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Author Topic: New Vetta pricing and royalty rates in effect today  (Read 26182 times)

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SNP

  • Canadian Photographer
« Reply #25 on: September 27, 2010, 20:56 »
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that is true, however from a number of posts here today, you'd think Vetta was filling the slots in every search. so I'm just posting my observations. I've literally done not much else today except performing searches when I am not processing images.


« Reply #26 on: September 27, 2010, 21:15 »
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How do you ignore someone?  I can't seem to find it, probably super obvious I know.   oops found it!

Jen's post and finding of the original announcement speaks volumes to me.  One more call out that will go unanswered to I'm sure.  I think it's been mentioned many times over by the same folks pointing out the Vetta saturation problem that this occurs in certain specific searches.  I have not seen anyone claim that it's the case for every search.  Also some great examples have been provided that undeniably showcase a bias toward Vetta.  

As for my 30 Vetta files, because they are vector (another area where photographers were given one deal and vector artists another, with a promise of "we'll announce changes coming soon for vectors!" which never happened,) there is no current price change and in 12 days when my exclusivity is up it won't matter anyway.  

SNP

  • Canadian Photographer
« Reply #27 on: September 27, 2010, 21:23 »
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of course there's a bias towards Vetta. that isn't new, nor is it the point. you know what, you guys have your little club for the disgruntled over here. enjoy throwing sand in each others' faces and peeing in the pool.

TheSmilingAssassin

    This user is banned.
« Reply #28 on: September 27, 2010, 22:16 »
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You think buyers are going to tolerate this much longer?  How long do you think it will be before they figure out that istocks isnt what its cracked up to be?  Its insulting to buyers and it wont be long before they finally say screw you and move elsewhere.
I mean look at this example of two images that are almost identical from the same shoot that come up on the same page for a search for family.  One is vetta and one is not.

http://www.istockphoto.com/stock-photo-8092663-young-family.php
http://www.istockphoto.com/stock-photo-11923130-family.php

Both of these images are nice, one is worth 15 credits and the vetta is worth 70.  Buyers aren't stupid.  They will eventually go to an agent such as DT and search for family and find a large image thats just as nice for 15 credits max (for a level 5 image).  If they choose a newer image with less downloads theyll get it for even less.

Sorry but I cant help but laugh at all of this.  Its not funny really, not to the buyer, not to the contributor and certainly not to istock, but I cant help laughing at istock.  Watching them make one misake after another and then desperately trying to dig themselves out of a hole is amusing to me.  Ive never seen such a huge display of unprofessionalism in my entire life.   Im not surprised at all that istock didnt wait till January to bump up the Vetta prices.  It shouldnt surprise anyone else either.  For them to break their promise now, while theyre already labelled greedy *insult removed* and without communicating the rise to anyone means one thing and one thing only...  they cannot meet their high targets.  

Istock have put themselves in a rut that they cannot get out of.  I said it months ago and Ill keep saying it... theyre going down the pan!  You have upper management who dont want to lose their jobs by missing their targets so theyre doing whatever they can to raise revenue to increase their profits... but by doing so they will no longer be competitive and will fall on their ass anyway.  

The balls been rolled and its picking up speed... theyre not coming out of it this time.
« Last Edit: September 27, 2010, 22:24 by pseudonymous »

« Reply #29 on: September 27, 2010, 22:20 »
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that is true, however from a number of posts here today, you'd think Vetta was filling the slots in every search. so I'm just posting my observations. I've literally done not much else today except performing searches when I am not processing images.

I suspect you're probably right that it's not that dramatic of a saturation as some may suggest.  what will be interesting is when the Agency collection starts filling in as well, then there will be an additional collection, along with Vetta, getting some bump in the best match and causing others to shift.  Of course, buyers can always sort by other methods.  Best Match is not the be-all-end-all of searches.  When I'm buying I sort by 'age', 'downloads' and 'best match' - all three of those pretty much exclusively when I'm trying to find an image.

TheSmilingAssassin

    This user is banned.
« Reply #30 on: September 27, 2010, 22:21 »
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of course there's a bias towards Vetta. that isn't new, nor is it the point. you know what, you guys have your little club for the disgruntled over here. enjoy throwing sand in each others' faces and peeing in the pool.

It's not a little club, it's just that the balance of power and logic is shifting.  Prior to all of this you had a bunch of arrogant istock exclusives who were so loyal to istock that no matter what they did, who they effected, this group would defend their decisions... and their opinions domanited this forum.  istock always got by because of this loyalty but their contributors, even a lot of the exclusives have seen them for what they really are.  You and a few others are just slow waking up, that's all.

