Agency Based Discussion > VideoBlocks
Commission cut
KB:
Beginning August 1st, you will see a 50/50 commission structure applied to all your sales on both the video and image Marketplaces.
I can't say I'm surprised, but didn't they "promise" that we would ALWAYS received 100% commissions?
Still, as much as I hate to say it, I'm ok with a 50/50 split, as long as sales dramatically increase. I'm skeptical that that will happen, though. But even if it does, that would simply drive more supply to SB/VB, thereby causing a drop in sales per contributor.
I guess I'm just pessimistic about all of microstock by now. Too much supply.
pkphotos:
It doesn't surprise me either at all. It was good while it lasted. 50/50 is still decent although their membership/free stuff is spamming their system. If it brings more sales then a good move otherwise I'd stop uploading
Sean Locke Photography:
Lol, surprise! I guess I'll go from 100% of nothing to 50% of nothing.
Here's the whole thing:
You have been asking us what we can do to drive more Marketplace sales and we hear you. After a great start, commissions growth has slowed, and we need to do something about it.
During the first couple years, Marketplace sales grew quickly. Over the same period, the cost of hosting millions of media files, reviewing content, and operating the contributor platform also increased. Because all our revenue comes from subscriptions, we started prioritizing our Member Library in order to build a thriving business that could absorb the growing Marketplace expenses. This led to contributor sales flattening out as we promoted Member Library content over the Marketplace.
To get Marketplace sales back on track, we need to make a change that may sting in the short term. We've examined all options, and it's clear that we must adjust our commission structure in order to align our business needs with the needs of our contributor community.
Beginning August 1st, you will see a 50/50 commission structure applied to all your sales on both the video and image Marketplaces. Our Contributor License Agreement will be updated to reflect this change as well.
We know this isn't ideal, but an equal partnership between Storyblocks and our contributors will allow us to better promote your Marketplace content, and ultimately drive sales growth.
Since launching our video marketplace in 2015, and images in 2017, we've worked to be the most contributor-friendly platform for creative content. We have been proud to offer 100% commission these last three years as a sign of our commitment. We are incredibly grateful for the support you've shown in return, which has far exceeded anything we could have imagined.
We know this change will impact your earnings over the short term, and for that we apologize. Our goal is to meet and exceed historical earnings as quickly as possible through several new initiatives aimed at boosting sales and improving our contributor experience.
In the months ahead, you can expect:
Shorter approval times
New portfolio pages
Increased promotion of your content to Marketplace buyers
Quite simply, we don't have a business without your trust and support. We know this is a big change, and we hope that the relationship we've built these last three years - in tandem with the new initiatives rolling out over the summer and fall - will reassure you that our dedication to the contributor community is as strong as ever.
If you have any questions at all, we're here for you as always. Feel free to reach out to us at [email protected].
All the best,
TJ Leonard
CEO, Storyblocks
Justanotherphotographer:
Yes they did promise. I believe they were pushing the 100% always pretty f**king hard actually.
Rage:
Well guess they figured out that they can make money in this game now. The funny part is that they still have a good structure, provided that sales go up
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