MicrostockGroup Sponsors


Poll

iStock sales VOLUME since the start of Jy?

Independent - Significantly up
Independent - About the same
Independent - Significantly down
Exclusive - Significantly up
Exclusive - About the same
Exclusive - Significantly down

Author Topic: Istock sales since price changes  (Read 27879 times)

0 Members and 1 Guest are viewing this topic.

dbvirago

« Reply #125 on: July 19, 2013, 10:04 »
0
I voted about the same based on the question. For me, they dropped from a 2nd or 3rd place agency to 5th or 6th place at the end of 2008 and never recovered.


« Reply #126 on: July 19, 2013, 10:06 »
0
I'm having my BME at iStock...previously May 2013 was my BME. I have only been in the game since 2011, so I'm pretty new.

« Reply #127 on: July 19, 2013, 10:20 »
+1
I know this isn't a complete survey of what has happened since the price changes - and perhaps there's someone happy that their income (not just sales) is through the roof since the changes, but I haven't heard anyone say that so far - but the amount that iStock loses when an indie contributor's income is cut in half is huge. I know everyone knows that, but I think I'm slow on the uptake :)

So if an indie contributor (let's say at 16% to pick one of the royalty levels) earned $160 last month and that is cut in half to $80 this month, that means iStock's revenue of $840 las month is halved to $420, if I have this right? How can this not be a huge revenue hit for them, and how many months will they keep doing this in the hope that enough additional sales will materialize to make them better off (I know they don't care about contributors being better off)

Nothing wrong with your maths JoAnne. Istock are taking a massive hit to their own revenue too. I guess, from their data, they concluded that they had no choice to do so if they were to save the business. Such was the decline in sales that contributors were reporting, had it continued at the same rate, they'd have had virtually no sales at all within a couple of years.

wds

« Reply #128 on: July 19, 2013, 12:32 »
0
I know this isn't a complete survey of what has happened since the price changes - and perhaps there's someone happy that their income (not just sales) is through the roof since the changes, but I haven't heard anyone say that so far - but the amount that iStock loses when an indie contributor's income is cut in half is huge. I know everyone knows that, but I think I'm slow on the uptake :)

So if an indie contributor (let's say at 16% to pick one of the royalty levels) earned $160 last month and that is cut in half to $80 this month, that means iStock's revenue of $840 las month is halved to $420, if I have this right? How can this not be a huge revenue hit for them, and how many months will they keep doing this in the hope that enough additional sales will materialize to make them better off (I know they don't care about contributors being better off)

One thing that helps mitigate that loss is the "promotion" of many exclusive files to S+ (or Vetta). Perhaps iStock calculated that they could take the hit in "demoted file" income (mostly independents) by offsetting it with "promoted file" income (mostly exclusives). Certainly they could make the necessary calculation and "promote" the necessary number of files to make that happen since they now have total control over what file goes in what collection.

« Reply #129 on: July 19, 2013, 12:45 »
0
I know this isn't a complete survey of what has happened since the price changes - and perhaps there's someone happy that their income (not just sales) is through the roof since the changes, but I haven't heard anyone say that so far - but the amount that iStock loses when an indie contributor's income is cut in half is huge. I know everyone knows that, but I think I'm slow on the uptake :)

So if an indie contributor (let's say at 16% to pick one of the royalty levels) earned $160 last month and that is cut in half to $80 this month, that means iStock's revenue of $840 las month is halved to $420, if I have this right? How can this not be a huge revenue hit for them, and how many months will they keep doing this in the hope that enough additional sales will materialize to make them better off (I know they don't care about contributors being better off)

One thing that helps mitigate that loss is the "promotion" of many exclusive files to S+ (or Vetta). Perhaps iStock calculated that they could take the hit in "demoted file" income (mostly independents) by offsetting it with "promoted file" income (mostly exclusives). Certainly they could make the necessary calculation and "promote" the necessary number of files to make that happen since they now have total control over what file goes in what collection.
But they have no control over the direction the buyer goes in, which makes it look like a huge gamble - especially as their current advertising drive is based on being cheap.

lisafx

« Reply #130 on: July 19, 2013, 12:53 »
0

One thing that helps mitigate that loss is the "promotion" of many exclusive files to S+ (or Vetta). Perhaps iStock calculated that they could take the hit in "demoted file" income (mostly independents) by offsetting it with "promoted file" income (mostly exclusives). Certainly they could make the necessary calculation and "promote" the necessary number of files to make that happen since they now have total control over what file goes in what collection.
But they have no control over the direction the buyer goes in, which makes it look like a huge gamble - especially as their current advertising drive is based on being cheap.

