|Last Quarterly Update:||10/7/2013|
|SIC Codes:||7221, 7335|
|Industry Overview||Trends & Challenges||Industry Forecast|
|Quarterly Industry Update||Call Prep Questions||Website & Media Links|
|Business Challenges||Financial Information||Glossary & Acronyms|
Companies in this industry provide services such as commercial and industrial photography, portrait photography, and special events photography. Major companies include portrait studios Lifetouch and Portrait Innovations and commercial photo services Getty Images and Corbis (all based in the US), as well as 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 18,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $6 billion. Challenges for the industry include increased use of digital photo technology by consumers and pressure on corporate marketing spending.
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 percent of revenue.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products are family portraits and images for corporate advertising and marketing materials. Portrait studios account for about 75 percent of industry revenue; commercial ...
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