Inkjet & Digital Printing
Compounding Growth Continues in Online Digital Photo Processing Space
Thursday 01. May 2008 - Digital prints up 25%, online channel up 51% according to data released this week
myPhotopipe.com, Inc. (Pink Sheets: MPPC), a web-based online provider of digital photo processing and related services, today commented upon industry data that became available this week.
The February 2008 PMA Monthly Printing and Camera Trends Report released this week reveals that total prints made from digital images increased 25% when compared with the prior-year month, and the total share of market for “ordering prints online with mail delivery” expanded from 11.5% to 15.6%. This represents year-over-year growth of 51% for online ordering with mail delivery. February was the 14th consecutive month of double-digit industry growth in prints made from digital images since December 2006, as well as the 14th consecutive month of double- or triple-digit growth in prints ordered online and received via mail.
Compounded together — 25% or better growth in the overall market and 50% or better growth in the online channel — the value of a share point in the online space has nearly tripled since the beginning of 2006.
“myPhotopipe.com has always been a believer in the online model for ordering digital prints, and we remain the only ‘pure play’ in the online ordering with mail delivery channel,” observed L. Douglas Keeney, Chief Executive Officer of myPhotopipe.com, Inc. “It’s easier. It’s convenient. It delivers your prints to your home. So, yes, this latest data represents excellent news for our space and for our Company. Unfortunately, most people will overlook the most important part of the data, which involves the compounding effect, the perfect storm if you will, of a growth market and a growing share of that market. On a constant dollar basis, the value of online ordering has surged almost 300% since 2006.”
On a quarterly basis, the share of market represented by photographs being ordered online with mail delivery increased from 12.4% in March 2007, to 13.5% in June, 14.0% in September, 15.1% in December and ending February 2008 at 15.6%.
myPhotopipe.com recently announced a record year and continued growth in both new products and customers. “We’re adding between 400 and 600 new customers a month and seeing our web site bookmarked approximately 12,000 times a month. The new industry data tells us that the future value of every new customer increases over time, which in part explains why those of us in both the consumer and professional segment of this business are enjoying extraordinary sales growth,” concluded Keeney.