September 22, 2010 § Leave a comment
According to crowdsourcing guru Jeff Howe, iStockphoto is the world’s most successful crowdsourcing company. Since the site launched in 2000 it has been unstoppable; it has single-handedly revolutionized the stock photo industry. Artists, designers and photographers from all across the globe flock to iStockphoto to submit and purchase illustrations, videos, music and sound effects.
I should probably throw a little context in here..
Stock photography, according to wordiq.com, is photography or other imagery of common landmarks, concepts, and events that can be used and reused for commercial design purposes.
Basically, using stock photography can save designers a nice chunk of time and money since they don’t need to hire anyone to create exclusive work.
iStockphoto.com is not only a place for people to purchase royalty-free media, but people can submit their own work and make a profit.
iStockphoto not only exemplifies crowdsourcing at its finest, but the site also uses a form of micropayments for people to purchase multiple photos, videos, video and audio illustrations. Users purchase credits for either 24, 29 or 95 cents per credit, depending how many are purchased. After a file is purchased, it may be used multiple times, which is a major plus.
People who submit to iStockphoto are paid a percentage of what their work sells for. Sellers don’t necessarily need to purchase work, and the same applies for those who only want to purchase. It’s a win-win if you ask me.