Wednesday, January 6, 2010

PHOTO INDUSTRY: Photography Collective L’oeil Public Files For BANKRUPTCY


It's worrisome times for photographers.

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As reported on the Thoughts of a Bohemian blog, French newspaper le Monde just announced that collective photo agency, L’oeil Public, was filing for bankruptcy.

This is certainly bad news for photographers, since according to a Lightstalker blog post written by Samia Marais, "It is an agency that has 2 full-time employees (including me) and one part time to handle the researches, scans and accounting."

It seems that overhead was low, yet photographers such as Samuel Bollendorff, Philippe Brault, Julien Daniel, Karim Ben Khelifa and Frederic Sautereau couldn't generate enough income from clients such as XL Semanal, El Magazine del Mundo, El magazine de la Vanguardia, Newsweek, Time, Le Monde, Elle, Italian Panorama, Io Donna, Greek Magazine Epsilon, Newsweek Japan, Panorama (French) and Air France Magazine to keep the doors open.

WHY IS THIS HAPPENING?

Thoughts of a Bohemian thinks, "The reason for L’oeil’s closure is now becoming a banality. Falling prices and lesser assignments. A declining demand for original photography thanks to a marketplace that is more eager to save money than make money. A marketplace that has become a playground for CFO’s and their armies of blindly dedicated bean counters. Where photojournalism has been replaced by coupon journalism, where photo editors recruit amateurs to submit free images."

Please read more Thoughts of a Bohemian and weigh in. Who will be left standing by the end of 2010?

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