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Author Topic: Predictions about iStockphoto!?  (Read 18483 times)

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« Reply #25 on: September 12, 2010, 09:48 »
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I think istock will do remarkably well out of its new direction. The NUMBER of contributors and buyers leaving is not a very useful measure. All members are equal but some are more equal than others. As long as their most prolific contributors and biggest buyers are happy, especially if they get more prolific contributors (Getty pros) and bigger buyers (agencies who want only macro quality) they won't care. And they'll still be offering micro, whether it be branded as istock or Thinkstock doesn't really matter much. Many independents will stay - how much is a sub sale on SS worth?

For me, a lot more than ThinkStock. If my port moves to TS, I will not be staying.


lisafx

« Reply #26 on: September 12, 2010, 10:42 »
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I think Istock will decline from here on. Come january 1., many smaller and midsized independents will leave together with smaller exclusives,  because the paydrops and the trouble uploading to IS, it's no longer worth while.

As they go, they remove linkes to IS, refer clients to oter sites, and stop buying at IS. Many of the smaller contrinuters to IS, are often also big buyers - IS forget to include this in their calculations.

As the word spreds further, traffic will decline further. Those who leave take with them some (not all) unique content, so buyers will have trouble finding what they want at IS.

And so on, and so on, and so on. IS has startet a negative ongoing downwards spiral.

Well said, Nordlys.  I think you are absolutely right. 

The only thing I would take issue with is what I have read over and over in the IS forums, that this action is the "beginning of the end".  No, that was when Getty bought Istock, or perhaps when H&F bought Getty, or when they began to relentlessly jack up prices in a worldwide economic depression, and almost certainly when Getty created Thinkstock and started herding IS buyers there.  This is not the beginning of the end at all.  This is just another BIG step down an already established path of self-destruction.

« Reply #27 on: September 12, 2010, 10:51 »
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The only thing I would take issue with is what I have read over and over in the IS forums, that this action is the "beginning of the end".  No, that was when Getty bought Istock, or perhaps when H&F bought Getty, or when they began to relentlessly jack up prices in a worldwide economic depression, and almost certainly when Getty created Thinkstock and started herding IS buyers there.  This is not the beginning of the end at all.  This is just another BIG step down an already established path of self-destruction.

I agree, Lisa.  Getty has a well deserved reputation for strong-arming both artists and clients.  This is just the latest in a series of actions to squeeze every last dime.  My only hope is that they succeed in destroying themselves without taking too many others with them.

« Reply #28 on: September 12, 2010, 10:56 »
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I'd guess at most 10% of contributors will leave, the new thread already has a lot

I wonder about this because the majority of contributors are small contributors. They have a lot less to lose by pulling out, and most of them were insulted the most with a 25% cut in their earnings. A mass exodus of small contributors could really deal a major blow.

« Reply #29 on: September 12, 2010, 11:09 »
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While many people are getting the shaft, my guess is iStock will do just fine. They are wedding out people and slowing down the the number of people that will apply. I for one will be happy to see iStock become a true midstock company. Now don't shoot me, I feel the bottom for non-exclusives should be 20%. I predict very few Exclusive artist leaving and a few non-exclusives will leave and I can't blame them or anyone else for that choice. Now if iStock takes this money and opens huge markets in Asia and India then we will be much stronger for the future. You need to do what is best for you business wise and leave your feelings at the door. It might be wise to remove your account but I really think you will only hurt yourselves. Just leave it there and focus your attention on other agencies. You can check iStock once a year and get some money. I have made good friends all over the stock world but am aware it is every man-woman for themselves. I hate it for so many good hard working people but I can't control it. If there is anyway I can help others please let me know.

« Reply #30 on: September 12, 2010, 11:13 »
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I think things might slow down a little but IS will remain a big player for years to come.

« Reply #31 on: September 12, 2010, 11:16 »
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I wonder about this because the majority of contributors are small contributors. They have a lot less to lose by pulling out, and most of them were insulted the most with a 25% cut in their earnings. A mass exodus of small contributors could really deal a major blow.

