John Oringer on Microstock Video (Footage)

I am pleased to share an interview with John Oringer. John Oringer is an iconic figure in the world of stock photography. A relatively young man with interests in photography, tennis, and skiing, he has been the CEO of Bigstockphoto since August 2009.

From 1993 to 1998, John Oringer studied computer science at Columbia University and at the State University of New York, specializing in computer science and mathematics. You might think, ‘So what? Many people have multiple degrees, and Bigstockphoto isn’t a significant accomplishment.’

The key highlight of Jon Oringer’s biography is that he is the founder and CEO of Shutterstock.

In this interview, Jon Oringer discusses the future of microstock video (footage) and its implications for the stock photography industry. Now, let’s dive into the conversation:

John, how do you assess the market size of microstock video compared to microstock photography?

While the microstock video market is currently smaller than that of photography, it is expanding rapidly and holds significant potential, much like photography did several years ago.

Compared to the traditional video market, does microstock footage open up an entirely new market (as it did with photos)?

Yes, Shutterstock was among the first online stock agencies to offer video licensing for sale.

This allowed customers seeking clips to benefit from our agency’s offerings: high-quality works by talented creators worldwide at affordable prices.

As photography became more accessible to budget-conscious clients, Shutterstock enabled buyers to download a substantial number of microstock videos without concern for price or the restrictions often imposed by traditional agencies.

For contributors, Shutterstock established an excellent market for videographers ranging from talented amateurs to seasoned professionals, providing them the opportunity to offer their clips to buyers globally.

Do you think there will be a significant shift of video buyers from the traditional market to microstocks? In other words, could there be a “cannibalization” effect, as we saw with microstock photography?

While there will always be demand for Rights-Managed content, buyers are increasingly turning to sites offering Royalty-Free clips, like Shutterstock, because most clients seek high-quality, affordable, curated clips available for immediate download.

Who are the typical buyers of microstock video? Is there a specific category or class of footage buyers? Are freelance web designers interested in purchasing microstock video?

Our buyers range from news editors and web designers to global commercial entities. Clearly, there’s a significant demand for readily available online clips.

What is the average clip length on Shutterstock? Are there minimum/maximum duration requirements (in minutes)?

While we don’t impose specific limits, most contributors submit clips that are under one minute.

What’s the average cost of a microstock clip sold on Shutterstock?

On Shutterstock, individual clips range from $10 to $50, while subscriptions begin at $269 for ten standard-definition clips.

Does Shutterstock already offer clips with musical/sound accompaniment?

To prevent copyright issues, our clips don’t include music, though many feature natural soundtracks.

How many video contributors sell their work on Shutterstock?

As of 2008, Shutterstock’s contributor base comprises over 100,000 individuals, including photographers, videographers, and artists.

By registering as a Shutterstock contributor, you can upload photos, vector images, and videos to begin earning.

Since launching our video sales service in 2006, the number of video contributors on Shutterstock has steadily increased.

Currently, Shutterstock receives over a thousand footage submissions each week.

This article is available in the following categories: About Microstocks, Shutterstock