pancakes

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Author Topic: Getty Announces 5 Decimal Point Payouts!  (Read 2724 times)

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mattdixon

« on: April 01, 2013, 14:10 »
0


« Reply #1 on: April 01, 2013, 14:25 »
+4
This will help with their nanostock payments.  I'm surprised there hasn't been more discussion about that.  It was another big motivation to get my best images off istock.
http://www.microstockgroup.com/istockphoto-com/interesting-times-in-which-to-live/

« Reply #2 on: April 01, 2013, 16:12 »
0
They probably thought they could get away with it and have been forced to comply with a Federal Copyright Regulation. For instance in computing cable royalties there are Federal regulations in place mandating that they round off to the third decimal point.

In general it makes you wonder just how much rounding down has been going on in the industry.

"(4) In computing a DSE, a cable system may round off to the third decimal point. ... following definitions shall also apply: (i) Current base rate means the applicable royalty rates in effect on December 31, 1982, as reflected in 37 CFR 256.2(a)."

http://books.google.com/books?id=c-D3nXk5NPsC&pg=PA1811&dq=cable,+royalty,+third+decimal&hl=en&sa=X&ei=l_RZUe-MOKmZiQKXsYHIDg&ved=0CE4Q6AEwAw#v=onepage&q=cable%2C%20royalty%2C%20third%20decimal&f=false

Poncke

« Reply #3 on: April 01, 2013, 16:40 »
0
IS rounds of cents early on in a calculation resulting in missing out on dollars.

« Reply #4 on: April 01, 2013, 17:37 »
0
It sounds like this is regarding their relatively new Connect program that gives fractional amounts on pay-per-view when images are used in partner advertising.  When it was announced the question was what miniscule fraction of a cent would be paid for views and how much would it add up. 

Ed

« Reply #5 on: April 01, 2013, 22:23 »
+1
Hmmmmm...and didn't Canada just eliminate the use of the penny?

« Reply #6 on: April 03, 2013, 08:05 »
0
Yes - no more pennies. Merchants round cash payments up or down to the nearest nickel. Pennies are still used in electronic transactions like debit or credit sales.


 

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