I hope you are right but I'm guessing that they hit the smaller contributors the hardest simply because they matter the least and wouldn't be particularly missed. Such contributors generally have low sales because they have small portfolios and/or relatively uncommercial images.

« Reply #32 on: September 12, 2010, 11:21 »
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While many people are getting the shaft, my guess is iStock will do just fine. They are wedding out people and slowing down the the number of people that will apply. I for one will be happy to see iStock become a true midstock company. Now don't shoot me, I feel the bottom for non-exclusives should be 20%. I predict very few Exclusive artist leaving and a few non-exclusives will leave and I can't blame them or anyone else for that choice. Now if iStock takes this money and opens huge markets in Asia and India then we will be much stronger for the future. You need to do what is best for you business wise and leave your feelings at the door. It might be wise to remove your account but I really think you will only hurt yourselves. Just leave it there and focus your attention on other agencies. You can check iStock once a year and get some money. I have made good friends all over the stock world but am aware it is every man-woman for themselves. I hate it for so many good hard working people but I can't control it. If there is anyway I can help others please let me know.

I disagree. I of course am thinking of my bottom line, but for me, sometimes it is not always about money, especially when we will be talking about so little, once the changes at IS take place. This has a lot more, for me, to do with not wanting to do business with deceitful, greedy people and when the time is right for me and I choose, I will not want to contribute one single penny to their bottom line. Everyone does what they need to, but I value my self-worth. I am not an abused wife, willing to stay around, take another hit, and say "they didn't really mean it."
« Last Edit: September 12, 2010, 11:22 by cclapper »

« Reply #33 on: September 12, 2010, 11:35 »
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I disagree. I of course am thinking of my bottom line, but for me, sometimes it is not always about money, especially when we will be talking about so little, once the changes at IS take place. This has a lot more, for me, to do with not wanting to do business with deceitful, greedy people and when the time is right for me and I choose, I will not want to contribute one single penny to their bottom line. Everyone does what they need to, but I value my self-worth. I am not an abused wife, willing to stay around, take another hit, and say "they didn't really mean it."

I'm right with you.  It's often (generally?) a bad idea to act based on emotion, but sometimes that emotion has a rational basis that shouldn't be ignored.  Just because I hate and fear a bully doesn't make their bullying acceptable.  I prefer to do business with partners, those who treat me with at least a little respect.  Haven't felt that way about iStock in a very long time.

« Reply #34 on: September 12, 2010, 11:58 »
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For me, it's more fundamental than respect, even. I JUST CAN'T TRUST THEM TO NOT SHAFT ME MORE IN THE FUTURE.

From what we've seen, any other changes that IS/Getty may make in the future won't be good for me!

No more uploads and come Jan 1st...

alias

« Reply #35 on: September 12, 2010, 12:26 »
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We predict weeks of speculation and rumors of rumors about various companies potentially being for sale. But a rumor of a rumor is link bait.

« Reply #36 on: September 12, 2010, 13:11 »
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Hi
I have been enjoying this forum for a while now without participating, but the recent news from istock made me so angry I just couldnt keep quite any longer.
(not to mention the fact that my attempts to vent to my friends and family got nothing but yawns and sympathetic nods...)
I did not read all of the posts in the many threads about this issue so forgive me if I am repeating what was said before.
I think Getty wants to destroy the microstock market as a reasonable quality choice for buyers. they want things to go back to what they were 10 years ago, that is that if you want a decent photo you simply cannot get it for a few dollars.
(of course they cannot really go back to that state exactly, so they invented the midstock category)
The recent changes (assuming other agencies will follow the lead) will make a lot of mid level photographers reconsider the whole thing. Those who are exceptionally good will join the agency and vetta collections and continue to work in the field, while most of the rest will have to go back to being non earning amateurs.
In short a buyer will have to choose between low quality stuff on sub sites like thinkstock, and professional stuff in the midstock market. the option of buying good photos for a low price will practically be nonexistent.
I am not saying this plan will necessarily work for getty, as a lot of people had mentioned they are'nt  exactly  a model of good management, but I really think that this is the general motivation behind the latest changes.

