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Author Topic: "3 Weeks Of Exclusive Prestige" Email  (Read 25937 times)

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« on: June 13, 2008, 14:42 »
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Following on from the "You deserve exclusivity email" I received this email earlier:



For the month of June, the Week One perk was a chance to win a trip to iStockalypse.

Week two is the chance for Silver Canister members to submit to Getty (along with Gold and Diamond members).

Week Three.... who knows?  ;D

The chance to submit to Getty is definitely not enough to entice me into exclusivity, so guess I'll wait for what they announce next week. Honestly thought it would something more exciting, but maybe they left the best announcement until last?


« Reply #1 on: June 13, 2008, 15:05 »
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Yeah, submitting to getty is nice but definately not a HUGE deal.

And this announcement is nothing for people who are already gold or higher.

I am curious what will be the final announcement. My guess is that it will NOT be something HUGE and it won't convince people who are not convinced by now.

bittersweet

« Reply #2 on: June 13, 2008, 15:32 »
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... maybe they left the best announcement until last?

They always do. I can't wait!  ;D I would love a $$ bump but not getting my hopes up. I still think it might be the unlimited uploads for the first 1-2 weeks of exclusivity in order to entice those with large portfolios elsewhere.

helix7

« Reply #3 on: June 13, 2008, 15:56 »
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Someone correct me if I'm wrong, but I seem to recall that this Getty "opportunity" doesn't yield much in terms of earnings for those who have participated via istock.



bittersweet

« Reply #4 on: June 13, 2008, 16:04 »
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You are right to some extent. There is a whole lot more red tape and hassle and you lose the instant gratification of seeing each download in real time (well, as real as it gets these days  ;) ). It has been worthwhile for some who have devoted entire shoots to it, but for those who have uploaded just some things they had lying around, it hasn't been too exciting.

And again the answer to the raise speculation, just posted by an admin:
Quote
(But no, it won't be a raise - sorry!)

« Reply #5 on: June 13, 2008, 16:19 »
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... maybe they left the best announcement until last?
if my memory  isn't toying with me they were talking of some cash prizes yea?I might be just making it up though, let's wait and see what they will come up with.

as for to be given "the privilege " of uploading Getty sounds attractive but not tempting enough for me to go exclusive yet,since it not not the only way to contribute to Getty,is it?

yecatsdoherty

« Reply #6 on: June 13, 2008, 16:58 »
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I am really excited about being able to submit to Getty sooner, even though I hope to be gold this year anyways.

I recently contemplated my exclusivity, just to see what other opportunities were out there, and the poking around REALLY made me appreciate being exclusive....I have decided to stay exclusive with iStock. I spoke to tons of people, seasoned microstock professionals, read tons about it, researched my hiney off....I would definitely recommend exclusivity to anyone on the fence.

bittersweet

« Reply #7 on: June 13, 2008, 18:32 »
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Maybe they are rolling it into the Punctum Day annoucement.

« Reply #8 on: June 13, 2008, 19:36 »
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As a person with a small portfolio on IS (353 images with silver canister)......

I really can't see the value in going exclusive.

So far this year they only make up just over 29%of my microstock income.  Is going exclusive going to tripple my income from them?  I think not.

I'd get a 10% hike in royalties, and I can't see the preferential search placement etc. helping enough to make up the difference.

If there was some hard evidence that it was hugely to my benefit I'd consider it, but for small contributors it doesn't seem to make sense.

« Reply #9 on: June 13, 2008, 22:29 »
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Actually, you'd get a 50% rise in royalties, from 20 to 30 percent.

PaulieWalnuts

  • On the Wrong Side of the Business
« Reply #10 on: June 13, 2008, 22:37 »
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IS is now 80% of my revenue so I would at least be making the same money going exclusive. The trip isn't interesting to me. Getty is a little more interesting but these both seem like more teases to something more significant.

« Reply #11 on: June 14, 2008, 03:44 »
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Judging by the figures quoted by many who have been contributing to getty photodisc via istock I think   for most it's little more than vanity publishing. Certainly the not worthy of the initial "Give up your day job" hype.
« Last Edit: June 14, 2008, 03:46 by thesentinel »

« Reply #12 on: June 14, 2008, 06:50 »
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......I would definitely recommend exclusivity to anyone on the fence.

The problem for me is, I am still unable to find any real evidence of how much my income would increase by being exclusive. Since very few members talk about their earnings, us non-exclusives have no idea exactly what to expect.

