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Author Topic: Sales slump  (Read 89630 times)

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« Reply #50 on: August 11, 2010, 12:24 »
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Great.  Just effing wonderful.   >:(

Yep, if they've got any sense buyers will be loading up on those 25% discounted credits and them spending them (probably at just the same rate as they would have anyway) over the next year. I suppose it might commit their loyalty to Istock for a few more months but no real reason to believe it will increase the numbers of images they buy.

Good for short-term corporate cash flow while they try to think of something else to boost the earnings.

PS: I see that the "F5 live" thread, after the statutory initial corporate WooYay, is now awash with complaints about site usability and the post F5 sales slump.
« Last Edit: August 11, 2010, 12:27 by BaldricksTrousers »


lisafx

« Reply #51 on: August 11, 2010, 12:24 »
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Finally found this mentioned buried in the 36 page F5 thread here:

http://www.istockphoto.com/forum_messages.php?threadid=240711&page=35

Only a few people (Sean, Slobo, Abzee) have even bothered to comment about it.  Pretty sad.  

I added a comment, but since it will probably be deleted I will cross-post here:

I am really surprised a bigger deal isn't being made about this. Only place to find this information is buried in a 36 page forum thread?

So now, in addition to dwindling sales, we have to eat a 25% drop in royalties? It wasn't the contributors decision to redo the site, it wasn't our decision to lobby customers to switch to Thinkstock, it wasn't contributors decision to raise prices on large sections of the collection.

Since we didn't make any of the decisions that are chasing buyers away, why do we have to eat the cost of trying to woo them back?

« Reply #52 on: August 11, 2010, 12:29 »
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I only see Sean's comment, not an official statement.

I'm pretty sure he is right, though.

SNP

  • Canadian Photographer
« Reply #53 on: August 11, 2010, 12:32 »
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Great.  Just effing wonderful.   >:(

Yep, if they've got any sense buyers will be loading up on those 25% discounted credits and them spending them (probably at just the same rate as they would have anyway) over the next year. I suppose it might commit their loyalty to Istock for a few more months but no real reason to believe it will increase the numbers of images they buy.


I believe the credits have to be used by a certain date? my sales are dipping, but I may be falsely attributing it to the new site because of sensitivity to it. summer sales are up and down like a whore's drawers anyways, so who knows.

« Reply #54 on: August 11, 2010, 12:32 »
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..But I still don't understand why a number of people have noticed a sharp sales drop since F5 - if there is no search change, then is there something that buyers are finding confusing or offputting about the new site?
I haven't seen any drop in the few days since the new site was implemented.  I think people are more inclined to post when their sales fall than when they are stable or going up.  A few slow days this time of the year isn't unusual.

« Reply #55 on: August 11, 2010, 12:34 »
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25% off 23c for an XS is 18c.

« Reply #56 on: August 11, 2010, 12:35 »
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Finally found this mentioned buried in the 36 page F5 thread here:

http://www.istockphoto.com/forum_messages.php?threadid=240711&page=35

Only a few people (Sean, Slobo, Abzee) have even bothered to comment about it.  Pretty sad.  

I added a comment, but since it will probably be deleted I will cross-post here:

I am really surprised a bigger deal isn't being made about this. Only place to find this information is buried in a 36 page forum thread?

So now, in addition to dwindling sales, we have to eat a 25% drop in royalties? It wasn't the contributors decision to redo the site, it wasn't our decision to lobby customers to switch to Thinkstock, it wasn't contributors decision to raise prices on large sections of the collection.

Since we didn't make any of the decisions that are chasing buyers away, why do we have to eat the cost of trying to woo them back?


This is thread about the 25% discount: http://www.istockphoto.com/forum_messages.php?threadid=242092&page=1

lisafx

« Reply #57 on: August 11, 2010, 12:37 »
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Thanks for that link.  I couldn't find it anywhere, and the forum search is as useless as ever. 

« Reply #58 on: August 11, 2010, 12:52 »
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25% off 23c for an XS is 18c.

And 23c is not the lowest you can get now. I believe I've seen 0.16c. So 25% off that is 0.13c :]

lagereek

« Reply #59 on: August 11, 2010, 12:57 »
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RM and RF, is for the first time in many years on the increase!  I and many of my collegues are noticing a big increase especially in RF, there has got to be a reason for this? since both RM and RF is a hell of a lot more expensive then Micro,  yet thyere on the rise. One gets the feeling that Micro is loosing its credibillity?

However, Micro is symbolic with cheap shots and thats it and ofcourse the slightest price increase will probably make the average Micro buyer think of suecide and it could very well be that all these price increases, E+ and, etc, etc, finally put the last nail in the coffin.

« Reply #60 on: August 11, 2010, 12:58 »
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I can't believe I'm reading this.

No other site, as far as I know, has ever done such a thing.
No matter how big, well known the site, or up-coming and small.

It is incredible that mighty Getty can't afford a few days promotion without asking the contributors to pay for it.
I'm going to stop here, before I get into some serious trouble.

