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Photo Studios and Commercial PhotographyPublished by: First Research, Inc. Published: Jun. 2, 2008 - 11 Pages Table of Contents
AbstractThe photographic services industry in the US includes about 14,000 companies with combined annual revenue of $7 billion. Large companies include PCA International, CPI Corp, Lifetouch, and Olan Mills portrait studios, and Getty Images and Corbis commercial services. The portrait studio segment is concentrated with the four largest companies holding a third of the market. The commercial segment is highly fragmented: the top 50 companies hold less than a quarter of the market. While a few companies have annual revenue well over $100 million, most are small, with revenue under $500,000.The transition from film-based imagery to digital photography and the associated technologies now available to the industry and its consumer base have revolutionized the industry in recent years. COMPETITIVE LANDSCAPE Demand is closely tied to consumer income and corporate marketing activity. The profitability of individual companies depends heavily on effective marketing. Large companies have economies of scale in marketing and production. Small companies can compete effectively by offering specialized services or holding favorable locations. The industry is labor-intensive: average annual revenue per worker is $75,000 for portrait studios, $120,000 for commercial firms. PRODUCTS, OPERATIONS & TECHNOLOGY Major products are family portraits and images for corporate advertising and marketing materials. Portrait studios account for 70 percent of industry revenue. Peripheral sales (frames, albums, and related products) make up less than 5 percent of total revenues. Family portrait companies specialize in just one segment of the industry, while ... Get Full Details About This Report >> |
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