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Author Topic: Wemark hows it going  (Read 8233 times)

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« on: April 28, 2018, 10:55 »
0
I've just uploaded a small batch of pics....suggest we use this thread to record whats happening and our experience of them...and use other threads to debate pros and cons.


« Reply #1 on: April 28, 2018, 12:24 »
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How are you pricing and marketing your portfolio?

« Reply #2 on: April 28, 2018, 14:17 »
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I just uploaded a few pics. It is hard to log on but if you are willing to wait a long while it will log on. No ability to price yet as pictures have to be approved. Wait and see. Hope site works out but no new site has been successful in over 10 years. If they don't have a big(BIG) marketing program I guarantee this site will also fail. 

« Reply #3 on: April 28, 2018, 16:05 »
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I'm waiting to see whats approved before I think about pricing etc...found it OK to log in and upload but no ftp.

« Reply #4 on: April 28, 2018, 17:02 »
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Judging by the people involved looks like an interesting project. Too bad it's photography only.

« Reply #5 on: April 28, 2018, 18:43 »
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Looks like a decent incentive to upload early.

« Reply #6 on: April 28, 2018, 19:08 »
+1
Looks like a decent incentive to upload early.

Why, what are they giving away?

« Reply #7 on: April 29, 2018, 01:44 »
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Why, what are they giving away?

100% commissions on any sale for up to 500 photos uploaded before May 1

« Reply #8 on: April 29, 2018, 01:45 »
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I'm waiting to see whats approved before I think about pricing etc...found it OK to log in and upload but no ftp.

I am uploading now, and their browser upload is quite fast. Good enough that I am not worrying about no ftp.

« Reply #9 on: April 29, 2018, 03:32 »
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Why, what are they giving away?

100% commissions on any sale for up to 500 photos uploaded before May 1

Sounds a lot 100%, too good to be true?  Yes, the normal rate is 85% so you get given 15% on your first 500.  If you upload 5,000 photos that's a whole 15% of 10% and given that half your images wont sell, if any do, the enticement is 7.5%of 10% in this situation, much of which will be canabalised from other sources you sell from.  I think they need to increase that to at least 5,000 if they want to get anywhere near the inventory they need to compete.

« Reply #10 on: April 29, 2018, 09:52 »
+2
Their site seems super WOW, but I have absolutely no clue what they are doing. For me it seems too good to be true. Who are these mysterious top producing SS and GI photographers that have joined Wemark? Exclusive or Non-Exclusive? RF or RM? Payout minimums? How to convert their play money to real money? The list goes on...

I for one will not gamble with my work and send it into a well spun black hole.

The site has sold me on how much more I could make assuming their are sales, but why would any buyer leave a well greased machine ie: SS, AS, GI etc. from their shopping list?

The only way this could work is if most photographers sold their photos for $0.50 each on Wemark, then and only then could it compete with the subscription model most of us hate.

« Last Edit: April 29, 2018, 09:59 by Clair Voyant »

ShadySue

« Reply #11 on: April 29, 2018, 10:46 »
+1
Is the site open for business? I can't even see a search box!

« Reply #12 on: April 29, 2018, 11:28 »
+4
Nobody cares about "Wemark Tokens". Now 100% for sure and in the future i think so too. They should use bitcoins.
Why i do not see a search function? It`s looking for me as someone is trying to make money with a new crypto currency. Trying to sell "Wemark Tokens".
If we earn money, how to transfer to Euro or USD to my bank account? At the end of the day a bank still gets involved.. not?
 They should use bitcoins.
« Last Edit: April 29, 2018, 11:42 by photoboxer »

« Reply #13 on: April 29, 2018, 11:43 »
+1
More % to photographers as the main reason why the buyers should care? Most buyers don't care. At all.

But when I see their list of investors and advisers I must say this smells on money. Seems like they got marketing covered so the potential is definitely there.

Still, I think it's too early to submit work. They should prepare all the functions for contributors, including the payment system, and they should accept all rasters (not just photos) and vectors from the start. And we shouldn't wait who knows how long until the marketplace starts working.

« Reply #14 on: April 29, 2018, 11:49 »
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Click on token sales, then scroll down to the bottom to the road-map. It shows the planned dates for an alpha launch then a beta launch. It also show a 4th quarter 2018 addition for payouts to credit cards, wire transfers, bitcoin, ethereum, and other cryptocoins.

« Reply #15 on: April 29, 2018, 12:19 »
+2
I know. As I've said, submitting now is too early. The question is why they need the content now? Why they reward with 100% the content submitted until the May 1st? Why not until (much) latter?

« Reply #16 on: April 29, 2018, 12:19 »
+4
Their site seems super WOW, but I have absolutely no clue what they are doing. For me it seems too good to be true. Who are these mysterious top producing SS and GI photographers that have joined Wemark? Exclusive or Non-Exclusive? RF or RM? Payout minimums? How to convert their play money to real money? The list goes on...

I for one will not gamble with my work and send it into a well spun black hole.

The site has sold me on how much more I could make assuming their are sales, but why would any buyer leave a well greased machine ie: SS, AS, GI etc. from their shopping list?

The only way this could work is if most photographers sold their photos for $0.50 each on Wemark, then and only then could it compete with the subscription model most of us hate.
I don't really see uploading a small number of files as much of a gamble anymore than uploading them to Agencies where they can finish up god knows where under some obscure partnership agreement which you may be unable to leave for months if at all without leaving the site.


