Istock being absorbed into Getty ...

[PixelBytes]

First step to your %20 flat rate.

I would like to see the rates go to 20%.  For me that would be an increase.  Will only work if they get rid of exclusivity tho. 

[PixelBytes]

Why not payout on the 7th instead of the 25th? Or even the 15th, no they want to hang on to our money as long as possible.

I didn't get the email either. Way to go.

I would like to be paid early also, but they don't finish with the PP, subs, Getty 360 sales for the last month until near the end of the next one, so they got no idea what to pay until then.

[tickstock]

The email should of just said we will follow US tax law, and not Inject one of several scenarios the law allows.

"As a U.S. company, Getty Images (US), Inc. is required to follow Internal Revenue Service regulations, therefore withholding taxes may apply to your payments beginning in early 2015."

I don't see any scenarios in the email, it looks like they said exactly what you wanted it to say.  Did you get a different email than me?

The opetive word is JUST.  Quit trying to defend a poorly structured email. I am saying they shouldn't have said we may take out taxes. That is inferred in the first statement. They may also have w8 ....where does it say that? It doesn't. That's my point.

I see you edited this after I responded.  I don't think I'm 'defending' anything, it seems like clear and simple language.  I guess not simple enough for some?  Is your point they shouldn't have said they may take out taxes even thought they may have to take out taxes? 
 I'm not sure I would infer that following US tax laws means anything, US tax laws are notoriously complex.  Are you sure you even need a w-8 from what was posted on the forums it looks like you just need to give them your tax identification number: 
"There is no documentation required to complete the tax interview. In the tax interview you provide your name, address, tell us your country, provide your tax identification number (either US or Foreign*) answer various questions by checking boxes, etc. it�s quite easy."

[MichaelJayFoto]

I am on Shutterstock, for video and I am waiting for my payment (they are the weakest of the sites I contribute to so I may drop them soon).  Still exclusive for photos at iStock.  I'm not sure if that is correct either.  Your balance changes when the PP and sub sales are counted.  They've said if you have $100 in your balance on the 25th then you will get paid.  Maybe I'm reading that wrong but it looks like as long as those sales are posted by the 25th you will get paid for them then.  If you can find something that contradicts that please post it, I don't think it's been clearly stated one way or the other.
Even if they do pay a month later that's 1 month and 25 days not 3+ months and 20 days like Sean was saying, I'm not sure what he's talking about?

If I read the statements made correctly, you are wrong in two aspects (I marked them):

First they are accounting until the last day of the month, so you have to reach the $100 before the 30th/31st of a month. This typically will include the GI Sales for the prior month.

But the second one is wrong as well as you are assuming that all sales would happen at the last day of a month. But the "average sale" happens at the 15th of a month. With all PP, Image Subscription and GI Sales, those sales are only reported in the following month and paid another month later. A sale* happening on March 15 will be reported and added to your balance in April which the is getting paid out on May 25th. This is 70 days.

In comparison, a sale happening on Shutterstock on March 15 will be paid out around April 7, that is 23 days. Getty keeps our money three times longer. In addition to already paying the lowest royalty percentage in the industry (at least in microstock).

There is no way you can turn all of this into something like "oh, everyone else is doing it similarly".

(* I need to add that if we are talking about GI Sales, there already can be a delay of up to three months from a customer starting to use the image before the sale is being reported as Getty is giving their big customers quarterly invoicing. But that is a different issue and did not change with the upcoming new system)

[PixelBytes]

iStock doesn't report the bulk of sales (PP, subs, etc.) until the end of the following month, weeks after you've already been paid by Shutter. And now they'll make you wait until the end of the month after that to get paid.

Oh!  I misunderstood.  I thought we would get paid on the 25th for all sales of the last month including PP etc.  They are making us wait longer than that??!!

I just read MichaelJay's post above and now I am thoroughly confused. 

