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Author Topic: Yuri Arcurs First Public Statement  (Read 144747 times)

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« Reply #475 on: July 31, 2013, 03:08 »
+15
c'mon guys, Yuri's press release if of course a funny PR stunt but i've seen a lot worse in other industries.

i don't have the feeling Yuri reached the point where he's believing his own sh-it, he's just having a laugh on micro agencies and SS in particular, guess he still has a chip on the shoulder with them ?

you're all angry because Yuri was the living proof it was possible to make a living with microstock alone and now you're shocked and despaired to be told by the king himself that you better go back to macro agencies as micro is financially unsustainable as it is today.

so you feel betrayed and rejected by the guy you idolized for so long but seriously i can't see any mind control tricks in his statements, just common marketing BS you can read in any other press release, i think he was just in a happy mood drinking a couple beers and wanting to have fun on you guys.
He's having a laugh and you're having a laugh but it doesn't make me angry, I find it funny.  Yuri is a factory, has nothing at all in common with the cheap way the vast majority of microstockers work.  It looks like he's been paid off by Getty, good for him.  I'll carry on doing what I want to do and not taking advice from people that know nothing about working with very low expenses.  I don't want to be the owner of a big business or have to work only with Getty.  I'm quite happy as a sole trader.  There's problems with microstock but there's also problems with the traditional sites and we all have to deal with them in our own way. 

It's a shame we can't all get together and work on the real problem, sites that are making huge profits while reducing the commission they pay us.  They always seem to get the last laugh.  Imagine how funny they find these threads with stock contributors bickering when it takes the attention away from what they're doing.


« Reply #476 on: July 31, 2013, 04:00 »
-4
I can't help but think that with Yuri's background in psychology, he's playing a game with us here.  This forum has an anti Getty/istock bias and Yuri going exclusive was never going to make him more popular.  Then he invests in a site that could potentially damage microstock.  So now he can play games, as he's no longer the independent microstockers hero.  I find it hard to believe he wouldn't of been aware of the reaction he would get to his statement and some of his recent posts here.

With all due respect I would not consider BA in psychology in some Danish school a <<psychology background>>

« Reply #477 on: July 31, 2013, 04:04 »
+1
nobody is forcing us to do stock forever, i'm actively studying the art market for instance and if possible one day i see myself doing exhibitions and selling prints at 1000$ a pop, maybe i'm wrong but from what i've seen fine-art photography is 70% mumbo jumbo and marketing BS, 20% photoshop, and 10% creativity, if those punks can do it, i will do it and while i'm at it i should start painting and drawing again too, my biggest mistake was to give up art for high-tech jobs years ago.




« Reply #478 on: July 31, 2013, 04:10 »
-4
as for Yuri, what the F guys ... he got the foot in the door with IS at the right time and at the right place, found his own "gold mine" and executed his business plan better than all the other players, when the sh-it hit the fan instead of whining too much he started his own agency and now he took the right move joining Getty.

so why all this criticism ? business is business, and his next move will be probably in cofounding a micro agency with some rich investors or acting as small VC for startups involved in photography .. it all makes sense from a business perspective, and one day he could also sell the whole biz and retire or becoming a full time VC .. i mean the sky is the limit when you have a business sense and you've millions in the bank.

ironically for photographers, your limit is not seeing the whole picture ... :)


Ron

« Reply #479 on: July 31, 2013, 04:17 »
+3
If you are seeing the full picture, why are you not the next Yuri then?

« Reply #480 on: July 31, 2013, 04:19 »
+2
Yuri got outcompeted, so he blamed it on the business model and escaped into a special deal. The macro agencies basically did / doing the same thing, didn't help them either.

« Reply #481 on: July 31, 2013, 04:53 »
+4


ironically for photographers, your limit is not seeing the whole picture ... :)

I expect we can all see that Yuri is doing what he expects to be good for Yuri to the best of his ability. Isn't that the whole picture? But when he comes to say he's right and everyone else is wrong, he is the one missing the whole picture.  We all have our own strategies and if they work for us then we are right, too.