« Reply #17 on: April 29, 2018, 12:36 »
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I know. As I've said, submitting now is too early. The question is why they need the content now? Why they reward with 100% the content submitted until the May 1st? Why not until (much) latter?

I'm not sure why anyone considers that a mystery.  This is a new agency that wants to compete in the market.  To do that, they need a large image base to sell from.  Offering 100% on the first 500 photos uploaded before May 1 is a way to encourage people to submit those 500 images, giving them a head start into their target market.

They say they have 40,000 photos now.  Most established agencies have multiple millions (SS was at 180 Million last time I looked).  How else is WeMark going to get enough images to be viable?

« Reply #18 on: April 29, 2018, 12:41 »
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Still, I think it's too early to submit work. They should prepare all the functions for contributors, including the payment system, and they should accept all rasters (not just photos) and vectors from the start. And we shouldn't wait who knows how long until the marketplace starts working.

You obviously don't have to submit now.  By waiting, you may decide to never upload if WeMark fizzles (which is rather likely).  However, if they do succeed, then by waiting, you:

1) Will pay an extra 15% commission on all images.  Upload your very best sellers now, and those will be commission free forever (or so the ad says...)

2) A smaller library means a better chance of your coming up on the searches, which means a larger % of WeMark sales will be YOUR sales.  With 180 Million images on SS, it is harder to show up on the search results than with 40,000 images on WeMark (today -- will obviously be higher by their release date).

This is a typical question that all employees ask when faced with joining a startup.  Do you risk getting nothing beyond the low starting salary of a startup, in exchange for a possible much larger payout later?  Or stick with Fortune 500 companies where you get a straight salary as long as you are there?

« Reply #19 on: April 29, 2018, 12:48 »
+1
Sounds a lot 100%, too good to be true?  Yes, the normal rate is 85% so you get given 15% on your first 500.  If you upload 5,000 photos that's a whole 15% of 10% and given that half your images wont sell, if any do, the enticement is 7.5%of 10% in this situation, much of which will be canabalised from other sources you sell from.  I think they need to increase that to at least 5,000 if they want to get anywhere near the inventory they need to compete.

I don't think your math or logic holds up.

First, you are not canabalising your other agencies.  Do you really think that someone will go to xxx agency, not see your specific photo, and then come to wherever you are so that they can buy your photo? No. They will buy whatever is the best fit at the agency they are currently in.  If your photo is not at that agency, you lose the sale. Period.  Thus, you either get the sale if you are in their game, or you don't when you are not in the game.

Second, you only get the 100% royalty on 500 images.  Presumably, you will know that, and thus upload your best sellers now for that first 500.  WeMark knows that, and wants exactly that, so that the best sellers are quickly added to their library. You (presumably) know that, and will put in the images now that will bring the most revenue.

Anything past that 500 is not relevant. You will get 85% of the buyer payment.  Do you know any other agency that pays that high a rate??  If not, then don't gripe that someone doing the marketing and infrastructure is taking 15%...  (Amazon takes 55% of the video sales I make there)

You might complain that WeMark has no customers yet.  Sure enough. Amazon didn't have any customers when they started approaching vendors to set up accounts to sell through them either. (I am not saying WeMark is a potential Amazon, but noting that EVERY company starts with zero, and then the successful ones build from there)

« Reply #20 on: April 29, 2018, 12:52 »
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Is the site open for business? I can't even see a search box!

No. The site is not yet open for business, as their site clearly states.  They are trying to get photogs to load up now, so that they have something to sell when the customers arrive.

ShadySue

« Reply #21 on: April 29, 2018, 13:15 »
+2
Is the site open for business? I can't even see a search box!

No. The site is not yet open for business, as their site clearly states.  They are trying to get photogs to load up now, so that they have something to sell when the customers arrive.
The site doesn't "clearly" state it on their homepage or about page.
In fact, on their home page, above the fold, there is a big heading saying, "License from top photographers" which implies that should be doable now.

« Reply #22 on: April 29, 2018, 13:24 »
+3
Hmmmm...sceptical.
They have marketing sussed? Then how come I only heard about them (here) today and the 500-pics deal runs out tomorrow?

« Reply #23 on: April 29, 2018, 13:48 »
0
The site doesn't "clearly" state it on their homepage or about page.
In fact, on their home page, above the fold, there is a big heading saying, "License from top photographers" which implies that should be doable now.

Gotta admit, it is not all that obvious. I did find it last night while checking them out, but had a hard time finding it again today.

I did find it though. The site officially starts May 7, as seen in this screenshot (from https://tge.wemark.com ) --

    https://www.dropbox.com/s/hc43thmqs7c23cw/WeMark%20Starts%20May%207.png?dl=0

« Reply #24 on: April 29, 2018, 13:50 »
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Hmmmm...sceptical.
They have marketing sussed? Then how come I only heard about them (here) today and the 500-pics deal runs out tomorrow?

Because they already landed 40,000 approved images in that deal, and I am guessing more than that over the weekend. They probably don't want TOO many images that will be royalty-free for life...  OTOH, they do want to build up a library large enough for their launch on May 7 to say they are a serious contender.


 

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