MicrostockGroup

Hi all,
 
Following on the successful re-launch of Veer last July, we’ve had some time to review the performance of our credit pack sizes and pricing.  Based on our positive growth and demand for higher volumes of credits, we’ve decided to make a few changes to our credit pack sizes and pricing as we continue to ramp-up our business in 2011.  We’d like to share the changes with you and what it means for contributor royalties.

Introduction of two new large credit packs

Veer’s larger customers have expressed a desire to purchase images in higher volumes, which is great for Veer and our contributors as we’ll see even more downloads this year.  In response to this demand, we have added two new large credit packs of 6,000 and 12,000 credits. 

These large packs have our lowest price per credit to date, of $0.82 and $0.78.  Previously the lowest price per credit was $0.88 for the 2000 credit pack.  Now, with the lowest price per credit at $0.78, it means the largest potential share of royalties is increasing from 40% up to 45%.

Price increase for eight USD/CAD credit packs (GBP/EUR excluded)

With increased customer demand for credits, we’ve also decided to increase the price of some mid-sized credit packs in US and Canadian dollars only.  This increase is between 1% and 14%.  See the table below for the breakdown. 



Contributor Royalties

For simplicity and transparency, Veer pays contributor royalties at $0.35 per credit regardless of the size of credit pack purchased by the customer.  With the pricing changes to our credit packs, contributors still earn the same royalty per image.  For example, just as before, if a customer downloads a Large image for ten credits the contributor gets $3.50.

Because royalties are currently set at $0.35 per credit and because the credit pack prices have changed, this means the contributor percentage share of the price per credit has changed as well in some instances.  For some credit packs, there is no change. For others, the contributor share goes down between 0.2% and 5%, while for the new 6,000 and 12,000 credit packs, the percentage share increases between 3% and 5% above the previously largest pack of 2000 credits.



Since there are similar sized increases and decreases to royalty rates as a result of these changes, the overall royalty rate for most contributors will be largely unchanged.  As such, we are maintaining the contributor royalty per credit at $0.35 for this credit pack price change.  If there are future credit pack price changes, we will review the contributor royalty per credit, as we have done in this case, and make adjustments based on the given circumstances.

See the updated Veer Contributor rate card here.

Questions and discussion are welcome. Feel free to respond here, or email us at [email protected].

Cheers,

Chelsey

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Chelsey Schaffel
Manager, Veer Creative Content

http://www.veer.com

Thanks for bumping this Tyler.  I missed it the first time around.

Looks like we win on some packs and lose on others.

The transparency and detailed explanation is much appreciated.  Thanks Chelsey

would've been nice to get an email about this from veer.... would appreciate emails in the future rather than having to find things out a month after the fact hidden on some forum.

Yes, thanks for bumping this Tyler - I hadn't seen it either.

First impression is that it's fairly balanced and is respectful and considerate to the artists, while aiming to please the buyer.  Much appreciation for the detailed information.  As others have said, it would be more helpful to have such information emailed, as there must be many contributors who don't visit this forum. 

All the same, thanks so much for letting us know via MSG, at least.

Hi all,

We've updated our rate card to include AUD. Here's the link to the most current information: http://contributor.veer.com/images/pdf/Veer_Contributor_Rate%20Card_%28031511%29.pdf.

Cheers,

Chelsey

Hi Artemis,

Likely not. It could be a glitch resulting from some site updates this past weekend. I'll pass your observation on to our developers.

Thanks!

Chelsey