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Author Topic: Jon Oringer Steps Down at ShutterStock  (Read 1801 times)

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Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #1 on: February 13, 2020, 12:47 »
+8
Here is the article https://www.forbes.com/sites/stevenbertoni/2020/02/13/shutterstock-founder-and-ceo-jon-oringer-to-step-down-in-april/#295a04167e8b

Time to enjoy life, he's an advisor now.

Here's the part that scares me: "... streamline operations, expand the marketplaces margins, and make the core photo product more valuable to customers. "

1) Less staff, less support, no one checking for theft or other cheaters.
2) margins = less commissions paid?
3) more valuable to customers = lower prices.

Feel free to disagree or correct me, but I don't see the new plan as something to make me optimistic about our future earnings.



More and more looks like a self portrait.  ;)

« Reply #2 on: February 13, 2020, 13:06 »
+6
Seems like a smart move for Jon.  Moving onto the part of the job that he enjoy's more and is best at and letting someone else lead the troupes.  That said, I hope this doesn't mean bad news for the contributors.

angelawaye

  • Eat, Sleep, Keyword. Repeat

« Reply #3 on: February 13, 2020, 13:46 »
+7
That exact line bothered me too. Wondering when the "exciting" news email is coming ...

« Reply #4 on: February 13, 2020, 14:40 »
+1
Here is the article https://www.forbes.com/sites/stevenbertoni/2020/02/13/shutterstock-founder-and-ceo-jon-oringer-to-step-down-in-april/#295a04167e8b

Time to enjoy life, he's an advisor now.

Here's the part that scares me: "... streamline operations, expand the marketplaces margins, and make the core photo product more valuable to customers. "

1) Less staff, less support, no one checking for theft or other cheaters.
2) margins = less commissions paid?
3) more valuable to customers = lower prices.

Feel free to disagree or correct me, but I don't see the new plan as something to make me optimistic about our future earnings.



More and more looks like a self portrait.  ;)


i think they will hit mostly video producer where margins to less commissions are big big...probably try selling more newcomers images at 0,25 cent instead 0,38...

« Reply #5 on: February 13, 2020, 15:05 »
+9
Theres only so many ways to increase profits - and its usually on the backs of contributers

SS messed up starting with increasing the allowable print run for a sub price and every move since then has been detrimental to contributers earnings

Every move

« Reply #6 on: February 13, 2020, 17:16 »
+9
Obviously jumping ship before it sinks  ;D

Yes exciting news is on the way  :'(

« Reply #7 on: February 14, 2020, 12:26 »
+16
I guess they needed to have some "action" to reassure investors after a lackluster earnings report

https://seekingalpha.com/news/3541795-shutterstockminus-9-after-misses-ceo-transition

Some more articles on this change

https://techcrunch.com/2020/02/13/shutterstock-founder-and-ceo-jon-oringer-steps-down-after-16-years/
https://www.dpreview.com/news/2751084477/shutterstock-founder-jon-oringer-is-stepping-down-from-his-role-as-ceo
https://petapixel.com/2020/02/13/shutterstocks-ceo-and-founder-steps-down-after-16-years-at-the-helm/
https://www.techzimo.com/shutterstock-founder-and-ceo-jon-oringer-steps-down-after-16-years/
https://www.fastcompany.com/90464019/shutterstock-just-lost-its-ceo-the-man-who-founded-the-company-16-years-ago

Given that they're looking to improve earnings and have polluted their image collection with volumes of stuff that shouldn't be there, I am concerned that contributor royalty rates will look like low-hanging fruit.

February's royalties so far are (even for a slow month) anemic.

Hey ho - "exciting" news on its way...

Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #8 on: February 14, 2020, 13:40 »
+2
I guess they needed to have some "action" to reassure investors after a lackluster earnings report

https://seekingalpha.com/news/3541795-shutterstockminus-9-after-misses-ceo-transition

Some more articles on this change

https://techcrunch.com/2020/02/13/shutterstock-founder-and-ceo-jon-oringer-steps-down-after-16-years/
https://www.dpreview.com/news/2751084477/shutterstock-founder-jon-oringer-is-stepping-down-from-his-role-as-ceo
https://petapixel.com/2020/02/13/shutterstocks-ceo-and-founder-steps-down-after-16-years-at-the-helm/
https://www.techzimo.com/shutterstock-founder-and-ceo-jon-oringer-steps-down-after-16-years/
https://www.fastcompany.com/90464019/shutterstock-just-lost-its-ceo-the-man-who-founded-the-company-16-years-ago

Given that they're looking to improve earnings and have polluted their image collection with volumes of stuff that shouldn't be there, I am concerned that contributor royalty rates will look like low-hanging fruit.

