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Author Topic: Layoffs at istock  (Read 135938 times)

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« Reply #275 on: January 19, 2012, 13:39 »
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If my images aren't so precious why do they need to hang on to them for 6 months?

In fact it is only one third of your port, uploaded within the last 6 months, that you cannot delete. Just as Istock introduced exclusivity, to defend their position against the emerging competition, the 6 month lock-in was DT's response to that. It also ensures that having gone to the expense of reviewing images it has a reasonable chance of getting a return. Back in the day people were choosing exclusivity and deleting portfolios that had only just been reviewed. Anyway, if you don't like it then don't join DT __ simples.

The decision was also a response to contributors who would submit images for the sole purpose of entering the monthly "On Assignment" contest and then pulling them after the contest ended.  It was frustrating a lot of buyers who wanted to purchase images from an "On Assignment" collection.


« Reply #276 on: January 19, 2012, 13:40 »
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In particular, it suggests to me that decisions about content - what's accepted, where it goes, etc. - are all moving to Getty. If I had to make a guess, I'd say that iStock will become an input portal for Getty Images "crowdsourced" content. Down to Thinkstock/photos.com or up to Getty (Vetta/Agency).

Well being as JJRD was the trainer and organiser-in-chief of the inspection team it does suggest that contributors' content maybe going elsewhere to be reviewed. Interesting.

« Reply #277 on: January 19, 2012, 13:46 »
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September 2010:

Quote
if one day I do not believe in iStockphoto anymore, I will be out of here in a snap. Faster than a speeding bullet.
- JJRD
« Last Edit: January 19, 2012, 13:48 by stockpuppet »

« Reply #278 on: January 19, 2012, 13:47 »
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And the news keeps on getting better and better!
I'm sorry, I really don't feel much for either of them (Kelly or JJ).
I remember, not so long ago, both continuously singing somewhat emotional praises to Getty and Getty employees - how intelligent they are, how wonderful it is to be working with them and what a blessing to be part of such a great company.
They might not feel the same today, but it's too late. The harm has already been done and there's no going back.

Kelly needs to spend more time with his family. Right.
I agree with Jsnover.
Whatever you do, Kelly, cooking classes or ballroom dance, please stay away from any decision making positions at SS or DT. Come to think of it, or any other agency too.
I like them, and my commissions, just as they are.

Meanwhile you go ahead and sink away IStock, sink away ...
From where I stand it's only what you deserve.

« Reply #279 on: January 19, 2012, 13:50 »
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This is my first post on this forum. I have not posted before, but eventually I have read the microstockgroup forums when there have been news in the industry.
Im not a major player, just an amateur that has been around since 2007, mostly on shutterstock.

And now is such a time... For important news.

A major agency is in trouble, and the trouble seems to be deep.
As I see it it started last year when they argued that the canister system was unsustainable and they couldnt afford to pay the future canister levels rises and therefore did all kinds of fancy things to secure the profit.  Raising prises for the customers and lowering commisions for the contributers. Greed that was, and a bad sign.

In my understanding such a statement means that they have been pushing liquidity (or lack thereof) in front of them and have not had the according expansion in sales volume to be able to pay their promises back. Its always dangerous to push obligations in front of you and especially in a shrinking economy. So my guees is that IS financial trouble already began back in 2008- 09, and they were able to pull it till now.

So what?
Im quite certain that the microstock part of their business is dying, but I dont know if they have plans in the mid stock market. They may try to be competitive with a business model for mid stock. They allready have a complex of strange licences and exclusive contributers, that could be trimmed to the mid stock areana. But I see no clear signs of such a strategy. IS more has the appearance of a giant fighting blindly and randomly in the mud, without being able to take the right steps to get out of it.

And so what?
If an agency cannot survive in the microstock market on an 85% share, they are not competent and deserve to die. And I do not mourn their death. But I do appreaciate the lesson the agencies might learn from this: There is a limit to how much you can rape and pillage. And maybe the most important lesson. We contributers actually have a voice. Some of us are both contributers and buyers, and we all have a voice, and we spread the word.  IS forgot that, and they died from their ignorance. bad karma killed them.
I like that, since we cannot make a union or do anything in common, the important lesson here, for the agencies to learn, is, that it all adds up, and in the end karma can change. Like someone said with the bacteria film.
IS deserved it.
Let the other agencies learn.

