NEW YORK, Dec. 3, 2019 /PRNewswire/ -- The global editorial images market is expected to grow at a CAGR of over 5% during the forecast period 2018?2024.
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Engaging across broader touchpoints is becoming a major trend in the global editorial market. With marketing coming to the forefront, there is a more holistic approach that is being taken by vendors to expand their purview. Another offset of this is the standardization of the pricing system, where prices are based on the size and does not cover any credits, subscriptions, or discounts. Seeing as personalized content is becoming the need of the hour, vendors are deep-diving into the recording of purchase history, analyzing data of users, and using smart technology to display the visual content that is needed. While North America is currently leading the global editorial images market, China and India will be among the fastest-growing markets during the forecast periods due to their current state of the economy and increased accessibility to relevant imagery.
The following factors are likely to contribute to the growth of the heat gun market during the forecast period:
• Superior Journalism: A New Reality
• Widespread Media Layoffs
• The Rise of the De-territorialized, Hyper-connected News Ecosystem
• Syndication of Editorial Content
• AI and ML in the Editorial Images Landscape
The study considers the present scenario of the global editorial images market and its market dynamics for the period 2018?2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The study offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent companies operating in the editorial images market.
Editorial Images Market: Segmentation
This research report includes detailed market segmentation by application, channels, use-case, and geography. Fast-moving fluctuations in global, international, national, and local news and politics have kept audiences buried in newspapers and news-oriented magazines and online platforms. Naturally, the demand for news editorial images has gone up. This is bolstered by the growth in the array of news sources. Media organizations, especially messaging apps, that are experimenting with newsgroups, quizzes, broadcasts list, and more to cater to changing consumer demand for less confrontational and more private areas to have relevant conversations. Another stand-out driver is that the millennial population is spending much less time on news than the preceding generations and heat maps have pointed to headlines and contents accounting for the most viewed elements in a news article online, thereby increasing the relevance of editorial images.
The trend of veering away from end-to-end and self-contained text toward visual storytelling and alternative story forms is growing. Important matters in these publications are spread across double-pages and heavily illustrated with charts, infographics, and maps. Such strategies are turning around the demand for visual content from newspapers as well as other types of illustrative editorial content. However, unlike earlier, circulation/quantifying eyeballs was the main goal, now it is about getting in front of the right audience, driving a holistic view of visual content across the board.
The shift in business models in the publishing industry is putting the attention back on a wide variety of content such as blogs, newsletters, and eBooks. As media and publishing companies are turning the focus on retention and loyalty, newsletters are gaining prominence once again. The market is also benefitting from the influx of non-fiction titles, which have grown due to the high flexibility for the tonality of content among schools and libraries. The upsurge in social and political discourses has also increased the number of non-fiction books by celebrities and public figures, which is driving the demand for images for both covers and inside pages. As books and others such as memoirs and autobiographies get picked up more often on account of a high amount of interest in real-life stories, licenses are witnessing higher revenues.
The documentary segment is expected to be driven by news organizations and specialist libraries as they are looking for more authenticity than stock image sites. Portrait-style editorial images are gaining traction, specifically those of famous personalities such as scientists and politicians as magazines look beyond conventional representations and look to feature more arresting pictures. Larger-than-life pictures and extremely tight portraits are thus doing well on stock picture platforms.
The illustrative segment is primed to grow as the winds of change in the consumer paradigm create whole new avenues for the market demand. Review sites and blogs have blown up in recent times as general distrust spreads, and consumers seek social proof. Conceptual images of products, brands, and places are being used to help tell stories and convey ideas.
Market Segmentation by Application
Market Segmentation by Channel
Market Segmentation by Use-case
Editorial Images Market: Geography
North America's abandonment of print channels is the fastest, with social platforms and internet-centric organizations coming to the forefront. Both newspapers and consumer magazines, while mature, are witnessing falling revenues with decreasing volumes. Publications are moving to digital and sharing and outsourcing services, and major cost-cutting imperatives are in place. The region also witnesses high investments in other revenue streams to live off, moving into spaces such as events and videos, fueled by the focus on creating better user experiences to prevent the erosion of viewership.
The growth of the European images market has picked up, stimulated by attractive financing conditions and growing profitability. Countries across Europe have shown mixed performances; however, several major economies are on their way to stabilize this growth. Successful European news and publishing sites do not use paid tactics to the degrees used by websites in North America. This makes using engaging content across websites to drive engagement and increase re-visits important. This has made the context for images imperative.
Market Segmentation by Geography
o South Korea
• Latin America
o Saudi Arabia
o South Africa
• North America
Key Vendor Analysis
A majority of large players have entered into partnerships, acquisitions, and distribution deals in the global editorial images market. Major agencies such as Getty Images has largely been the go-to for editorial stock photos, often represent smaller ones, benefitting from their exclusive content and giving them an opening. However, a lot of these leading companies are growing, not from new sales but from eating into the share of other smaller agencies. Several vendors have a global presence and have created strong brand images for their products. Besides, several small and large vendors are altering the stock photography business by new approaches and models, such as making mobile a platform. With a lot of these vendors trying to cut costs considering the shrinking revenues, offering any kind of service apart from the basics is limiting their growth. A lot of players work with owners of the rights of editorial content and contributing photographers to offer commercial clearance by acquiring the proper permissions. The market is highly competitive with major players competing to gain a higher market share. Intense competition, rapid advances in technology, and frequent changes in end-user preferences constitute significant risks for the vendors.
• Getty Images
• Visual China Group (VCG)
Other Prominent Vendors
• AP Images
• Redux Pictures
• East News
• The Mega Agency
• PR Photos
• Agence France-Presse
• Reuters Pictures
• SilverHub Media
• NHK Video Bank
• Nippon News
• World Entertainment News Network (WENN)
• ZUMA Press
Key Market Insights
The analysis of the global editorial images market provides sizing and growth opportunities for the forecast period 2019–2024.
• Offers sizing and growth prospects of the market for the forecast period 2019–2024.
• Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
• Includes a detailed analysis of growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of segments and the regional outlook of the market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage.
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