Not to mention that they take a much higher percentage of each indie sale than they get from exclusive sales. 

Any way you look at it, they are taking a huge financial hit. 

« Reply #131 on: July 19, 2013, 13:17 »
0
" if I have this right? How can this not be a huge revenue hit for them"

They'll make it back next year when everyone drops 2 royalty levels.

« Reply #132 on: July 19, 2013, 13:20 »
+1
One thing that helps mitigate that loss is the "promotion" of many exclusive files to S+ (or Vetta). Perhaps iStock calculated that they could take the hit in "demoted file" income (mostly independents) by offsetting it with "promoted file" income (mostly exclusives).

From the complaints I'm hearing from some exclusives (worst week/month since (some long ago year)), I don't hear a lot of happy exclusives. There may be some, but they're keeping awfully quiet.

WarrenPrice

« Reply #133 on: July 19, 2013, 13:38 »
0
One thing that helps mitigate that loss is the "promotion" of many exclusive files to S+ (or Vetta). Perhaps iStock calculated that they could take the hit in "demoted file" income (mostly independents) by offsetting it with "promoted file" income (mostly exclusives).

From the complaints I'm hearing from some exclusives (worst week/month since (some long ago year)), I don't hear a lot of happy exclusives. There may be some, but they're keeping awfully quiet.

May be a forced silence.  Shut up or get ejected.   ::)

Reinforces my decision to avoid the forums.   :P


« Reply #134 on: July 19, 2013, 14:26 »
0
" if I have this right? How can this not be a huge revenue hit for them"

They'll make it back next year when everyone drops 2 royalty levels.

This is unfortunately true. It'll be touch and go whether I make my RC target this year, whereas 2 years ago I tripled it.

A royalty cut will be the last straw for me I think - finally spurring me into decisive action.

« Reply #135 on: July 19, 2013, 14:36 »
+6
" if I have this right? How can this not be a huge revenue hit for them"

They'll make it back next year when everyone drops 2 royalty levels.

This is unfortunately true. It'll be touch and go whether I make my RC target this year, whereas 2 years ago I tripled it.

A royalty cut will be the last straw for me I think - finally spurring me into decisive action.

Actually, it is not true at all that they would recover the money they had lost in that way. It doesn't make mathematical sense, and I'm sure Sean knows that. At best, the levels provide a very minor cushion for them against falling exclusive sales. They are taking a very heavy hit on the pricing of the main collection. It's far more than the 50% they are advertising considering that three-quarters of my latest sales were in the Photo+ collection, not in the standard independent collection.

« Reply #136 on: July 19, 2013, 15:01 »
+3
One thing that helps mitigate that loss is the "promotion" of many exclusive files to S+ (or Vetta). Perhaps iStock calculated that they could take the hit in "demoted file" income (mostly independents) by offsetting it with "promoted file" income (mostly exclusives).

From the complaints I'm hearing from some exclusives (worst week/month since (some long ago year)), I don't hear a lot of happy exclusives. There may be some, but they're keeping awfully quiet.

May be a forced silence.  Shut up or get ejected.   ::)

Reinforces my decision to avoid the forums.   :P

I'm not talking about the IS forums - they're dead. There are offsite groups for uncensored chat.

« Reply #137 on: July 19, 2013, 15:32 »
+1
latest from me: DLs up 30% $$ down 32% since the new pricing in June

« Reply #138 on: July 19, 2013, 19:42 »
0
" if I have this right? How can this not be a huge revenue hit for them"

They'll make it back next year when everyone drops 2 royalty levels.

Exactly.

« Reply #139 on: July 19, 2013, 20:06 »
0
latest from me: DLs up 30% $$ down 32% since the new pricing in June
I've had the exact opposite experience. DL's are down 50%, but $ is up 100% so in the end I'm making the same money with 1/2 the DL's. Also, only old files continue to sell. Nothing I've uploaded this year or last year sells much at all. 

« Reply #140 on: July 19, 2013, 20:10 »
0
gave up on istock long ago -- avg $10 or less /month with 800 images in portfolio. their silly and tedious submission process means they'd have to do a lot better in sales before i'd bother to wasyte any more time submitting

PaulieWalnuts

  • We Have Exciting News For You
« Reply #141 on: July 19, 2013, 20:34 »
0
latest from me: DLs up 30% $$ down 32% since the new pricing in June
I've had the exact opposite experience. DL's are down 50%, but $ is up 100% so in the end I'm making the same money with 1/2 the DL's. Also, only old files continue to sell. Nothing I've uploaded this year or last year sells much at all.