« Reply #31 on: September 27, 2010, 22:31 »
0
You think buyers are going to tolerate this much longer?  How long do you think it will be before they figure out that istocks isnt what its cracked up to be?  Its insulting to buyers and it wont be long before they finally say screw you and move elsewhere.
I mean look at this example of two images that are almost identical from the same shoot that come up on the same page for a search for family.  One is vetta and one is not.

http://www.istockphoto.com/stock-photo-8092663-young-family.php
http://www.istockphoto.com/stock-photo-11923130-family.php

Both of these images are nice, one is worth 15 credits and the vetta is worth 70.  Buyers aren't stupid.  


This gets back to the policy on series that was one of my initial beefs with the Vetta selection process - if you hadn't told me which is which I don't think I'd have been able to say which was Vetta. Both great stock as you say, but no obvious difference between them.

The higher the price difference between them, the more problems this causes, IMO - i.e. this just got twice as bad today when Vetta prices doubled.

Interesting thought about the price increases now being about trying to make their 2010 targets before the end of the year - plausible explanation for what otherwise seems like insanity.

pdx

« Reply #32 on: September 28, 2010, 00:17 »
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I have done a bazillion searches throughout the day because the posts today have made it sound like the best match returns are Vetta saturated...not so at all. all I can say is thank goodness the 'statisticians' here are not scientists. every search I've returned using random keywords, including big ones like 'business', 'family' and so many others I can't remember them all. the returns are a balanced mix of Vettas, flames, newer uploads and files that seem to be newer well-selling files etc.

Apparently, your "bazillion" searches missed the following:

love
new york
wildlife
berlin
train
airplane
luxury
beauty
portrait
autumn
vacation
christmas
architecture
food
cooking
drink
spring
summer
winter

Let me know if you need more examples. This was a mere 10 minute effort with 100 results per page, filtered for photos only. In the case of "business" and "family", I suspect these aren't as saturated with Vetta files due to the large number of high-flaming regular images in those categories.

Taking "new york" as an example: there are about 25,000 photos in database, only 470 of which are Vetta. Yet there are 80 Vetta images on page 1.

SNP

  • Canadian Photographer
« Reply #33 on: September 28, 2010, 00:31 »
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if we're both going to cherry pick examples, we'll be here all night. both our examples are heavily used keywords, that are most often then drilled into including other search phrases...I chose 'business' and 'family' because I believe they are still within the top 5 MOST searched terms. you completely dismissed my example and provided a number of other precisely similar types of search terms.

using your logic, buyers will see the first returns and stop searching. your insinuation is that greedy Getty doesn't care which files line their pockets as long as their pockets stay nicely padded. that's bunk, simplistic and short-sighted bunk. using this logic, our sales would have all nose-dived with the introduction of Vetta files in the best match. instead both Vetta and regular sales have continued to occur. in fact my sales have increased since the introduction of Vetta, and I only have a handful of Vettas.

SNP

  • Canadian Photographer
« Reply #34 on: September 28, 2010, 00:36 »
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picking cherries, search on:

dog
woman
car
environment
communication
computer network
computer

all as per usual search returns....
« Last Edit: September 28, 2010, 00:40 by & then... »

« Reply #35 on: September 28, 2010, 01:19 »
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Another iStock c*ck-up...What is this craziness with vectors now losing their Vetta icons while the pricing stays the same. Way to confuse the buyers even more.

This is certainly one of the more amazing corporate train wrecks to watch.

pdx

« Reply #36 on: September 28, 2010, 01:44 »
0
picking cherries, search on:

dog
woman
car
environment
communication
computer network
computer

all as per usual search returns....

All you really need to do is check the individual portfolios of some of the top exclusives sorted by best match to get an idea how heavily Vettas are weighed. How do you think all their Vettas end up on top?

« Reply #37 on: September 28, 2010, 01:56 »
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I don't know why so many people have to make a new account to say what they really think...  Are they afraid that someone will punish them because they say something bad about Istock or what??
So many new members and "new members" here.

« Reply #38 on: September 28, 2010, 02:04 »
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^^^ I think many new people are coming as result of the IS stuff.

pdx

« Reply #39 on: September 28, 2010, 02:12 »
0
So many new members and "new members" here.

Sorry for signing up here.

« Reply #40 on: September 28, 2010, 02:17 »
0
And another new member

pdx

« Reply #41 on: September 28, 2010, 02:20 »
0
And another new member

how dare you  :)

« Reply #42 on: September 28, 2010, 02:22 »
0
^^^ I think many new people are coming as result of the IS stuff.

I hope so. Although, I could swear I recognize some people behind their new nick names.

« Reply #43 on: September 28, 2010, 02:22 »
0
I have nothing against real new members tho..

