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Author Topic: Pond5 taken over by SS  (Read 2942 times)

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« Reply #25 on: May 11, 2022, 15:28 »
+3
Oringer Stabbed once tens of thousands of contributors a couple of years ago. It seems he got a crush for this type of abusive behavior. Let's see how long it takes until he pulls out the knife again.


« Reply #26 on: May 11, 2022, 16:21 »
+13
It's not light bed-time reading, but Shutterstock has posted the 8-K they filed with the SEC about the Pond5 deal

https://investor.shutterstock.com/static-files/0a77d5e0-fe22-467c-af6b-d95d76cfd71a

Couple of things I noted on a quick skim (it's 268 pages and life's too short to read it all):

-The deal is done, not announced and to be completed.

-Shutterstock apparently has a subsidiary for accomplishing mergers. Love the name: "...Piranha Merger Sub, Inc., a wholly owned subsidiary of the Company..."

-Shutterstock is opening a $100 million unsecured revolving loan with Bank of America (answers a question I posed in the new CEO thread about where the cash was coming from given what they reported at the end of Q1. On the effective date of the agreement (May 6), Shutterstock borrowed $50 million "...for use in connection with the acquisition..."

-They identify Top Contributors at Pond5 as the 20 top earners by dollar volume for 2020 & 2021 and agree that Shutterstock has not "...received any notice, written (including email) or oral, that any of the Top
Contributors intend to terminate or materially reduce its business with the Company or any of its Subsidiaries. None of the Company or any of its Subsidiaries is
currently engaged in a material dispute with any such Top Contributor and no such material dispute is threatened by any such Top Contributor. None of the
Company or its Subsidiaries is currently engaged in any renegotiation with any Top Contributor related to such Top Contributors relationship or Contract with the
Company or its Subsidiaries. No Top Contributor has requested a price increase or change in the structure or amount of royalty payments from the Company or its
Subsidiaries, other than a de minimis price increase or change in structure or amount of royalty payments."


-The new CEO's salary is $700,000 with a potential bonus of another $700K. There's also a couple of stock awards, subject to board approval; both $15 million; one vests over 3 years. The board will set the performance targets & details for the awards by December 31, 2022.

« Reply #27 on: May 11, 2022, 22:46 »
+3
Jo ann with the real news like always

Seems like the CEO got a payday he just could not refuse. Guess it's only Adobe who now get videos, atleast till they reveal their amazing subscription plans

« Reply #28 on: May 11, 2022, 22:55 »
+2
-They identify Top Contributors at Pond5 as the 20 top earners by dollar volume for 2020 & 2021 and agree that Shutterstock has not "...received any notice, written (including email) or oral, that any of the Top
Contributors intend to terminate or materially reduce its business with the Company or any of its Subsidiaries.

Be interesting to know details of who the Top 20 contributors might be.


« Reply #29 on: May 12, 2022, 02:51 »
0
-They identify Top Contributors at Pond5 as the 20 top earners by dollar volume for 2020 & 2021 and agree that Shutterstock has not "...received any notice, written (including email) or oral, that any of the Top
Contributors intend to terminate or materially reduce its business with the Company or any of its Subsidiaries.

Be interesting to know details of who the Top 20 contributors might be.

Will be interesting to see what they do now that the news is out.

It also shows how much SS needs the good quality content they drove away with their royalty changes.

« Reply #30 on: May 12, 2022, 09:21 »
+1
-They identify Top Contributors at Pond5 as the 20 top earners by dollar volume for 2020 & 2021 and agree that Shutterstock has not "...received any notice, written (including email) or oral, that any of the Top
Contributors intend to terminate or materially reduce its business with the Company or any of its Subsidiaries.

Be interesting to know details of who the Top 20 contributors might be.

Will be interesting to see what they do now that the news is out.

It also shows how much SS needs the good quality content they drove away with their royalty changes.

Without seeing details of the Top 20 I would guess that agencies/aggregators make up the bulk if not all of the list.  Reuters alone has 1m+ videos on P5.  I'd be surprised if there are any individual contributors on the list.

wds

« Reply #31 on: May 12, 2022, 10:34 »
+2
-They identify Top Contributors at Pond5 as the 20 top earners by dollar volume for 2020 & 2021 and agree that Shutterstock has not "...received any notice, written (including email) or oral, that any of the Top
Contributors intend to terminate or materially reduce its business with the Company or any of its Subsidiaries.

Be interesting to know details of who the Top 20 contributors might be.

Will be interesting to see what they do now that the news is out.
It also shows how much SS needs the good quality content they drove away with their royalty changes.


The "top 20 contributors" are presumably not bound to stay. If they don't like what they see, they could leave at any time.

« Last Edit: May 12, 2022, 10:37 by wds »

« Reply #32 on: May 12, 2022, 14:18 »
+3
Well these must be contributors who are currently not uploading to Shutterstock. It is probably because of their content that Shutterstock bought pond5.

Will they accept having their content transferred to a place they have not been working with?

I mean, Shutterstock probably already made them offers to upload directly.

Anyway, the situation of top level ports does not affect us small timers. The large production houses can negotiate any kind of deal they want.

But now there is less competition in the market. Only Adobe is left. Luckily they are too big to be bought.

« Reply #33 on: May 12, 2022, 14:26 »
+1
The "top 20 contributors" are presumably not bound to stay. If they don't like what they see, they could leave at any time.


Leave to where? getty? Adobe Stock is not so much video, whereas Pond 5 (still)is mainly video.

SVH

« Reply #34 on: May 12, 2022, 15:30 »
0
Only Adobe is left. Luckily they are too big to be bought.
I cannot see why Adobe, if their stockselling division isn't as profitable as the other divsions, wouldn't sell that division in some time to a third party. So don't get your hopes up.

