The effect of the COVID-19 pandemic on the operation and use of stock agencies
Niskanen, Teemu (2021)
Niskanen, Teemu
2021
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2021052410672
https://urn.fi/URN:NBN:fi:amk-2021052410672
Tiivistelmä
The objective of this study was to gain an understanding of the operation and change in usage of stock agencies during the COVID-19 pandemic. The operation and usage were explored from the perspective of stock agencies themselves, as well as their contributors and customers. Subjects such as business models, the type of uploaded content and the demographics of stock agency customers were explored in order to create a clearer picture of the industry’s past and present.
Online information on stock agency statistics and contributor sentiments provided initial findings, which helped to form a base for further research. Separate surveys were conducted for stock contributors and customers in order to gain knowledge on their current use of stock agencies. These surveys were posted on social media groups and sent individually by email to professionals in the visual media industry. Email interviews with two contrasting large stock agencies were also conducted to gain insight on the effects of COVID-19 from their perspective.
The survey and interview answers revealed mixed views. It appears that specific types of stock agencies needed to resort to drastic operational restructuring while others seemed to have enjoyed a very successful year in 2020. This sentiment was largely carried over to the contributors who had experienced different financial outcomes due to operational changes within stock agencies. On the other hand, the number of new stock agency customers seemed to have increased due to the restrictions of the COVID-19 pandemic.
The overall findings indicate that further research should be conducted into specific types of stock agencies in order to compare the impacts of the COVID-19 pandemic on microstock agencies and midstock agencies.
Online information on stock agency statistics and contributor sentiments provided initial findings, which helped to form a base for further research. Separate surveys were conducted for stock contributors and customers in order to gain knowledge on their current use of stock agencies. These surveys were posted on social media groups and sent individually by email to professionals in the visual media industry. Email interviews with two contrasting large stock agencies were also conducted to gain insight on the effects of COVID-19 from their perspective.
The survey and interview answers revealed mixed views. It appears that specific types of stock agencies needed to resort to drastic operational restructuring while others seemed to have enjoyed a very successful year in 2020. This sentiment was largely carried over to the contributors who had experienced different financial outcomes due to operational changes within stock agencies. On the other hand, the number of new stock agency customers seemed to have increased due to the restrictions of the COVID-19 pandemic.
The overall findings indicate that further research should be conducted into specific types of stock agencies in order to compare the impacts of the COVID-19 pandemic on microstock agencies and midstock agencies.