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Author Topic: New Vetta pricing and royalty rates in effect today  (Read 11538 times)

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lisafx

« on: September 27, 2010, 16:32 »
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Per Rogermexico in Istockphoto's forums:

Vetta photographs are now priced:
Size Price
Small 30 credits
Medium 50 credits
Large 70 credits
XLarge 100 credits
XXLarge 125 credits
XXXLarge 150 credits

The new royalty rates are
Bronze: 22%
Silver: 24%
Gold: 26%
Diamond: 28%
Black Diamond: 30%

That royalty is based on your current canister level and will stay the same until the further royalty changes go into effect in January.

Here's the whole post buried in the marathon thread:
http://www.istockphoto.com/forum_messages.php?threadid=253522&messageid=4859201

I guess I am confused why this had to be implemented now instead of waiting until January?   Particularly the lower royalty percentages for exclusives contributing to Vetta.  Seems like they should have been given their contracted canister rate through the end of the year... ???


« Reply #1 on: September 27, 2010, 16:35 »
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Because they can.

jen

« Reply #2 on: September 27, 2010, 16:37 »
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They need to make a friggin announcement already.  The complete lack of communication from management is shady and obnoxious. 

lisafx

« Reply #3 on: September 27, 2010, 16:38 »
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I also just noticed a post in the istockphoto thread mentioning that buyers had been promised Vetta prices would not be raised this year. (maybe you are the same Jen that posted that? ) 

I hadn't remembered that.  Guess I didn't pay much attention because as a non-exclusive I don't qualify for Vetta.

Does anyone have a link to that promise?  

Seems like a way to lose faith with even more buyers.  

jen

« Reply #4 on: September 27, 2010, 16:41 »
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I also just noticed a post in the istockphoto thread mentioning that buyers had been promised Vetta prices would not be raised this year. (maybe you are the same Jen that posted that? ) 

I am the same Jen!

Here is the link: http://www.istockphoto.com/forum_messages.php?threadid=151691&page=1

Vetta collection
We've been really happy so far with Vetta, our premium collection of unique, hand-picked files that meet our strict standards of exquisite art direction, intelligent concepts and rarity. We plan to keep growing Vetta and have it represent about 1% of the overall library. Vetta prices are staying the same in 2010.

lisafx

« Reply #5 on: September 27, 2010, 16:42 »
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Thanks a lot for posting the link and quote Jen, and good for you for bringing it up in the first place :)

donding

  • Think before you speak
« Reply #6 on: September 27, 2010, 16:44 »
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Sounds like another act of deceit and unkept promises by a forked tongued serpent with the name of iStock.!

« Reply #7 on: September 27, 2010, 16:52 »
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Does this seem familiar?

« Reply #8 on: September 27, 2010, 17:01 »
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I guess I am confused why this had to be implemented now instead of waiting until January?   Particularly the lower royalty percentages for exclusives contributing to Vetta.  Seems like they should have been given their contracted canister rate through the end of the year... ???

Because they're untrustworthy, greedy, exploitive *insult removed*.

« Reply #9 on: September 27, 2010, 17:16 »
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Dawn (pink_cotton_candy) just made an angry post about the complete lack of communication with buyers about the  Vetta price increases. Given the enormous fuss over the price changes in existing files when Vetta was introduced, you'd think the basics of communicating with your customers would have been digested by now. But no.

Even if you hadn't stated that prices wouldn't go up (which is bad enough), failing to give buyers notice about what you're doing is just poor business practice.

I've sent a ticket to contributor relations to get my Vetta files back into the main collection - I was going to do it before they got shipped off to Greedy Getty anyway, but I just couldn't stomach doubling the prices for no (defensible) reason. I want to make money, but I want to have buyers of my work feel that they have been treated fairly. Don't know how long it'll take to get that accomplished - it's pretty obnoxious that you can no longer do this yourself.

And any exclusives should look at the new text that says you're committing to Vetta for 6 months (like exclusive plus) - that used not to be there.

« Reply #10 on: September 27, 2010, 17:17 »
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Looks like another istock mistake.  Saying prices will stay fixed then raising them.  How many is that in the past few weeks?  They need to make some changes to stop this happening all the time or their reputation is going to keep sinking.

lisafx

« Reply #11 on: September 27, 2010, 17:27 »
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Snip

Even if you hadn't stated that prices wouldn't go up (which is bad enough), failing to give buyers notice about what you're doing is just poor business practice.

Snip

And any exclusives should look at the new text that says you're committing to Vetta for 6 months (like exclusive plus) - that used not to be there.

It would seem fair to have given buyers advanced notice so they could buy any Vetta images they had lightboxed.   Between that and raising the prices after stating they wouldn't, it seems like they no longer care about alienating Istockphoto buyers.  Perhaps they are hoping to make it up with Getty buyers?  Seems very short term thinking.

