John Oringer: “Microstock Video (Footage) on Shutterstock”
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I’d like to present an interview with John Oringer. John Oringer is an iconic figure in the world of stock photography. This relatively young man, who enjoys photography, tennis, and skiing, is currently the CEO of Bigstockphoto, a position he has held since August 2009.
In this interview, John Oringer shares his insights on the future of microstock video, also known as footage. Now, let’s dive into the interview:
John, how do you assess the market size of microstock video compared to microstock photography?
When comparing the two, the microstock video (footage) market is much smaller. At the same time, the footage market is growing rapidly and has great potential, similar to how photography did a few years ago.
Compared to the traditional video market, does microstock footage open up an entirely new market (as it did with photos)?
Yes, the popular stock agency Shutterstock was one of the first online stock agencies to introduce video licensing sales. This enabled customers interested in purchasing clips to enjoy the benefits of working with our agency – we offer high-quality works by talented creators from all over the world at affordable prices.
As photography became more accessible to budget-conscious clients, Shutterstock provided buyers with the opportunity to download a large volume of microstock videos without worrying about price or the various restrictions sometimes imposed by traditional agencies.
Regarding contributors, Shutterstock created a fantastic market for a broad range of videographers, from talented amateurs to seasoned professionals, giving them the chance to offer their clips to buyers worldwide.
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?
There will always be demand for Rights-Managed content, but the shift of buyers to sites selling Royalty-Free clips, such as the stock agency Shutterstock, occurs because most clients are interested in high-quality, affordable, curated clips that are ready 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 buyer range is vast: from news editors and web designers to global commercial entities. It’s safe to say that demand for clips ready to be placed online is quite high.
What is the average clip length on Shutterstock? Are there minimum/maximum duration requirements (in minutes)?
We have no such restrictions, although most clips submitted by our contributors are no longer than one minute.
What’s the average cost of a microstock clip sold on Shutterstock?
Individual clips on Shutterstock are priced between $10 and $50, with subscription prices starting at $269 for 10 SD-resolution clips.
Does Shutterstock already offer clips with musical/sound accompaniment?
To avoid copyright infringements, none of our clips include musical accompaniment, but many of them do come with a sound track.
How many video contributors sell their work on Shutterstock?
Shutterstock’s contributor base includes over 100,000 users (as of 2008). This number includes photographers, videographers, and artists. By registering on Shutterstock as a contributor, you can automatically upload photos, vector images, and videos to start earning.
The number of video contributors on Shutterstock has been steadily increasing since 2006, when we launched our video sales service. Currently, Shutterstock accepts over a thousand footage submissions per week.