[tickstock]

I am on Shutterstock, for video and I am waiting for my payment (they are the weakest of the sites I contribute to so I may drop them soon).  Still exclusive for photos at iStock.  I'm not sure if that is correct either.  Your balance changes when the PP and sub sales are counted.  They've said if you have $100 in your balance on the 25th then you will get paid.  Maybe I'm reading that wrong but it looks like as long as those sales are posted by the 25th you will get paid for them then.  If you can find something that contradicts that please post it, I don't think it's been clearly stated one way or the other.
Even if they do pay a month later that's 1 month and 25 days not 3+ months and 20 days like Sean was saying, I'm not sure what he's talking about?

If I read the statements made correctly, you are wrong in two aspects (I marked them):

First they are accounting until the last day of the month, so you have to reach the $100 before the 30th/31st of a month. This typically will include the GI Sales for the prior month.

But the second one is wrong as well as you are assuming that all sales would happen at the last day of a month. But the "average sale" happens at the 15th of a month. With all PP, Image Subscription and GI Sales, those sales are only reported in the following month and paid another month later. A sale happening on March 15 will be reported and added to your balance in April which the is getting paid out on May 25th. This is 70 days.

In comparison, a sale happening on Shutterstock on March 15 will be paid out around April 7, that is 23 days. Getty keeps our money three times longer. In addition to already paying the lowest royalty percentage in the industry (at least in microstock).

There is no way you can turn all of this into something like "oh, everyone else is doing it similarly".

Do you have a quote, I haven't looked too closely to see what the cut off dates are for payments.  That was my question originally.  I also wasn't saying everyone else does it so it's ok, I was disagreeing that it will take 4 months for payments to be made (as Sean was saying, 3+months and 20 days I think is what he said).  I think everyone else doing it is bad for contributors too, maybe some places do it to less of a degree but I still would rather get paid as soon as possible.

[MichaelJayFoto]

Do you have a quote, I haven't looked too closely to see what the cut off dates are for payments.  That was my question originally.  I also wasn't saying everyone else does it so it's ok, I was disagreeing that it will take 4 months for payments to be made (as Sean was saying, 3+months and 20 days I think is what he said).  I think everyone else doing it is bad for contributors too, maybe some places do it to less of a degree but I still would rather get paid as soon as possible.

Maybe start with the very first point in the FAQ: http://www.istockphoto.com/forum_messages.php?threadid=364057&page=1

[tickstock]

Do you have a quote, I haven't looked too closely to see what the cut off dates are for payments.  That was my question originally.  I also wasn't saying everyone else does it so it's ok, I was disagreeing that it will take 4 months for payments to be made (as Sean was saying, 3+months and 20 days I think is what he said).  I think everyone else doing it is bad for contributors too, maybe some places do it to less of a degree but I still would rather get paid as soon as possible.

Maybe start with the very first point in the FAQ: http://www.istockphoto.com/forum_messages.php?threadid=364057&page=1

Well there you go, I guess we'll be waiting a while for those sales to be paid out.

[Freedom]

As much as I resent Getty, I must admit Alamy is much worse in delaying payments.

Out of curiosity, how often do contributors get paid by Stocksy? Every week?

[MichaelJayFoto]

As much as I resent Getty, I must admit Alamy is much worse in delaying payments.

Out of curiosity, how often do contributors get paid by Stocksy? Every week?

Monthly. And I typically have the money in my bank account on the third business day of the followin month.

[Nikovsk]

Last month FT was ahead of IS for the first time, mostly because Istock PP is going downhill.

Lost all my hope for DT though.

[Justanotherphotographer]

Last month FT was ahead of IS for the first time, mostly because Istock PP is going downhill.

Lost all my hope for DT though.

Opposite for me, DT is steadily increasing with FT steadily decreasing. All in the context that I upload like crazy and work 7 days a week.

[borg]

What I told you several years ago! Istock will vanish through time..

[WendyT]

The way I understand it is that no withholding tax is taken out if you are a US citizen and fill out the required W8 form.
For myself, I am in a treaty nation and I fill out the W9 form and pay 5% ... the important thing to remember here is that it is only 5% of my income on sales to US customers, overseas sales are not taxed. So if I sell something for $1.50 to someone from Europe .. zero tax, someone in the US I pay 8c tax.

