Hmm—interesting to hear via the NYT that social media are cutting out the middleman, and thus reducing the price paparazzi can command:

“The old school way was that you would get an e-mail that said, ‘I was on vacation and saw so-and-so and I’d like to sell it to you,’” she said. “Fans are far less likely to do that now. They’d rather share it themselves first on Twitter and Instagram than sell it immediately. People are dedicated to gaining their own followings and that’s the best way to do that.”

Photos can go for a fraction of their historically high cost, she said. “It’s certainly devalued by the fact that it’s already out there,” she said.

Update: Design Taxi has a story about the NY Times running an Instagram photo on their front page. I found this comment from photographer Peter Krogh interesting:

What’s crazy to me is that the Times is granting a perpetual, sublicensable, royalty free, fully-indemnified license to its images to Mark Zuckerberg. Who cares which camera and software was used.