Is sharing equipment the future of gear ownership?
Is sharing equipment the future of gear ownership? Before this question can be answered, we first need to dive into what gear sharing really is.
When we talk about the future of ownership we are really talking about the relationship between a creator of media and their equipment. In the past obtaining equipment had two fairly simple options.
- Go to your local camera shop/equipment house and buy
- Book a short term rental from your local rental house
But today creators are being introduced to a third option, renting equipment using an equipment sharing platform. And thanks to its ease of use, cost, and ability to grow the users network, this option is rapidly growing in popularity.
There are two major ways in which these platforms are beginning to change the production industry as a whole:
Buying equipment is now a recoverable investment
Now that creatives have the ability to recover the money spent on equipment, new equipment is more than just a way to better your productions. Creatives can look at purchasing equipment as an investment that can create returns directly back to the owner in cash.
How will this effect ownership?
Buying new gear can be an exciting time for any creative — but, it can also be scary. It’s a big investment that comes with no guarantee of a return. Sharing platforms can mitigate some of this risk. Individuals and companies who do decide to invest in new equipment now have access to a resource that enables them to generate revenue — offsetting the cost of this investment.
By minimizing the fear of purchase, this has the potential to increase the amount, overall, of spending on new equipment.
Renting will become easier and more economical
Today, renting equipment is the norm. Attempting to buy every piece of equipment required for every shoot would be completely uneconomical and unfathomable. Renting just makes sense — but it, too, is also expensive.
A major benefit of an equipment sharing sites is that you are renting from individuals who are producers of media first and renters second. This means they less likely to charge you a high price. Lenders are simply looking for another passive income, not to make a living off your rentals.
This price drop coupled with advances in the technology that helps you find, book, pay for, and pick up a rental can make ownership less appealing.
How will this effect ownership?
Why buy if renting is this easy? It always feels nice to buy that new camera and know that it’s yours. But, how much is that feeling worth? Generally, this decision will come down to economics. If we’re comparing equal pieces of equipment, for most people it will simply make the most sense to rent.
But is gear sharing the future of gear ownership?
The simple answer is no. But don’t stop reading now, because unfortunately this isn’t a simple question.
Gear ownership will always exist. To the more novice content creators, owning equipment is both a point of pride and it can also serve as a learning tool. When you own equipment you can use it all the time… for free. Imagine trying to learn basic cinematography skills while renting all your gear every day — it would be impossible.
That being said, as these content creators begin to develop in skill, they will also develop a deeper understanding of the different equipment options. A sharing platform that allows for experimentation with different equipment can be a key asset for a developing creator.
For the more senior members of the creative media industry, the relationship with equipment becomes more utilitarian. The goal is to produce with the highest level of quality possible, whether the equipment is owned or rented doesn’t matter quite as much.
This is an era where it’s possible to share your home, your car, your couch, and probably even your cat at this point, so why not a camera? While equipment sharing equipment will never completely replace buying, it’s quickly becoming more and more prominent. And without a doubt, the effects will be felt throughout the content creation industry.
