Stock Images and Videos Market

Market Overview

The global stock images and videos market size was valued at USD 4.99 billion in 2022. It is estimated to reach USD 8.98 billion by 2031, growing at a CAGR of 6.75% during the forecast period (2023–2031).

Increasing penetration of animation production, growth of platform integrations, a rapid shift to vertical formats, blockchain technology making inroads, increasing penetration of AI and ML in stock content, social issues overtaking mindless consumerism, and mobile stock losing its luster are some of the rising trends in the market for stock images and videos.Stock photography comprises already-made images that may be licensed for usage in various ways. At the same time, the author keeps ownership of their work by paying fees to both the artists who developed them and the stock agencies who manage them. Stock images are an excellent resource for obtaining inexpensive, high-quality photographs for various design projects.

They are ideal for marketing and advertising, promotional work, personal or professional creative endeavors, publishing, websites, and blogs, among other applications. Stock footage (also called "stock video") is shot solely for licensing to a creator for use in another endeavor. Frequently, artists create stock footage without a particular project in mind. They attempt to appeal to as many consumers as feasible. This footage can be as broad as an establishing image of a farm, historical moments, or natural disasters or as specific as graphic overlays such as light leaks and film grain, viral videos, or looping background animations.

Market Dynamics

Global Stock Images and Videos Market Drivers

Growing E-Learning Industry 

Several educators and learning service providers consider incorporating stock photos in the design of their e-learning deliverables. The experts who provide e-learning services use these stock images to create engaging, interactive, and effective courses for their students. This has boosted the demand for stock images and videos to some extent from the e-learning industry.

With smartphone unit shipments expected to grow at a CAGR of 42% and mobile computing devices by over 18% during 2018–2024, the market for e-learning products is only expected to grow worldwide. In the upcoming years, market growth will probably be positively impacted by the emerging nations' quick increase in internet connectivity, fueled by expanding federal expenditures. This, in turn, is eventually expected to boost the demand for stock images and videos.

Social Shows Sustain Buzz in Stock Content

The era of instant gratification has compelled brands and businesses to use bite-sized and short-form content. Made-for-social programming and video streaming have become popular due to the thrill of novelty they offer. Social networks are recording passive behavior among consumers wherein they catch up on the news, look for entertainment during in-between moments, and watch videos to kill time.

Furthermore, on-demand video streaming has exploded internet accessibility, penetration of smartphones, and the prominence of instant deliveries. Following the success of certain shows such as House of Cards, 13 Reasons Why, and Stranger Things, the number of titles that Netflix, Hulu, and Amazon offer has multiplied over the years. All these content formats have opened new ways of telling stories via episodic series. Thus, such factors boost market growth.

Global Stock Images and Videos Market Restraint

Unsustainable Business Models

The current stock photos and videos market structure lacks transparency. The models lack future-proofing capabilities. Large and established companies control most of the market and are driven by a model where contributors are exploited. This has commodified and devalued the industry, destroying the integrity of the business side of taking and selling pictures. The lack of elasticity is among the strongest reasons for the model's failure and the market's slow growth.

Global Stock Images and Videos Market Opportunities

Rising Penetration of OTT Platforms Boosting Demand for Stock Footage 

Since the onset of the COVID-19 pandemic, there has been a substantial surge in the demand for internet entertainment content. Several factors during the pandemic's peak, such as travel restrictions, canceled shootings to avoid virus spread, and closure of movie theatres, have led to a significant shift of audiences and filmmakers to over-the-top (OTT) platforms.

The OTT usage is projected to rise to USD 190−200 billion, and pay-TV subscriptions will decline in the coming years. About 65−71% of the demand for stock footage was derived from OTT platforms. All such factors reflect that the rise in the demand for stock footage is being significantly derived from OTT platforms during the COVID-19 pandemic due to WFH and shooting constraints. Therefore, the rising shift to OTT platform content is expected to further provide significant opportunities for market vendors, fuelling the revenue generated from the overall stock images and videos market during the forecast period.

Regional Analysis

Based on region, the global stock images and videos market is bifurcated into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.

North America Dominates the Global Market

North America is the most significant global stock images and videos market shareholder and is anticipated to exhibit a CAGR of 6.76% during the forecast period. North America is currently one of the largest advertising marketplaces due to the expenditures made in Internet advertising. As a result, the demand for online advertising services such as Google Ads, which help house commercials on websites and YouTube videos, is increasing. Apart from that, brands are now spending on advertisements on social media platforms such as Facebook and Instagram due to the large population.

In addition, Internet advertising takes up the biggest share of ad spend and is the fastest-expanding medium in the region, while newspapers are witnessing a drop in newspaper promotions. Over the past six years, North American advertising has increased dramatically, largely due to cyclical events like the Olympics and elections. Technology has undoubtedly driven the market and changed the marketing industry. Thus, magazines and newspapers are considering new survival tactics in reaction to the shift in advertising dollars to Facebook and Google.

Europe is expected to grow at a CAGR of 6.63% over the forecast period. The online shopping segment is leading Europe, with most countries sharing similar interests in travel, clothes, and household goods. While influencers are gaining ground in Spain and Italy, media companies are gaining viewership in the UK, Germany, and France. This indicates how respective countries are more likely to source their images. This bodes well for the stock image market during the forecast period. With Europe being one of the most popular travel destinations in the world, efforts are being made to invest in technology, which can make taking videos and photographs of different places convenient. The emerging trend of 360 photography also creates immersive videos that can be viewed using VR headsets. Thus, the use of technologically advanced videos is expected to rise. Travel companies and bloggers increasingly use stock videos of cities like Budapest, fueling regional market growth.

