MicrostockGroup
Agency Based Discussion => iStockPhoto.com => Topic started by: Karen on May 13, 2014, 05:07
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With the last drop of sales on iStock and upcoming subscription plans I think I won't keep my 18%. :'(
How about you?
Thanks for taking part.
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iS has grandfathered the royalty levels for the last two years. So the RC system is kind of defacto nonexistent. I would be very surprised if there isn't a significant change by iS regarding the RC system as it stands today.
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my predictions say this year earnings at iStock won't even reach half month at Shutterstock
which means I am not worried at all
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Initially
iStock Getty decided that Image Subscription downloads will not be calculated toward contributor RC totals.
Actually it will reset the royalty rate to 15% (exclusive 25%) in no time.
Now iStock Getty seems to be afraid of exclusive's massive exodus - they threw a few bones to exclusives in the hope of winning some time.
I think they will drop the RC goals and will bring back the old canister levels to keep the exclusive on board.
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iS has grandfathered the royalty levels for the last two years. So the RC system is kind of defacto nonexistent. I would be very surprised if there isn't a significant change by iS regarding the RC system as it stands today.
I hope they will grandfather too this year. That will possible be the first year I won't reach my 40% level. They should, after the introduction of subs.
On the other hand, while they grandfather existing levels, for some is impossibe to reach the next level, even if improving sales. So, in some way, the RC systems stands.
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Well the RC system is a mess to begin with, but this year we have a bit of a legal issue regarding exclusive contributors. You cannot tie in exclusives to a RC system while marketing a subscription service on the same website that has the ability of taking sales away from us and offer no RC value. Some sort of change has to take place this year - I doubt we will return to the old system, since Getty Images really only wants to pay 20% (or less) to contributors. I hope they come up with an answer to all this by mid year so we can decide for once and for all to either stay or leave.
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Very difficult to calculate, we still don't know the impact that the new subscription program is going to have in sales. I am not very optimistic, my feeling is that lost credit sales are going to be replaced by 34 cents subscription sales. At least during 2014.
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Thats an easy call. I won''t make it. last year I made $1000 less than 2012 and I am on track to make $2000 less this year than last year. Really this industry is in dire straits for the contributor.