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Author Topic: Hold on to your wallets! "There are irregularities with October's PP royalties"  (Read 71782 times)

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ShadySue

  • There is a crack in everything
« Reply #150 on: January 09, 2014, 17:10 »
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?

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

I'd go for one or two, but by not lying, they let us all know exactly what we're dealing with.
In case anyone was still in any doubt.


« Reply #151 on: January 09, 2014, 18:42 »
0
I don't know what to say... I'll be losing hundreds of Dollars if the October earnings were actually supposed to be more like the November earnings...

« Reply #152 on: January 09, 2014, 18:49 »
+9
It is so utterly unprofessional that one might think iS does it on purpose. One might even think... is there a strategy behind the performance of iS?

Reminds me of a John Cleese film.... How to iritate people

Goofy

« Reply #153 on: January 09, 2014, 19:03 »
+5
I've heard of being 'Serviced' but this isn't what I had in mind... :-[



Ron

« Reply #154 on: January 10, 2014, 02:34 »
-2
I've heard of being 'Serviced' but this isn't what I had in mind... :-[
What, you rather have Lobo serve you with a dance?

South Park - You Just Got F'd in the A



« Reply #155 on: January 10, 2014, 06:13 »
+8

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


No one's hands are clean in the race for the bottom. Contributors aren't stupid. If you sell licenses for $15 and only pay the contributor 15%, the contributor knows they are better off selling at another agency for $5 and taking 50%, as they get more sales and more money per sale (demand curves and all that), and so the cycle goes.


« Reply #156 on: January 10, 2014, 07:34 »
+18
The 15% we "make" is the bottom royalty in this market! In case we redeemed enough credits we can even earn a whooping 16%. To reach the 16% we need to redeem 1500 credits. This is $ 1,750.71 in earnings. By that time IS earned their 85% and this is 11,671.43. Talking about making money!

Noedelhap

  • www.colincramm.com

« Reply #157 on: January 10, 2014, 10:56 »
+6
My blood is boiling. I can never trust iStock again (not that I ever did). If there's a big bunch of sales, it's credit card fraud and the money gets refunded. If the PP royalties for ONE SINGLE MONTH turn out to be rather good, it's an overpayment.

It's as if they don't want us to to make any decent money.
« Last Edit: January 10, 2014, 11:10 by Noedelhap »

ShadySue

  • There is a crack in everything
« Reply #158 on: January 10, 2014, 11:22 »
+2
If the PP royalties for ONE SINGLE MONTH turn out to be rather good, it's an overpayment.
Not for an instant defending iStock's gross incompetence, malice etc., but it surely was suspicious in 'one single month' that in the PP so many people were suddenly reporting a vastly increased RPD, with no evidence that there was any reason for it.

« Reply #159 on: January 10, 2014, 11:51 »
0
No update this week per Lobo

ShadySue

  • There is a crack in everything
« Reply #160 on: January 10, 2014, 12:14 »
0
No update this week per Lobo
He has amended the first post in that thread
UPDATE: January 9, 2014.

Weve had the Finance team go back over the royalty payments for September and October and have discovered some issues with a portion of the Partner Program participants payments. This issue impacts approximately 25,000 contributor accounts. We will be sending the affected contributors email notifications of the total amount over paid as well as a recoupment schedule in the very near future.

Has the issue that caused this over payment been addressed?
- Yes, we discovered it in December 2013 prior to the delivery of the November Partner Program royalties.

Why wasnt the contributor base notified earlier?
- We werent able to identify the extent of the issue until early January 2014.

How will the affected contributors be contacted?
- We will be sending email notifications to the impacted contributors in the next week. We will notify this thread as soon as the emails start going out. Please note, if you dont receive an email then your account isnt affected.

« Reply #161 on: January 10, 2014, 13:54 »
-1
I posted it on istock forum but it was deleted instantly. But here they can't do anything

After reading this article it's become clear that this is a fraud. They desperately looking how to reducing debt. And I don't want to pay for that.

https://www.moodys.com/research/Moodys-downgrades-Getty-to-B3-from-B2-Outlook-is-Stable--PR_285298

P.S I don't understand why they delete my post on istockpoto forum. Because it's not a secret information. Everybody can find it and read.

