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Author Topic: Hold on to your wallets! "There are irregularities with October's PP royalties"  (Read 97694 times)

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« Reply #125 on: January 09, 2014, 10:45 »
+2
And we wonder why they have a lack of transparency  ::)


« Reply #126 on: January 09, 2014, 11:10 »
+9
Of all the incompetent, clod-hopping, dimwitted and yokel-minded companies I've had to deal with, Getty/IS takes first prize with bells on.

This will probably wipe out my December PP earnings at the very least - hopefully not more. Useless.

mlwinphoto

« Reply #127 on: January 09, 2014, 11:21 »
0
Of all the incompetent, clod-hopping, dimwitted and yokel-minded companies I've had to deal with, Getty/IS takes first prize with bells on.

This will probably wipe out my December PP earnings at the very least - hopefully not more. Useless.

It's 'only' affecting about 25,000 contributors....maybe you aren't one of them.    ;)

« Reply #128 on: January 09, 2014, 11:23 »
+6
My guess:

They have a yearly competition which department will be able to cause the worst reputation disaster
Probably this competition is organized with a very sophisticated redeemed credit system (please be aware: the calculation of this RC system might be responsible for temporary slow-downs of the site).




« Reply #129 on: January 09, 2014, 11:25 »
+6
I wonder if you can delete your account while you have a negative earnings amount? I think my 11 year old could run a company better than this BS!

« Reply #130 on: January 09, 2014, 11:54 »
+1
What?! It can't be  :o iStock? This biggest king in microstock world and that confusing issues again? One by one...

There are two options (?):
1. Sept. and Oct. earnings are to high and iS will take back some money, or...
2. Nov. is to low, iS wasn't going to check it if not people notice, and... I can't trust them anymore? (it could happen before)

So next week I will know if I close my account now or later...

Let me ask again... Can we trust them?

...rhetorical question...

 ???
« Last Edit: January 09, 2014, 12:04 by Ariene »

ShadySue

  • There is a crack in everything
« Reply #131 on: January 09, 2014, 11:55 »
+1
SNAFU

Posted By heywoody:
How about a bit of detail on how the problem was caused and what precisely was affected?

Lobo:
There was an issue with the data that was sent. It affected the royalties of approximately 25,000 contributors who are Partner Program participants.

http://www.istockphoto.com/forum_messages.php?threadid=358476&messageid=6974806

ShadySue

  • There is a crack in everything
« Reply #132 on: January 09, 2014, 12:01 »
0
What?! It can't be  :o iStock? This biggest king in microstock world and that confusing issues again? One by one...

There are two options (?):
1. Sept. and Oct. earnings are to high and iS will take back some money, or...
2. Nov. is to low, iS wasn't going to check it if not people notice, and... I can't trust them anymore? (it could happen before)

So next week I will know if I close my account now or later...

Let me ask again... Can we trust them?

 ???

No, of course not.
A high admin even admitted years ago it was a 'new kind of trust'  ::) ages before they let him go.

I can't find the quote on iStock, (it was by previous admin JJRD), but I have found a reference I made to it here in March 2011 and it was probably some time before that.

« Reply #133 on: January 09, 2014, 12:04 »
-2
All you can do is wait until Getty buckles under their massive debt and they will be declared bankrupt. Once the cancer is removed from the patient, we will see a healthy growth in royalties again.

As long as key microsite players like SS use price undercutting as a long term growth strategy to capture market share, sites like IS are under pressure to cut or keep image pricing ultra low and that does not beget healthy royalties.

Snip
Jonathan Oringer - Founder, CEO & Chairman of the Board

It still multiples. So it's order of magnitude whether it's if you look at us compared to other stock marketplaces like an iStock or others, it's two or three or four times more expensive to not use Shutterstock. If you look at the higher end sort of more traditional marketed might be 6 or 8 or 10 times more expensive.

http://seekingalpha.com/article/1841072-shutterstocks-management-presents-at-the-goldman-sachs-us-emerging-smid-cap-growth-conference-transcript?page=2&p=qanda&l=last
« Last Edit: January 09, 2014, 12:07 by gbalex »

« Reply #134 on: January 09, 2014, 12:08 »
+5
All you can do is wait until Getty buckles under their massive debt and they will be declared bankrupt. Once the cancer is removed from the patient, we will see a healthy growth in royalties again.

As long as key microsite players like SS use price undercutting as a long term growth strategy to capture market share, site like IS are under pressure to cut or keep image pricing ultra low and that does not beget healthy royalties.

Snip
Jonathan Oringer - Founder, CEO & Chairman of the Board

It still multiples. So it's order of magnitude whether it's if you look at us compared to other stock marketplaces like an iStock or others, it's two or three or four times more expensive to not use Shutterstock. If you look at the higher end sort of more traditional marketed might be 6 or 8 or 10 times more expensive.

http://seekingalpha.com/article/1841072-shutterstocks-management-presents-at-the-goldman-sachs-us-emerging-smid-cap-growth-conference-transcript?page=2&p=qanda&l=last


Why did I just know that your post on a topic about an Istock mistake ... would be to blame SS for it. Classic!

« Reply #135 on: January 09, 2014, 12:45 »
0
oh those canadians, eric cartman was right :/

I think only true payment that they have made so far was that over-calculated one.

