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          1. Photographic Services Industry Profile

            Report Page Length: 10-12
            Last Quarterly Update: 9/21/2020
            SIC Codes: 7221, 7335
            NAICS Codes: 54192
            Chapters Include:
            Industry Overview Trends & Challenges Industry Forecast
            Quarterly Industry Update Call Prep Questions Website & Media Links
            Business Challenges Financial Information Glossary & Acronyms
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            Excerpt from Photographic Services Industry Profile

            Companies in this industry provide still, video, or digital photography services, such as commercial and industrial photography, portrait photography, and special events photography. Major US companies include portrait studios Cherry Hill Programs, Lifetouch, Picture People, and Portrait Innovations, as well as commercial photo service Getty Images. Outside the US, major companies include H Tempest (UK), Studio Alice (Japan), and Visual China Group.

            North America is the largest market in the global photographic services industry, accounting for about 45% of worldwide revenue, according to The Business Research Company. Western Europe is the second-largest regional market, with a share of about 25%. Significant growth is expected to come from the Asia/Pacific region.

            The US photographic services industry includes about 14,000 employer establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $6 billion. There are also more than 165,000 nonemployer establishments with about $4 billion in total annual revenue. Nearly 70% of photographers are self employed.

            COMPETITIVE LANDSCAPE

            Demand is closely tied to consumer income and corporate marketing activity. The profitability of individual companies depends heavily on effective marketing. Large companies have economies of scale in marketing and production. Small companies can compete effectively by offering specialized services or holding favorable locations. The US photographic services industry is fragmented: the 50 largest companies generate about 40% of revenue.

            Providers of photographic services compete with consumers who have adopted a do-it-yourself mentality ...

             
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