Stock Images and Videos Market

Market Overview

The global stock images and videos market size was valued at USD 5.2 billion in 2023 and is projected to reach USD 9.3 billion by 2032, registering a CAGR of 6.7% during the forecast period (2024-2032). The rise of digital media and the increased need for visual material in numerous industries drive significant global stock images and video market share.

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 ("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.

Highlights

• Stock Images generates the highest revenue share by product.
• Macrostock dominates the market by source.
• Commercial contributes significantly to the market by applications.
• RM topped the market by license.
• Marketers are the major end-users of the market.

Market Dynamics

Global Stock Images and Videos Market Drivers

Growing E-Learning Industry

The proliferation of online education and e-learning platforms has considerably increased the demand for visual content. Stock photos and videos are frequently utilized in instructional products to demonstrate topics, give visual assistance, and improve student engagement and comprehension. Platforms such as Coursera, Udemy, and Khan Academy extensively use visual content to create interactive and exciting learning experiences. These sites frequently use stock photos and videos to augment their teaching materials.

For example, in 2023, Coursera's revenue climbed 21% yearly to USD 636 million, driven by its consumer business, which comprises entry-level courses and professional certificates. Visual content, such as stock photographs and videos, is essential in e-learning because it increases engagement, clarifies complicated concepts, and improves information retention. Research indicates that individuals remember 80% of what they see and do, compared to only 20% of what they read and 10% of what they hear. Visual aids, such as diagrams, infographics, and educational movies, can help illustrate complex scientific concepts or historical events, making them easier to learn and remember.

Furthermore, the COVID-19 epidemic has expedited the spread of e-learning, with schools and institutions worldwide shifting to online classes. This transformation underlined the importance of high-quality visual content to replace traditional teaching materials. According to UNESCO, over 1.2 billion pupils were absent from class during the pandemic's peak, increasing the demand for online learning resources such as stock photos and videos.

Global Stock Images and Videos Market Restraints

High Competition and Market Saturation

Established organizations such as Getty Images, Shutterstock, and Adobe Stock dominate the market, with vast libraries of high-quality content and sophisticated search and licensing systems. These larger businesses control a large percentage of the market, making it difficult for smaller agencies to compete. These organizations constantly expand their content libraries and improve their service offers to remain competitive. Getty Images offers exclusive collections and editorial content, while Adobe Stock smoothly interacts with Adobe Creative Cloud programs, providing convenience for consumers who already utilize Adobe's tools.

Furthermore, the market is swamped with similar stock photographs and movies, resulting in oversaturation. This makes it difficult for new entrants to distinguish their products and attract clients. Many stock picture websites use repeating themes and layouts, reducing the content's apparent value. The availability of free stock image websites such as Unsplash and Pexels increases the competition. These services provide high-quality photographs for free, enticing visitors who typically pay for premium content. This trend pressures paid stock image providers to explain costs while maintaining a unique value proposition.

Global Stock Images and Videos Market Opportunity

Rising Penetration of OTT Platforms Boosting Demand for Stock Footage

Established organizations such as Getty Images, Shutterstock, and Adobe Stock dominate the market, with vast libraries of high-quality content and sophisticated search and licensing systems. These larger businesses control a large percentage of the market, making it difficult for smaller agencies to compete. These organizations constantly expand their content libraries and improve their service offers to remain competitive. Getty Images offers exclusive collections and editorial content, while Adobe Stock smoothly interacts with Adobe Creative Cloud programs, providing convenience for consumers who already utilize Adobe's tools.

Additionally, the market is swamped with similar stock photographs and movies, resulting in oversaturation. This makes it difficult for new entrants to distinguish their products and attract clients. Many stock picture websites use repeating themes and layouts, reducing the content's apparent value. The availability of free stock image websites such as Unsplash and Pexels increases the competition. These services provide high-quality photographs for free, enticing visitors who typically pay for premium content. This trend pressures paid stock image providers to explain costs while maintaining a unique value proposition.

Regional Analysis

North America Dominates the Global Market

The global stock images and videos market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

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. The United States has one of the world's most valuable advertising sectors. With a forecast ad spend of about USD 300 billion in 2023, the US market far outpaces countries such as China and Japan. As a result, the demand for online advertising services such as Google Ads, which help house commercials on websites and YouTube videos, is increasing. Besides that, due to the large population, brands now spend on advertisements on social media platforms such as Facebook and Instagram.

In addition, Internet advertising takes up the most significant share of ad spend. It 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, mainly 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.

According to UN Tourism, Europe accounts for 54.5% of all foreign visitor arrivals in 2023. According to UN Tourism, several European countries surpassed 2019 levels between January and November 2023, with Albania up 49%, Andorra up 31%, Iceland and Serbia up 15%, Portugal up 11%, Turkey up 7%, Greece up 4% (through October), and Spain up 1%. 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.

Asia-Pacific has a strong value orientation, which is why 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. By 2025, mobile, social media, desktop, and online video ads are predicted to account for more than 60% of media expenditure, with mobile video and social media growing at a 15% rate. The quickly changing media landscape fuels the region's advertisement market, boosting the regional stock images and videos.

The Middle East and Africa is witnessing spotty growth in recent years. Dropping oil prices has led to low advertiser confidence and economic development. 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 based on product, source, application, license, and end-user.

The global market is segmented into stock images and videos based on product. 

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 required 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. The increasing availability of impressions and consumer presence in these channels drives this trend.

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

Like stock images, stock videos are digital video clips licensed for specific usage. Professional videographers and filmmakers created these videos, covering various topics such as lifestyle, travel, business, nature, technology, and more. Filmmakers, advertisers, content providers, educators, and media corporations all use stock videos in their work.

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

The microstock 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.

Microstock is a massive collection of stock pictures and films supplied by various contributors, including amateur photographers, hobbyists, and freelance artists. These assets are distinguished by their affordability, accessibility, and sheer volume, with millions of images and movies accessible for license at little cost.

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.

Editorial use refers to stock pictures and films in non-commercial, informational, or illustrative publications such as newspapers, magazines, blogs, and documentaries. Editorial content often includes news items, feature articles, opinion pieces, and other non-promotional material.

The global market is divided into RM and RF segments based on license.

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 primary 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 could be more active. 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.

Royalty-Free (RF) licensing is a model in which the buyer pays a one-time charge to use the stock image or video for an infinite number of projects and purposes, according to the restrictions of the license agreement. RF licenses provide simplicity, affordability, and flexibility by allowing for widespread use without recurring fees or restrictions on usage.

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 most significant 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.

Film and television makers are another important end-user section of the worldwide stock image and video industry, as they rely on visual assets to enhance their productions and storytelling. Stock photos and videos are utilized in various ways in film and television productions, including establishing shots, background scenes, archival footage, B-roll, and visual effects.

Recent Developments

• January 2024- Getty Images, a stock picture seller, released a new generative AI tool for small and large enterprises, marking the latest foray into the market for image-generating systems.