The rise of microstock and the fact that anyone with a camera can sell cheap photos has done a lot to devalue stock photography, but is the same thing happening to the photojournalism industry? Paul Melcher says that the industry is headed in that direction:
Forget the photo agency as an agent of talented photojournalists. The key now is to have a lot of contributors worldwide and hope that one will be at the right place at the right time. With photographers everywhere chances you will get the right image at the right time will increase, like buying a lot of lottery tickets.
In the film age, the cost of film, processing, shipment was too prohibitive. Now, you can receive and store million of images for a buck or two.
[...] Thus, taking a queue from the microstock model, photojournalism is now switching to the volume based model. While profitable for a photo agency, it is devastating for photojournalism and photographers themselves.
The story is the same: as technology makes photography and the distribution of photographs easier to do, the buyers of photographs win and the producers of photographs lose.