After all this I've decided to start delete my portfolio from istockphoto. I don't believe them any more.
« Last Edit: January 10, 2014, 14:39 by mayaartist »

Noedelhap

  • www.colincramm.com

« Reply #162 on: January 10, 2014, 15:13 »
+3
I posted it on istock forum but it was deleted instantly. But here they can't do anything

After reading this article it's become clear that this is a fraud. They desperately looking how to reducing debt. And I don't want to pay for that.

https://www.moodys.com/research/Moodys-downgrades-Getty-to-B3-from-B2-Outlook-is-Stable--PR_285298

P.S I don't understand why they delete my post on istockpoto forum. Because it's not a secret information. Everybody can find it and read.

After all this I've decided to start delete my portfolio from istockphoto. I don't believe them any more.

I don't think it's fraud. They're just incompetent.

« Reply #163 on: January 10, 2014, 16:14 »
0
Quote
Posted by: Noedelhap
on: Today at 15:13 Insert Quote
Quote from: mayaartist on Today at 13:54
I posted it on istock forum but it was deleted instantly. But here they can't do anything

After reading this article it's become clear that this is a fraud. They desperately looking how to reducing debt. And I don't want to pay for that.

https://www.moodys.com/research/Moodys-downgrades-Getty-to-B3-from-B2-Outlook-is-Stable--PR_285298

P.S I don't understand why they delete my post on istockpoto forum. Because it's not a secret information. Everybody can find it and read.

After all this I've decided to start delete my portfolio from istockphoto. I don't believe them any more.

I don't think it's fraud. They're just incompetent.

I just can't afford to get even less than 15% it's just a pure slavery.

« Reply #164 on: January 10, 2014, 16:29 »
+7
After all this I've decided to start delete my portfolio from istockphoto. I don't believe them any more.
And I did it this morning. I've asked to deactivate all my files and waiting to payout after Jan. end when PP is calculated. I'm sick of this 15%, 0,08$ and often all issues here :|

« Reply #165 on: January 10, 2014, 16:39 »
+2
Quote
Ariene
 

Reply #164 on: Today at 16:29
Quote #link+1   
Quote from: mayaartist on Today at 13:54
After all this I've decided to start delete my portfolio from istockphoto. I don't believe them any more.
And I did it this morning. I've asked to deactivate all my files and waiting to payout after Jan. end when PP is calculated. I'm sick of this 15%, 0,08$ and often all issues here :|

Hi Ariene,
I absolutely agree with you. I can't tolerate the IS behavior any more

« Reply #166 on: January 10, 2014, 17:07 »
+2
I posted it on istock forum but it was deleted instantly. But here they can't do anything

After reading this article it's become clear that this is a fraud. They desperately looking how to reducing debt. And I don't want to pay for that.

https://www.moodys.com/research/Moodys-downgrades-Getty-to-B3-from-B2-Outlook-is-Stable--PR_285298

P.S I don't understand why they delete my post on istockpoto forum. Because it's not a secret information. Everybody can find it and read.

After all this I've decided to start delete my portfolio from istockphoto. I don't believe them any more.

Lol, I just posted the same thing and it was deleted as well.

« Reply #167 on: January 10, 2014, 17:16 »
0
I posted it on istock forum but it was deleted instantly. But here they can't do anything

After reading this article it's become clear that this is a fraud. They desperately looking how to reducing debt. And I don't want to pay for that.

https://www.moodys.com/research/Moodys-downgrades-Getty-to-B3-from-B2-Outlook-is-Stable--PR_285298

P.S I don't understand why they delete my post on istockpoto forum. Because it's not a secret information. Everybody can find it and read.

After all this I've decided to start delete my portfolio from istockphoto. I don't believe them any more.

Lol, I just posted the same thing and it was deleted as well.

Ok, new update, they have banned me from the forums for posting that link.

« Reply #168 on: January 10, 2014, 17:24 »
+1

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


No one's hands are clean in the race for the bottom. Contributors aren't stupid. If you sell licenses for $15 and only pay the contributor 15%, the contributor knows they are better off selling at another agency for $5 and taking 50%, as they get more sales and more money per sale (demand curves and all that), and so the cycle goes.

If you think I was defending IS on any level you are wrong. I completely agree that many sites are contributing in the race to the bottom.  I was simply responding to Ron's comment that we will see healthy royalties again at IS if and when Getty goes bankrupt. I simply detailed and documented one key reason I don't think we will see healthy royalties in the near term at any micro site.  That being price undercutting as a company growth strategy.

In addition I think we will see sites spending more $$$$$$$ attracting and then promoting new contributors in searches so that they can pay out a lower % royalties. 

How low do you suppose they will be willing to go in the devaluation of our assets?

As to the claw back, isn't this what we have come to expect when doing business with IS?  I cut them free after the Google Drive fiasco.

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.