I've seen posts from people saying they now earn "two or three times more" since becoming exclusive members, but it's still not solid enough evidence to risk taking a big loss of earnings. Is their Exclusivity Estimator even remotely accurate? I guess the 5% increase estimate may be, but again, I have no real evidence.

If there was any way I could be pretty certain that I'd (at least) double my monthly income, then it would be worth a shot. Just this week I found one of my best selling vectors for sale on a Japanese site, so I'm sure going exclusive would help cut down on theft which is a big bonus.

I'd also like to know how long the average exclusive has to wait for their images to be reviewed, as I really hate waiting 5 - 7 days for a review time.

bittersweet

« Reply #13 on: June 14, 2008, 08:33 »
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I'd also like to know how long the average exclusive has to wait for their images to be reviewed, as I really hate waiting 5 - 7 days for a review time.


I've had files approved within 2 hours of being uploaded. The longest I've ever waited is 4 days and that was before they added several more vector inspectors. The great majority of the times it is around 24 hours.

As far as the earnings, nobody can offer you any guarantees, and I think you know that. The exclusive estimator is pretty worthless. It simply shows a formula for percentage increase and does not factor in any other benefits, such as the fact that once your files are only on istock, you won't be selling the same images elsewhere for less money as you are now. However, that also depends on the uniqueness of your images. If you have concepts that are not flooded and mass-copied by every "quick buck" contributor that happens along, you'll do well. Generic icons and floral grunge swirly backgrounds can be found anywhere, and if that is your specialty there is really going to be no point in going exclusive. (Note, these comments are generalizations and I have not looked at your portfolios. ;) )

« Reply #14 on: June 14, 2008, 19:51 »
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I went exclusive when I reached gold and IS was 64% of my total income. My total monthly income went up by 25% and IS's 50%. This is what happened to me and doesn't have to be what will happen to you, obviusly.

« Reply #15 on: June 14, 2008, 22:47 »
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I went exclusive when I reached gold and IS was 64% of my total income. My total monthly income went up by 25% and IS's 50%. This is what happened to me and doesn't have to be what will happen to you, obviusly.

Hmmm... 125% is roughly double 64%.  So your income doubled.

BUT, as you were already Gold, your income would have increased from 20% commission to 35%, an increase of 75%.

So (64/20)*35=112.  This suggests that the benefit to you from going exclusive in terms of SALES has been an increase from 112 to 125 or about 10%.

This doesn't square with your remark that IS's income went up by 50%.  Given that their cut went down from 80% to 65%, you would have needed a big increase in sales for IS's income to improve.

Perhaps I've misunderstood your numbers.

« Reply #16 on: June 15, 2008, 19:36 »
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Judging by the figures quoted by many who have been contributing to getty photodisc via istock I think   for most it's little more than vanity publishing. Certainly the not worthy of the initial "Give up your day job" hype.

I find this very interesting. I would think that being able to submit to Getty would be one of the prime reasons to go exclusive. Do they not market the Photodisc collection with the same vigor as the rest of their collection? Does the average Micro shooter not know what would sell on the Getty site?

bittersweet

« Reply #17 on: June 15, 2008, 19:40 »
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Judging by the figures quoted by many who have been contributing to getty photodisc via istock I think   for most it's little more than vanity publishing. Certainly the not worthy of the initial "Give up your day job" hype.

I'm curious where these "many" figures have been quoted. Can you post a link please? I've seen a lot of discussion in the hidden Getty forum on istock, but not much concrete anything posted in public. I'd love to see what you are referring to.

thanks!

« Reply #18 on: June 16, 2008, 02:03 »
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Judging by the figures quoted by many who have been contributing to getty photodisc via istock I think   for most it's little more than vanity publishing. Certainly the not worthy of the initial "Give up your day job" hype.

I'm curious where these "many" figures have been quoted. Can you post a link please? I've seen a lot of discussion in the hidden Getty forum on istock, but not much concrete anything posted in public. I'd love to see what you are referring to.

thanks!

For those that can access it look at the April Statements thread in the Getty Contributors forum on istock, which i fear I cannot quote here in case of consequences!

Selling the sizzle and not the sausage.

Microbius

« Reply #19 on: June 16, 2008, 05:10 »
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The stat that I'd love to see is average number of downloads per image for exclusives versus non exclusives. This is the only thing that's difficult to calculate and would quantify all these "increased exposure" and "income boost" claims.
I know most non exclusives don't get 50% of there income through IStock so it's this extra claimed boost that would make the difference.

