pancakes

MicrostockGroup Sponsors


Author Topic: Is there any hope for iStockphoto?  (Read 16925 times)

0 Members and 2 Guests are viewing this topic.

Noodles

« on: October 13, 2011, 17:17 »
0
These US data stats are looking dire for iStock  http://siteanalytics.compete.com/istockphoto.com/

Up until July/August I was averaging okay but now I'm down to 50% of average and its getting quite depressing. I'll hold out until Xmas but if things don't change I'm handing my crown in.


« Reply #1 on: October 13, 2011, 17:25 »
0
No hope left for iStockphoto. If they are looking for someone to blame, they should just look into a mirror.

nruboc

« Reply #2 on: October 13, 2011, 17:30 »
0
There's a lot of hope for IStockphoto, the contributors....not so much

« Reply #3 on: October 13, 2011, 19:24 »
0
Great news! I wish them all the worst  :D

« Reply #4 on: October 14, 2011, 04:08 »
0
I really hope all their problems are caused by the commission cuts and the way they have treated buyers.  The only way back would be for them to change their strategy.  It would show other sites that cutting commissions isn't the way to go.

I stopped uploading for almost a year, removed any link I could find to the site, stopped managing my public light boxes and drastically cut down the number of times I visit the site.  I'm sure individuals doing that makes no difference but I really hope that when a significant proportion of us change the way we use a site, it does make a difference.

« Reply #5 on: October 14, 2011, 06:03 »
0
I stopped uploading for almost a year, removed any link I could find to the site, stopped managing my public light boxes and drastically cut down the number of times I visit the site.  I'm sure individuals doing that makes no difference but I really hope that when a significant proportion of us change the way we use a site, it does make a difference.

I do exactly the opposite and seems help it a lot.

« Reply #6 on: October 14, 2011, 13:59 »
0
I stopped uploading for almost a year, removed any link I could find to the site, stopped managing my public light boxes and drastically cut down the number of times I visit the site.  I'm sure individuals doing that makes no difference but I really hope that when a significant proportion of us change the way we use a site, it does make a difference.
I have done exactly the same thing, and it has made a great difference, to me. My sales are way up year over year, and my outlook on life is much improved by not having to deal with iStock, the Soviet Union of Microstock.

jen

« Reply #7 on: October 14, 2011, 16:02 »
0
You know that these are only estimates, right?  Compete makes estimates based on 2,000,000 people's internet browsing habits in the US.  Since a big portion of iStock's income comes from overseas I wouldn't base such a huge business decision on one website's estimates.  If your sales have tanked, well, that's another thing.

lisafx

« Reply #8 on: October 14, 2011, 16:17 »
0
You know that these are only estimates, right?  Compete makes estimates based on 2,000,000 people's internet browsing habits in the US.  Since a big portion of iStock's income comes from overseas I wouldn't base such a huge business decision on one website's estimates.  If your sales have tanked, well, that's another thing.

Those stats are most credible and useful when taken as one piece of the picture, along with your own sales, stats threads, and other anecdotal info.  When your sales numbers, widespread opinion, and the analytics sites match up, then it does suggest (though admittedly not prove) a connection. 

« Reply #9 on: October 14, 2011, 16:27 »
0
... my outlook on life is much improved by not having to deal with iStock, the Soviet Union of Microstock.

That's what it came down to for me. Not enough return to justify the overall hassle, plus I got the feeling that things were only going to continue getting worse, forever.  I quit submitting.  
« Last Edit: October 14, 2011, 21:09 by stockastic »

« Reply #10 on: October 14, 2011, 16:30 »
0
...Since a big portion of iStock's income comes from overseas I wouldn't base such a huge business decision on one website's estimates.  ...


I doubt there's data to back that assumption up, but I too would have once said that a good portion of iStock's business came from outside the US (although every time I've seen iStock rank money from markets, I believe the US has been at the top of the list).

Based on the time of day I see sales show up (or not) in the last month or two, I am not seeing anything like the overnight activity (I'm west coast US, so when I start, Europe's business day is mostly done) I used to. I don't know if the reporting is delayed more than it used to be and so this is just anecdote too, but it does seem to be a noticeable change in my patterns.

SS reports non US vs US sales for the monthly totals (and doesn't break it down further). I was surprised to see that the US is about 40% of my monthly total - surprised but pleased that non-US sales were that substantial. Once upon a time FT had a huge proportion of its sales from Europe; I believe Germany was a particular stronghold. I don't have any recent insight as I don't sell there.

