Companies in this industry provide still, video, or digital photography services, such as commercial and industrial photography, portrait photography, and special events photography. Major US companies include portrait studios Cherry Hill Programs, Lifetouch, Picture People, and Portrait Innovations, as well as commercial photo service Getty Images. Outside the US, major companies include H Tempest (UK), Studio Alice (Japan), and Visual China Group.
North America is the largest market in the global photographic services industry, accounting for about 45% of worldwide revenue, according to The Business Research Company. Western Europe is the second-largest regional market, with a share of about 25%. Significant growth is expected to come from the Asia/Pacific region.
The US photographic services industry includes about 14,000 employer establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $6 billion. There are also more than 165,000 nonemployer establishments with about $4 billion in total annual revenue. Nearly 70% of photographers are self employed.
Demand is closely tied to consumer income and corporate marketing activity. The profitability of individual companies depends heavily on effective marketing. Large companies have economies of scale in marketing and production. Small companies can compete effectively by offering specialized services or holding favorable locations. The US photographic services industry is fragmented: the 50 largest companies generate about 40% of revenue.
Providers of photographic services compete with consumers who have adopted a do-it-yourself mentality when it comes to photography, thanks in part to digital cameras embedded in smartphones. A growing number of consumers can now photograph, process, edit, and distribute high-quality pictures with ease, enabling them to bypass professional photo services. Competition is greatest for retail photo studios, but this trend also affects commercial providers.
Products, Operations & Technology
Major products are family portraits and images for corporate advertising and marketing materials. Among companies with at least one employee, portrait
Sales & Marketing
Finance & Regulation
Regional & International Issues
Also includes the following chapters:
Quarterly Industry Update
Trends and Opportunities
Call Preparation Questions
Glossary of Acronyms