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Author Topic: Was dropping iStock exclusivity worth it? Final words.  (Read 3518 times)

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« on: December 16, 2013, 07:25 »
-2
As announced over a year ago in this topic http://www.microstockgroup.com/general-stock-video/blogging-my-experience-on-dropping-istockphoto-exclusivity-contract/ I have dropped iStock footage exclusivity contract. If you are curious how did it work out for me, please visit my blog targoszstock.blogspot.com
« Last Edit: December 16, 2013, 07:28 by targoszstock »


« Reply #1 on: December 16, 2013, 12:29 »
+1
Thanks for the update.  I can imagine what a tough choice it was for you to make. Glad to hear it seems to be a good one for you.

lisafx

« Reply #2 on: December 16, 2013, 12:58 »
+16
"Final words"??  The only words I see here are an advertisement to drive traffic to your blog.   Maybe you could just tell us?  Since you felt it was important enough to start a topic about here? 

« Reply #3 on: December 16, 2013, 16:48 »
+2
"Final words"?? The only words I see here are an advertisement to drive traffic to your blog. Maybe you could just tell us? Since you felt it was important enough to start a topic about here?

There is a number of articles at my blog that tell my story of dropping exclusivity. The most recent one is in a way a conclusion. I believe all the information I shared exceeds in volume the appropriate forum post size.

I always felt the place for an article is a blog or a web page. Forum on the other hand is a place created for discussion and sharing opinions.

Therefore, as initially intended, I Invite everyone to share their doubts, questions, thoughts and experiences on the subject of dropping iStock exclusivity on this respective forum.

A good place to start the discussion is referring to all this somewhat private data and experience I have freely shared on my blog.

I posted similar posts in the past. Sharing my experience was welcome with appreciation. I am surprised this is not the case.

« Reply #4 on: December 17, 2013, 02:12 »
+4
There is a number of articles at my blog that tell my story of dropping exclusivity. The most recent one is in a way a conclusion. I believe all the information I shared exceeds in volume the appropriate forum post size.

Umm... maybe I did something wrong but I can not find any solid numbers of information in your blog that would allow me to make any conclusions if you are on a positive or negative trend overall. The most recent post only has a single chart without any legend explaining what the chart actually means. And the last "real" information seems to be dated from March 2013.

So... maybe you can tell me what exactly your experiences are? Both financially and the overall experience of going non-exclusive? I did the same last year and I'd be interested to see how others were experiencing it in the same phase.

BoBoBolinski

« Reply #5 on: December 17, 2013, 03:15 »
+1
It may also be worth pointing out you have an average of 16 sales a month at IS, so your experience may be very different to someone with higher sales.

« Reply #6 on: December 17, 2013, 04:07 »
0
It may also be worth pointing out you have an average of 16 sales a month at IS, so your experience may be very different to someone with higher sales.

Both of you are photographers. I suppose in your world about 20 sales is close to nothing. For non exclusive videographer with my portfolio size and type I think this is an average. That being said there is no two identical portfolios, so there is no two identical experiences.

Umm... maybe I did something wrong but I can not find any solid numbers of information in your blog that would allow me to make any conclusions if you are on a positive or negative trend overall.

"my overall income seems to be making up for the iStock loss. It is growing slowly but steadily, just as my portfolio is"

"over the last three years I was able to maintain pretty much a steady revenue per image per year"

This is the most solid information you can get. I hear people complain they are making less and less. I was able to keep the same level of average income per image (footage actually) as I have been making before going freelance. Since my portfolio is growing, my overall income i growing as well.  If your experience is or will be as mine, you know exactly what to expect. If I were thinking of dropping my exclusivity right now I would consider such insight much more valuable then "oh I am making 200$ more" which is useless if you do not take into account portfolio size and growth.

The most recent post only has a single chart without any legend explaining what the chart actually means. And the last "real" information seems to be dated from March 2013.