« Reply #280 on: January 19, 2012, 13:59 »
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Wow, JJRD leaving is big news.. I see him as one of the 'faces' of iStock - at least at the few iStockalypses I have attended and on their forum.

I can imagine other (micro)stock agencies swarming like vultures around the iStock doors in Calgary  ... waiting to snatch up some good employees.

PaulieWalnuts

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« Reply #281 on: January 19, 2012, 14:03 »
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September 2010:

Quote
if one day I do not believe in iStockphoto anymore, I will be out of here in a snap. Faster than a speeding bullet.
- JJRD


Yep, that's the one I was thinking of.

« Reply #282 on: January 19, 2012, 14:16 »
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September 2010:

Quote
if one day I do not believe in iStockphoto anymore, I will be out of here in a snap. Faster than a speeding bullet.
- JJRD


Yep, that's the one I was thinking of.


Doesn't sound like it was a matter of his lack of faith. Sounds like he was asked/forced to leave. Downsizing, layoffs, etc.

« Reply #283 on: January 19, 2012, 14:17 »
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I am enjoying a lot reading this thread, I really hope (or not) that from the 30 employees not many were taking care of the website :D

« Reply #284 on: January 19, 2012, 14:17 »
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I'm a firm believer that iStock will just become one more brand under the Getty main website such as the countless others.  They probably bought iStock with that in mind, dismantle the micro-stock model while at the same time milk it out of existence.  That would bring commissions to 25% or 20% across the board and prices probably will go up a bit or stay elevated.  If this turns out to be bad for the bottom line remains to be seen but it all points to iStock becoming less of an independent entity. ...
Yeah I start seeing it his way as well. Basically what happened to Stockxpert will be the fate of iStock. Of course Getty could not just flick the switch and make iStock disappear, it would be too drastic. To widdle it down the way they did in the past years makes most sense if the goal is to scare all noobs, and middle tier performers away and offer the high profile shooters special Getty contracts while leaving the iStock site there to rot.

« Reply #285 on: January 19, 2012, 14:18 »
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September 2010:

Quote
if one day I do not believe in iStockphoto anymore, I will be out of here in a snap. Faster than a speeding bullet.
- JJRD


Yep, that's the one I was thinking of.


Doesn't sound like it was a matter of his lack of faith. Sounds like he was asked/forced to leave. Downsizing, layoffs, etc.


well could be although he isn't leaving "in a snap.  Faster than a speeding bullet."  From what I recall reading in the IS thread he's going to stick around a few months to help transition.

« Reply #286 on: January 19, 2012, 14:27 »
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Yup. That often happens when roles are made redundant or are split up between other roles or employees. Makes sense as iStock is being further absorbed into Getty, officially.

mlwinphoto

« Reply #287 on: January 19, 2012, 14:34 »
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With iStock being integrated into Getty Images I wonder if independents will be required to go image exclusive with Getty as we do now with our traditional RM and RF content??

« Reply #288 on: January 19, 2012, 14:38 »
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^ That is my biggest concern. I hope the HQ does as Andrew said and Sean suggested
Quote
Posted By sjlocke:

Posted By rogermexico:
Everybody has a lot of questions about the short and long term implications of what's going on this week. People are going to be coming in here to provide more information about what all this means. There is not going to be a vacuum following the above announcement.


Lets hope that happens sooner than later. In a clear, concise manner that treats us like adults and businesspeople.


« Reply #290 on: January 19, 2012, 14:40 »
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With iStock being integrated into Getty Images I wonder if independents will be required to go image exclusive with Getty as we do now with our traditional RM and RF content??

That would be a very quick way of losing 80% of Istock's content. Not a chance of it happening.

« Reply #291 on: January 19, 2012, 14:41 »
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I'll never forget the day when I saw people in the Istock forums cheering that StockXpert was killed.
I wonder who's cheering now.

:) 

« Reply #292 on: January 19, 2012, 14:44 »
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I'll never forget the day when I saw people in the Istock forums cheering that StockXpert was killed.
I wonder who's cheering now.

Well they do say that 'revenge is a dish best served cold'.

« Reply #293 on: January 19, 2012, 14:49 »
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I'll never forget the day when I saw people in the Istock forums cheering that StockXpert was killed.
I wonder who's cheering now.

