Originally posted by k10dbook For a while now, I have been watching what the Professional Photographers are doing. (snip)
At the bottom of the industry, the picture may indeed look bleak. Things are getting tough for wedding photographers working out of their homes or small studios with only a minimal of equipment. The same with local advertising photographers, independent (freelance) news or publication photographers, and perhaps even stock photographers. Some markets are now simply satuated without room for anyone else. At the same time, the photography service industry, as a business, is growing up, with customer expectations growing with that. And I don't believe one can directly blame digital photography for either of those.
That said, the future is not bleak for all. While this trend might hurt the small guy and push out some riff-raff, future businessmen (and it is a business) willing to invest in offering more comprehensive services at competitive prices will likely see increases in both customers and profits. And, of course, there will always be a demand for photographers able to deliver predictable results with minimal risk of failure.
The market at the other end of the industry (national publications, top advertising clients, etc), where reliable results with minimal risk for the client is the norm, appears to be growing. For example, photographers working for national publications (sports, news, etc) are earning more than ever before. And there are more commercial clients using more photographs then anytime in the past I'm aware of.
Since my business focuses on advertising and industrial photography, I can perhaps speak best about the latter. My client base (and profits) have been growing every year over the last decade. Online internet businesses now account for about ten percent of that, without any effort to seek those and being rather harsh at turning most away. And traditional clients, still the bulk of my business, are purchasing more images and paying more for those images.
I decided to semi-retire last year, cutting back by selling some investments and referring less-profitable clients to associates. This freed me to focus more on my core clients, allowing me to earn higher profits on each sale. Thus, even while reducing clients (and without the sell of those investments included), I still made slightly more last year than the previous year. Associates report similar or more robust growth.
In the end, the industry is certainly changing. But I believe there will be a place for those who change right along with it. And I'm not talking about digital versus film trivia. I believe a film photographer today can be just as successful as one ten years ago or twenty years ago. Instead, I'm talking about skills and business since I firmly believe those two are the foundations to success.
stewart