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!