Thanks for the complement... I guess.
Unfortunately, my best images are taken at the San Diego Zoo or Wild Animal Park (which prohibits profitting from photos taken at their location) or I don't have model releases.
So basically, I've got maybe 5-10 really marketable images. Unfortunately that's not enough to get into a traditional stock photo house. I also don't have the time (full time grad student) to pursue photography enough to build that kind of portfolio.
And about undervaluing my work. Yes, they are undervalued on a per sale basis. But from a business standpoint, it might not be too bad if it evens out in payments over a year.
So basically there are two ways to look at it for me - business and artist.
As an artist I get more pride if my images sell for hundreds of dollars each sale. But realistically, I can't get into a tradtional stock house (due to my limited portfolio). I've also heard that the rule of thumb of stock is $1 per image per year.
From the other standpoint, if I make only $0.20 per sale, but I'm selling each image 20 times a year, then I'm making $4 per image per year (4 times more). Since I don't have a way into traditional stock houses, I don't have a choice (I'll see how this goes with Alamy, since they'll take small portfolios).
This is how I've been looking at this microstock situation:
Yes it contributes to a flood of images available at a lower price. So each image is now "worth" less. But they may net more per year (not per sale). So theoretically, any stock photographer averaging $1 / image per year would do better with this model. The stock houses make a lot of profit, since they're now taking 80% commission instead of 20% (but have higher operating cost percentage per image). Designers are the real winners as they can now buy pics for super cheap.
So it appears to me the people who lose the most are the traditional stock photographers and traditional stock houses.
Of course this is all based on the "rule of thumb" of $1 per image per year. Quang-Tuan stated earlier in the thread that Getty Images pays an average of $500 per image per year. That's 500 times what I expected. If that number is typical, then all photographers are the real losers.
Incidentally, at $500 per image per year, one could make $50,000 only 100 images alone!