February's royalties so far are (even for a slow month) anemic.

Hey ho - "exciting" news on its way...

Too bad we don't get one super + (worth 10 or something) a month for posts like this from you.

Maybe Jon is telling the truth, the two year transition plan, which is now. And that will put someone more interested and capable in charge of this area of the operations.


« Reply #9 on: February 14, 2020, 20:59 »
+7
He's out of ideas and tired of fighting the decline. There's no way this business can continue to justify a $2 billion valuation.
.
 

« Reply #10 on: February 14, 2020, 22:31 »
+3
I see it sinking. Recent sales plummeted.

« Reply #11 on: February 15, 2020, 00:51 »
+4
Been saying this for a few years. + 100 to JoAnn and Pete. SS was always One Of the worst at reviewing quality and the all time worst at communication skills. Adobe was and Is Built By Image makers. SS was Not even close. Hope the new Guy at Least can Take a Picture and Just Not some Tech Biz Stock Market Guy who was #1 at Business school. We are people and something Jon Forgot. I said in 2013......"If I were Jon. I would have the largest Boat ever made with a  heliport and get 20 best Friends and Travel The world." then Come back and start something else with a Better Human touch. SS Lost that touch a Long time ago, Something Bigstock had and was destroyed.
Innovation wins, Crowd sourcing Looses in the end Because you Loose touch. I was banned from their forums for speaking the truth and trying to help Others do better and speaking against the Haters,Stalkers ,Pretenders and Wannabes. 57,000 Posts was More than any employee or submitter has ever done to Help Others along with 9500 On the critique forum trying to Help. Also, Something No employee has ever done.
In retrospect....Im Glad they banned me. Shows exactly Who They are........And were and going forward gonna continue to be unless they make some serious changes.. I asked them why I was banned 3 Times and got No answer.......Classic SS. Good Luck to my Very Old friend Jon who I knew In the very Beginning upstairs in the Old Building. with Cora and Moshe.
Sales have dropped 80%. I'll stay until The end......And This Post makes me Sad.

Not Much More to say. All the Old timers are gone who Made SS and actually Not many new folks with Not Much to say..
« Last Edit: February 15, 2020, 00:57 by rinderart »

« Reply #12 on: February 15, 2020, 02:55 »
+2
[] then Come back and start something else with a Better Human touch. SS Lost that touch a Long time ago, Something Bigstock had and was destroyed.[]

I agree with you.

This is the essence of capitalism from the very beginning, the numbers are important, not the persons.
Today companies are not managed by persons, but by Excel spreadsheets
« Last Edit: February 15, 2020, 02:58 by Chichikov »

« Reply #13 on: February 15, 2020, 05:26 »
+5
Good riddance is what I say now he can go polish his guitar collection ;D
« Last Edit: February 15, 2020, 05:28 by Bad Robot »

« Reply #14 on: February 15, 2020, 08:39 »
+1
I don't think Shutterstock can be saved as long as it's a publicly traded stock.  Stockholders (most of whom probably don't have a clue about microstock) want dividends above all else.

« Reply #15 on: February 15, 2020, 11:12 »
+4
I hope sooner than Later. someone will come along and Offer a 50/50 Split and they Better do it soon as Micro as we Know it is going away. Any company who Can't make a profit with 50% of others work Doesn't deserve to be In Business...........Period. Nuff said. Im done.

Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #16 on: February 15, 2020, 11:13 »
0
I don't think Shutterstock can be saved as long as it's a publicly traded stock.  Stockholders (most of whom probably don't have a clue about microstock) want dividends above all else.

Yeah that 17 cents a share per quarter will be buying them a new Mercedes?   :o

Shutterstock shares have risen nearly 4% since the beginning of the year. The stock has risen 7% in the last 12 months.

I think it's over valued, so we can watch for adjustment. But the important point isn't us worrying about Jon or Investors, but how will SS find a way to make more money? Lets see, what's easiest to cut? Employees are expensive, so staff and services. Then who gets paid for making all the content, oh that's us.

(except some people who still post about SS but don't have an account)


« Reply #17 on: February 15, 2020, 11:20 »
0
I don't think Shutterstock can be saved as long as it's a publicly traded stock.  Stockholders (most of whom probably don't have a clue about microstock) want dividends above all else.