« Reply #37 on: September 12, 2010, 13:13 »
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I think IS has peaked, or are very close to do so (jan1.?). Peaked in amount of renevue, peaked in numbers of contributers, and peaked in numbers of photographs. (except bringing getty material), and peaked in number of buyers.

If i'm right about that, then the downwards spiral has indeed started.

Remember for each picture pulled they loose profit. They not only has to bring in one new picture = equal, but two to make growth.

I pulled 100 pictures. My yearly income on those was about 200$ -> IS made 800 $. (fairly medicore folio)

But if 100 photographers pull the same amount is 80.000 dollars - a good salery for a year.

To keep equal - bring in 80.000 - to grow bring in more.  So many samller contributers rapedly sum up.
And remember  - these missing money will show directly on the bottom line, as all the expences was payed long ago.

So - if many pictures are pulles, they really have to bring in a lot more than the useual amount of new material, just to stay even, and yet more to grow.

It gonna be hard, but perhaps the getty material can make up for it?

« Reply #38 on: September 12, 2010, 13:27 »
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They're going the way of Microsoft - they'll still be big, but all the new action and 'buzz' will increasingly be elsewhere from now on.  New agencies, with new approaches, will steadily eat into their business.  The best people will leave.   And what will be left will be corporate marketing flacks and cookbook managers, working an increasingly tired formula until someone at the top decides it's time to pack it up.

It's a classic example of how big corporations try to 'grow' by acquisitions: they find something that's working really well, they buy it, then they set about pumping it up, streaming out hype, and jerking things around until it doesn't work anymore.

Microbius

« Reply #39 on: September 12, 2010, 13:38 »
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They're going the way of Microsoft - they'll still be big, but all the new action and 'buzz' will increasingly be elsewhere from now on.  New agencies, with new approaches, will steadily eat into their business.  The best people will leave.   And what will be left will be corporate marketing flacks and cookbook managers, working an increasingly tired formula until someone at the top decides it's time to pack it up.

It's a classic example of how big corporations try to 'grow' by acquisitions: they find something that's working really well, they buy it, then they set about pumping it up, streaming out hype, and jerking things around until it doesn't work anymore.

Another difference being that MS is raking in the money while everything that Getty touches turns to sh*t.
I don't think they'll be able to help turning IStock from a cash cow to a dead horse, just like the rest of their businesses.

vlad_the_imp

« Reply #40 on: September 12, 2010, 14:11 »
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Quote
But if 100 photographers pull the same amount is 80.000 dollars - a good salery for a year.

To put that into perspective, IS currently pays out $1.7 million dollars a week in commission alone. Although I respect your desire for change $80k  is a drop in a very big ocean.

« Reply #41 on: September 12, 2010, 14:19 »
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For me, a lot more than ThinkStock. If my port moves to TS, I will not be staying.

Same here. In anticipation of the inevitable "improvements" coming down from the big G I have already deactivated about 1/3 of my port (less work in the future). You can bet G aren't giving up on what they see as the potential of Stinkstock, but they are in desperate need of better quality stuff there---they can't hold a candle to Shutterstock's quality by anyone's measure. So where will that bump in quality come from?  Duh.
The very second they announce forced migration or sharing of IS files on TS, I'm gone completely.

ETA: "Stinkstock" refers to Thinkstock (as if you didn't know...)
« Last Edit: September 12, 2010, 14:37 by HughStoneIan »

alias

« Reply #42 on: September 12, 2010, 14:22 »
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raking in the money while everything that Getty touches turns to sh*t.
I don't think they'll be able to help turning IStock from a cash cow to a dead horse, just like the rest of their businesses.

Major issue at Getty before it was taken private was share price relative to previous peak and the pressures that created around market expectations back to the bubble years.