« Reply #11 on: October 14, 2011, 16:40 »
0
I won't say that my overseas sales are tanked, actually I get more overnight sales than ever, while my US sales are not that great. However, it also depends on your contents, too. My port includes travel photos from overseas.

« Reply #12 on: October 14, 2011, 16:43 »
0
It is very simple - if the stats on Alexa or compete did not affect sales or turnover - istock would certainly say so.

Someone would get on the forum and post -"no problem, we have increased our sales and are now paying our artists 30% more royalties than last year" or something like that.

And obviously such an upswing in new customer traffic or spending would get reported in the monthly sales thread. Like it used to be just over a year ago.

Many exclusives are following these stats, it is very painful to see our agency drop. It is obviously bad for the companies reputation to not be perceived as the No1 in traffic.

istock must have a department that does nothing else but watch the position on these sites, the results of google image searches, general seo optimization etc..

So either, for some reason we dont understand the drop is a result they wanted...some people are suggesting this is in line with trying to reach out to only the high paying clients...or there is a serious problem. And I hope it is being worked on.

istock is a huge company and they have been through all kinds of swings, it always was like a rollercoaster. So I am sure if they really want to be the undisputed No1 in traffic, they can be if they work on it.

« Reply #13 on: October 14, 2011, 17:09 »
0
You know that these are only estimates, right?  Compete makes estimates based on 2,000,000 people's internet browsing habits in the US.  Since a big portion of iStock's income comes from overseas I wouldn't base such a huge business decision on one website's estimates.  If your sales have tanked, well, that's another thing.

Oh I see. So it might only be US customers that have changed their 'browsing habits'? That's OK then.

We'll know if Istock are growing because they'll have to increase the RC targets ... but that's probably never going to happen. So we have an ever-growing number of contributors ... with ever-growing portfolios ... fighting over an ever-diminishing number of total sales. Probably.

ShadySue

  • There is a crack in everything
« Reply #14 on: October 14, 2011, 18:12 »
0
istock must have a department that does nothing else but watch the position on these sites, the results of google image searches, general seo optimization etc..
It's a shame they only watch the stats without asking themselves 'Why'? and doing something about it. Stats are only useful as data for analysis.

« Reply #15 on: October 14, 2011, 22:11 »
0
I wonder what the end plan for iStock is in the Getty Universe.  I am guessing in Microstock they will probably concede and move to midstock.  I cant be to happy by the RC cut and the decreasing sales.   

With the mirrored content on partner sites based on lower cost it seems iStock could just survive as a cream of the crop image hosting site "Vetta, Agency" while 90% of the images leave and only prove available on lower cost pp sites.     

What is the possibility they turn the tide for the better and start fixing the bad decisions made since last year regarding contributors?   

I have no clue what the survey answers from thousands of us concerned might or might not do to change things.  My guess is they might be swiped under the rug, I hope that's not the case but considering the time it sure seems they will be useless stored data in a few months. 

Netflix got to feel the wrath of customers and iStock seems to be according to that US graph, not that far from the realization that they squandered the good will and loyalty of their customers and contributors for short term profit sheets.   I hope I'm wrong and this is just all based on a bad economy manifesting itself.  :-\

Noodles

« Reply #16 on: October 15, 2011, 00:22 »
0
I like iStockphoto. I want them to succeed. I'm not against mid-stock and I support sensible plans to increase the value of our work. I do not like subscription selling by anyone! I think it will destroy Microstock (as we know it now).

Everything is so blurry right now -  its very frustrating as these past two days have seen great sales! But those US stats still look scary to me.

« Reply #17 on: October 15, 2011, 01:26 »
0
I like iStockphoto. () I do not like subscription selling by anyone! I think it will destroy Microstock (as we know it now).
Since when did Thinkstock (where all our images forcibly will be "mirrored") turn into an RM site?  ;)
« Last Edit: October 15, 2011, 01:55 by AttilaTheNun »

Cogent Marketing

« Reply #18 on: October 15, 2011, 01:35 »
0
I think that graph says everything for observers of business performance. If ever a company's unprofessional attitude toward it's suppliers and customers had come back and bitten them in the ***, there's your proof.

Completely self-inflicted and completely deserved. That's what happens when you put amateurs in charge of your business and allow unqualified admins to make day to day decisions well above their pay-grade. A recipe for disaster every time.

