pancakes

MicrostockGroup Sponsors


Author Topic: iStock New Sub. Model Just Announced!  (Read 25410 times)

0 Members and 1 Guest are viewing this topic.

« Reply #50 on: March 04, 2014, 05:17 »
0
it's a wrap guys, exclusives just noticed they will have tons of downloads with this new strategy, iStock has something I still haven't figure it out, oh must be the community feeling ;D


« Reply #51 on: March 04, 2014, 05:52 »
+8
I wonder what percentage is being paid out. Back when they introduced the subs in the pp program, we were told they wanted to give us 22%. But contributors insisted on a fixed price for subs,so they wouldn't get extremly low royalties. Kelly then negotiated an agreement that started at 42 cents, right? And that would have been below 22% to mitigate the risk for getty.

Now exclusives will get 34 cents for the main collection. But they don't get any of the benefits of SS additional earnings, like the 28 or 80 or 120 dollar downloads. These downloads are not a myth, they are a significant part of the earnings on SS.

And on SS  the files are not exclusive, they can all earn additional money elsewhere.

Didn't they just promise exclusives their files would no longer be mirrored to Thinkstock, so they would remain in the highest earning bracket?

But don't worry...now the Thinkstock program comes to istock...

So only the Vetta content is protected from subs. Which is 0.2% of the collection of the last 6 months as David pointed out.

And most of all: I really don't believe this will stop customers from leaving. Because the advantages of SS are a lot more than the subs program.

But I do see a lot of internal cannibalization, i.e. customers that are now on a credit plan switching to subs. Remember how their sales team went after the istock customers to get them to join Thinkstock? Obviously many people, too many people, stayed with istock. So the incredibly exciting program from Thinkstock is brought to istock...

Very sad. The subs program must be generating a huge amount of money for them. So the real royalties paid out must be incredibly low.

And the exclusives are now locked into subs with all their content, without the usual advantage of supplying sub sites: the freedom to decide which files you send there...

« Reply #52 on: March 04, 2014, 06:01 »
+2
right Jasmin but you must be missing something iStock is indulging, just think it is a new strategy and like everything new is exciting, that is positive ;D (don't think of anything else!)

there isn't a single announcement they have released that haven't started with "We' re excited to...", what are they smoking out there?
« Last Edit: March 04, 2014, 06:04 by luissantos84 »

« Reply #53 on: March 04, 2014, 06:09 »
+14
Wow ... I didn't expect to wake up to this news!

The way I interpret this latest move is that IS has essentially given up on their historical model. They have raised the white flag of surrender to SS. I've never understood how IS can have 'exclusive' images priced at 10x more (for a Medium file) than 'Main collection' amongst them. There's no difference in quality so where's the additional value to the buyer for that? It must be soooo irritating to customers on a budget. Hardly surprising that it's not working for them.

For independent contributors I don't think that this will make too much difference. Our income from IS has already been slashed by so much that there's little left to lose. I doubt that many existing SS sub customers will move to IS subs instead. Most likely TS customers will move to IS for their subs (and no doubt those customers will also be directly targeted by Getty/IS in their marketing). In that respect this is just moving the deckchairs around the sinking ship.

For exclusive contributors at IS this is probably the final nail in the coffin. It's difficult to see how incomes can be maintained with this sub model. As others have said, expect to see a rash of crowns being handed back over the summer.

Oh well ... another sh1tty day in paradise for us.
« Last Edit: March 04, 2014, 06:12 by gostwyck »

Ron

« Reply #54 on: March 04, 2014, 06:12 »
0
it's a wrap guys, exclusives just noticed they will have tons of downloads with this new strategy, iStock has something I still haven't figure it out, oh must be the community feeling ;D
I dont see a lot of happy exclusives posting on the IS forum.

« Reply #55 on: March 04, 2014, 06:14 »
0
it's a wrap guys, exclusives just noticed they will have tons of downloads with this new strategy, iStock has something I still haven't figure it out, oh must be the community feeling ;D
I dont see a lot of happy exclusives posting on the IS forum.

I don't see one saying "will drop the crown", perhaps thinking of getting a deal

JKB

« Reply #56 on: March 04, 2014, 06:16 »
+8
Being a mostly patient (docile) iStock exclusive, any new change of direction seriously worries me since June last year, when it was promised that every image would find its sweet spot at the right price, while, as a lot of us have no doubt found out, a lot of good sellers were already at the right price point and have now more or less stopped selling.

Even though it is still possible to have good months, the dwindling number of downloads and strange sales pattern of ups and downs, makes it pretty obvious iStock has lost its momentum.

Leafing through an old Scott Kelby book the other day - from 2006, I think - I came across several passages where he praised "the good guys at iStock". How things have changed, sadly.