Part of the point of going private is typically around being able to be quietly profitable or to re structure without not needing to answer to the market expectations of growth. Markets and share price depends upon growth rather than profitability.

Fast forward 2 years ....

« Reply #43 on: September 12, 2010, 14:25 »
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I pulled 100 pictures. My yearly income on those was about 200$ -> IS made 800 $. (fairly medicore folio)

But if 100 photographers pull the same amount is 80.000 dollars - a good salery for a year.

To keep equal - bring in 80.000 - to grow bring in more.  So many samller contributers rapedly sum up.
And remember  - these missing money will show directly on the bottom line, as all the expences was payed long ago.

So - if many pictures are pulles, they really have to bring in a lot more than the useual amount of new material, just to stay even, and yet more to grow.
I appreciate your motivation and your action but unfortunately there is an obvious flaw. By removing your images does not necessarily mean that Istock will lose the revenue __ the buyer will simply chose a different image to fulfill their needs. Istock still gets their money but the commission you would have earned goes to another contributor. It's the buyers themselves we need to move away from Istock.

vlad_the_imp

« Reply #44 on: September 12, 2010, 14:32 »
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Quote
they can't hold a candle to Shutterstock's quality by anyone's measure.

You are kidding? Well vector-wise IS has always been the best , admittedly SS has improved but IS is better without doubt IMHO.

Microbius

« Reply #45 on: September 12, 2010, 14:35 »
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I appreciate your motivation and your action but unfortunately there is an obvious flaw. By removing your images does not necessarily mean that Istock will lose the revenue __ the buyer will simply chose a different image to fulfill their needs. Istock still gets their money but the commission you would have earned goes to another contributor. It's the buyers themselves we need to move away from Istock.
^^
exactly right

« Reply #46 on: September 12, 2010, 14:35 »
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Quote
But if 100 photographers pull the same amount is 80.000 dollars - a good salery for a year.

To put that into perspective, IS currently pays out $1.7 million dollars a week in commission alone. Although I respect your desire for change $80k  is a drop in a very big ocean.

Vlad - I can see, that you are not able to follow my line of reasonening and/ or arguments

« Reply #47 on: September 12, 2010, 14:39 »
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I pulled 100 pictures. My yearly income on those was about 200$ -> IS made 800 $. (fairly medicore folio)

But if 100 photographers pull the same amount is 80.000 dollars - a good salery for a year.

To keep equal - bring in 80.000 - to grow bring in more.  So many samller contributers rapedly sum up.
And remember  - these missing money will show directly on the bottom line, as all the expences was payed long ago.

So - if many pictures are pulles, they really have to bring in a lot more than the useual amount of new material, just to stay even, and yet more to grow.

True - if my port was laptops isolated on wite etc. pics - which it was not - so it depends of the kind og content removed and if it easely substituted - right - but many smaller contributers supply more diversifed material, thatn just the mainstream, and than mean that IS will loose some of the more exiting stuff, thus not providing the same broard content...
But we have to see - theres also the question of the Getty collections.
I appreciate your motivation and your action but unfortunately there is an obvious flaw. By removing your images does not necessarily mean that Istock will lose the revenue __ the buyer will simply chose a different image to fulfill their needs. Istock still gets their money but the commission you would have earned goes to another contributor. It's the buyers themselves we need to move away from Istock.

vlad_the_imp

« Reply #48 on: September 12, 2010, 14:42 »
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Quote
Vlad - I can see, that you are not able to follow my line of reasonening and/ or arguments

Someone else pointed out the flaw in your thinking. Pulling an image doesn't mean IS lose a sale, a buyer will just choose different sellers images on IS so they lose nothing.

« Reply #49 on: September 12, 2010, 15:07 »
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Quote
Vlad - I can see, that you are not able to follow my line of reasonening and/ or arguments

Someone else pointed out the flaw in your thinking. Pulling an image doesn't mean IS lose a sale, a buyer will just choose different sellers images on IS so they lose nothing.

Only if theres a substitute


 

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