Is This the End of Kodak and Film Photography?
For over a century, Kodak wasn't just a company—it was the poster child of photography. It shaped how the world captured and preserved memories, from the Brownie camera to the iconic phrase “Kodak moment.” But today, the unthinkable specter looms: could the fall of Kodak signal the end of film photography? Let’s unpack the situation, then explore why the analog world might still have a bright future.
Kodak’s Plummet: How Bad Is It?
As of August 12, 2025, Eastman Kodak has issued a troubling going-concern warning, stating that it may not have enough liquidity or committed financing to safely meet its debt obligations over the next year. This is a formal admission that its financial foundation is shaky at best.
The market reacted swiftly and decisively. Kodak's stock plunged between 25% and 26%, landing around $5 per share. Meanwhile, reputable outlets like the Times of India and AP News have also flagged concerns, noting that Kodak’s inability to cover debts has sparked serious doubts about its capacity to continue as a going concern.
Moreover, the company has taken drastic steps, such as terminating its pension plan contributions, and is relying on the questionable potential of a pension reversion to shore up cash reserves—yet accounting rules delay recognition of those funds until December. Kodak holds $155 million in cash (with about $70 million in U.S. holdings), but with debt looming, that may not be nearly enough.
This isn't Kodak's first brush with collapse. Remember its 2012 Chapter 11 bankruptcy, when it emerged from under a mountain of $6.75 billion in debt? Today’s news signals that, despite a decade of effort to reinvent itself—through pharmaceuticals, chemicals, and printing—Kodak’s future remains perilously uncertain.
So yes—right now, it looks dire. The mightiest of film-era giants is visibly faltering.
But Film Isn’t Dead Yet: Other Players Are Stepping Up
All is not lost for the world of analog imagery. Thankfully, other manufacturers are continuing to invest in, innovate, and release new film—especially 35mm.
1. Harman (Ilford)
Under the umbrella of Ilford Photo and Harman Technology (UK), a host of timeless black-and-white films remain in steady production. Think FP4+, HP5+, Delta series, and new Kentmere variants as affordable options for modern photographers.
In 2025, Harman launched Phoenix II 200, a refined update to their high-contrast color negative film; and RED 125, a redscale version in 120 format released in June. These moves signal active R&D and experimentation.
They’ve also continued their Ultra Large Format (ULF) and custom-size film campaigns, inviting niche enthusiasts and artists to order uncommon film sizes—another encouraging nod to analog’s artisanal side.
2. Luckyfilm
Based in China, Luckyfilm reintroduced black-and-white classics like SHD 100 and SHD 400 in 2024. They’re even considering a return to color film if demand holds.
3. Ferrania (Italy)
Though not explicitly mentioned originally, launching films like P33 (ISO 160) in 2024 and Orto (ISO 50 orthochromatic) in 2023 highlights continued European analog activity.
4. Others
Analog.Cafe’s June 2025 recap noted new additions including Ilfocolor 400 Cine Tone, Harman Red (120), and other format expansions from niche suppliers Analog Cafe.
What This Means for Photographers: A Crossroads
Kodak’s downfall hurts—no doubt.
As a symbol, Kodak’s decline is deeply symbolic of analog photography's wider struggles. But its business troubles are not synonymous with the end of film.
The film ecosystem remains resilient and nimble.
Where Kodak may falter, smaller and more agile players continue to thrive, driven by community demand and creative passion. These companies can adapt nimbly and offer new, specialized products.
Artistic value and analog revival persist.
For many, the allure of film lies beyond nostalgia—it’s about texture, craft, and intention. With demand sustained by enthusiasts, educators, and artists, the market may continue to sustain analog projects, even if on a smaller scale.
So, Is This the End of Film Photography?
Not at all.
Film, like photography itself, has always been a medium shaped by flux. While Kodak’s potential collapse may mark the end of an era, it doesn’t signal the death of film. Instead, it's a reminder to diversify, support smaller suppliers, and celebrate analog’s ongoing evolution.
Finding Hope at the End
As you wrap up your blog post, consider leaping off the precipice of uncertainty into a space of renewed optimism:
Support independent film makers: Buying from Ilford, Harman, Luckyfilm, Ferrania, or Leica isn't just a purchase—it’s preservation.
Celebrate new releases: Phoenix II 200, RED 125, Monopan 50—they’re proof that creativity endures.
Explore niche formats: Ultra Large Format, custom films, and regional brands expand the palette of possibilities.
Document the renaissance: Share your analog journeys. Whether through blog posts, galleries, or local groups—film’s story is still being written.
Wrapping Up
Kodak's current crisis may feel like a shutter slamming shut on analog photography’s grand legacy, but the race isn’t over. Across the globe—from the streets of Shanghai to the labs of Mobberley—makers are still coating emulsion, winding film, and lighting darkrooms. The decline of one giant doesn’t equate to the end of a medium. Rather, it marks a tipping point—inviting new champions to step forward, new voices to tell old stories, and new images to be captured on silver and celluloid. Isn’t that what photography’s about, after all?