On this 6 month hold on Vetta and E+ images, would that prevent exclusives from dropping the crown for 6 months, instead of the current 30 day wait? 

« Reply #12 on: September 27, 2010, 17:40 »
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..snip...

On this 6 month hold on Vetta and E+ images, would that prevent exclusives from dropping the crown for 6 months, instead of the current 30 day wait? 

I am pretty sure this has been asked a few times already and not answered.  but would be good to know.  My guess is that if you drop exclusivity then all those "locked files" just automatically drop out of exclusiveness.  but they could leave your files there and let you and the rest of your unlocked files drop out.

you know this latest communication faux-pas from iStock really makes me have second thoughts on dropping exclusivity --- I should have done SOONER!  21 days and counting...

« Reply #13 on: September 27, 2010, 17:43 »
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And any exclusives should look at the new text that says you're committing to Vetta for 6 months (like exclusive plus) - that used not to be there.

...On this 6 month hold on Vetta and E+ images, would that prevent exclusives from dropping the crown for 6 months, instead of the current 30 day wait? 


No, I don't think either have any effect on dropping exclusivity.

What it does mean is that you can't move it out of Vetta into the main collection for that period of time. If it didn't sell at the new stratospheric prices, for example, and you'd rather try and sell it at a lower price point.  There had been many complaints from exclusives for whom E+ wasn't working well that they were stuck with their files in the new collection for months and they weren't happy (for some, they put best sellers in there and they slowed down or stopped). I'd expect something similar if the new higher prices slow down Vetta sales.

ShadySue

« Reply #14 on: September 27, 2010, 17:45 »
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Looks like another istock mistake.  Saying prices will stay fixed then raising them.
That's kind.
In my book, it's a blatant lie.
More trust broken.

« Reply #15 on: September 27, 2010, 17:50 »
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Jawdroppingly bad management. The saga never seems to end over there. And for PCC to be pissed, well, that says something.

PaulieWalnuts

  • You talkin' to me?
« Reply #16 on: September 27, 2010, 17:53 »
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Looks like another istock mistake.  Saying prices will stay fixed then raising them.
That's kind.
In my book, it's a blatant lie.
More trust broken.

Sounds kind of like a bad relationship about to break-up.

lisafx

« Reply #17 on: September 27, 2010, 17:56 »
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OT - Loved your guest starring gig on The Medium, Paulie ;D

« Reply #18 on: September 27, 2010, 18:13 »
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OT - Loved your guest starring gig on The Medium, Paulie ;D

I know, that was hilarious.

Back on topic,

Quote
Between that and raising the prices after stating they wouldn't, it seems like they no longer care about alienating Istockphoto buyers.

Yeah, I sure don't get it.

« Reply #19 on: September 27, 2010, 18:13 »
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Jentakespictures asked a question over at iStock: "IMO Vetta needs to be explained more clearly in general. Does the average buyer even know what Vetta is?" and since I can't post there to answer it, I'll answer it here. And that answer would be "no". In fact, I was just talking to someone who I had recommended the site to pre-Vetta and she was commenting on how the prices were so expensive. "A small for 20 credits?!" I explained to her about Vetta and then told her about some of the other sites.

donding

  • Think before you speak
« Reply #20 on: September 27, 2010, 19:03 »
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Personally if I wasn't familiar with iStock and I was a new buyer looking for images....I wouldn't know anything about Vetta or what all those crowns and canisters below the pictures were for...I would probably look at the prices and move on. I don't think a lot of people understand what Vetta is and therefore are put off by the higher prices..

« Reply #21 on: September 27, 2010, 19:59 »
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Just sent a request in to have mine removed too, Didn't have too many in there, but it's time for them to be put back into the main collection.

« Reply #22 on: September 27, 2010, 20:15 »
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And they've started uploading Agency stuff again - Dorling_Kindersley illustrations.

Here were the two I noticed browsing recent uploads - one two

Nice illustrations, but not worth the stratospheric price, IMO.

« Reply #23 on: September 27, 2010, 20:41 »
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those are a lot better than the rejected images uploads. I have found my E+ files sell well, and I put bestsellers in E+ too. Vetta sales have increased too, so probably more visibility. I have done a bazillion searches throughout the day because the posts today have made it sound like the best match returns are Vetta saturated...not so at all. all I can say is thank goodness the 'statisticians' here are not scientists. every search I've returned using random keywords, including big ones like 'business', 'family' and so many others I can't remember them all. the returns are a balanced mix of Vettas, flames, newer uploads and files that seem to be newer well-selling files etc.

nothing much different from the search returns before the new Vetta pricing took effect today.

« Reply #24 on: September 27, 2010, 20:50 »
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Changes to the search engine take 24-48 to show up fully, or some such.

Microstock InsiderPhotoDune

 

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