Over the past ten days I’ve had the opportunity to attend industry events in New York and Amsterdam. The PACA (Photo Archive Council of America) conference in New York is one of the major annual events for stock photo agencies and IFRA in Amsterdam is a huge annual exhibition of technology for newspaper and magazine publishers.
PACA is not a big event as measured by attendance - probably 400 delegates or so, but they are the movers and shakers in their industry and they came from all over the world to network and assess the state of business as the global economy continues to wobble on its axis. The stock photo business isn’t likely to be described as a high growth. In fact, some reports say this $2 billion industry may shrink over the next couple of years. There was a fair amount of chatter about how difficult it is to gain online exposure to buyers, typically advertising agencies, designers, and publishers, as there are so many buying choices available these days. There was also much discussion about the perceived consolidation of the industry, with Getty Images and Corbis being the two big boys out to further assert their dominance.
However, I also met many delegates who were optimistic about their businesses and looking forward to introducing new products and services. They were keen to embrace new technologies that will allow them to implement their business plans. And, of course, there were plenty of tech vendors on hand (like us) eager to help them do so. It struck me that, as in other mature industries these days, there is always opportunity for those who embrace change. It’s the companies that spend most of their creative and financial energies trying to protect their franchises that are bound to end up with the short of the stick.
IFRA was a much different sort of affair. Held in the giant RAI exhibition centre and dominated by massive multi-million Euro exhibits of the big technology vendors, there were thousands of visitors. However, attendance was off sharply compared with the past couple of years. Interestingly though, most of the companies that I met with (to discuss partnering deals with Imprezzeo) seemed very pleased with their investment in the exhibition. They told me that, although attendance was down significantly, they didn’t feel they had wasted their money as the quality of the meetings they had was higher and the buyers, despite the economy, were eager to hear about new technology that would allow them to compete.
The big publishing companies who attend IFRA are no doubt fighting for their survival. Nevertheless, they can still reach into their piggy banks to invest in technology that they think will allow them to compete in the new media environment. Mostly this seems to mean products that will allow them to cut internal operational costs, such as Imprezzeo’s Image Search suite, or products that will enable them to publish in a multi-channel mode in real time across print, internet, audio and video.
There is a real revolution underway for old line news organisations, and IFRA provided an interesting peek at the armoury of new weapons at their disposal.

