some just shut down.

Maybe this predicted (not by me, I'm just reading) means more of the parasite agencies will finally go away, and we'll all get more business from the bigger established outlets.


 

Related Topics

  Subject / Started by Replies Last post
4 Replies
2034 Views
Last post April 07, 2007, 11:48
by madelaide
9 Replies
3489 Views
Last post August 30, 2008, 15:00
by astrocady
26 Replies
6806 Views
Last post September 28, 2008, 21:41
by RacePhoto
1 Replies
2113 Views
Last post September 11, 2010, 07:46
by cathyslife
6 Replies
5031 Views
Last post March 17, 2011, 16:58
by louoates

Sponsors

Microstock Poll Results