Since Asia-Pacific has a strong value orientation, stock photos and films are often more economical for creatives, but they became increasingly popular during the pandemic. Spending on non-digital/linear formats like TV, radio, print, OOH, and radio is estimated to fall soon. By 2025, social media, mobile, desktop, and online video ads will account for over 60% of all media expenditures, with mobile video and social media registering 15% growth. In addition, Asia-Pacific is characterized by strong advertising spending due to a highly active economy. A decade ago, the region was at the forefront, having achieved numerous worldwide accolades in advertising. For decades, the largest advertising agencies have established themselves in Asia-Pacific. The quickly changing media landscape fuels the region's advertisement market, boosting the regional stock images and videos market.

The Middle East and Africa is witnessing spotty growth in recent years. Dropping oil prices has led to low advertiser confidence and economic growth. Ad spending is expected to fall by 16–20% in the Middle East and Africa in the coming years. Digital advertising is expected to take up a considerable chunk of the ad spend pie, with local brands looking to target customers outside the Middle East and Africa. Print and TV are both declining.

Furthermore, influencer content is growing 2X faster than mobile and video spending, negating demand for pre-shot visual content. However, with increasing penetration of the internet and a shift in focus on a more knowledge-based society, the region is investing heavily in digital marketing using innovative tools such as theming to promote its services and products. This is increasing advertising spend and is expected to counterweight some of the drops in demand for visual content.

Segmental Analysis

The global stock images and videos market is segmented by product, source, application, license, and end-user.

Based on product, the global market is segmented into stock images and stock videos. 

The stock images contact lens segment owns the highest market share and is estimated to exhibit a CAGR of 6.52% during the forecast period. The growing visual literacy of the worldwide audience is driving the demand for stock images. Due to the rise in online transactions during the pandemic, strong visuals are becoming a requirement for the e-commerce sector. The pandemic has significantly altered the market in every marketing and advertising area. In addition, the market has witnessed notable changes, including a shift towards more flexible and cost-effective channels like programmatic advertising. This trend is driven by the increasing availability of impressions and consumer presence in these channels.

Additionally, B2B brands are increasing their digital advertising spending to compensate for lost leads during events. There has been an increase in spending on streaming services, online news outlets, and online food delivery, among other services.

Based on the source, the global stock images and videos market is bifurcated into macrostock and microstock. 

The macrostock segment dominates the global market and is projected to exhibit a CAGR of 6.20% over the forecast period. Brands seek to retain exclusivity in a market where social influence is widespread. Macrostock appears more enticing as more aspirational companies start to appear. The advent of microstock, however, has led macrostock agencies to lose their customers to the former. While these heavy hitters have firmly grounded their revenues, accounting for the largest share of the market, their growth has slowed comparatively in recent years. However, agencies such as Getty Images have leveraged their expertise and offered end-to-end custom solutions from small-scale event coverage and packages of social-first assets to full-scale productions and activations at the world's most-watched events. This is increasing the likelihood of bringing more revenues into the market.

Based on application, the global market is divided into commercial and editorial. 

The commercial segment accounts for a large stock images and videos market share and is expected to exhibit a CAGR of 6.70% throughout the forecast period. The commercial market is witnessing a shift from billboards to digital media and TV as consumers spend more time at home, translating to screen-based opportunities. Remote technology has allowed for production; hence, the commercial market stays strong. Video game sites have witnessed strong growth in traffic – for instance, Twitch saw traffic increase by 20% during the pandemic. This is both an opportunity and a challenge for the market demand for outsourced vectors and illustrations, and in-house game development has surged.

Based on license, the global market is divided into RM and RF segments. 

The RM segment is the most significant contributor to the market and is predicted to exhibit a CAGR of 6.62% over the forecast period. The need for RM images is dwindling. The major provider of this license, Getty Images, indicated in late 2019 that it would gradually discontinue its RM creative collection in 2020 to concentrate on its RF services. Although many small and mid-sized agencies provide them, the sector's growth is sluggish. The license also experienced a decline as a result of the pandemic. However, stable economic growth will drive spending on quality imagery, intensified by the need to prevent brand dilution. 

Based on end-users, the global stock images and videos market is divided into marketers, film and TV producers, media and publishing companies, and business and individual creators. 

The marketers' segment is the largest revenue contributor and is expected to exhibit a CAGR of 7.07% over the forecast period. The COVID-19 crisis accelerated some of the changes underway in the marketing industry. Digital and independent creative enterprises were starting to take market share away from established agencies by fusing creative skills with data. There are now more opportunities than ever for stock images and videos to be more successful and prove their value. The crisis has made everything digital and encouraged e-commerce among smaller firms.

Recent Developments

• August 2023- Reliance Content Studios (RCS), a Reliance Entertainment Studios Pvt subsidiary. This new partnership phase represents a significant move forward for both organizations and promises to provide Indian clients with even greater value.
• August 2023- Google DeepMind released Visualising AI to eradicate inaccurate depictions of AI in "stock imagery and contemporary culture."