« Reply #35 on: May 12, 2022, 15:45 »
+2
"Paul Hennessy drove vroom to the ground and now he gets a promotion with shutterstock???"

Comments at Stock investment site.

Used cars salesman for selling creative assets and grow a strong relation with the creative community. Good luck with that.

By the way Vroom reached 75$ last year. It closed today at 1.42$. So people that are at SS can be confident he will know how to pump up the company and squeeze every last drop of it.


I am sorry for P5 contributor as the vibe was really much different than at slavery sweat shop SS. Unfortunately it will not be long until this Mr Hennessy will star with the we lower your royalty, but you will make it up in volume once those video files get transferred to SS.

« Reply #36 on: May 12, 2022, 16:14 »
+5
Emeric Le Bars, who was interviewed by Alex on the BHGSP Blog last year, just announced on the Stock Coalition Facebook page he will be having a video interview with Pond5's CEO which will be recorded and posted on YouTube. Emeric is a time-lapse photographer with content on Pond5 and says he is very concerned about this acquisition.  Thought I would just share this for info.
« Last Edit: May 12, 2022, 16:22 by Pacesetter »

wds

« Reply #37 on: May 12, 2022, 16:40 »
+1
"Paul Hennessy drove vroom to the ground and now he gets a promotion with shutterstock???"

Comments at Stock investment site.

Used cars salesman for selling creative assets and grow a strong relation with the creative community. Good luck with that.

By the way Vroom reached 75$ last year. It closed today at 1.42$. So people that are at SS can be confident he will know how to pump up the company and squeeze every last drop of it.


I am sorry for P5 contributor as the vibe was really much different than at slavery sweat shop SS. Unfortunately it will not be long until this Mr Hennessy will star with the we lower your royalty, but you will make it up in volume once those video files get transferred to SS.

Maybe SS will fail which may be a good thing long term.

« Reply #38 on: May 12, 2022, 22:37 »
+6
Quote
I cannot see why Adobe, if their stockselling division isn't as profitable as the other divsions, wouldn't sell that division in some time to a third party. So don't get your hopes up.

Adobe Stock is tightly integrated with products like PhotoShop, After Effects, and Premiere Pro.  They would be insane to sell off its stock assets to a third party, as that integration, presumably, helps to keep CC subs going, and there is no guarantee a third party would maintain that tight integration over time. 

Not to mention the fact that Adobe doesn't make its bank solely (or even primarily) from stock content sales, but from its deep and venerable bench of content creation apps.

If Adobe Stock ever gets sold or folds, then you'll know for sure that Adobe, the company, is in a world of hurt.

IMHO.

« Reply #39 on: May 13, 2022, 00:56 »
0
Quote
I cannot see why Adobe, if their stockselling division isn't as profitable as the other divsions, wouldn't sell that division in some time to a third party. So don't get your hopes up.

Adobe Stock is tightly integrated with products like PhotoShop, After Effects, and Premiere Pro.  They would be insane to sell off its stock assets to a third party, as that integration, presumably, helps to keep CC subs going, and there is no guarantee a third party would maintain that tight integration over time. 

Not to mention the fact that Adobe doesn't make its bank solely (or even primarily) from stock content sales, but from its deep and venerable bench of content creation apps.

If Adobe Stock ever gets sold or folds, then you'll know for sure that Adobe, the company, is in a world of hurt.

IMHO.

Rather than thinking Adobe being bought out, I suggest we turn the tables and Adobe buy out the lot! ;D

« Reply #40 on: May 13, 2022, 02:01 »
0
Rather than thinking Adobe being bought out, I suggest we turn the tables and Adobe buy out the lot! ;D

Why should they? They have a strong curated portfolio of quality images, I dare say enough to satisfy the market as is. They are not yet so much into video, but that could come. Why should they bother to obtain some agecies that have tons of full in extreme focus and noise free garbage with misleading keywords? 

« Reply #41 on: May 13, 2022, 08:58 »
+4
The difference between Adobe and Shutterstock, as companies,  is analogous to the difference between a 5-star fine dining restaurant and a hot dog cart.  Adobe's stock content is a single menu item in a menu full of outstanding offerings meant for all kinds of content creators.  It is the stuffed mushroom appetizer you get when you're going to order the prime rib and grilled asparagus entree (all of Adobe's other apps).

Shutterstock, and all its little affiliates and "partners", is a hot dog cart and you get one thing: mystery meat hot dogs with stale buns.  It's a horrible dining experience but will fill you up if you can stand the bad taste and crappy offerings.

« Reply #42 on: May 13, 2022, 09:05 »
0
Well these must be contributors who are currently not uploading to Shutterstock. It is probably because of their content that Shutterstock bought pond5.

Will they accept having their content transferred to a place they have not been working with?
...

no reason at all to assume that - most people upload to multiple sites and only a tiny proportion of all artists left SS. and right now nothing is being 'transferred'

« Reply #43 on: May 13, 2022, 09:39 »
+1
Well these must be contributors who are currently not uploading to Shutterstock. It is probably because of their content that Shutterstock bought pond5.

Will they accept having their content transferred to a place they have not been working with?
...

no reason at all to assume that - most people upload to multiple sites and only a tiny proportion of all artists left SS. and right now nothing is being 'transferred'

That doesn't mean SS can't reduce royalties on the P5 platform and still net a few bucks to pennies for contributors royalties, shoring up their OPINC.

« Reply #44 on: May 15, 2022, 17:20 »
+2
So I will earn few cents... OK. Time to leave pond5. There is no reason to sell my work anymore.


 

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