As for people saying he is abandoning microstock for traditional agencies, he hasn't demanded that Getty take his stuff off iStock. His real message seems to be that iStock exclusivity can be more lucrative for top-level contributors than independence, especially if Getty and running your own "partner" microstock agency is thrown into the mix. Is that really a surprise?

« Reply #482 on: July 31, 2013, 06:56 »
0
I can't help but think that with Yuri's background in psychology, he's playing a game with us here.  This forum has an anti Getty/istock bias and Yuri going exclusive was never going to make him more popular.  Then he invests in a site that could potentially damage microstock.  So now he can play games, as he's no longer the independent microstockers hero.  I find it hard to believe he wouldn't of been aware of the reaction he would get to his statement and some of his recent posts here.

With all due respect I would not consider BA in psychology in some Danish school a <<psychology background>>
It isn't just the BA that I was thinking of.  From wikipedia, so it might all be made up.
"Yuri is currently living in Cape Town, South Africa with his Norwegian fiance Cecilie Skjold Johansen who maintains a job as a corporate psychologist. His father, Steen Wackerhausen, is a professor of Philosophy at Aarhus University and holds a dual doctoral degree in both psychology and philosophy. [15] Yuri's mother, Birgitte Krogh Wackerhausen, is a teacher with several courses completed in the field of Psychology."
https://en.wikipedia.org/wiki/Yuri_Arcurs#Personal_life

ShadySue

  • There is a crack in everything
« Reply #483 on: July 31, 2013, 09:43 »
+1
As for people saying he is abandoning microstock for traditional agencies, he hasn't demanded that Getty take his stuff off iStock.
Nor even asked for all of his images to be removed from the low-subs-model PP.

« Reply #484 on: July 31, 2013, 09:50 »
+1
I can't help but think that with Yuri's background in psychology, he's playing a game with us here.  This forum has an anti Getty/istock bias and Yuri going exclusive was never going to make him more popular.  Then he invests in a site that could potentially damage microstock.  So now he can play games, as he's no longer the independent microstockers hero.  I find it hard to believe he wouldn't of been aware of the reaction he would get to his statement and some of his recent posts here.

With all due respect I would not consider BA in psychology in some Danish school a <<psychology background>>
Utterly disrespectful.

« Reply #485 on: July 31, 2013, 10:11 »
0
Yuri got outcompeted, so he blamed it on the business model and escaped into a special deal. The macro agencies basically did / doing the same thing, didn't help them either.
He "escaped" into a special deal, I like that.  My friend was unemployed so he escaped into a high paying job with good benefits.  Something about that just doesn't sound right though.

« Reply #486 on: July 31, 2013, 10:35 »
+2


you're all angry because Yuri was the living proof it was possible to make a living with microstock alone and now you're shocked and despaired to be told by the king himself that you better go back to macro agencies as micro is financially unsustainable as it is today.

There's plenty other living proof, most of whom keep quiet and don't need to draw attention to themselves.

« Reply #487 on: July 31, 2013, 10:41 »
+7
as for Yuri, what the F guys ... he got the foot in the door with IS at the right time and at the right place, found his own "gold mine" and executed his business plan better than all the other players, when the sh-it hit the fan instead of whining too much he started his own agency and now he took the right move joining Getty.

How is this "with IS at the right time"? I'd have thought that after 2 years of contributors reporting falling sales at IS, who are now on their 3rd boss in two years and with IS being forced, by market pressures, to reduce prices massively for about 80% of their collection ... this is anything but 'the right time'.

Do you remember 'old-and-bold' stock photographer Ron Chapple dipping a toe into microstock back in 2007? Reportedly he spent $600K generating about 15,000 new images for microstock. Although his stuff sold very well he rapidly came to the conclusion that the returns simply weren't there in microstock and, much worse, the barriers to entry for competitors were too low for future income to be reliable. Instead, after 20-odd years producing stock, he gave it up and started Aerial Filmworks instead, doing custom shoots for major clients from helicopters. Now that's a businessman.