Yes I remember that as well, not a culture we want spread to other sites.

« Reply #294 on: January 19, 2012, 14:54 »
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Let's all take a deep breath here. I'd say we're in a "the reports of my death are greatly exaggerated" situation.

Yes, there are monumental changes happening in the offices of iStock.  And yes, JJRD's leaving is big news.  But even today, after the news broke, buyers are still buying.  How much will all of this "inside baseball" news affect sales today, tomorrow, next week, next month?  I'm guessing not much.  

We're all assuming the current iStock leadership is incompetent and has no plan to take the business anywhere but down.  Recent missteps even validate this opinion.  But it still remains to be seen.

I am no iStock cheerleader.  I haven't uploaded there in quite some time.  But my sales for the past few weeks have been going up... not just a typical post-holiday rise, but they're back to where they were last Sept or Oct.  To me this means that most buyers are so disconnected to what's happening behind the scenes that the iStock management has a bit of time to coast and implement positive change before the business actually dies.  Will it happen?  Who knows... but it would be naive to write iStock's obituary today.

helix7

« Reply #295 on: January 19, 2012, 14:55 »
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With iStock being integrated into Getty Images I wonder if independents will be required to go image exclusive with Getty as we do now with our traditional RM and RF content??

Let em try it. It would be the last major action of istock.

However what I do see happening is a pay cut for exclusives. As more parts of istock get integrated into Getty, I think more of the Getty folks are going to start asking each other why they're paying such a high percentage to some folks. 20% seems like it would be itough to sell to contributors. But maybe 25% across the board for exclusives. Amazingly I could see a lot of people sticking around for that.

And maybe 15% across the board for independents, just to make the exclusive deal look a little sweeter.

« Reply #296 on: January 19, 2012, 14:56 »
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I'll never forget the day when I saw people in the Istock forums cheering that StockXpert was killed.
I wonder who's cheering now.

I still mourn the loss of StockXpert.   :'( 

« Reply #297 on: January 19, 2012, 14:59 »
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I'll never forget the day when I saw people in the Istock forums cheering that StockXpert was killed.
I wonder who's cheering now.

Well, I'm not cheering, but I am patting myself on the back and saying, "That'll do pig. That'll do".  ;D

« Reply #298 on: January 19, 2012, 15:08 »
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Let's all take a deep breath here. I'd say we're in a "the reports of my death are greatly exaggerated" situation.

Yes, there are monumental changes happening in the offices of iStock.  And yes, JJRD's leaving is big news.  But even today, after the news broke, buyers are still buying.  How much will all of this "inside baseball" news affect sales today, tomorrow, next week, next month?  I'm guessing not much.  

We're all assuming the current iStock leadership is incompetent and has no plan to take the business anywhere but down.  Recent missteps even validate this opinion.  But it still remains to be seen.

I am no iStock cheerleader.  I haven't uploaded there in quite some time.  But my sales for the past few weeks have been going up... not just a typical post-holiday rise, but they're back to where they were last Sept or Oct.  To me this means that most buyers are so disconnected to what's happening behind the scenes that the iStock management has a bit of time to coast and implement positive change before the business actually dies.  Will it happen?  Who knows... but it would be naive to write iStock's obituary today.

No, sorry, but this really is the beginning of the end of Istock as a major player n microstock. Even Getty doesn't really believe in them anymore. Istock are being squeezed of staff and it follows that they are likely to be squeezed of future investment too. Therefore they will not be able to compete in the longer term. As sales dwindle more exclusives will give up their crowns and eventually fresh content will dry up too. They'll still be around but not as we once knew them.

« Reply #299 on: January 19, 2012, 15:25 »
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No, sorry, but this really is the beginning of the end of Istock as a major player n microstock.


Right, this is my point.  It might be the beginning of the end, but iStock isn't dead as many are proclaiming.

I'm pointing out that there are thousands of people around the world right now making purchases on the site and oblivious to what's happening behind the scenes.   And it's even possible that iStock could introduce some changes that make these buyers want to stick around for the foreseeable future.

Frankly I'd be thrilled if all those buyers immediately gave up on IS and went to SS, DT and FT.  But unless the iStock management truly wants to throw money away, they have a plan for keeping those buyers in some capacity. 


 

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