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Author Topic: PhotoDune September Stats & Update  (Read 5858 times)

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collis

  • Hello! I work at Envato!
« on: October 03, 2011, 01:47 »
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Last month I got lots of good feedback about posting up some stats and updates, so here goes again!

Things Going Well!



Things We Need to Work/Think On!

  • Uploading with Model Releases - We've had some complaints about our upload process when model releases are involved. We've fixed a few bugs, but there are some underlying differences in how we do things on PhotoDune. I need to figure out if it's a case of getting out better info about our process, or changing it. Either ways - it needs work! :-)
  • We've had quite a bit of discussion about our non-exclusive rates here on MSG, and that's still something on the discussion table over here, so no word just yet!


... And Two Big Changes:

(1) Extended License pricing increase
Here on Microstockgroup we've had a lot of people voice their concern about our Extended License pricing. This is a combination of a low pricing multiple, and a different approach to ext. licensing. Along with that feedback, we contacted a number of top authors to gauge their input before further reviewing it.

As you may have realised we offer extended licenses of different image sizes. This is different from most marketplaces which offer just the largest size with an extended license. Personally I think it's kind of neat to have many tiers because different customers have different needs. Someone wanting to sell the photo on a postcard for instance needs a large print-ready resolution photo. Whereas someone making an iPhone app will just need a 640x960 size.

For our extended license pricing we apply a multiple to the regular image price. Previously that multiple was 5x, we've now revised it upwards to 8x.

This means if you need an extended license on the largest size we offer you are paying around $72 - which is fairly standard for the industry. However if you are a buyer looking for just the small size you are paying upwards of just $8. Of course for that price you get a *tiny* sized image!

I think that some photographers may still groan at offering *any* sort of extended license for $8, and of course we still have a simple opt-out for extended licensing. However personally I think with this revision it fits better into the industry standards while continuing to offer something new to buyers.

As you will find, we're big fans of gathering information and then making decisions. So we will continue to gauge this new price point to see how it performs, and then will revisit the decision in a couple of months.

(2) Increasing from 50 submissions p/day to 250 p/day

We previously had an artificial submission limit of 50 photos per day to ensure we didn't crumble under the load of resources and reviewing. Two months in and we're feeling more confident and we've now increased that limit way up to 250 images per day. I imagine this is going to yield a much faster library growth, and of course is a bit more pleasant for photographers as an upload experience!

Of course this also means we are opening the floodgates to some extent, so we'll be watching closely our review times to make sure we don't move the bottleneck somewhere new :-)


And Next Month

Next month we kick off a really cool GraphicRiver/PhotoDune bundle which will feature a lot of our current photographers. As you may know we share revenue on our bundles at a 50-50 split regardless of exclusivity. Bundles are very popular with our buyers and have sold up to $200,000 worth in a matter of days. But primarily they are a way for us to drive new buyers to check out contributor content. So I'm pretty excited about this bundle as it will showcase some of the best PhotoDune content to our massive pool of buyers!

Onwards and upwards!

Hope you all had a good month as well!


« Reply #1 on: October 03, 2011, 08:30 »
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Thank you!  But 25% from $72 = $18. It is $10 less than on Shutterstock. I think a lot of artists would prefer not to opt in such small EL to not harm more expensive EL sales on Shutterstock, Veer and Fotolia. Please, do not lower the price level of industry. The EL must be expensive.
« Last Edit: October 03, 2011, 09:03 by zastavkin »

« Reply #2 on: October 03, 2011, 08:41 »
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Until you raise commissions, I really can't get the motivation to upload my portfolio.  The $18 for EL's is only if they want the biggest size, that really isn't enough.  I'm sure lots of buyers can make do with smaller sizes and I would really get a bad deal then.  Isn't the industry standard for EL's closer to $100?  I don't want a new site that pays 25% commissions and I would have to opt out of EL's.

If anyone is getting sales now, I'm sure they will be much less frequent when the majority of contributors upload their portfolios.  I will stick with the long list of sites I'm already with for now.  If you raise commissions and make EL's more lucrative, I will give you a go.
« Last Edit: October 03, 2011, 08:42 by sharpshot »

rubyroo

« Reply #3 on: October 03, 2011, 08:44 »
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If you raise commissions and make EL's more lucrative, I will give you a go.

