All of the venerable camera makers are continuing to see declines in sales. Canon, Nikon, Olympus, et al have seen camera revenues plummet again throughout 2019. Canon predicted earlier this year that they expect unit sales to drop by another 50% over the next two years. Nikon recently announced that they’re expecting their camera business to lose $92 million in 2020. And Olympus’ camera revenues are down, prompting rumors a few weeks ago that they were looking to dump their camera business. (Olympus quickly denied those rumors, saying that they plan to release 2 new camera bodies and 3 new lenses each year for the foreseeable future).
But the photography market is definitely undergoing changes and stresses. As I noted in a post about 6 months ago, these trends have been in place for a while now. There are multiple factors:
smartphones – Nearly everyone has a smartphone, and the cameras in smartphones have improved substantially over the years. In addition, advances in “computational photography”, which uses software to selectively blur certain areas or reduce image noise, have made most recent smartphones “good enough” for the snapshots of vacations, family and food that most people share on social media. So most folks see no need for a separate, specialized device, since they always have their phone with them anyway.
improved camera technology – From 2000 to 2015 there were regular, significant improvements in camera sensors, camera firmware/software, and lenses – which made regular equipment upgrades more compelling for amateur, enthusiast, and professional photographers. But starting about 3-4 years ago, the incremental improvements have been less compelling for a significant number of photographers. 16-20 megapixels, and usable ISOs up to 3200-6400 are considered to be just fine for most photographers, including many professionals. While these folks like, and enthusiastically use, their interchangeable lens camera systems, they feel no pressing need to upgrade.
waning interest in the hobby – We’re going through a time in history, and in popular culture, where there’s just not as much interest in exploring and taking up the types of creative photography made possible by interchangeable lens cameras. Whether this is a temporary phenomenon or a long-term trend remains to be seen. I’m holding out hope that it’s the former rather than the latter.
I have a working theory that at least part of the decline in new interchangeable lens camera buyers is tied to the fact that people just don’t see serious cameras in use out in public much these days. There’s little to spark their interest – they’re not seeing other folks using these non-phone picture-taking devices in pursuit of creative art.
So I’m challenging myself to overcome the stigma of “sticking out” – maybe even of looking weird – and to carry and use one of my cameras in public on a regular basis. I’ve intended to do this more regularly in the past, but haven’t been good at following through. But I’m issuing the challenge to myself anew. I’ve thrown my E-M5 into my messenger bag along with a couple of lenses, and I’m setting it out where I can easily grab it whenever I head out and about. I’ll try to do my small part to keep the hobby and art form alive into the future.