Brief Excerpt from Industry Overview Chapter:
Companies in this industry provide services such as commercial and industrial photography, portrait photography, and special events photography. Major US companies include portrait studios Lifetouch, Picture People, and Portrait Innovations, as well as commercial photo service Getty Images (which now owns Corbis). Outside the US, major companies include Dimension Studios (a unit of Australia-based PMP), PixiFoto (the UK), and Studio Alice (Japan).
Global spending on commercial photography is projected to reach about $11 billion by 2015, according to Global Industry Analysts. Providers of photographic services generally operate within a single country or region. In developing nations, commercial photography is still considered a nascent industry with potential for growth.
The US photographic services industry includes about 17,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $5.5 billion.
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 US photographic services industry is fragmented: the 50 largest companies generate about 40% of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products are family portraits and images for corporate advertising and marketing materials. Portrait studios account for about 70% of industry revenue; commercial photography for about 30%.
Family portrait companies specialize in just one segment of the industry, while many commercial firms also produce...
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook