Rising Film Prices: An Analysis
MARCH 2023 ● ARTICLES
Over the past decade or so, film photography has experienced a resurgence in popularity among photographers of all levels. At Y35, we're absolutely stoked, of course. Our whole vibe is celebrating film and those who share the same love and passion for the art. It's a massive bummer, however, that this renewed interest has been accompanied by a significant increase in film prices lately. We know that the community is upset. Many photographers are shooting much less, selling gear, or switching to digital. That's all understandable. Film photography is a niche hobby, and the ability to afford gear, film, and development/scanning costs is a privilege. But damn, it used to be so nice back in the mid to late 2010s, for example, to snag a roll of solid film for $5 to $9 (USD). We thought it would provide some insight and be interesting to analyze film price hikes, though, considering the context in which they are occurring. Ultimately, our findings and closing conclusions were a bit surprising.
To start, and to represent what many in the film community have been so upset about, we looked back at some of our previous orders from a favorite retailer (we'll keep the name private, you'll just have to trust us). We found that Kodak Pro Image 100 sold for $5.50 per roll in early 2020. Today, it is listed at almost $9 per roll. That's about a 63 percent increase! Pro Image 100 is an excellent beginner film, but now it seems to be priced at the level "pro" emulsions used to be. At around the same time, you could also find a pro-pack of 35mm Portra 400, a pro-level film, on Amazon for $42.59 ($8.52 per roll). Again, we're looking at old order receipts found in our emails. Today, in March 2023, the top result on Amazon for a pro-pack is listed at $77.49 ($15.50 per roll). That's almost an 82 percent increase!! Of course, you can still find good deals here and there, but overall, you can't deny that film prices have skyrocketed in a short time. Now, let's take a look at the U.S. Bureau of Labor Statistic's CPI Inflation Calculator. $1 in January 2020 had the same buying power as $1.17 today. If the price increase of that 35mm Portra 400 pro-pack had risen proportionately to inflation, it would cost $49.83 today. Or, the pro-pack would have cost $7.24 more. But in reality, it is $34.90 more expensive.
What the hell is going on? Well, it is clear that while the prices have increased, they haven't risen in line with inflation. And to be clear, this isn't specific to color-negative film or Kodak. You'll also find similar price increases in slide film, black-and-white films, and other brands, like Fuji. And to make matters worse, many film stocks have been discontinued entirely over the past few years or are much harder to find. A few members of the Y35 crew were in San Francisco last September, wandering about, snapping photos left and right. Scratch that. We were much more mindful of our film usage. We conserved shots in a way we hadn't been accustomed to, in a luxury hobby where you already need to be conservative about the amount you shoot (assuming you don't want to break the bank). Anyway, we stepped into a little shop to look at some vintage cameras and possibly stock up on some film. A roll of Fuji Velvia 50, a slide film known for its stunning, vibrant, saturated colors, high contrast, and fine grain, was priced over $30. We thought we were being conned. And maybe we were. It's possible that the shop hiked the price more than others. We left empty-handed and upset as Velvia 50 was a film we used to love to shoot and hadn't been able to find in person for quite some time.
Frames shot on Velvia 50 in 2019
But why is the price of film increasing so much more drastically than regular inflation? Have the big brands taken advantage of the film resurgence? Are they cashing in while it's hot? Let's dig in. Firstly, while film has gained popularity in recent years, it has decreased in demand since the advent of digital photography. As a result, film manufacturers have had to reduce their production volumes, effectively increasing the cost per unit. Secondly, some of the materials and chemicals used to produce film are now more expensive due to changes in the manufacturing processes and environmental regulations. It's also important to note that the manufacturing process is incredibly complex and arduous. And the big brands are finding it increasingly difficult to source the materials they need to produce film. Take cellulose triacetate, for example. This is the base on which film emulsions are coated. Other industries are taking an interest in this material, increasing its demand and, therefore, its price. Silver, which is used in the emulsion, has also jumped in price considerably over the past half a decade.
Simply put, with aging equipment/machines and facilities, scarcer resources, and supply shortages, film cannot be produced as cost-effectively as it once was. Rising costs get passed on to the consumers. And again, film photography has always been a niche hobby. Many justifiably view it as a luxury hobby. Back in the day, many people would develop rolls that included photos from holidays, vacations, photoshoots, and events that sometimes spanned an entire year. Hobbyists today shoot a much higher volume than their counterparts during the time when many of the most popular film cameras were initially released. Shooting habits have changed. But back to the point: achieving economies of scale in a relatively small market such as film is more challenging. During the peak of film demand, manufacturers increased production. They were able to lower prices by spreading their costs over a large number of goods.
We must also consider the COVID pandemic's effects on our niche market. Supply chains and distribution networks were significantly impacted, hurting manufacturers' abilities to maintain the status quo. Supply chain disruptions caused delays and shortages of certain products. Further, film is manufactured in relatively small volumes and, as we mentioned, requires a highly specialized production process. Manufacturers are also facing skilled-worker shortages. So, due to scarcity, we began seeing increased product prices. Manufacturers also needed to keep products alive amidst global economic struggle uncertainty, production and facility maintenance costs, and competition (mostly with digital photography). If a product is becoming too expensive to produce compared to the revenue it's bringing in, it becomes no longer viable to sell. So once again, we can see why prices began to rise due to COVID. Some may wonder why prices haven't dropped back down now that the pandemic is losing momentum. Let's revisit the concept of economies of scale. In a niche market, this isn't easy to achieve. But beyond that fact, because the big players in film had ramped up production and large facilities in the past, reeling this back is almost impossible. There are still existing costs, and production facilities and equipment must be maintained. And as we learned, costs became even more expensive for film manufacturers, and the resources needed to maintain production became more scarce. You can see how a high-volume production model supported by spreading out costs over a large number of goods starts to break down here. While some price fluctuations are expected over time, the underlying economics of film manufacturing and distribution likely means that prices will remain relatively stable or continue to rise.
