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Author Topic: iStock Royalty Change  (Read 114180 times)

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« Reply #100 on: October 25, 2016, 17:13 »
+10
Refund here too. 18 cts. Istock in a nutshell: send out some horrible news and just when contributors think it couldn't get worse, throw in some refunds to make sure there's no goodwill left.


« Reply #101 on: October 25, 2016, 17:14 »
+39
The idea that this announcement is in any way positive (for anyone other than Getty, although I believe in the long run they're not helping themselves either) is a joke.

Beyond all the comments covered already, I didn't see anyone mention that iStock subscriptions have a rollover, so the idea that payouts will be above the minimums is not realistic. Buyers will generally be using all their downloads.

"*Up to 250 unused downloads can be rolled over month to month for annual subscriptions or any other auto-renewed subscriptions. If you don't auto-renew your subscription, you will lose any unused downloads when your subscription term ends (including accrued rollover downloads, if any)."

The minimum prices per file of 10 cents for indies and 75 cents or $4.15 for exclusives are low. What I keep hearing is that an increasing proportion of sales are subscriptions, so offering the small sweetener to exclusives of including subs downloads in the RC-replacement scheme doesn't amount to much.

There is clearly no good news of any kind for indies. And the point is well taken that the other agencies will certainly claim that they need to cut royalties to stay competitive if iStock just keeps on * (forum zapped what I wrote.  t-r-u-c-k-i-n-g, isn't a swear word, but apparently "keeps on t-r-u-c-k-i-n-g" is on the no-no list?) after this nuclear detonation.

I already all but left iStock over the Google-Getty deal in 2013, but if I hadn't, I'd be gone November 25th.

For anyone who thinks Shutterstock's 38 cents for a subscription download is a travesty, what does 2 cents from iStock say (with no chance of that ever going up if you remain an independent)?

Getty clearly wants the freedom to discount subscriptions heavily to try and goose sales. They can't do that with a flat rate royalty (without spending money on the promotions).

Today: buyer pays $149 for Essentials 100 and iStock keeps up to $121 of the cash. December: iStock keeps up to $147 of the cash. Why wouldn't they love this deal?

I guess exclusives will know just how much of a mess they're in once they see their 2017 royalty rates. One detail I didn't think was clear in the e-mail was whether the double count for Signature+ downloads applied if they were subscription downloads or only credit. Quite why Thinkstock and the API downloads were excluded (other than to try and keep exclusive rates down) isn't clear.

I think there's a very real potential for Getty's last ditch effort to revitalize themselves may end up dragging us all down the royalty sinkhole  - unless iStock loses a significant amount of indie content as a result of this change
« Last Edit: October 25, 2016, 18:28 by Jo Ann Snover »

« Reply #102 on: October 25, 2016, 17:20 »
+2
I will not load to Getty/iStock because it is them who are driving down prices especially in the 4k market.
I hate to contradict you, but it is not them driving the video price down and not even Envato.
Have you heard of an agency with a membership plan that gives away excellent clips (with a choice of 200.000) for next to nothing, without paying any royalties on them?

By the way I am glad I never decided to upload any footage at this lousy istock

« Reply #103 on: October 25, 2016, 17:27 »
+13
Enough is enough! It was very hard for me to swallow $0.28/subs sales, but I was afraid to lose 20% of my income! With today's "positive" news I've reached my breaking point! I'm out of there!
On top of everything else I recieved 8 refunds (so far) today for $0.15; $0.18; $0.24; $0.59 (at 17%)! I don't even knew they are paying me so small commissions!
I just started to delete my files (it's working)! I'll leave my empty account just in case some real professionals buy IS and I decide to work with them!


lemonyellow

« Reply #104 on: October 25, 2016, 17:28 »
+14
This announcement closely followed by a flurry of refund emails. I hate IStock.

These are the positive news: the next refunds will only be for 2 cents.

« Reply #105 on: October 25, 2016, 17:31 »
+7
Envato sells at a cheap price from the start. Getty/iStock makes money off the backs of their workers and has accounting make new schemes to make the company more money. when I sell my work on Adobe or P5 or other places I know exactly what I am getting per sale. No games.