Yeah that 17 cents a share per quarter will be buying them a new Mercedes?   :o

Shutterstock shares have risen nearly 4% since the beginning of the year. The stock has risen 7% in the last 12 months.

I think it's over valued, so we can watch for adjustment. But the important point isn't us worrying about Jon or Investors, but how will SS find a way to make more money? Lets see, what's easiest to cut? Employees are expensive, so staff and services. Then who gets paid for making all the content, oh that's us.

(except some people who still post about SS but don't have an account)

Correct. Lotta dead weight there. Many Probably don't remember 2005/06 It was alive and Very active and you felt part of something. Oh Well. Nuff said. I wish Jon the best. And best of Luck to the new Guy!!!~
« Last Edit: February 15, 2020, 11:31 by rinderart »

wds

« Reply #18 on: February 15, 2020, 22:44 »
0
Maybe SS could do better by charging its' customer's a bit more for strong selling images.....and pay equivalently more to the contributors of said images. To this day, I can't understand why no micro-agency doesn't use the concept of charging more for images that demonstrate strong sales....most products in high demand can sell at a higher price point. I'm not talking about special collections, but any image which has proven to be in demand by strong sales.

« Reply #19 on: February 16, 2020, 00:41 »
+1
Maybe SS could do better by charging its' customer's a bit more for strong selling images.....and pay equivalently more to the contributors of said images. To this day, I can't understand why no micro-agency doesn't use the concept of charging more for images that demonstrate strong sales....most products in high demand can sell at a higher price point. I'm not talking about special collections, but any image which has proven to be in demand by strong sales.

You are correct. I sell some Of my Images directly for $400 to $1100..always have. .......Always will.

« Reply #20 on: February 16, 2020, 06:39 »
+1
Maybe SS could do better by charging its' customer's a bit more for strong selling images.....and pay equivalently more to the contributors of said images. To this day, I can't understand why no micro-agency doesn't use the concept of charging more for images that demonstrate strong sales....most products in high demand can sell at a higher price point. I'm not talking about special collections, but any image which has proven to be in demand by strong sales.
Dreamtimes do this to some extent. Not sure how well it works for them. It surprises me that many of  those at the top of the game (or think they are)  don't take more care where they place their top quality images. At the end of the day we know the deal with SS and are free to place images there or not.

KeremGo3D

  • Master Of My Fate + Captain Of My Soul
« Reply #21 on: February 17, 2020, 20:26 »
0
I like Jon Oringer. We had a brief conversation once, he is a cool and good guy.

Noedelhap

  • www.colincramm.com

« Reply #22 on: February 18, 2020, 13:00 »
+5
I'm not saying it's gonna get better, but Jon was becoming more useless as CEO. Shutterstock was market leader for many years, but the last couple of years SS is sinking. Fewer Enhanced License sales, $1,50 video sales, lack of communication, bad review policies...Of course Jon is stepping down. There's no way to go but down.

In a few years they will lose their #1 market leader position to Adobe Stock and then the major cuts can begin (or even sooner than we think)

« Reply #23 on: February 20, 2020, 02:46 »
+2
I hope sooner than Later. someone will come along and Offer a 50/50 Split and they Better do it soon as Micro as we Know it is going away. Any company who Can't make a profit with 50% of others work Doesn't deserve to be In Business...........Period. Nuff said. Im done.
50/50 does not mean that the company makes 50% of profit. From this you have to subtract all the management costs.
In order to be viable a company must make at least 30% profit (this is a generally accepted rule, although not mandatory).
So the question is, with 50/50, once the costs are subtracted, is there at least 30% profit left?
Certainly if Shutterstock would move its offices to Vietnam it could recoup a lot on the costs

« Reply #24 on: February 20, 2020, 03:15 »
+2
I hope sooner than Later. someone will come along and Offer a 50/50 Split and they Better do it soon as Micro as we Know it is going away. Any company who Can't make a profit with 50% of others work Doesn't deserve to be In Business...........Period. Nuff said. Im done.
50/50 does not mean that the company makes 50% of profit. From this you have to subtract all the management costs.
In order to be viable a company must make at least 30% profit (this is a generally accepted rule, although not mandatory).
So the question is, with 50/50, once the costs are subtracted, is there at least 30% profit left?
Certainly if Shutterstock would move its offices to Vietnam it could recoup a lot on the costs
No one has ever run a succesful stock site for very long paying out 50% as far as I can tell. Contributors hugely underestimate the costs I think. Particularly marketing. Profit margins vary widely by industry normally dictated by risk which is why succesful tech companies have big margins.


 

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