As for payments of I use this month as an example:
Anything up to and including the last day of this month will be paid on the 25th of next month.
PP and subs I earned this month are not added in general until the last few days of next month (generally after the 25th, occasionally before). Therefore these will be added AFTER the cut off for payment next month so will not be paid till the 25th of the following month. So in some cases these downloads are paid into our accounts nearly 3 months later than they occurred.
EG: a sub sold on the 2nd January, is reported to your account on the 28th February, Paid out on the 25th March.

I am guessing that being paid out monthly is probably to comply with IRS rules and is probably easier for the accountants. Things being reported in real time with more transparency would certainly be beneficial.

[Batman]

Why not payout on the 7th instead of the 25th? Or even the 15th, no they want to hang on to our money as long as possible.

I didn't get the email either. Way to go.

Because IS is incompetent and unable to process sales for 30 days or more sometimes. They have to delay payments up to 45 days, and hold on to our money as long as possible. Nothing like SS that reports sales the same day and pays first week of the following month.

[landbysea]

This whole conversation is dumb. Most of us know what the tax law  is and how it applies. If you don't ask your accountant. It's that simple. They simply are giving fair warning. I guess there are some scenarios where taxes are withheld. I know it doesn't apply to me.

[borg]

Why not payout on the 7th instead of the 25th? Or even the 15th, no they want to hang on to our money as long as possible.

I didn't get the email either. Way to go.

Because IS is incompetent and unable to process sales for 30 days or more sometimes. They have to delay payments up to 45 days, and hold on to our money as long as possible. Nothing like SS that reports sales the same day and pays first week of the following month.

Money on their account for a longer period mean more bank interests in Getty's pocket! One way more to earn extra money, and how to show themselves as a "solvent" company with lot of cash due to their rating on stock market...
So conclusion is that Getty doesn't see us as their Partners in any way... We work more for them than for ourselves just because of "a thought", it is easier than digging channels in dirt...

[PhotoBomb]

Why not payout on the 7th instead of the 25th? Or even the 15th, no they want to hang on to our money as long as possible.

I didn't get the email either. Way to go.

Because IS is incompetent and unable to process sales for 30 days or more sometimes. They have to delay payments up to 45 days, and hold on to our money as long as possible. Nothing like SS that reports sales the same day and pays first week of the following month.

Money on their account for a longer period mean more bank interests in Getty's pocket! One way more to earn extra money, and how to show themselves as a "solvent" company with lot of cash due to their rating on stock market...
So conclusion is that Getty doesn't see us as their Partners in any way

We aren't and never have been 'partners'.
They are a business!
You are a business!
It's their job to make money for themselves.
It's your job to make money for your business. How you do that is solely up to you.
Expecting iStock or any MS Site to help you is naive.

But totally agree with your first sentence.
"Money on their account for a longer period mean more bank interests in Getty's pocket!"
There are also other costs involved with paying on demand as opposed to the new method.
This will save them millions in the long run.

[bunhill]

Money on their account for a longer period mean more bank interests in Getty's pocket! One way more t earn extra money, and to show themselves as a solvent company with lot of cash because of their rating on stock market...
So conclusion is that Getty doesn't see us as their Partners in any way

They are a private company - they are not on the stock market.

If they did ever manage to get the company into consistently good enough shape for an IPO to be taken seriously - I do not see how this would make any difference to the amount of cash they have in hand. Think about how flow works. They are not changing the total rate of flow. And the accounting would be transparent anyhow. Conclusion - this is a conspiracy theory.

I agree however that they are likely trying to add value by gradually getting the company into better shape. Probably (maybe) ultimately for an IPO. I am sure they would love that - but who knows whether conditions will be suitable again anytime soon. Although I cannot see any other reason why they would possibly want it to be consolidated in the USA if it were going to remain private. The US seems like a crazy place for a revenue based virtual business to be based otherwise.

I think that Shutterstock were very lucky with their timing. Sentiment is very different today and these people do not seem to have the same momentum behind them today. I cannot see an IPO exciting so much interest today.

[Hobostocker]

istock is now officially a laughing stock !

[sharpshot]

istock is now officially a laughing stock !

That became official years ago.