"The column graphs from my early posts tell the short term, monthly basis story. If you need perspective, my suggestion is to make a spreadsheet with your income for every given month since the beginning of your microstock adventure. Then make the calculation how much did you make for the past year out of each months point of view. This is how it looks for my iStock sales only"

I realize this may seem a little confusing to some. The column graphs which you call a real information were not good enough for me, that is why I was looking for a different way of putting the data together.

If I were to put such a chart with my overall income together it would just keep going up as the istock chart is going up to a point where I dropped exclusivity. It would look like this because - you should probably know the answer by now - my portfolio is growing.

Hope this helps.

« Reply #7 on: December 17, 2013, 04:27 »
+3
Well, I appreciate your sharing your experience Targoszstock, thank you!

And 16 video sales a month on iStock certainly seems significant to me (I've only ever had 10 in total!) though my portfolio is quite small and very simple.  What I take from this is that video exclusivity on iStock is only likely to work for those with high production value footage, for the simple stuff it's probably better to be independent.

« Reply #8 on: December 17, 2013, 06:51 »
0
Dose your sales include Getty? It seems to me for the amount of work you put in you are no better off.

« Reply #9 on: December 17, 2013, 07:38 »
0
If you are making the same amount like you did when you were exclusive and reached this goal in less than 18 months, I am very impressed.

Your files havent been online that long and many will certainly still find new customers and havent reached their peak yet. At the video masterclass, simonkr shared that in his experience the second year was the financially strongest for his files and then things would slow down until they stabilised on a certain level.


I think your experience is a major indication that going indie is financially a very solid option for video. So now you have a  loyal following of buyers on many different agencies, not just one and can build your portfolio in peace. You also have a much better chance of all files getting their day in the sun and being noticed by the different best match systems. You can sell editorial videos. You can select your own prices on pond5. etc

In short, unless doing video is a part time thing or you simply prefer working with just one agency, indie looks like the better financial option for video.

And you no longer have to worry which of the sites is moving up or down or if your agency will regain the position lost as market leader.

One more question: do you supply getty separately? If not, why not apply and make them one more of your agencies/webshops to work with.

I guess then you would have them all covered, wouldt you?
« Last Edit: December 17, 2013, 10:53 by cobalt »

« Reply #10 on: December 18, 2013, 05:12 »
+1
It seems to me for the amount of work you put in you are no better off.

I didn't do it to make more money, I did it to diversify and sabilize my income. I consider the transfer to be definitely worth it. Than comes the question how would my portfolio perform if I stayed. John, you are just the person to ask, how did your 5000+ files perform in 2013?

Amount of work? It is not that bad, check out my todays blog post if you like.

If you are making the same amount like you did when you were exclusive and reached this goal in less than 18 months, I am very impressed.

There wasn't a gap and then a build up. Well maybe a little. Check my early charts. March is still my bme but I am consistently getting closer.

Your files havent been online that long and many will certainly still find new customers and havent reached their peak yet. At the video masterclass, simonkr shared that in his experience the second year was the financially strongest for his files and then things would slow down until they stabilised on a certain level.

I think your experience is a major indication that going indie is financially a very solid option for video. So now you have a  loyal following of buyers on many different agencies, not just one and can build your portfolio in peace. You also have a much better chance of all files getting their day in the sun and being noticed by the different best match systems. You can sell editorial videos. You can select your own prices on pond5. etc

In short, unless doing video is a part time thing or you simply prefer working with just one agency, indie looks like the better financial option for video.

And you no longer have to worry which of the sites is moving up or down or if your agency will regain the position lost as market leader.

I agree : )

Dose your sales include Getty?

Getty? I had less than 10 sales over there ever, and only one in 2013. That is for the content iStock put there on my behalf. iStock says I have one file over there. I found three. iStock says all is well... an other reason I left.

One more question: do you supply getty separately? If not, why not apply and make them one more of your agencies/webshops to work with.

I guess then you would have them all covered, wouldt you?

Isn't getty exclusive only?
« Last Edit: December 20, 2013, 03:40 by targoszstock »


 

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