Oliver - Stock photography residual income with your digital camera

Thanks to My Kids and Grandkids who give me so many photographic moments

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Table of Contents

Hello and welcome to the world of selling Stock Photography. Thanks to the internet it is now possible for hundreds of people just like you to make really good money using your digital or film camera. Even if you have only just received your camera as a present and have no idea on how to use it this book will step you through everything you need to know about taking pictures, uploading them to your computer, and from there onto the Internet. The Internet is your key to making money both through sales and residual incomes.

If you dont know what I am talking about it doesnt matter because once you have read this book you will know your lighting from your shutter speed and your focus from your flash, and you will be armed with the links to countless resources for setting up your new photography business right from your own home.

How much money you make is up to you and how much time you can put into your new business. The skills you learn through this book will be invaluable to you no matter whether you want to work online full time or part time. They will be worth it for you even if you just want to upload family pictures to your own web site. However, the key focus of this book is helping you, the photographer, to make money through selling stock photos.

So lets begin.

The great thing about photography is that it doesnt really matter what you like taking photographs about as there is a market for all types of pictures. There are markets for nature shots, pictures of people, special events or even things. So lets get a few basics out of the way first.

Stock photography can be simply defined as being a store of photographs that already exist for sale to a commercial market. Photographers have a range of their pictures on a huge range of topics uploaded through a directory or their own site and they sell the various rights to those photos to customers for either online or offline use. For example you might decide to place photos you already have online with a web site that sells one-time-use rights to pictures. The joy of this type of payment is that while the amount paid can be very small (sometimes 20 cents per use) your picture can be resold and resold for as long as you like.

There is money to be made with stock photography for both the amateur as well as the professional photographer. All you need to know is the very important basics of stock photography and how to sell your photographs to be on the road to making money with stock photography.

One of the great benefits of stock photography is that the photographer has more creative freedom. When you are shooting stock photography you get to choose when and what you are photographing. When you do assignment photography you have very limited creative freedom. You are stuck with photographing when and what the client wants.

Money is another benefit of stock photography. While in the short term you may make less for your photographs than you would on assignment photography, you will make more in the long run. With an assignment photography shoot, you are creating custom photographs for a client that they will have full rights to. With stock photography, you can retain full copyrights to the image and so you can sell that one image repeatedly. This allows you to acquire a continuous stream of income from one image versus getting paid for just one upfront payment.

Now that I have shown you some benefits of stock photography, let us look at another aspect of stock photography selling models. There are three different selling models in stock photography. These models determine the way in which your images can be used and how the fees are determined for the image. There are advantages and disadvantages to each model.

The three selling models are

Rights managed (RM)

Regular royalty free (RF)

Micro-payment, royalty free

Below we will look at the advantages and disadvantages so that you can better decide which method is best for you. Some stock photographers actually diversify themselves and take part in all three selling models with select images. This gives them a broader range for making money with their stock photographs.

The Rights Managed model is also referred to as Traditional Licensing. RM images are usually purchased for more high profile projects due to the fact that they have restrictions. RM gives licensing to the image buyer for a specific reason and time line. The buyer can only use the image for the specific project outlined at the time of purchase and only for the time line given.

For RM images, fees are determined by multiple factors. One factor is the way in which the buyer plans to use the image along with the licensing term. The geographic distribution is also used to factor the fees for the image, as are the media type that it will be used in and the size of the reproduction. It is possible to make a lot of money with this type of image license even if you do not make many sales. However, the pictures you take should be of a topic that has wide public appeal or at least commercial appeal and this method is not recommended to be used on its own as a means of making a regular income. However selling just a few of these licenses can really boost your income even if you only sell a few a year.

Royalty Free images are ones where a license is given once and then the buyer may use the images in multiple projects with no time limit placed on the use of the images. There is however some restrictions usually put in the licensing agreement on how the image can be used. Buyers tend to appreciate the broader freedom that RF images offer and this can of course lead to the selling of more images when this selling model is used.

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