Ditto.

« Reply #4 on: October 03, 2011, 09:17 »
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I suggest you read the rave reviews Veer got after listening the posters here, regarding ELs.
http://www.microstockgroup.com/veer-marketplace/veer-subscription-royalties-update/

"How refreshing to hear a stock site (Veer) listening to the contributors and adjusting things accordingly.  There are a few other sites that could take a lesson from you and I wish you all the luck in the world to take you to the top."
« Last Edit: October 03, 2011, 09:19 by rimglow »


« Reply #6 on: October 03, 2011, 17:54 »
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Hey guys, Thanks for !

I was very impressed with how Veer handled things, and the post that Aaron put up was great! Really well written. Certainly they went up in my estimation too :)

Then why don't you act like them?

You are obviously seeing the issues many contributors have, but it looks like you're trying to make the smallest possible steps towards them. You are defining "industry standard" as "a little better than the worst sites out there". That's not enough.

Move your commission up to 50% and EL prices to 100$. That would be a bold move and get you massive support.

« Reply #7 on: October 03, 2011, 19:17 »
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Your new deal is not fair, it will kill the microstock industry, under 28$ for El, no way. The commission is also too low.
You are a very polite guy, that's not enough, we want to see real facts.

« Reply #8 on: October 04, 2011, 02:38 »
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hi Collis

thanks for the conmunications, it's refreshing.

My main focus is editorial stock.  Are you intending to accept such imaging?  If so, I'd be interested.

Regards

Ken

« Reply #9 on: October 04, 2011, 08:56 »
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make it 35 to 50% (amount sales) and you will mess up this industry :)

collis

  • Hello! I work at Envato!
« Reply #10 on: October 04, 2011, 16:05 »
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Hey guys! A few things I thought I should answer:

@zastavkin: Thanks for , I totally understand, and respect those photographers (including yourself and Lisa) who have opted-out of extended licensing on PhotoDune. Certainly if it becomes a more attractive proposition in this light, I'll be knocking on your door :-)

@dirkr: I think it's important as a new agency that we move cautiously and incrementally. We started up only a couple of months ago, so far things are going really well, and we are taking small incremental steps to address areas we might be weak in.

You are correct that those two settings would get a lot more support. Don't get me wrong, we are definitely well aware what would win many friends amongst the photographers. However it's really important that we look at all the different requirements.

We must build a site that delivers sales, and that works within our network of marketplaces and is consistent therein, and which provides value to buyers, and which photographers feel is worthwhile in terms of pricing and rates. And hopefully if all of these align then the site grows and is happy and healthy.

The push and pull of these (sometimes quite different) requirements is what makes it interesting to try to run a microstock marketplace - especially in our unique position of having it be one of nine marketplaces!

Anyhow, this may not convince you that we are doing the right thing, but hopefully it explains how we operate a little more.


@Smithore: I totally understand your concerns. I don't think we will kill the microstock industry, I don't think anyone can kill it, it's got so much momentum! But I do see why you are worried about Ext License pricing and whether it's a trend downwards or if it will hurt the same type of sales on other sites.

And on a brighter note, I'm just glad you called me polite! I'll take the positive feedback where I can get it :)


@bizair: You're welcome :-) I figure it's good to give updates, but also to get to know us a bit, especially in these early months!

At the moment we haven't been doing any editorial stock yet, however it's something I hope we can do in the near future. Definitely I'll make sure if/when we do, we announce it here on Microstockgroup.com


@luissantos84: Thanks for  Luis, and for giving PhotoDune a try, it's been good to have you on the site! That certainly would be a fun announcement to get to make ;) In the meantime we'll keep working on the site to see what we can do!

microstockphoto.co.uk

« Reply #11 on: October 13, 2011, 13:09 »
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I already sold 2 pictures tomorrow. Nice having an Australian site.

« Reply #12 on: November 10, 2011, 17:48 »
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Hi collis,

thanks for your stats & updates for September. Are there any Stats & updates for past month (October)?  :)

I appreciate those informations.  ;) :)

Thanks
Gunnar :-)



 

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