« Reply #169 on: January 10, 2014, 17:28 »
+5
I'm so angry right now ! It's not CONTRIBUTORS fault it errors happens. So it's totally unfair they take our money back. They already got more than 80% on our sales and it's still not enough ? They don't answers and they delete our post. *.

I'Ve been a part of istock since 2004, was exclusive and diamond. I earned them big money. Now look how they thanks us ?  With their stupid redeem credit system I lost all ! Then remove exclusivity to get opportunity on other agencies. So not the peanuts I have there, they taking it back ! WOW ! I'm so MAD !!! What a wrong way to start year 2014 !

Any lawyer here ? That should be illegal !


mlwinphoto

« Reply #170 on: January 10, 2014, 17:38 »
0
I'm the last one to stand up for iStock in any way, shape, or form (note, I closed my account yesterday and am officially outta there).  But, if I'm not mistaken someone (Lobo?) said that the Oct PP figure fiasco was due to a reporting error?  Whose error?  iStock's or the partner sites themselves?  Considering iStock's track record I would assume the blame lies with them but do we know that for sure?  Since I can't get into the forums any longer maybe someone can enlighten me; although I'm not sure why, or if, I care.

« Reply #171 on: January 10, 2014, 17:42 »
0
Quote
bpepz

Reply #167 on: Today at 17:16
Quote #link0   
Quote from: bpepz on Today at 17:07
Quote from: mayaartist on Today at 13:54
I posted it on istock forum but it was deleted instantly. But here they can't do anything

After reading this article it's become clear that this is a fraud. They desperately looking how to reducing debt. And I don't want to pay for that.

https://www.moodys.com/research/Moodys-downgrades-Getty-to-B3-from-B2-Outlook-is-Stable--PR_285298

P.S I don't understand why they delete my post on istockpoto forum. Because it's not a secret information. Everybody can find it and read.

After all this I've decided to start delete my portfolio from istockphoto. I don't believe them any more.

Lol, I just posted the same thing and it was deleted as well.

Ok, new update, they have banned me from the forums for posting that link.
I had  two site mails form Lobo when I posted it. And than I started deleting my images.

« Reply #172 on: January 10, 2014, 17:49 »
0
Quote
bpepz

Reply #167 on: Today at 17:16
Quote #link0   
Quote from: bpepz on Today at 17:07
Quote from: mayaartist on Today at 13:54
I posted it on istock forum but it was deleted instantly. But here they can't do anything

After reading this article it's become clear that this is a fraud. They desperately looking how to reducing debt. And I don't want to pay for that.

https://www.moodys.com/research/Moodys-downgrades-Getty-to-B3-from-B2-Outlook-is-Stable--PR_285298

P.S I don't understand why they delete my post on istockpoto forum. Because it's not a secret information. Everybody can find it and read.

After all this I've decided to start delete my portfolio from istockphoto. I don't believe them any more.

Lol, I just posted the same thing and it was deleted as well.

Ok, new update, they have banned me from the forums for posting that link.
I had  two site mails form Lobo when I posted it. And than I started deleting my images.

seems they are really sensitive about that article. I'm banned now for posting it.

pieman

  • I'm Lobo
« Reply #173 on: January 10, 2014, 17:53 »
-2
Quote
bpepz

Reply #167 on: Today at 17:16
Quote #link0   
Quote from: bpepz on Today at 17:07
Quote from: mayaartist on Today at 13:54
I posted it on istock forum but it was deleted instantly. But here they can't do anything

After reading this article it's become clear that this is a fraud. They desperately looking how to reducing debt. And I don't want to pay for that.

https://www.moodys.com/research/Moodys-downgrades-Getty-to-B3-from-B2-Outlook-is-Stable--PR_285298

P.S I don't understand why they delete my post on istockpoto forum. Because it's not a secret information. Everybody can find it and read.

After all this I've decided to start delete my portfolio from istockphoto. I don't believe them any more.

Lol, I just posted the same thing and it was deleted as well.

Ok, new update, they have banned me from the forums for posting that link.
I had  two site mails form Lobo when I posted it. And than I started deleting my images.

seems they are really sensitive about that article. I'm banned now for posting it.
No, it's not that. You posted it three times and ignored my sitemails indicating the article you are linking was from October 31, 2013 and it was in no way related to the Partner Program issues.

« Reply #174 on: January 10, 2014, 18:05 »
+7
the article you are linking was from October 31, 2013 and it was in no way related to the Partner Program issues.

Why couldn't you just say "it is in no way related to the Partner Program issues" and leave the link there? I hope you do understand that all this hiding and other shenanigans seem very suspicious?


 

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