I know it's futile but still can't help wondering what would have happened if iStock hadn't introduced the RC system in the first place, angering its contributor base and paving the way for a string of further dubious business decisions, no doubt having seriously underestimated the marketing value of being seen as "the good guys at iStock".

Ron

« Reply #57 on: March 04, 2014, 06:19 »
0
it's a wrap guys, exclusives just noticed they will have tons of downloads with this new strategy, iStock has something I still haven't figure it out, oh must be the community feeling ;D
I dont see a lot of happy exclusives posting on the IS forum.

I don't see one saying "will drop the crown", perhaps thinking of getting a deal
That doesnt mean they are OK with the sub plan, imo. I have seen a lot of complaining crowns.

« Reply #58 on: March 04, 2014, 06:21 »
0
it's a wrap guys, exclusives just noticed they will have tons of downloads with this new strategy, iStock has something I still haven't figure it out, oh must be the community feeling ;D
I dont see a lot of happy exclusives posting on the IS forum.

I don't see one saying "will drop the crown", perhaps thinking of getting a deal
That doesnt mean they are OK with the sub plan, imo. I have seen a lot of complaining crowns.

do I need to quote them? guess it wouldn't be polite

« Reply #59 on: March 04, 2014, 06:22 »
+5
I know it's futile but still can't help wondering what would have happened if iStock hadn't introduced the RC system in the first place, angering its contributor base and paving the way for a string of further dubious business decisions, no doubt having seriously underestimated the marketing value of being seen as "the good guys at iStock".

There were indeed "good guys at iStock". Unfortunately they were told what to do by their masters at Getty and H&F. The pursuit of short-term profits destroyed the business ... and now "the good guys at iStock" have all gone.

ShadySue

« Reply #60 on: March 04, 2014, 06:27 »
+2
B*stards.
I said often, and only earlier this afternoon by SM here that I was sure this was why they've been suppressing new files for so long; and so it has proved.
Sell files stupidly cheaply, just like SS, and don't even give us RCs.
B*stards.
Sadly, I'm busy until Friday, but then time to start working out which files will be deactivated before April begins.
Just furious.
If I wanted to sell for stupid prices, I'd be on SS.
B*stards. (Did I say that?)

stupid prices??? agree.... BUT don't forget the volume... the big majority are reporting SS as the biggest earner.

At the end they are not so ''stupid''  ;)
Maybe, but only for certain types of images. Of people I know personally who supply / used to supply there, the volume is poor, though the quality of their images is excellent, just not what American buyers are looking for.
Ulitmately, the pile 'em high, sell 'em cheap means less choice for the buyers as there's no incentive to produce lower demand images.
« Last Edit: March 04, 2014, 06:30 by ShadySue »

« Reply #61 on: March 04, 2014, 06:31 »
0
B*stards.
I said often, and only earlier this afternoon by SM here that I was sure this was why they've been suppressing new files for so long; and so it has proved.
Sell files stupidly cheaply, just like SS, and don't even give us RCs.
B*stards.
Sadly, I'm busy until Friday, but then time to start working out which files will be deactivated before April begins.
Just furious.
If I wanted to sell for stupid prices, I'd be on SS.
B*stards. (Did I say that?)

stupid prices??? agree.... BUT don't forget the volume... the big majority are reporting SS as the biggest earner.

At the end they are not so ''stupid''  ;)
Maybe, but only for certain types of images. Of people I know personally who supply / used to supply there, the volume is poor, though the quality of their images is excellent, just not what American buyers are looking for.

only 10-15% of my SS sales are from US buyers, weird but only 1% from last month (hope I can give this information)

Ron

« Reply #62 on: March 04, 2014, 06:37 »
+1
it's a wrap guys, exclusives just noticed they will have tons of downloads with this new strategy, iStock has something I still haven't figure it out, oh must be the community feeling ;D
I dont see a lot of happy exclusives posting on the IS forum.

I don't see one saying "will drop the crown", perhaps thinking of getting a deal
That doesnt mean they are OK with the sub plan, imo. I have seen a lot of complaining crowns.

do I need to quote them? guess it wouldn't be polite
The majority is not happy with it, thats the point. Its not that all exclusives are jumping at this news.

ShadySue

« Reply #63 on: March 04, 2014, 06:44 »
+2
there isn't a single announcement they have released that haven't started with "We' re excited to...", what are they smoking out there?
It's easy to be excited when you don't have any images to be messed around with.

