Cutting Out the Middleman from Stock Photography

Using the concept of P2P collaborative e-commerce, vtechmedia has created an e-marketplace where photographers can sell their photos at a price they set and where buyers browse through a library of images and purchase directly from the photographer. Both buyers and sellers act as peers to regulate and improve the marketplace effectively eliminating the need for a middleman publisher.

FOR IMMEDIATE RELEASE:

CONTACT:
David Ho
vtechmedia, inc.
20101 McKinley Lane
Huntington Beach, CA 92646
Phone: 714-968-5404
ho@vtechmedia.com
http://www.vtechmedia.com

Cutting Out the Middleman from Stock Photography

Huntington Beach, CA -- May 31, 2002 -- Typically, a photographers photos are selected by stock photo publishers who then create catalogs of images which they then sell to photo buyers as CD ROM collections or as downloads from the publishers web site. Using the concept of peer-to-peer collaborative e-commerce, vtechmedia has created an e-marketplace of royalty-free digital images where photographers, not publishers, set the price they want and where buyers purchase direct from the photographer. The effect is essentially the same as cutting out the middleman.

Peer-to-peer collaborative e-commerce is perfect for stock photography," says David Ho, president of vtechmedia, There are so many professional photographers and even more extremely proficient amateur photographers who never get selected by a publisher for one reason or another because the industry is so competitive. But because publishers are so selective, the photo buyer loses the tremendous variety and originality that the vtechmedia e-marketplace is able to support."

The concept appears simple enough. Photographers simply submit their digital photos to vtechmedias e-marketplace with a price tag they choose. Prices range from 10 cents to $20. The submissions are quickly approved or rejected for content restrictions such as pornography or off-topic subjects such as digital artwork instead of photos. Once accepted, the images are categorized where buyers may browse and purchase for download. Vtechmedias system keeps track of all the accounting, billing, credit card authorization, royalty payments, etc. Photographers may submit and list photos free of charge. When a photo is purchased and downloaded, the photographer receives a 50% royalty per purchase. Photographers interested in submitting their photos for evaluation and possible listing should contact http://www.vtechmedia.com/home/photogphoto.asp.

When buyers and sellers act as peers to help each other define the marketplace they mutually want, the e-marketplace turns into an extremely efficient clearinghouse of high-quality, appropriately priced digital products," says Ho. For digital photography, weve definitely seen a need for this peer-to-peer system since weve seen the number of submissions grow simply by word of mouth. Photographers consider it a genuine resource helping them to find a market for their digital images."

About vtechmedia -- vtechmedia helps to monetize micromarket content by providing free online collaborative e-marketplaces where buyers and sellers act like peers to create the marketplaces they want to affect the commerce of digital content. For information: http://www.vtechmedia.com
Contact: ho@vtechmedia.com
Phone: 714-968-5404

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