To understand what's happening in the stock industry, it helps to become familiar with the different pricing models used by the major agencies. Here are the four main models:

Rights-managed imagery (RM): Also known as rights-protected imagery, this includes work that is licensed via a pricing model that tracks client usage, in order to retain the right to charge higher prices for restricting that usage to a particular industry. Pricing is determined by negotiating various parameters, such as print run, image (file) size, distribution, placement and image sophistication. For example: "One-time, nonexclusive, North American, two languages, textbook, ¼ page, inside," or "Advertising brochure, ½ page, inside, 2 million print run, one-year, nonexclusive, worldwide.

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Royalty-free imagery (RF): Does not restrict rights of usage, so the image can be published in perpetuity by the licensing client. RF is usually offered in three or four resolutions, which limits its usability and determines its price. Some average examples:

• Low-res (2MB): $59 to $129
• Medium-res (10MB to 18MB): $179 to $289
• High-res (30MB to 50MB): $249 to $359
• Super-high-res (70MB+): $359 and above
• Range of prices for a disc with up to 100 images: $399 to $599 Subscription stock: Usually royalty-free stock, offered in bundles for restricted periods of time at one price rate, allowing numerous downloads. Business models vary with competing companies. A client may choose from a collection of several thousand images for one month (or six months or one year) for $99 to $2,400. File resolutions vary depending on the business model. This model works well for designers with strict budgets who work only with broad-subject images.

Wholly owned imagery: Collections of imagery that give the copyright holder control of their use. Whether created by image production companies or custom-photographed by work-for-hire individuals, the material is owned by the controlling agents, who collect 100 percent of the revenues.

— P.H.

Can I make a living in stock photography in 2006 and beyond? What business model is right for me? Which agents should represent my work? How many images should I produce?

How do I shoot for international markets? How much time should I spend on post-production?

These are only a few of the questions posed by professional photographers, and those who aspire to that status, in today's rapidly changing and very confusing image marketplace.

Excerpts from a lively Q&A session at last year's PhotoPlus Expo, in which photographers talked directly with agents.

The discussion covered such issues as current stock pricing structures, submission guidelines, revenue percentage splits, diversification, new image marketing models and international emerging economies. Here are some highlights from the lively Q&A session...