« Reply #64 on: March 04, 2014, 06:58 »
+1
there isn't a single announcement they have released that haven't started with "We' re excited to...", what are they smoking out there?
It's easy to be excited when you don't have any images to be messed around with.

exactly, I just don't understand how they feel they can push exclusives even further, you guys must be doing a lot of money from iStock because the perspective of things outside isn't that bad, you have Stocksy and of course all other agencies, not saying it would make up all your income but it would be a lot more stable, perhaps more work in terms of submitting but honestly I would trade any 10 agencies for the submission at iStock (excluding Alamy)

the case that comes to my head is Sean's, ok he is far from his previous income but at least he is trying to build his "second" career working in all agencies, must be tough but doable

we know better our work and sales than any other so it's up to you/me to decide what is best

« Reply #65 on: March 04, 2014, 07:01 »
+12
hmmm - I remember someone going loudly exclusive with IS because SS was the demon with the subscription model. And what do you say now...?

Professionals deal with professionals*

Lol, I forgot all about that!
"Hi Guys.
We have found a good distribution partner (Getty Images) for the kind of content we produce. We will be removing all images from microstock doing the next few weeks. Microstock, especially subscription sites, are not suited for the kind of high production cost images we produce.
Best Yuri"

« Reply #66 on: March 04, 2014, 07:06 »
+3
.
« Last Edit: May 11, 2014, 23:55 by tickstock »

« Reply #67 on: March 04, 2014, 07:06 »
+4
From Lobo

Quote
We will be revisiting the idea of allowing RCs to apply to Image Subscriptions after we see how things go.

I doubt they'll be revisiting anything, just like they haven't revisited moving images from one level to another.  The sub plan doesn't pay out based on royalty level, so why would sales through it affect royalty level?

Although it won't matter when they switch buyers over because eventually RCs won't matter at all.
« Last Edit: March 04, 2014, 07:10 by Sean Locke Photography »

« Reply #68 on: March 04, 2014, 07:08 »
+1
.
« Last Edit: May 11, 2014, 23:55 by tickstock »

« Reply #69 on: March 04, 2014, 07:11 »
0
I just looked through the entire thread, there is not one happy exclusive.  Take Luis's posts with a grain of salt.

yeah you should cut on the salt, try some spices! but actually I have never said there were happy contributors, pretty much a few are getting comfy waiting to see what will happen showing they still have hope

why aren't you anyway dude?

« Reply #70 on: March 04, 2014, 07:12 »
+6
I think Vetta is excluded, which is most of his work isn't it?

His work will probably be excluded, no matter in which collection it is. Same as his work is excluded from exclusivity ;D

ShadySue

« Reply #71 on: March 04, 2014, 07:14 »
+3
hmmm - I remember someone going loudly exclusive with IS because SS was the demon with the subscription model. And what do you say now...?

Professionals deal with professionals*

Lol, I forgot all about that!
"Hi Guys.
We have found a good distribution partner (Getty Images) for the kind of content we produce. We will be removing all images from microstock doing the next few weeks. Microstock, especially subscription sites, are not suited for the kind of high production cost images we produce.
Best Yuri"
I think Vetta is excluded, which is most of his work isn't it?
In his Yuri pseudo, he has 58787 files lower than S+, of which 9947 are main.
In his Yuri_Arcurs pseudo, he has 34415 lS files.
If he has another pseudo, I don't know about it. Do tell.

« Reply #72 on: March 04, 2014, 07:14 »
+2
hmmm - I remember someone going loudly exclusive with IS because SS was the demon with the subscription model. And what do you say now...?

Professionals deal with professionals*

Lol, I forgot all about that!
"Hi Guys.
We have found a good distribution partner (Getty Images) for the kind of content we produce. We will be removing all images from microstock doing the next few weeks. Microstock, especially subscription sites, are not suited for the kind of high production cost images we produce.
Best Yuri"
I think Vetta is excluded, which is most of his work isn't it?

3.800 Vetta files among 110.000 in his portfolios...

« Reply #73 on: March 04, 2014, 07:16 »
-1
ouuuch! charlie bit me!

« Reply #74 on: March 04, 2014, 07:16 »
+9
I just looked through the entire thread, there is not one happy exclusive.  Take Luis's posts with a grain of salt.

yeah you should cut on the salt, try some spices! but actually I have never said there were happy contributors, pretty much a few are getting comfy waiting to see what will happen showing they still have hope

I'd take it more as seeing many of them don't have much choice. There are quite a few among them who are most likely right when they believe they couldn't make more money being non-exclusive. And they most certainly can't risk dropping 80% of their income right now hoping to make more in a distant future. So they sure have hope because it's the only thing they can.


 

Related Topics

  Subject / Started by Replies Last post
0 Replies
1145 Views
Last post July 29, 2007, 09:15
by perkmeup
2 Replies
2747 Views
Last post July 14, 2008, 06:44
by Adeptris
40 Replies
17310 Views
Last post February 14, 2009, 13:01
by yingyang0
4 Replies
6917 Views
Last post August 30, 2010, 10:55
by RGebbiePhoto
8 Replies
3014 Views
Last post December 05, 2013, 16:07
by heywoody

Sponsors

Microstock Poll Results