Seems odd for Yuri to have spent all that time and all that money starting his own agency ... only to end up exclusive with IS a few months later? It strikes me as a sudden change of direction rather than following a carefully crafted masterplan, although granted, having his own site might have strengthened his hand in negotiations.

It's still too soon to tell whether Yuri's move has been a good one or not. Personally I think IS are now in full retreat from the threat of SS. As well as the new boss and reduced prices we've also had the unlimited uploads and reduced quality thresholds (as many are reporting). What next for IS? Their own subscription plan perhaps?


EmberMike

« Reply #488 on: July 31, 2013, 11:08 »
+4
... he got the foot in the door with IS at the right time and at the right place, found his own "gold mine" and executed his business plan better than all the other players...

Did he? Really? I think that's a highly debatable point.

I'd argue that other people are far more successful than Yuri, people who are making good money without all of the overhead he has. Honestly I cant imagine how he makes any money when he has 100 employees to pay and his whole business brings in less than $10 million. Sounds like a lot of money but it doesn't go far when you've got so many mouths to feed.

ironically for photographers, your limit is not seeing the whole picture ...

Could say the same for you, ignoring the big part of the picture where Yuri not only has a ton of money coming in but also has a ton going out the door also.

« Reply #489 on: July 31, 2013, 11:24 »
0
as for Yuri, what the F guys ... he got the foot in the door with IS at the right time and at the right place, found his own "gold mine" and executed his business plan better than all the other players, when the sh-it hit the fan instead of whining too much he started his own agency and now he took the right move joining Getty.


How is this "with IS at the right time"? I'd have thought that after 2 years of contributors reporting falling sales at IS, who are now on their 3rd boss in two years and with IS being forced, by market pressures, to reduce prices massively for about 80% of their collection ... this is anything but 'the right time'.

Do you remember 'old-and-bold' stock photographer Ron Chapple dipping a toe into microstock back in 2007? Reportedly he spent $600K generating about 15,000 new images for microstock. Although his stuff sold very well he rapidly came to the conclusion that the returns simply weren't there in microstock and, much worse, the barriers to entry for competitors were too low for future income to be reliable. Instead, after 20-odd years producing stock, he gave it up and started Aerial Filmworks instead, doing custom shoots for major clients from helicopters. Now that's a businessman.

Seems odd for Yuri to have spent all that time and all that money starting his own agency ... only to end up exclusive with IS a few months later? It strikes me as a sudden change of direction rather than following a carefully crafted masterplan, although granted, having his own site might have strengthened his hand in negotiations.

It's still too soon to tell whether Yuri's move has been a good one or not. Personally I think IS are now in full retreat from the threat of SS. As well as the new boss and reduced prices we've also had the unlimited uploads and reduced quality thresholds (as many are reporting). What next for IS? Their own subscription plan perhaps?


The fact that he developed a highly functional site was key

Stocksy Co-op Thread
http://www.microstockgroup.com/stocksy/bruce-our-night-in-shining-armor-stocksy-co-op/msg297789/#msg297789

Snip

I love the idea and It is strikingly similar to something I discussed with IS management back 4 years ago and strikingly similar to a business model we have been developing for www.peopleimages.com. hmmm...
Our only problem and something that have caused almost a full-stop actually and that we have been trying to solve for the interim is: how do you market, promote and service a platform for which you are not making any money? With a Co-Op owned site you can't even get VC investment.
This site will portray Bruce as a gregarious individual and a community supporter, but that might just be the primary outcome. Sales don't just "appear".
It was Getty's team that drove Istock to the success it is today. Istock had a revenue of 10mil USD when sold to Getty despite being a first mover in microstock and having been around for 5 years.

