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PhotoShelter Announces Licensing Agreement

PhotoPlus Expo, New York (Booth 1072) - November 2, 2006 - BitShelter LLC, the creator of PhotoShelter, a leading online archive and marketplace for professional photographers, today announced an exclusive licensing agreement with Cradoc Corporation the developer of fotoQuote, the industry standard price guide for stock and assignment photography. The agreement will grant PhotoShelter subscribers immediate access to fotoQuote's price information, enabling them to receive trustworthy pricing data within the PhotoShelter e-commerce function. The announcement was issued from the PhotoPlus Expo at the Jacob Javits Convention Center in New York.

PhotoShelter offers professional photographers a truly affordable and robust archive system, along with the tools and resources they need to turn their storage into sales. PhotoShelter provides disaster-proof storage that is both locally and geographically redundant, with 24-hour online accessibility and simultaneously serves as a sales platform, allowing photographers to create galleries, determine the fair market value, sell images, add search capabilities to their own sites and create RSS syndication feeds.

"Photographers now have the ability to determine and select a competitive price for their work. Photo buyers can access the determined price and purchase the image without photographer intervention. The benefit of this agreement is a seamless transaction for both photographers and clients," said Allen Murabayashi, chief executive officer, BitShelter LLC. "This agreement with fotoQuote, long considered the industry standard price guide for stock and assignment photography, demonstrates PhotoShelter's commitment to providing the highest quality service to the photography community by continuing to partner with only the most-respected products and companies in the industry."

The goal of the PhotoShelter/fotoQuote agreement is to give photographers more direct control over the pricing of their works, as opposed to a company or agency setting such prices, while making the negotiation and purchase of images easier for photo buyers. Within the PhotoShelter marketplace, fotoQuote data will be used to populate a matrix of average pricing data. Users will be able to set up multiple pricing profiles and adjust the value of those profiles as a percentage of the matrix price. They will also be able to set regional- and country-based variations. Photo buyers will then be able to use a series of select menus to generate a price and have the option to purchase an image directly using a credit card or negotiate that price with the photographer.

"With the integration of fotoQuote into PhotoShelter, photographers will have the ability to negotiate the fee with their client, or to create a simple pricing structure for their images," said Cradoc Bagshaw, the creator of fotoQuote and founder of Cradoc Corporation. "I've always believed that the pricing information in fotoQuote has allowed photographers to remain independent and to get paid fairly for the work that they do. I feel that the marketing tools available in PhotoShelter, combined with the pricing information in fotoQuote, give photographers a stronger position in a very competitive market."

PhotoShelter empowers the individual photographer to take control of the sale of their images by eliminating excessive commissions and providing seamless customization. The integration of fotoQuote pricing data enables photographers to eliminate delays in negotiation, allowing photographers, for the first time, to truly realize the benefits of an online marketplace.

"Freelance photography is a constantly evolving business - change is the norm. Since the introduction of fotoQuote, it has been my go-to reference for pricing. PhotoShelter is the 'back-end' of my Web site. FotoQuote and PhotoShelter working together is the killer combination that will help freelance photographers manage and grow their stock libraries," said Cameron Davidson, award-winning location photographer. "Integrating fotoQuote into PhotoShelter will save me precious time with negotiations and encourage seamless stock license transactions. This natural alliance will allow photographers to concentrate on what is truly important - creating images."

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