Vijay Anand | The Startup Guy.

Posts Tagged ‘istockphoto

Do you know how much India spends on Advertisement budgeting at the moment? a Whopping 400 crores. Did you know that the Times Group makes a heck of a lot of money in their outdoor advertisement business? I am quoted numbers as high as 60% of all outdoor billboards in Mumbai belonging to the Times Group. And I am also hearing that there is plenty of prime locations near the new Bangalore airport that is bought by the Times Group to expand and make sure that this revenue stream doesn’t dry up anytime soon.

So if I may come to the point, advertisements and the ad market is quite huge. The good news, its nascent and has just started and will only grow to be bigger from here.

That said, we do have a small problem. I have friends who work with online portals and in running content who basically have this complaint: “We scrap content at times, simply because we don’t have a good supporting image to go with it”. Images are plenty and dime a dozen across the web. What they are talking about is an image that fits the context – the context here being, the audience, and the characters of the story being Indian.

Let me zero in on the issue: Have you seen all the billboards that are up there around the city? In every bill board, in every Spread of newspaper, in every online banner, in every pamphlet and brochure, in every marketing material that is used by corporates, in every image that the media uses – be it print, broadcast or for advertising, wherever there is a boy or gal to be presented there, be it contemporary, skimpily clad or in the next new saree model there is, all of them are commissioned photos. Which means, each of those pictures probably cost more than a pretty penny for the advertisers who are running it. Could we do it for cheap? We could, if there was a way to get stock images with Indian folks on them – something that is quite as rare as the tiger population.

There is a business opportunity for a team of artists, creative and enthusiastic photographers to put together a studio and create this portfolio and effectively tap the market, very similar to what Istockphoto did. Any takers?