Decoder Ring Plus | Why Are Graduation Photos So Expensive?

Slate writer Henry Grabar was glad to see a professional photographer there as his now-wife crossed the stage at her graduation. But after the ceremony was over, he was shocked by the high price for downloading the image. What seemed like a small memento to celebrate the end of college turned out actually to be the product of a multimillion-dollar business built to cash in on your proud moment. For this special bonus episode, Willa talks with Henry about the surprising economics of the commencement picture industry. You can find Henry’s entire dive into the graduation photo business in his Slate article “Graduate Through the Gift Shop.” This episode is for Slate Plus members. Join now to unlock it—plus other exclusive Decoder Ring bonus episodes and ad-free listening across all your favorite Slate podcasts. Subscribe from the Decoder Ring show page on Apple Podcasts or Spotify. Or, visit slate.com/decoderplus for access wherever you listen.