Professional photographers must differentiate themselves from everyday people with cameras to be successful
Melbourne, Australia (PRWEB) May 29, 2012
Professional photographers have recently weathered the twin storms of subdued economic growth and a long-term downturn in demand. This has resulted in a pronounced dip in Professional Photography industry revenue, which is estimated to contract by an annualised 2.5% over the five years through 2011-12 to total $800 million, down by 3.0% in 2011-12. According to IBISWorld industry analyst Anthony Kelly, “the long-term demand for professional photography has been eroded by the widespread adoption of digital camera technology by consumers and amateur photographers”. Manufacturers have continued to add more user-friendly features to digital SLR cameras and market them to hobbyist photographers, while the amount of photography short courses and online tutorials has grown. In addition to the long-term influence of camera technology, the demand for industry services is affected by the trends in the general economy and the capacity of households and businesses to purchase photography services. In the current slow economic environment, householders and businesses (e.g. media outlets) are undertaking photographic assignments that would formerly have been the realm of professionals.
The Professional Photography industry has a low level of concentration and there is only one major player – Photo Corporation Group. The industry is saturated with small players who are finding it easier to enter the industry due to the falling costs of start-up capital and consumable inputs. Kelly adds, “the vast majority of industry establishments are non-employer operations, principally sole proprietors undertaking wedding portraits”. The proportion of non-employing enterprises in the industry has increased over the past five years as new technology became more affordable and new markets opened for small players to exploit. Aided by low set-up costs, most professional photographers are operating on their own, in either a full-time or part-time capacity. This is especially true of wedding and portrait photographers.
Professional Photography industry revenue is expected to decline over the next five years. Photographers who wish to be successful will focus on areas where they can differentiate themselves from amateur photographers, such as superior shooting and image editing skills, or through providing services such as school portraits or wedding photography, where professionals are considered necessary or worth the expense on an important day.
For more information, visit IBISWorld’s Professional Photography report in Australia industry page.
Follow IBISWorld on Twitter: http://twitter.com/#!/ibisworldau
IBISWorld industry Report Key Topics
Companies in this industry undertake various forms of professional photography, including portrait, studio and street photography services.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Technology & Systems
Regulation & Policy
About IBISWorld Inc.
Recognised as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every Australian industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Melbourne, IBISWorld serves a range of business, professional service and government organisations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com.au or call (03) 9655 3886.