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Author Topic: Veer Update  (Read 1523 times)

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« on: September 30, 2011, 13:58 »
Hey MSG Folks,

Here is an update by Veer which I feel is better than originally purposed-

Veer Subscription Royalties Update

Last week Veer announced its plan to launch a subscription service. Though we expected
the response to be positive, we offered contributors the opportunity to opt out of the
program if they so desired. The response from contributors has been loud and clear.
Obviously we missed the mark.

Weve asked for your feedback and have been listening carefully over the last few days
as we went back to the drawing board to revise our royalty model. Two key issues were
raised by contributors:

1. Basic plan royalty per download range of $0.10 to $3 is generally good but a minimum
    of $0.25 per download is preferred.
2. Extended license plan royalty per download of $0.13 to $3.75 is far below expectations;
    there are other subscription sites averaging $28 per extended license download. This
    was a deal breaker for many contributors.

So heres what were going to do.

Firstly, were raising raising the rates of our basic subscription to have a minimum royalty
of $0.25 per download. Were also raising the maximum royalty from $3 to $4.95. The
range is now $0.25 to $4.95 per download, per image-buying customer.

Secondly, were changing the subscription extended license plan. Instead of a daily
download model for subscription extended licenses, Veer will enable subscription
customers to easily purchase extended licenses on a per-image basis, as we do now on
veer.com. If a customer purchases an unlimited reproduction license for your
subscription image, youll earn $35 for the extended license, in addition to your
subscription royalty per download of between $0.25 and $4.95.

For example, if the average subscription customer downloads nine images per day and
the general range of downloads is between five to 15 downloads per day, then heres
how much a Veer contributor will earn with the revised subscription royalty model:

Customer downloads 15 images per day=$0.33 royalty per downloaded image
Customer downloads 9 images per day=$0.55 royalty per downloaded image
Customer downloads 5 images per day=$0.99 royalty per downloaded image

And if a customer adds an unlimited reproduction license to your image, youll get an
extra $35 per image on top of the subscription royalty.


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