In June 2011 I posted 3 year trends in return per image (RPI) from my microstock portfolio. How it looks 6 month later? Here is an update for 2009-2011 years.

How RPI is calculated

Calculating RPI is straightforward for a single agency – just divide earnings from sales by the number of pictures in your portfolio there for a given time period, e.g., a month. It is getting more complicated when you are submitting pictures to multiple agencies. You cannot calculate RPI separately for each agency and then add those numbers together. That would be mathematically incorrect. You need to use the same number of pictures as reference for each agency, e.g., the average size of your portfolio.

I am submitting pictures to multiple microstock agencies. To derive the total RPI for my portfolio I am using the total number of pictures prepared for microstock. This way I can use RPI to compare performance of different agencies. My RPI depends obviously on the acceptance rate. So, the agency, which regularly rejects my pictures as too similar or duplicates, has a lower RPI in my system. The “similarity” issue is a major problem in the case of Dreamstime and to a much lower degree of iStockphoto.

After 4 years of my microstock adventure I have around 3800 pictures in my stock portfolio: 68% in iStockphoto, 83% in Shutterstock, 59% in Dreamstime and 66% Fotolia counting just the 4 top agencies. I do not analyze separately other agencies with lower sales, instead I am looking at total sales from them as “others” (Bigstock, 123RF, Canstock, Veer, Graphic Leftovers, Deposit Photos, PhotoDune, Panther Media, StockFresh, FeaturePics, Yay).

This is a supplement to the previous posts discussing trends in 3 years of my microstock earnings and contributions from different agencies.

Let’s look at the growth of my portfolio in iStockphoto, Shutterstock, Dreamstime and Fotolia. These are my 4 top microstock performers providing 88% of income. I submit pictures regularly preparing between 50 and 100 new files each month.

The gray line above represents a number of all pictures (jpg) produced for microstock including rejects, multiple versions and files which were not submitted. So, this is a measure of my work and efforts rather than a number of files available for stock. I used that number as a reference to derive RPI (return per image).

After 3 years I have quite different portfolios in various agencies. Shutterstock has the highest number of my pictures (2269 by the end of October 2010). Nowadays they accepted almost all pictures. Dreamstime with 1,761 files takes the 2nd place. However, my DT portfolio is growing slower during last year than in other agencies due to their review policy (“too many similar pictures”).

My numbers for IS (1628) and Fotolia (1614) look quite similar, but those portfolio are quite different. FT accepts most pictures rejected by DT. My landscape and industrial pictures rejected by FT are usually selling in IS. It is interesting that the IS portfolio contains some unique pictures which were not accepted by SS, DT or FT.

My adventure with microstock photography started in November 2007. 3 years in microstock is an occasion for a statistical summary.

iStockphoto, ShutterStock, Dreamstime and Fotolia are considered nowadays a Big 4 among microstock agencies. Indeed, they bring together between 80 and 90% of my earnings from microstock photography. After 32 months of submitting the size and content of my portfolio at different agencies are quite different: iStock – 1425 pictures, Shutterstock – 2024, Dreamstime – 1586, Fotolia – 1392.

The above graph show percentage of my earnings from the Big 4 agencies and other mictostock sites during last 2.5 years. I plotted quarterly values to smooth out month to month fluctuations.

I started to submit my pictures to iStock in November 2007 and that agency dominated my earnings until I got accepted by Shutterstock. Then, Shutterstock took a lead for a year so. In the beginning of 2009 my sales at iStock started to grow and today iStock in my number 1 with 40-50% of all microstock earnings. Is it a permanent trend? My sales at iStock are slowing down despite of reaching a gold level which allows me to submit more pictures.

Dreamstime is holding number 3 in my microstock earnings with a pretty steady contribution of about 10%. The number 4, Fotolia, shows some growth recently.

All remaining microstock agencies contribute currently about 12% to my income. I can divide them into two groups: (1) agencies with regular payouts every month or every second month (BigStock, 123RF, CanStockPhoto, Panther Media) and (2) agencies where need several months or a year to reach payout level (Veer, FeaturePics, DepositPhotos, Graphic Leftovers).

Yesterday, I reached 1000 pictures in my Dreamstime portfolio with this image of green peas from my garden. It feels like just a few days ago I was shooting quite different picture of the same peas. A stormy spring in Colorado with a lot of hail was not very kind for my garden.

Today, I requested my 7th payout from Dreamstime, so it looks like this microstock agency is working pretty well for me. It is on the third position in earnings after iStock and Shutterstock.

However, the growth of my Dreamstime portfolio slowed down during last few months. My effective acceptance rate dropped down below 50%, i.e., I am submitting selected pictures only, and they take only 64% from them. “Too many shots of the same item or from the same series” is the rejection theme. It seems that for some inspectors the main picture subject is not important. The same prop (e.g., my wooden scoop) may be a reason for a rejection.

Here is how my Dreamstime portfolio compares to some other microstock sites. ShutterStock accepts almost everything what I submit. The size of my iStock portfolio is kept down by their uploading limits, but my acceptance rate stays the same at 75-80%. My Fotolia portfolio is also quite small due to rather low acceptance ratio. It used to be really low last year, but improved during recent months.

My microstock earnings in May were still growing (+10%), but I see a slowdown. Summer time? There are some changes in performance of my top players: Shutterstock and iStockphoto.

I spent less time in May in creating new images for microstock, but I managed to increase my average microstock portfolio from 942 to 1002 files. 86 new pictures in SS, 56 in IS, and 45 in DT.

April was a good month for my microstock photography – 22% increase of earnings in comparison to March. BME in Shuterstock, iStock (the last two weeks were great), Dreamstime, Fotolia, and 123RF.

Lee Torrens at Microstock Diares mentioned that microstock is up and his March earnings report confirms that. However, I got somewhat mixed results from my portfolio.

Great month in microstock! First time I made more than $500 in earnings. 46% increase in comparison to January. BME in Shutterstock, iStockphoto, Dreamstime, Fotolia and StockXpert.

“Volumewise” my strategy for 2009 is simple: focus on my three top agencies (Shutterstock, iStock, and Dreamstime), 100 accepted pictures per month in SS and DT, and all upload slots filled in IS.