In the last few months, activity in the Hispanic Stock Imagery Market has been increasing. What is the size of this market? Who are the most important players? A Q&A with Laritza Lopez, owner and founder of Real Latino Images.
Portada: What is the size of the Hispanic stock imagery market?
Laritza Lopez: “If we follow the same logic as in general market – General market advertising spending is about $270B; commercial photography is a 2.2B industry, about 1%. The Hispanic market advertising business is about $4B; then we can assume that Hispanic stock would be approximately 1% of that, hence $35/40M.”
P: Who are the main players in the Hispanic stock imagery market?
LL: “To determine the main players in the Hispanic stock imagery market, it is important to distinguish between exclusive providers and general market providers.
Essentially there are three big players in this market, after these three the industry is very fragmented and there is exponential difference in size Getty Images – Approximately $800M Corbis – Approximately $250M Jupiter Images – Approximately $135M Representing about 1.2B, the remaining is in small stock agencies ranging in revenue size of a few thousand to a few million. The big players have Hispanic images within their offering as well. It is difficult to say who has the most since they sell each others' images. At the end of last year, Veer introduced “Somos” with about a few hundred images.”
Among Hispanic specific providers, Real Latino Images is the largest exclusive provider with close to 10,000 images.
Given current contract with one of the largest stock houses (Getty Images) it will have close to 60,000 by June. Pozo Digital was introduced this year in Feb/March they seem to have a couple of thousand images. So does, probably, HispanicShots.com. Latin Vision probably has a couple of thousand as well, but it is unclear if their images are model released and many as tagged for editorial use which usually means no model releases.
P: Where does demand for stock imagery come from?
LL: Demand for stock imaging comes mostly from Advertising Agencies, Direct Mail Agencies, On-line media, Government, Freelancers, Publications/ magazines/ books Editorial (newspapers, sites, etc). 75% of commercial stock images are purchased by advertising agencies 25% by editorial, book publishers, small businesses, and other small categories.