Ron

« Reply #136 on: January 09, 2014, 12:51 »
-1
@ gbalex, please open a thread in the SS forum, alternatively [email protected]

Dont bother replying to my comments as I dont care about your quotes.

« Reply #137 on: January 09, 2014, 14:07 »
+3
Just in case I am one of the 25,000 affected, I cashed out.

I would rather owe them money than have them claw it back from me :P. And I don't sell that much so it will be in negative for a while.
« Last Edit: January 09, 2014, 14:09 by wiser »

« Reply #138 on: January 09, 2014, 14:26 »
+17
As usual with those toerags at IS the words "we are sorry", "we apologize" or "we regret" are missing from their vocabulary.

And I still say they owe us a statement from the organ grinder not just the monkey.


« Reply #139 on: January 09, 2014, 14:32 »
+2
All you can do is wait until Getty buckles under their massive debt and they will be declared bankrupt. Once the cancer is removed from the patient, we will see a healthy growth in royalties again.

Cancer removed!!!

Operation succesfull,

Patient died (.... small issues do happen)


« Reply #140 on: January 09, 2014, 14:45 »
+4
iS has position nr 3 in my personal earnings ranking right now.

Wonder if Dreamstime will end up on position nr 3 and iS on nr 4 or 5.

Which will bring them in my 'upload' danger zone.

The competition couldn't have a better start of the Year.

Without any effort  (except doing their job right). SS, FT and DT will grow in numbers due to the incompetence of the iS board and her shareholders.

« Reply #141 on: January 09, 2014, 15:04 »
-4
All you can do is wait until Getty buckles under their massive debt and they will be declared bankrupt. Once the cancer is removed from the patient, we will see a healthy growth in royalties again.

As long as key microsite players like SS use price undercutting as a long term growth strategy to capture market share, sites like IS are under pressure to cut or keep image pricing ultra low and that does not beget healthy royalties.

Snip
Jonathan Oringer - Founder, CEO & Chairman of the Board

It still multiples. So it's order of magnitude whether it's if you look at us compared to other stock marketplaces like an iStock or others, it's two or three or four times more expensive to not use Shutterstock. If you look at the higher end sort of more traditional marketed might be 6 or 8 or 10 times more expensive.

http://seekingalpha.com/article/1841072-shutterstocks-management-presents-at-the-goldman-sachs-us-emerging-smid-cap-growth-conference-transcript?page=2&p=qanda&l=last


That's the truth, and the root cause of problems like this. It's got nothing to do with 'lobo' or his personality.   Why are people minus-ing it?

« Reply #142 on: January 09, 2014, 15:46 »
+5
sorry seems to be the hardest word ;)

« Reply #143 on: January 09, 2014, 16:11 »
+9
The more I think about this my blood boils. They take so much of the sale and can't provide the services they promise. As usual the little guys pays for mistakes they have no control over.

ShadySue

  • There is a crack in everything
« Reply #144 on: January 09, 2014, 16:29 »
0
As usual with those toerags at IS the words "we are sorry", "we apologize" or "we regret" are missing from their vocabulary.
Would you prefer that they lied and pretended they actually GAD?

« Reply #145 on: January 09, 2014, 16:29 »
+3
If my account goes into the negative because of this, I'm closing my account on the spot. I wonder how they will feel about losing money already paid out? Hopefully not too good.

mlwinphoto

« Reply #146 on: January 09, 2014, 16:48 »
+3
If my account goes into the negative because of this, I'm closing my account on the spot. I wonder how they will feel about losing money already paid out? Hopefully not too good.

Actually, when you close your account it takes up to 30 days for your images to come off the PP sites so they will continue to generate income even though you are no longer there.  Final payout is about 60 days after your account closes.  So, in theory, any negative balance you have from this PP clawback should be made up for by the time final payout occurs.  iStock will get it's money.
My account closed today.

« Reply #147 on: January 09, 2014, 16:49 »
+4
If my account goes into the negative because of this, I'm closing my account on the spot. I wonder how they will feel about losing money already paid out? Hopefully not too good.

All of a sudden an ' account closing' glitch will show up till their lawyers have found a way to screw you and suck the last dime out of ya

« Reply #148 on: January 09, 2014, 16:56 »
0
If my account goes into the negative because of this, I'm closing my account on the spot. I wonder how they will feel about losing money already paid out? Hopefully not too good.

Actually, when you close your account it takes up to 30 days for your images to come off the PP sites so they will continue to generate income even though you are no longer there.  Final payout is about 60 days after your account closes.  So, in theory, any negative balance you have from this PP clawback should be made up for by the time final payout occurs.  iStock will get it's money.
My account closed today.

Good point, but that is assuming PP sales are good, which apparently they are not, the good sales where all "just a glitch" all along, so depending on the severity of the over payment, even 60 days may not be enough to "repay" them.

« Reply #149 on: January 09, 2014, 17:01 »
+5
As usual with those toerags at IS the words "we are sorry", "we apologize" or "we regret" are missing from their vocabulary.
Would you prefer that they lied and pretended they actually GAD?

First choice: they were so meticulous and talented in running the site that mistakes didn't happen

Second choice: they actually cared about contributors

Third choice: they respected contributors enough to treat them professionally and apologize profusely when they find they've made a mistake even though they didn't really care



 

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