« Reply #106 on: October 25, 2016, 17:36 »
+8
They have removed any reason to upload content... ever again.  Will remove my portfolio if 2 sales become common. 
« Last Edit: October 25, 2016, 17:39 by trek »

dpimborough

« Reply #107 on: October 25, 2016, 17:52 »
+8
Seeing as they were stupid enough to leave the De-activation function active (couldn't even get that right  ::) )

I'm de-activating my images

« Reply #108 on: October 25, 2016, 18:06 »
0
I also have gotten a refund announcement- never ever had one before.   Why are they all coming at once?

Indies could always upload images there not accepted at other agencies....
« Last Edit: October 25, 2016, 18:28 by Hildegarde »

« Reply #109 on: October 25, 2016, 18:45 »
+1
The mood over in the Getty forums isn't too good, either. Lobo made a post about "clarifying"royalties but conveniently left out the rollover strategy.  And his calculations do not amount to 2 cents.  Pure block & tackle. I would post what he said but I am not allowed, so I encourage you to go over to the forums.


fritz

  • I love Tom and Jerry music

« Reply #110 on: October 25, 2016, 18:46 »
+15
Best way to delete account on iStock is to become exclusive with same files across all sites! It will take some time until....

« Reply #111 on: October 25, 2016, 18:47 »
+4
Best way to delete account on iStock is to become exclusive with same files across all sites! It will take some time until....

HA...I was going to suggest that but you beat me to it!! :)

« Reply #112 on: October 25, 2016, 19:56 »
+11
People deactivating indie content doesnt matter much, they factored that in.

But there is going to be a new wave of hardcore exclusives leaving. The people who really focus on istock/getty with truly interesting stuff.

istock is being killed off, my tiny ports at fotolia, pond5 and of course SS are way ahead of my income from istock, very sad.

Perhaps 2017 will be the year that dreamstime overtakes them.

Anyway, it is no real surprise, when they announced we cant deactivate, we all knew that what was coming would be very bad.
« Last Edit: October 25, 2016, 20:20 by cobalt »

« Reply #113 on: October 25, 2016, 21:13 »
+2
Just deleted Deep Meta.  Won't be needing that.  Talk about discouraging.  Would deleting my port even work or would they just continue to sell it on all  their other sites? :(

Moonb007

  • Architect, Photographer, Dreamer
« Reply #114 on: October 25, 2016, 21:40 »
+7
I guess this is how they are going to pay that 1 billion dollar lawsuit.  Well I stopped uploading a while ago because their painful key wording tool was not worth the $0.28 sub sales...now with $0.02 I don't know why someone would even bother with them.  I will leave the last 218 photo's just to see how common $0.02 sales are.

« Reply #115 on: October 25, 2016, 22:11 »
+1
So are exclusive subscription percentage rates the same as whatever credit rates they are currently on? I think that is what I'm reading?

Does anyone know how many exclusives are left on iStock?
« Last Edit: October 25, 2016, 22:13 by charged »

KB

« Reply #116 on: October 25, 2016, 23:07 »
+6
So are exclusive subscription percentage rates the same as whatever credit rates they are currently on? I think that is what I'm reading?
Yes, that seems to be correct.

Quote
Does anyone know how many exclusives are left on iStock?
I know of at least two (counting myself).

Will the last iStock exclusive please remember to turn off the lights?

« Reply #117 on: October 26, 2016, 00:02 »
0
is Partner Program royalty changes too?
because my biggest earning come from Partner Program

« Reply #118 on: October 26, 2016, 00:05 »
+4
And now the b@stards are up to their usual trick of cancelling all my GI sales for last month, chopping off half my revenue - without, of course, correcting the royalties graph, so it looks as if I'm being paid twice as much as I am. This happens so frequently that I'm really starting to have doubts about the legitimacy of their accounting (which I never had before). At a guess, somewhere between a quarter and a half of my Getty EL sales are subsequently cancelled, and they're now starting to scrap $1 ones, too.
Edit - I see I'm not the only one.  It now looks as if DT will beat iS and PP and GI combined for September and October. Well done GettyImages! I hope all your debts drive you out of business.
« Last Edit: October 26, 2016, 00:20 by BaldricksTrousers »

Johnski2015

« Reply #119 on: October 26, 2016, 00:14 »
+10
this is really sickening!