« Reply #44 on: September 28, 2010, 02:37 »
0

« Reply #45 on: September 28, 2010, 04:42 »
0

picking cherries, search on:

dog
woman
car
environment
communication
computer network
computer

all as per usual search returns....

edited sorry I read incorrectly
« Last Edit: September 28, 2010, 04:44 by qwerty »

« Reply #46 on: September 28, 2010, 05:38 »
0
Sorry but I cant help but laugh at all of this.  Its not funny really, not to the buyer, not to the contributor and certainly not to istock, but I cant help laughing at istock.  Watching them make one misake after another and then desperately trying to dig themselves out of a hole is amusing to me.  Ive never seen such a huge display of unprofessionalism in my entire life.   Im not surprised at all that istock didnt wait till January to bump up the Vetta prices.  It shouldnt surprise anyone else either.  For them to break their promise now, while theyre already labelled greedy *insult removed* and without communicating the rise to anyone means one thing and one thing only...  they cannot meet their high targets.  

Istock have put themselves in a rut that they cannot get out of.  I said it months ago and Ill keep saying it... theyre going down the pan!  You have upper management who dont want to lose their jobs by missing their targets so theyre doing whatever they can to raise revenue to increase their profits... but by doing so they will no longer be competitive and will fall on their ass anyway.  

The balls been rolled and its picking up speed... theyre not coming out of it this time.

The Vetta price increase now, when they're actually on record saying that they wouldn't, does smack of desperation or panic. Why couldn't Istockphoto have waited until January and slipped this one in amongst all the other price 'adjustments' that they'll no doubt be implementing? That's only 3 months from now. Makes me wonder what is coming later if they are prepared to do this. It would seem that Getty are determined to milk this cash cow dry in the shortest possible time. The time horizon that they are working to cannot be too far away.

« Reply #47 on: September 28, 2010, 06:04 »
0
of course there's a bias towards Vetta. that isn't new, nor is it the point. you know what, you guys have your little club for the disgruntled over here. enjoy throwing sand in each others' faces and peeing in the pool.

It's not a little club, it's just that the balance of power and logic is shifting.  Prior to all of this you had a bunch of arrogant istock exclusives who were so loyal to istock that no matter what they did, who they effected, this group would defend their decisions... and their opinions domanited this forum.  istock always got by because of this loyalty but their contributors, even a lot of the exclusives have seen them for what they really are.  You and a few others are just slow waking up, that's all.

Arrogant? ... that's clearly subjective, probably more in your mind than in reality. Loyal? Yes, why not, but nor without reason. Until Photos.com and TS, all what did istock was good for contributors, exclusive or not, and for the business... particularly rescuing the infra microstock prices and making them more logical and fair. And, even now, they have the fairest suscription system everywhere.
Yes, things have changed (not much for me, to be true), but I will concede a 100 days proof period from January to see how the new situation works.
I've read and this forum that some exlusives "feel trapped". And maybe it's true, but not for the reasons stated. If I feel trapped is just because there's nowhere to go without having to swallow the miser 30-35 cents-every- size subscriptions. That makes any alternative less atractive.
« Last Edit: September 28, 2010, 06:06 by loop »

TheSmilingAssassin

    This user is banned.
« Reply #48 on: September 28, 2010, 06:15 »
0
Sorry but I cant help but laugh at all of this.  Its not funny really, not to the buyer, not to the contributor and certainly not to istock, but I cant help laughing at istock.  Watching them make one misake after another and then desperately trying to dig themselves out of a hole is amusing to me.  Ive never seen such a huge display of unprofessionalism in my entire life.   Im not surprised at all that istock didnt wait till January to bump up the Vetta prices.  It shouldnt surprise anyone else either.  For them to break their promise now, while theyre already labelled greedy *insult removed* and without communicating the rise to anyone means one thing and one thing only...  they cannot meet their high targets.  

Istock have put themselves in a rut that they cannot get out of.  I said it months ago and Ill keep saying it... theyre going down the pan!  You have upper management who dont want to lose their jobs by missing their targets so theyre doing whatever they can to raise revenue to increase their profits... but by doing so they will no longer be competitive and will fall on their ass anyway.  

The balls been rolled and its picking up speed... theyre not coming out of it this time.

The Vetta price increase now, when they're actually on record saying that they wouldn't, does smack of desperation or panic. Why couldn't Istockphoto have waited until January and slipped this one in amongst all the other price 'adjustments' that they'll no doubt be implementing? That's only 3 months from now. Makes me wonder what is coming later if they are prepared to do this. It would seem that Getty are determined to milk this cash cow dry in the shortest possible time. The time horizon that they are working to cannot be too far away.

As I mentioned above, they didn't wait because they're probably not going to hit their targets... I meant their year end targets.  As I've said in a few threads, with all the changes and projects they've had on lately, they've probably blown their budgets and now they're probably getting pressure from the top to do whatever it takes to get back on plan or as close to it as possible. 

« Reply #49 on: September 28, 2010, 06:25 »
0
As I mentioned above, they didn't wait because they're probably not going to hit their targets... I meant their year end targets.   

I agree with you but, in the greater scheme of things, this probably isn't going to make that much difference to the bottom-line. I suppose it will have a magnifying effect on the % profitability though.


 

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