« Reply #20 on: June 16, 2008, 09:02 »
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[/quote]

For those that can access it look at the April Statements thread in the Getty Contributors forum on istock, which i fear I cannot quote here in case of consequences!

Selling the sizzle and not the sausage.
[/quote]

No access to that area but have my own reports to view and find this interesting that what is implied here is no one is making any decent returns through the regular channels of Getty. The biggest problem with selling macro RF should be getting the images up on a site like Getty. True that not everything sells but I would have thought people would see a good return. If I was a gold exclusive or whatever it takes to submit to Getty I would forward my very best to Getty without a seconds hesitation.

« Reply #21 on: June 16, 2008, 11:22 »
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I went exclusive when I reached gold and IS was 64% of my total income. My total monthly income went up by 25% and IS's 50%. This is what happened to me and doesn't have to be what will happen to you, obviusly.

Hmmm... 125% is roughly double 64%.  So your income doubled.

BUT, as you were already Gold, your income would have increased from 20% commission to 35%, an increase of 75%.

So (64/20)*35=112.  This suggests that the benefit to you from going exclusive in terms of SALES has been an increase from 112 to 125 or about 10%.

This doesn't square with your remark that IS's income went up by 50%.  Given that their cut went down from 80% to 65%, you would have needed a big increase in sales for IS's income to improve.

Perhaps I've misunderstood your numbers.
Sorry, Hatman, I don't understand your numbers... But there's one thing I can asure you, and it is that my total income had an increase of 25% when I went exclusive.

« Reply #22 on: June 16, 2008, 18:03 »
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I went exclusive when I reached gold and IS was 64% of my total income. My total monthly income went up by 25% and IS's 50%. This is what happened to me and doesn't have to be what will happen to you, obviusly.

Hmmm... 125% is roughly double 64%.  So your income doubled.

BUT, as you were already Gold, your income would have increased from 20% commission to 35%, an increase of 75%.

So (64/20)*35=112.  This suggests that the benefit to you from going exclusive in terms of SALES has been an increase from 112 to 125 or about 10%.

This doesn't square with your remark that IS's income went up by 50%.  Given that their cut went down from 80% to 65%, you would have needed a big increase in sales for IS's income to improve.

Perhaps I've misunderstood your numbers.
Sorry, Hatman, I don't understand your numbers... But there's one thing I can asure you, and it is that my total income had an increase of 25% when I went exclusive.

Wow, latex, if I understand your figures correctly, that's quite a jump in earnings and very encouraging.

So purely as an example, and forgetting canister levels for a moment:

Say as a non-exclusive you were earning $500 total a month, of which iStock earnings were $250, and a few other sites made up the rest.

A 25% total increase takes you from $500 to $625 a month, which means your iStock earnings went from the original $250 to $625 a month once you became exclusive. If I've not miscalculated, then that's pretty impressive!!
« Last Edit: June 16, 2008, 18:05 by designalldone »

« Reply #23 on: June 16, 2008, 19:09 »
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Judging by the figures quoted by many who have been contributing to getty photodisc via istock I think   for most it's little more than vanity publishing. Certainly the not worthy of the initial "Give up your day job" hype.

I believe this is true.
Getty's shares have declined more than 55 percent before it got sold. Its shares fell 10 percent in August, when the company lowered its full-year profit estimate because of competition from microstock rivals. In November, it reported a third-quarter profit of $25.7 million, down 31 percent from a year earlier.
Can we give up our day job by submitting to Getty? I don't think so!

If there was some hard evidence that it was hugely to my benefit I'd consider it, but for small contributors it doesn't seem to make sense.

Good point. My portfolio is even smaller! And I don't need a higher upload limit because I don't work so fast.

« Reply #24 on: June 17, 2008, 12:41 »
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Wow, latex, if I understand your figures correctly, that's quite a jump in earnings and very encouraging.

So purely as an example, and forgetting canister levels for a moment:

Say as a non-exclusive you were earning $500 total a month, of which iStock earnings were $250, and a few other sites made up the rest.

A 25% total increase takes you from $500 to $625 a month, which means your iStock earnings went from the original $250 to $625 a month once you became exclusive. If I've not miscalculated, then that's pretty impressive!!



Yes! You understood me... something like that. In my case, it was a very good move  :)
These were the stats when I went exclusive:



 

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