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Author Topic: Blockchain is Conquering Global Stock Image Market  (Read 645 times)

Offline Goodcat49

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Blockchain is Conquering Global Stock Image Market
« on: March 16, 2018, 02:31:57 PM »
As our communication gets increasingly visual, the global stock image market is turning into a busy place.

Just recently 500px, a large and promising community of photographers, has been acquired by VCG, a Chinese image licensing giant that is slowly taking over the market in Asia and beyond, following a long-established trend for industry consolidation that doesn't necessarily benefit content creators. In 2016, VCG took over Corbis in a similar expansive move, leaving a subsidiary citizen photojournalism agency completely in the dark regarding their due royalties for over a year. VCG claimed their trouble was due to lack of ownership data, as they were unable to match images to their creators. The old ways of managing visual content have not only been proven inefficient — they've also been used as shady excuses.

While some stock agencies do make use of technologies like AI or data analysis, major players still compete by means of brute expansion, not innovation. This strategy may look good on yearly reports, but it is unlikely to hold up in the future as it tackles the currently irrelevant problem of supply. Unlike in the days of film photography, visual content is now overabundant and tremendously diverse. Ultimately, competition will revolve around smarter tools that solve modern problems like poor discoverability, lack of sales insights or transaction inefficiency. That is why network and data management will be a critical survival skill in the stock image industry of the future, and we are training it early on by connecting existing platforms into the IPStock ecosystem.

Serving a Growing Community
A growing number of Internet users all over the globe means that companies involved in the chain of media distribution need to be prepared for a sweeping wave of new content creators and consumers. Accessible hardware and internet connection are heating up the demand for visual content, which calls for a robust, flexible, easily scalable, and inherently redundant system.

Where Internet connection is already omnipresent, media and brands are striving to develop a personal and authentic visual language. These consumers will have no use for commoditized stock images, instead turning to custom solutions or smaller agencies for distinctive content and direct contact with authors. These meticulous users will hardly ever dive into the giant sprawls of generic disorganized images — this audience is out of reach for a typical bloated and uninventive stock agency. But they will most likely give a platform a try if it serves as a direct gateway to unique creators, aggregates multiple databases, automates the transaction routine, and provides abundant licensing data.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/blockchain-is-conquering-global-stock-image-market/


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Blockchain is Conquering Global Stock Image Market
« on: March 16, 2018, 02:31:57 PM »

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