Uncle Pete

« Reply #490 on: July 31, 2013, 11:41 »
0
Hi Guys. Im here. I have the next 1-2h. Send me some proper questions

Why will Scoopshot.com be different from any of the past and current citizen journalist / camera phone photo sites?

Why do you feel it's good enough long term to make the major investment in Scoopshot.com for the future?

Thanks


« Reply #491 on: July 31, 2013, 12:18 »
0

The fact that he developed a highly functional site was key

Stocksy Co-op Thread
http://www.microstockgroup.com/stocksy/bruce-our-night-in-shining-armor-stocksy-co-op/msg297789/#msg297789

Snip

I love the idea and It is strikingly similar to something I discussed with IS management back 4 years ago and strikingly similar to a business model we have been developing for www.peopleimages.com. hmmm...
Our only problem and something that have caused almost a full-stop actually and that we have been trying to solve for the interim is: how do you market, promote and service a platform for which you are not making any money? With a Co-Op owned site you can't even get VC investment.
This site will portray Bruce as a gregarious individual and a community supporter, but that might just be the primary outcome. Sales don't just "appear".
It was Getty's team that drove Istock to the success it is today. Istock had a revenue of 10mil USD when sold to Getty despite being a first mover in microstock and having been around for 5 years.


It's quite interesting to read Yuri's post now in the light of recent happenings. Note how fulsome he was in praise of Getty. I'm almost surprised that he didn't credit 'Getty's team' for the success of SS as well. Oops __ of course the success of SS is a most inconvenient fact for Yuri's version of events.


ShadySue

  • There is a crack in everything
« Reply #492 on: July 31, 2013, 16:14 »
0
What next for IS? Their own subscription plan perhaps?
They have one, but it's not low enough priced to compete with SS, which is why Getty took over TS and Photos.com and sent most iS files there.
If they went to low cost subs, that would probably be the absolute last straw for many.

« Reply #493 on: July 31, 2013, 16:34 »
+22
Im late to this party, but I love playing the speculation game. Heres my uneducated guess.

First,  go back to what happened after the Getty Images/istock fiasco with Google Drive. Contributors pulled their images (some their entire portfolios),  and it raised so much of a stink that the Carlyle Group suddenly took notice. In a single day istock lost thousands of images and each of those images has a value on the istock books. My rough guess is about $700,000 worth. And suddenly with blogs, articles and voices talking about istock and Google Drive it was one ugly mark that was raised. Not to mention Mr. Sean Locke was forced out of istock as a result, which Im guessing was a Carlyle decision. (and a dumb one at that) Um, did I mention the creation of Stocksy by former istock founder Bruce? Hes appearing with open arms to exiting contributors. Now people from the Carlyle Group are taking a closer look at things, istock has fallen to number two compared to Shutterstock, and Shutterstock has many more images in its inventory - 25 million compared to 13 million. Since Shutterstock has placed a value of about $18 per image, you can all do the math. For the spring of 2013 was a swift kick to the nads for istock.

And Yuri was also making news, creating his own website, peopleimages.com.  It takes millions of dollars to get that up and running, dedicate people full time to the enterprise, not to mention marketing dollars. Unfortunately, Yuri was now between a rock and a hard place - devote yourself full-time to your own website and make 100% royalties? Or continue to supply the mircostock sites who in the long run are eroding your industry with the sub model? What Yuri needs now is insurance, a way to get a special locked in royalty rate from one or more mirocstock sites. Im sure several one on one meetings took place with all the CEOs/owners of the micro sites. There was no way Shutterstock could do any deals, their margins are too tight and theyd have to make the details public to shareholders. But Getty? Oh yes, they were interested.... madam, may I have this dance?

