"In 2005, Getty Images licensed 1.4 million preshot commercial photos. Last year, it licensed 22 million..." NY Times 3/30/10
In case you were wondering, it is not just you, all royalties are down - except for Getty's. A short sighted business plan to harvest RF images from all the hobbyists out there is just another way Getty has lowered the fees and quality of stock photography.
A Photo Editor's post today is another sign of things to come. I actually think Mariano Pastor's new "common man" pricing is sort of ingenious. But I also think the comments that follow the post tell more of the story.
We all need to reinvent and develop new streams of revenue, the extreme shift in the business is real and we can all follow it off the deep end or think of something better.