What's incredibly fascinating is the emergence of digital cameras in the late 1990s and early 2000s. Film manufacturers needed to find a way to stay competitive, so film was priced artificially low. Prices were set so low that manufacturers even recorded losses in some years. Agfa went under, Kodak nearly faced the same fate, and Ilford was acquired. On the other hand, Fuji could stay afloat and do well by broadening its goods and services offered (document solutions, digital and medical imaging, regenerative medicine, etc.). Only around the mid-2010s did the film market begin to stabilize. And coincidentally, that is when film began to undergo a revival of sorts. Our problem when we sought to analyze film prices was not looking back far enough. We initially looked at the prices of specific emulsions over the past three years. Our findings would have been similar if we had looked back a few years earlier than 2020, even. But now, taking into account the historical context of film pricing, the underlying economics, and the effects of COVID, we need to step back and reassess the price hikes.
It's important to reiterate that shooting film is a luxury hobby. It doesn't help that consumers in recent years have become accustomed to shooting "luxury films" such as Portra 400 so casually rather than using budget-friendly emulsions like ColorPlus, for example. For many, the price hikes seen in the past few years have seemed extreme, unfair, and greedy. For those who point to high company profits to argue that price hikes are greedy, you have to consider the diversification of where companies are pulling in their revenue- it's not just film-related. Given all the other production issues we've learned about concerning film manufacturing, they can't continue to subsidize film from their other revenue sources.
Now, let's take that step back and compare prices again. In January 1954, Kodachrome, one of the most well-known and popular "old" emulsions, was advertised by Kodak at a sale price of $5.50 per roll of 36-exposure film, including processing. That is the equivalent of $61.51 today. Let's say you pay $12 for processing, which seems pretty standard. That brings us to $49.51 in today's dollars. According to many photography forums, the emulsion you can get today that most closely "mimics" Kodachrome is Fujichrome Provia 100F. B&H, one of the world's most popular and reputable photography retailers, has that film listed today at $32.90 per roll (35mm). That is significantly less expensive than Kodachrome was in the past when adjusted for inflation. Let's look at Ektachrome, but not so far back. In a 1984 Kodak advertisement, Ektachrome was priced at $4.79 per roll of 35mm film. That is the equivalent of $14.14 today. B&H has Ektachrome currently listed at $19.99 per roll of 35mm film. Here we can see a bit of a shift as prices today exceed historical prices, adjusted for inflation. It’s worth mentioning that slide film was also generally more expensive during this time, though.
Images from Popular Photography Magazine Courtesy of Mike Eckman
Let's look at an April 1995 advertisement that includes a $5.65 per roll price for Kodak Royal Gold 200. That's equivalent to $11.31 today. B&H currently has Kodak Gold 200 listed at $11.99 for a roll of 36-exposure 35mm film. Film in the 1990s was priced very similarly compared to the 2020s, even with the current price hikes. But you have to keep in mind that today, manufacturers are facing the pressures of digital competition, COVID, and changing economic landscapes. On one hand, price hikes in the past three years have been incredibly steep. On the other hand, film prices are now better or very close to what they were decades ago. It’s mind boggling that while in the short term, prices have risen disproportionately to inflation, yet in the long term, film prices have hardly been affected by regular inflation. We hope this analysis puts things into perspective a tad, even if the recent price hikes are discouraging. The increases will surely be more shocking for those who started shooting film in the past decade. But it turns out, film is actually priced relatively reasonably today, all things considered. Adjusting for inflation, film prices have not risen as dramatically as they might appear. It's reasonable that some may still turn away from film. We are facing tougher economic times as a society yet again, after all. So for those who still choose to shoot film, it's important to recognize the privilege of enjoying this hobby. It's important to be mindful of others and their choices with photography and art- there is no reason to shame digital photographers because "film is better." It's still a massive buzzkill to see these increases when we've been treated so kindly with cheap film the past decade, no doubt. We just need to be more realistic with our expectations and approach.
Film photography offers a unique and tactile experience that is hard to replicate through other forms of photography, and the process of shooting film can be a rewarding and meditative experience. The limitations imposed by film and the unpredictability of the process can actually be beneficial to your creative process. For those who can't get the same personal reward out of digital photography, there are some things that you can do to shoot film even with higher prices and stretch your budget.
Shoot less frequently and be more deliberate and thoughtful with your shooting habits.
Buy in bulk or roll your own film. You can also learn to develop at home and cut costs on developing. Additionally, you can invest in a home scanning setup to cut expenses on lab scans. As a bonus, it's fun to be part of the creative process each step of the way.
Try not to listen too much to the alarmists on social media- constant negativity is never a good thing. Have fun with your art in a way that fits your budget and hunt for good deals online and at local shops.
Switch up the films you shoot. If you primarily shoot color-negative film, try adding some black-and-white film into the mix, as it's generally less expensive and can change the way you go about photography. Don't be afraid to experiment with emulsions from newer, smaller manufacturers. You may be able to save some money and still yield great results.
Ultimately, the decision to shoot film comes down to personal preference and creative vision. While higher prices may be a factor to consider, they don't always need to be a barrier to entry for those passionate about the medium. By being strategic and thoughtful with your shooting and purchasing habits, you can continue to enjoy shooting film.