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Author Topic: Layoffs at istock  (Read 135957 times)

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« Reply #325 on: January 19, 2012, 16:55 »
0
... but I think we're about to see iStock get swallowed up by the Getty machine. the question is whether to go with the flow or walk the plank and hope the sharks are friendly

I think there are negative ramifications of trouble at iStock for all of us who sell there - independents for whom it is one of the top earners (even if smaller than it was), and exclusives for whom the Getty-run business may be as shark infested as independent waters seem to be. I think it will mean lower royalty percentages, fewer choices over where your content goes (I think the opt out for the partner program will very soon be gone, for example).

I think that a flood of new content from departing exclusives may dilute earnings for independents at other sites, although that might improve as more buyers migrate to find the content.

That curse - may you live in interesting times - comes to mind.


ShadySue

  • There is a crack in everything
« Reply #326 on: January 19, 2012, 16:56 »
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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.


I agree. He said he would be OUT OF HERE in a snap. In his goodbye post, he said he would be remaining as an iStock exclusive.

« Reply #327 on: January 19, 2012, 17:00 »
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I think it will become just another collection on Getty's main site, just like the other collections they absorbed. They will get rid of the iStock website. Why continue to maintain it and incur the cost when they already have one umbrella site.

Three different customer payment mechanisms?

lagereek

« Reply #328 on: January 19, 2012, 17:11 »
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^^ Agreeing!  and for some weird, uncanny almost grotesque reasons, one gets the feeling, Its been destroyed on purpose and for what?

Perhaps because direct control of it had slipped out of the hands of people who believed in it and into the hands of people who, deep down inside, still feel that a bunch of amateurs with their digicams are destroying stock photography and wish they would go away. I'm sure that the Gettyimages bosses will have talked up their "market leading experience" to the new owners who probably neither know not understand the stock image market and the tensions inside it.

Yes, could very well be that way. Although they would have to be total lunatics, thinking it would go back to the traditional way of stock agencies and Im not too sure todays Getty bosses are on the ball, theyre not of the same breed as the previous ones. No clout, no style.

« Reply #329 on: January 19, 2012, 17:14 »
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I know I'm in the minority, but I think iStock is actually doing well sales-wise. However, Getty is used to paying out a lower commission % and it's killing them that iStock is higher. They see getting that number down as a natural way to increase profits, and they will continue their march to lower the % paid out.

I agree. Sales wise I am selling more and getting more money under the new RC system although I had to live with reduced commission % for a while.

Since I was a new kid in the block, I didn't know any of the senior people personally. I am sorry that they had to leave to pursue "new interests", layoff is not pleasant for anyone. As to iStock's future, let's wait and see.

« Reply #330 on: January 19, 2012, 17:20 »
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first and foremost, my biggest hope is that the friends and acquaintances i've made here and elsewhere who make either their entire income or a large portion of it as an istock exclusive do not see their lives turned up-side down.  no petty victories are worth that.  whether it means a smooth transition to indy, or an istock rebound, or whatever else, that is my hope.

that being said, i do have a secret, selfish outcome that i see helping me most.  that would be if istock turns into a getty portal, like many have said so far, where photos go either up to vetta or down to thinkstock.  such a situation may result in the "up to vetta" venue requiring image exclusivity, but not agency exclusivity.  that would help me, and I would submit a lot through that.  my biggest loss when rescinding istock exclusivity was many of my photos being taken off vetta... they sold quite well there.  if i can stay an indy, but upload to "istock->getty->vetta" first if i promise image exclusivity if accepted, i think that would help me a lot.

« Reply #331 on: January 19, 2012, 17:35 »
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that being said, i do have a secret, selfish outcome that i see helping me most.  that would be if istock turns into a getty portal, like many have said so far, where photos go either up to vetta or down to thinkstock.  such a situation may result in the "up to vetta" venue requiring image exclusivity, but not agency exclusivity.  that would help me, and I would submit a lot through that.  my biggest loss when rescinding istock exclusivity was many of my photos being taken off vetta... they sold quite well there.  if i can stay an indy, but upload to "istock->getty->vetta" first if i promise image exclusivity if accepted, i think that would help me a lot.

Yes, but I'd hate to see what I think is a Vetta image rejected and sent to Thinkstock!
In many ways I'd like to see the end of photographer exclusivity, and a fair rate paid to everyone. I'd like the opportunity to put some things elsewhere as RF. I have been thinking of giving up the crown so that I can do just that, but so far no one has convinced me that I'd be financially better off as an independent.
To those who have been laid off, well, that's happened to me twice, both times have led on to new adventures and turned out to be for the best. I hope the same happens for all of you!

« Reply #332 on: January 19, 2012, 17:43 »
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that being said, i do have a secret, selfish outcome that i see helping me most.  that would be if istock turns into a getty portal, like many have said so far, where photos go either up to vetta or down to thinkstock.  such a situation may result in the "up to vetta" venue requiring image exclusivity, but not agency exclusivity.  that would help me, and I would submit a lot through that.  my biggest loss when rescinding istock exclusivity was many of my photos being taken off vetta... they sold quite well there.  if i can stay an indy, but upload to "istock->getty->vetta" first if i promise image exclusivity if accepted, i think that would help me a lot.