The other microstock sites must be laughing their heads-off at iSP's capitulation. They are getting market share increases everyday without having to do anything more what they have always done, treating their customers and suppliers professionally.

« Reply #19 on: October 15, 2011, 02:33 »
0
"I wonder what the end plan for iStock is in the Getty Universe. "

That is the question everyone is asking. Do they want to be a small boutique agency for ultracool V/A stuff at higher prices, sort of a "Gettylight"? Then the drop in traffic is to be expected. They would only want a tiny market share for that.

Or do they want to go back to be the 800 Pound Gorilla on the market and like ebay be a place where you can find images at all price levels?

What I dont understand is why they didnt keep the high volume and their market position and just continue to cater for V/A clients at Getty or the many other midstock Getty agencies?

Since the management doesnt publicly discuss  their intended target group with the contributors (which is pretty strange for a community driven site) the stats on Alexa and Compete are the only independet resource the members have to see where the agency is heading.

I wish we could at least get an interview with Rebecca posted somewhere where she explains what the target group for istock is - mass market, boutique agency for midstock clients or do they want to return to their former dominating market position?

Surveys are a useful tool, but a community driven site lives from active interaction of all players.

« Reply #20 on: October 15, 2011, 03:07 »
0
...Do they want to be a small boutique agency for ultracool V/A stuff at higher prices, sort of a "Gettylight"? Then the drop in traffic is to be expected. They would only want a tiny market share for that...
I think that must be what they want.  Istock was damaging Getty, so perhaps they thought that moving istock out of microstock would improve the prospects of Getty?  The big flaw in that strategy is that it appears that Shutterstock has now become much stronger.  I also can't understand the lack of tact with many buyers and contributors in their forum.  Those people aren't going to be big fans of Thinkstock, they are going to use their rival sites.  That's something that they could of addressed a long time ago but they have done nothing about it.  If they really wanted Thinkstock to do well, they could of matched the $0.30 subs we were getting with Stockxpert but they couldn't even do that.  There has to be some incentive to supply Thinkstock but there really wasn't one.  Now they have been forced in to making non-exclusive istock contributors supply Thinkstock but that's another huge gamble.  If istock earnings continue to decline for non-exclusives, it's going to be much easier to leave.  It looks like desperation.

I can't see how whoever is in charge has done a good job in the past few years.  I hoped something might change by now but it looks like they're going to carry on losing market share to Shutterstock.  It really does baffle me but I suppose many market leaders have fallen in the past and this shouldn't be a big surprise.
« Last Edit: October 15, 2011, 03:09 by sharpshot »

« Reply #21 on: October 15, 2011, 03:59 »
0
Quote
which is pretty strange for a community driven site

IS ceased to be community driven ( if they ever truly were) when Getty took over.

fujiko

« Reply #22 on: October 15, 2011, 04:03 »
0
iStock is going to be Fried in Hell.

Slovenian

« Reply #23 on: October 15, 2011, 04:10 »
0
Quote
which is pretty strange for a community driven site

IS ceased to be community driven ( if they ever truly were) when Getty took over.

Indeed I was scratching my head while reading it. I can't believe anyone still believes in that. It's forums are ruled with an iron fist and there's nothing going on besides non-exclusives and exclusives attacking each other. They can't even join forces in the monthly stats thread...

« Reply #24 on: October 15, 2011, 06:35 »
0
Surveys are a useful tool, but a community driven site lives from active interaction of all players.

sweet dreams :) It's stopped being community driven long time ago!

They underestimated the power of "word-of-mouth" and now they are getting killed by it because everybody is trying to convert IS customers into customers of other sites including me :) Why would I want any designer friend of mine to shop at IS while they pay me %17

IS is beyond joke and you exclusives are just funny...


 

Related Topics

  Subject / Started by Replies Last post
4 Replies
3027 Views
Last post September 21, 2009, 16:12
by Dan
234 Replies
38489 Views
Last post March 21, 2012, 22:34
by RacePhoto
0 Replies
3319 Views
Last post August 18, 2014, 08:51
by whatwolf
0 Replies
1549 Views
Last post April 26, 2015, 17:58
by Asthebelltolls
32 Replies
17329 Views
Last post May 25, 2015, 12:20
by dpimborough

Sponsors

Mega Bundle of 5,900+ Professional Lightroom Presets

Microstock Poll Results

Sponsors