My downloads are down 50% starting last month. About the same as early 2008 levels which is when I was just getting started. Money is about the same as the rest of this year so no drop there. Problem is downloads keep dropping and have been for years. If something doesn't change at some point money will start dropping too. Or downloads will keep heading toward zero.

lisafx

« Reply #142 on: July 20, 2013, 12:12 »
0
latest from me: DLs up 30% $$ down 32% since the new pricing in June
I've had the exact opposite experience. DL's are down 50%, but $ is up 100% so in the end I'm making the same money with 1/2 the DL's. Also, only old files continue to sell. Nothing I've uploaded this year or last year sells much at all.

I'm assuming this means you are exclusive? 

Most of the people claiming downloads are up and royalties down are indies.  It's a fairly inevitable result of the price slash on our images. 

Anyone know if upgrading some of our bestsellers to higher price bands is still in the works? 

« Reply #143 on: July 20, 2013, 12:17 »
0
Anyone know if upgrading some of our bestsellers to higher price bands is still in the works?

that is bizarre, you don't have a single file there :o

lisafx

« Reply #144 on: July 20, 2013, 12:41 »
0
Anyone know if upgrading some of our bestsellers to higher price bands is still in the works?

that is bizarre, you don't have a single file there :o

True.  AFAIK no indies do. 

Originally it was talked about putting some indie content into Sig and S+, but no movement there and haven't heard it mentioned in a few weeks. 

« Reply #145 on: July 20, 2013, 12:48 »
0
Anyone know if upgrading some of our bestsellers to higher price bands is still in the works?

that is bizarre, you don't have a single file there :o

True.  AFAIK no indies do. 

Originally it was talked about putting some indie content into Sig and S+, but no movement there and haven't heard it mentioned in a few weeks.

iStock ;D

ShadySue

  • There is a crack in everything
« Reply #146 on: July 20, 2013, 12:58 »
+1
Anyone know if upgrading some of our bestsellers to higher price bands is still in the works?

that is bizarre, you don't have a single file there :o

True.  AFAIK no indies do. 

Originally it was talked about putting some indie content into Sig and S+, but no movement there and haven't heard it mentioned in a few weeks.

Apparently/allegedly they're going to tweak the exclusive files, which if my port is anything to go by has been really bizarrely assigned in many cases, then work on the indies.

lisafx

« Reply #147 on: July 20, 2013, 13:44 »
+1

Apparently/allegedly they're going to tweak the exclusive files, which if my port is anything to go by has been really bizarrely assigned in many cases, then work on the indies.

THanks for the update Liz.  So this is still in the works, theoretically at least :)

« Reply #148 on: July 20, 2013, 14:21 »
+1
I'm selling 40% more than in June, but with a significant drop in profits, of course.

However, I think the images being so cheap, now customers buy larger sizes.

I miss Photo + ...

« Reply #149 on: July 20, 2013, 16:38 »
+3

Apparently/allegedly they're going to tweak the exclusive files, which if my port is anything to go by has been really bizarrely assigned in many cases, then work on the indies.

THanks for the update Liz.  So this is still in the works, theoretically at least :)

Except they said all our files would be for sale forever at rock bottom prices

No doubt Liz's files have been sorted by a computer following its GIGO instructions (or is that acronym 20 years out of date?). That's the problem, they WILL screw up any computer-run sort. At least, that WILL BE the problem if they ever decide to lift anything we have out of the main collection.
Every one of my P+ files was there for a logical reason, I know that if they use a computer to reassign things they will screw up. Guaranteed. They've farqued up one of the few things that really worked well, which is letting suppliers use their knowledge to promote a limited portion of their portfolio.


 

Related Topics

  Subject / Started by Replies Last post
7 Replies
3905 Views
Last post March 07, 2012, 03:36
by Konstantin Sutyagin
11 Replies
4196 Views
Last post January 25, 2013, 11:39
by cascoly
72 Replies
15868 Views
Last post August 22, 2013, 20:09
by lisafx
2 Replies
1858 Views
Last post October 10, 2014, 09:58
by grace
7 Replies
3593 Views
Last post August 21, 2017, 16:24
by niktol

Sponsors

Mega Bundle of 5,900+ Professional Lightroom Presets

Microstock Poll Results

Sponsors

3100 Posing Cards Bundle