Remember, after the spring of 2013, istockphoto lost value by losing those images. Which is why upload limits were removed as well as restrictions. They needed contributors to submit more and lots. As well as Getty Images importing more content. Sales might be falling but if you can get more images added to your books (value) it will please your corporate owners. So Getty made Yuri a deal he couldnt refuse. Yuri would become an istock exclusive in exchange for: A lump sum cash payment (well over six figures) as a signing bonus, a locked in royalty rate, a preferred bump up in search engine results, and many promotional deals with istock in the future. (look for articles on Yuri in the istock website as well as see his images on every istock homepage and promotions-use CSA images as your clue)

For istock, it means they acquire one of the leaders of microstock and guarantee of more new content. What istock has been loosing in sales they can make up with adding more images (and value) to the website. I wouldnt be surprised if Getty uses a baseball reference when doing the annual report with Carlyle We just signed the Mickey Mantel of microstock! Cheers all around.

And Yuri gets a nice cash infusion, keeps his website (and his images) to himself and has a dedicated worldwide distributor of those images at a set royalty rate. Thats market insurance right there. As well as promise not to raise a stink about the Google Drive deal. For him its the best of both worlds. Apparently, Yuri is now invested a million+ in Scoopshot.com. And why not? If you had the ability to get in on the ground floor of an instangram start-up business, it would make sense to do a little gambling. Congrats to you sir!

Unfortunately Yuris public statement does have a lot of spin to it. To state that the fall in Shutterstocks share price occurred on July 16 because of Yuris decisions is just silly.  Adobe and IMAX also have some big dips on July 16, I guess Yuri had a big impact on the world market that day. Its just spin folks, and theres more to come...

sit n spin

lisafx

« Reply #494 on: July 31, 2013, 16:41 »
+1
^^Excellent assessment of the situation.  Well worth the read.  :)

« Reply #495 on: July 31, 2013, 16:55 »
0
Isn't it enough to say that Yuri thought he would be better off with Getty and Getty thought they would be better off with Yuri?  They worked out a deal that was beneficial to both parties and that's it.  About the analysis, I think Istock only lost only a few thousand images during the D day thing.  A lot of those images were ones that weren't selling anyways so they probably overall had little value.  The exclusives that left have pretty much all kept their images with Istock.  Sean was a separate issue.  I think these changes to add a lot of files to the Partner Program have been in the works for a long time and had nothing to do with D-day.  In one week they replaced more than all the files that were taken down.

Uncle Pete

« Reply #496 on: July 31, 2013, 17:03 »
0
What are all the 24 cent sales I'm getting for the last two months? I assumed, some kind of low cost subs? I can't even figure out how to see what's being licensed. Just shows up a month later as GI.

What next for IS? Their own subscription plan perhaps?
They have one, but it's not low enough priced to compete with SS, which is why Getty took over TS and Photos.com and sent most iS files there.
If they went to low cost subs, that would probably be the absolute last straw for many.

« Reply #497 on: July 31, 2013, 17:10 »
0
What are all the 24 cent sales I'm getting for the last two months? I assumed, some kind of low cost subs? I can't even figure out how to see what's being licensed. Just shows up a month later as GI.

What next for IS? Their own subscription plan perhaps?
They have one, but it's not low enough priced to compete with SS, which is why Getty took over TS and Photos.com and sent most iS files there.
If they went to low cost subs, that would probably be the absolute last straw for many.
You are getting GI sales?  Do they show up purple on the graph?

ShadySue

  • There is a crack in everything
« Reply #498 on: July 31, 2013, 17:20 »
0
There have been other reports of indies having GI sales.
http://www.istockphoto.com/forum_messages.php?threadid=355278&page=1
Good luck getting a CR person who clicks the right auto-response button.

« Reply #499 on: July 31, 2013, 17:37 »
0
There have been other reports of indies having GI sales.
http://www.istockphoto.com/forum_messages.php?threadid=355278&page=1
Good luck getting a CR person who clicks the right auto-response button.

In that link he says they show up as partner program sales in green and the details say from Getty Images.  GI sales show up purple and Connect show up as black.


 

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