Yes, but I'd hate to see what I think is a Vetta image rejected and sent to Thinkstock!
In many ways I'd like to see the end of photographer exclusivity, and a fair rate paid to everyone. I'd like the opportunity to put some things elsewhere as RF. I have been thinking of giving up the crown so that I can do just that, but so far no one has convinced me that I'd be financially better off as an independent.
To those who have been laid off, well, that's happened to me twice, both times have led on to new adventures and turned out to be for the best. I hope the same happens for all of you!

your fear implies a situation where i promise image exclusivity no matter the outcome, even if it goes to thinkstock.  i would never submit, if that were the situation.  if i need to promise image exclusivity only for the vetta outcome, but not the thinkstock outcome, i would submit in droves

lisafx

« Reply #333 on: January 19, 2012, 18:09 »
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As a former Getty-iStock employee who was also let go in July (after doing GREAT work there), I can only say there is a much better door open for these people. I'm now at Shutterstock, and we're hiring like crazy. So we'd love to hear from talented people who have much to contribute in this industry. All my best to the 30 iStock people at this time of transition. I know from personal experience that it can be scary for you (and those close to you) right now, but it may get a lot better as it did for me.

Congratulations Kelley.  Very nice to hear that there are doors open to talented hard working people who were clearly undervalued by Getty :) 

« Reply #334 on: January 19, 2012, 18:15 »
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Is that Kelley Thompson at ShutterStock?

lisafx

« Reply #335 on: January 19, 2012, 18:32 »
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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.

Sadly, I have to agree with this assessment.  Except that I would say this is the middle of the end.  The beginning was Sept 2010 IMO. 

« Reply #336 on: January 19, 2012, 18:38 »
0
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.


I agree. He said he would be OUT OF HERE in a snap. In his goodbye post, he said he would be remaining as an iStock exclusive.


Great catch! That settles it then (:

« Reply #337 on: January 19, 2012, 18:43 »
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I think istock will be around this year, as they streamline what images go to Getty and what goes to stinkstock, but then BOOM!, one day an announcement will come and istock will be gone. You will be directed to either Getty or thinkstock directly. The "artist formerly known as istockphoto" will cease to exist.

I think it will become just another collection on Getty's main site, just like the other collections they absorbed. They will get rid of the iStock website. Why continue to maintain it and incur the cost when they already have one umbrella site.

That'd be my bet, as well.

lisafx

« Reply #338 on: January 19, 2012, 18:45 »
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Is that Kelley Thompson at ShutterStock?

Nope.  Kelly Thompson doesn't spell his name with two e's.  

« Reply #339 on: January 19, 2012, 18:48 »
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Is that Kelley Thompson at ShutterStock?

Kelley (vs. Kelly) has hg for last name and says they were let go in July, so I think it isn't KKT.

« Reply #340 on: January 19, 2012, 18:54 »
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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.

Sadly, I have to agree with this assessment.  Except that I would say this is the middle of the end.  The beginning was Sept 2010 IMO. 

that's exactly what I was about to say!  So I guess I'll just +1 your post!  :)

lisafx

« Reply #341 on: January 19, 2012, 19:02 »
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Sadly, I have to agree with this assessment.  Except that I would say this is the middle of the end.  The beginning was Sept 2010 IMO. 

that's exactly what I was about to say!  So I guess I'll just +1 your post!  :)

Great disillusioned minds think alike, I guess... ;)

« Reply #342 on: January 19, 2012, 19:03 »
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+2

ShadySue

  • There is a crack in everything
« Reply #343 on: January 19, 2012, 19:04 »
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+3  :(  >:(

« Reply #344 on: January 19, 2012, 19:27 »
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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.
Got to agree, I couldn't care less that they're gone - one's nothing more than a spin doctor who speaks in riddles, the other a fool who was best kept out of the forums lest he put his foot in it again.  Good riddance.

« Reply #345 on: January 19, 2012, 20:12 »
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Not a good week for news at iStock. I wonder if we will hear anymore from Getty/iStock regarding the changes this week or if we will have to wait till next week.

In the meantime their website is down again. I imagine we'll be seeing a lot more bugs as they make iStock and Getty one of the same.

« Reply #346 on: January 19, 2012, 20:16 »
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Not a good week for news at iStock. I wonder if we will hear anymore from Getty/iStock regarding the changes this week or if we will have to wait till next week.

In the meantime their website is down again. I imagine we'll be seeing a lot more bugs as they make iStock and Getty one of the same.
Andrew did mention some info and Lobo hinted it MIGHT be tomorrow

« Reply #347 on: January 19, 2012, 20:19 »
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In the meantime their website is down again. I imagine we'll be seeing a lot more bugs as they make iStock and Getty one of the same.
Yeah, they likely shut it down to roll out the newest commission cuts. 

« Reply #348 on: January 19, 2012, 21:21 »
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Sadly, I have to agree with this assessment.  Except that I would say this is the middle of the end.  The beginning was Sept 2010 IMO. 

that's exactly what I was about to say!  So I guess I'll just +1 your post!  :)

Great disillusioned minds think alike, I guess... ;)

+4

« Reply #349 on: January 19, 2012, 21:23 »
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They must have let some more tech guys go cause I just got this for a log in;


"The glitch monsters are at work down in the dark internety room, but they sent a note up that said: Dear You, Me fix broken thing. Sorry for trouble. Love, Monsters.

They, and the site, will be back up soon. In the meantime, wed like to offer you 10% off your next purchase of 50 or more iStock credits using the coupon code below."


 

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