The market for professional photographers - Germany

1.1 Scope of the study

Photography is a practice of creating fixed and permanent images of objects through a physical mechanism based on light. Professional photographers are individuals who produce photographs in order to market them.

The market for professional photographers is characterized by a wide variety of players on both the supply and demand sides. For example, professional photographers are distinguished by their legal form and the nature of their activities, but are generally active in several market segments.

In particular, a distinction is made between:

• Salaried photographers working for the press and in press agencies
• Self-employed photographers
• Photo laboratories

The clients are also diverse, which explains the variety of activities of professional photographers, who are rarely limited to one market segment. The most important market segments include corporate communications, direct sales to private individuals, public commissions, press publishers, press agencies or even galleries and art dealers.

However, the market for professional photographers can be divided into three main categories:

• News photography, which is for newspapers and magazines.
• Fine art photography, used for exhibitions and art galleries.
• Commissioned photography, for commercial purposes (advertising, events, weddings, etc.).

The market for professional photography in Germany is quite stable with slight fluctuations. Overall, it has grown at a compound annual growth rate (CAGR) of 0.72% between 2008 and 2020. Companies in the industry exceeded two billion euros in revenue for the first time between 2017 and 2019. However, sales have been down 7.9% in 2020 compared to 2019, which may be due to the Covid-19 pandemic(Destatis).

Photography is characterized by constantly changing trends. The following study shows current trends and analyzes the market structure, as well as the competitive situation and challenges of the actuaries on the market.