Banlek, a burgeoning platform for buying and selling sports and event photos, has made headlines with its impressive revenue of R$ 260 million since its inception in 2020. This innovative startup not only caters to photographers but also transforms how images are shared, as nearly all purchased photos end up on the personal Instagram accounts of those photographed. Unlike traditional stock photo banks such as Shutterstock and Getty Images, which recently announced a merger, Banlek focuses on creating a space where photographers can publish and sell their photos from social, sports, and corporate events.
Jonathas Guerra, the founder and CEO of Banlek, prefers to refer to his company as “the Mercado Livre of photographers.” In an interview with Brazil Journal, Guerra explained, “I prefer ‘the Mercado Livre of photographers’ because it’s the photographers who set the prices, and Banlek takes care of all the logistics of delivery, including the sale of printed photos.” He further noted that almost 99% of the photos sold on the platform are shared on buyers’ social media accounts.
Banlek offers two distinct plans for photographers: a paid plan and a free plan, with commissions of 9% and 10%, respectively. Most photographers opt for the premium plan, which costs R$ 97 per month, due to its added benefits. Guerra highlights that the platform provides double cashback for photographers who subscribe, along with access to courses and the ability to sell photos independently without incurring additional fees.
Currently, 60% of the photos sold on Banlek originate from the sports sector, which includes images from beach training sessions and street races. The remaining 40% encompasses corporate, social, and cultural events. This distribution reflects the platform's commitment to catering to a diverse range of photography needs.
One of Banlek's standout features is its use of artificial intelligence to facilitate photo searches. For instance, during a street race, a runner doesn’t need to search for their photos using their bib number; instead, they can upload a personal photo to the site and utilize facial recognition technology to locate their pictures. This innovation allows users to find their images in crowded venues, such as stadiums during football matches, significantly increasing the volume of photos sold.
According to Guerra, the average monthly revenue for photographers selling their work on the platform is R$ 3,000. However, some photographers have reported earnings exceeding R$ 15,000 per month, particularly those capturing images of training sessions along Rio de Janeiro’s scenic South Zone. Banlek's revenue reached R$ 16 million last year, marking a remarkable growth of 240%.
Founded in 2019 by Guerra and Sérgio Illa, a former Air Force colonel and pilot who initially conceptualized the project, Banlek has evolved rapidly. In 2023, Guerra acquired Illa’s stake, becoming the sole shareholder alongside his wife, Maria Eduarda Guerra, who serves as the company’s CFO. This transition has allowed Guerra to steer the company’s vision and operations more directly.
Expanding geographically has been a key strategy for Banlek, which has pursued acquisitions to enhance its market presence. The most recent acquisition involved paying R$ 1.7 million for Surfmappers, a platform with a similar focus but specifically tailored for surf photography. Guerra stated, “Surfmappers is very strong in surf photography, so we’re basically expanding the reach of our photographers.”
Last year, Banlek also acquired UliSite, which operates in Paraguay and Portugal, and invested R$ 9.5 million to purchase Epics, a Brazilian competitor with 15 years of market experience. These strategic moves not only broaden Banlek's photographer ecosystem but also provide new avenues for revenue generation.
The company charges an average of R$ 20 per photo, with an additional R$ 2 fee for printed photos. Interestingly, Guerra noted that younger customers are surprisingly the ones most frequently requesting printed photos, which offer significantly better profit margins than digital sales. Depending on the photographer's plan, the commission on printed photos can reach as high as 70%.
As Banlek continues to grow and innovate, it remains committed to supporting photographers and enhancing the way images are shared and monetized. With its unique approach and technological advancements, Banlek is poised to redefine the photography market in Brazil and beyond.