4 refunds too - so are the buyers returning images, and they waiting to buy at the new rate???

I smell a fish?
« Last Edit: October 26, 2016, 00:19 by Johnski2015 »

« Reply #120 on: October 26, 2016, 00:29 »
+1
I also got two refunds.. I stop uploading couple of months ago. I wonder what is the attitude of the biggest contributor of iStock regarding the "positive news".. They will do something about that considering that they have thousands of files there ?

 :-\

Chichikov

« Reply #121 on: October 26, 2016, 00:31 »
+1
This announcement closely followed by a flurry of refund emails. I hate IStock.

I have just get my first this morning in 5 years

Chichikov

« Reply #122 on: October 26, 2016, 00:40 »
+2
Best way to delete account on iStock is to become exclusive with same files across all sites! It will take some time until....

Ah ah, I will do that!!

« Reply #123 on: October 26, 2016, 00:42 »
0
The idea that this announcement is in any way positive (for anyone other than Getty, although I believe in the long run they're not helping themselves either) is a joke.

Beyond all the comments covered already, I didn't see anyone mention that iStock subscriptions have a rollover, so the idea that payouts will be above the minimums is not realistic. Buyers will generally be using all their downloads.

"*Up to 250 unused downloads can be rolled over month to month for annual subscriptions or any other auto-renewed subscriptions. If you don't auto-renew your subscription, you will lose any unused downloads when your subscription term ends (including accrued rollover downloads, if any)."

The minimum prices per file of 10 cents for indies and 75 cents or $4.15 for exclusives are low. What I keep hearing is that an increasing proportion of sales are subscriptions, so offering the small sweetener to exclusives of including subs downloads in the RC-replacement scheme doesn't amount to much.

There is clearly no good news of any kind for indies. And the point is well taken that the other agencies will certainly claim that they need to cut royalties to stay competitive if iStock just keeps on * (forum zapped what I wrote.  t-r-u-c-k-i-n-g, isn't a swear word, but apparently "keeps on t-r-u-c-k-i-n-g" is on the no-no list?) after this nuclear detonation.

I already all but left iStock over the Google-Getty deal in 2013, but if I hadn't, I'd be gone November 25th.

For anyone who thinks Shutterstock's 38 cents for a subscription download is a travesty, what does 2 cents from iStock say (with no chance of that ever going up if you remain an independent)?

Getty clearly wants the freedom to discount subscriptions heavily to try and goose sales. They can't do that with a flat rate royalty (without spending money on the promotions).

Today: buyer pays $149 for Essentials 100 and iStock keeps up to $121 of the cash. December: iStock keeps up to $147 of the cash. Why wouldn't they love this deal?

I guess exclusives will know just how much of a mess they're in once they see their 2017 royalty rates. One detail I didn't think was clear in the e-mail was whether the double count for Signature+ downloads applied if they were subscription downloads or only credit. Quite why Thinkstock and the API downloads were excluded (other than to try and keep exclusive rates down) isn't clear.

I think there's a very real potential for Getty's last ditch effort to revitalize themselves may end up dragging us all down the royalty sinkhole  - unless iStock loses a significant amount of indie content as a result of this change


Very well stated Jo Ann
And sorry for the over active langugae filter.  I'm pretty sure there is a catch all on that word.  l-u-cking would have the same problem. ;)

« Reply #124 on: October 26, 2016, 00:54 »
+7
I don't necessarily think other agencies will rush to adopt this approach as they don't have "Exclusives" to safeguard their supply of  new work..... and they'll see plenty of people (like myself) deleting their ports at iStock. It would be a massive risk.


 

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