BEC of exciton-polaritons and related effects such as superfluidity1,2, spontaneous symmetry breaking3,4 and quantised vortices5,6 open way to creation of novel light sources7 and optical logic elements8. Remarkable observations of exciton-polariton BEC in microcavities9-12 have been reported in the recent ten years. Very recently, thermalisation and subsequent condensation of cavity photons in a dye-filled microcavity have been observed13. Here we show that BEC of both exciton-polaritons and photons can be created in the same system under different optical excitation conditions. A dynamic phase transition between a photon and a polariton BEC takes place after a single high-power excitation pulse and we find both condensed states in thermal equilibrium with the excited states. At the crossover, photons and polaritons coexist, which results in a decrease in the long-range spatial coherence. Build-up and successive depinning of polarisation is observed at the threshold of both polariton and photon condensation.
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