« Reply #61 on: August 11, 2010, 13:02 »
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They've been doing it for three years. It isn't new. That's why there are so many different commision levels paid depending on what discounts they give to bulk buyers. Check the cash you get for any given size of sale and you will see the prices are all over the place.

SNP

  • Canadian Photographer
« Reply #62 on: August 11, 2010, 13:04 »
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..But I still don't understand why a number of people have noticed a sharp sales drop since F5 - if there is no search change, then is there something that buyers are finding confusing or offputting about the new site?
I haven't seen any drop in the few days since the new site was implemented.  I think people are more inclined to post when their sales fall than when they are stable or going up.  A few slow days this time of the year isn't unusual.


very true, I catch myself attributing a normal dip to the new site....and it probably isn't at all related. Question for Lagereek, why are you referring to RF and micro as mutually exclusive? I'm trying to understand your post.

« Reply #63 on: August 11, 2010, 13:21 »
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All right Baldrick.
So this is a Getty thing?
Offering buyers' promotions paid for by contributors?
And it has been happening for years?

Well, I had 4 sales in the past 3 months at IStock.
It's really not my place to be worrying about it.
I'll leave that to the golds, diamonds and black diamonds exclusives who, I'm sure, have a lot more to say.
Thanks for the info though, good to know :)

« Reply #64 on: August 11, 2010, 13:27 »
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I can't believe I'm reading this.

No other site, as far as I know, has ever done such a thing.
No matter how big, well known the site, or up-coming and small.

Seriously?  DT lowered commission percentages in the last year. FT undercut credit sales by offering very, very cheap subs, while at the same time raising the bar significantly for future "cannister" levels. I'm sure there are plenty of more examples people can come up with.  In the larger scheme of things, having a short term 25% sale isn't a huge deal.

« Reply #65 on: August 11, 2010, 13:38 »
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DJPadanova,

Yeah, seriously.

No other site I know of has ever offered a buyer promotion paid for by contributors.
End of story.

Don't confuse comissions with short term buyer promotions.
And talking about commissions, they're higher on the other sites.
And in my case, so are my sales.

But if you're happy paying for it, great!
Not my problem.

« Reply #66 on: August 11, 2010, 13:46 »
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DJPadanova,

Yeah, seriously.

No other site I know of has ever offered a buyer promotion paid for by contributors.
End of story.

Don't confuse comissions with short term buyer promotions.
And talking about commissions, they're higher on the other sites.
And in my case, so are my sales.

But if you're happy paying for it, great!
Not my problem.

Your sales?  Didn't you just mention you've had 4 sales in 3 months in iStockphoto?  I don't mean to be rude, but it looks to me like you are brand new to this and really not in position to make macro commentaries on the industry.  Trust us.  Those who have been around for several years contributing to the various sites have seen plenty.  This is the tip of the iceberg.

« Reply #67 on: August 11, 2010, 13:49 »
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Question for Lagereek, why are you referring to RF and micro as mutually exclusive? I'm trying to understand your post.
I have the same question.

« Reply #68 on: August 11, 2010, 13:57 »
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I would assume he meant macro stock RF?

« Reply #69 on: August 11, 2010, 14:02 »
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Question for Lagereek, why are you referring to RF and micro as mutually exclusive? I'm trying to understand your post.
I have the same question.

He's clearly thinking of the RF and RM sales on "traditional" sites such as Corbis and Gettyimages where prices are far higher. All sorts of different licenses are offered at the high price sites, including RF. Trying to link rising sales on such sites with falling sales on micros is a bit silly IMHO. Buyers are hardly likely to say "well I'm tired of paying $10 for these micro pictures so I'll go and pay $300 for one from Getty instead". If sales are going up at those agencies it probably reflects rising business confidence among big companies which are willing to pay extra for something that isn't likely to be used elsewhere.

I don't know about Getty or Corbis, but the Alamy discussion forum is full of complaints about falling prices and low sales, and that would probably be the first stop for cash-conscious buyers looking to switch out of the micros.

« Reply #70 on: August 11, 2010, 14:09 »
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I think DPadanova, that you're going a bit off topic now.
My sales ...
Right.

I have poor sales. You don't. You're successful and obviously know a lot more about this business than I do.
Can you tell me of any other site that offers a buyer promotion and asks contributors to pay for it?
I would love to know.
Or would you rather talk about my sales and my portfolio instead?
Your choice...
But maybe not the right thread.

« Reply #71 on: August 11, 2010, 14:37 »
0
DJPadanova,

Yeah, seriously.

No other site I know of has ever offered a buyer promotion paid for by contributors.
End of story.

Don't confuse comissions with short term buyer promotions.
And talking about commissions, they're higher on the other sites.
And in my case, so are my sales.

But if you're happy paying for it, great!
Not my problem.

Your sales?  Didn't you just mention you've had 4 sales in 3 months in iStockphoto?  I don't mean to be rude, but it looks to me like you are brand new to this and really not in position to make macro commentaries on the industry.  Trust us.  Those who have been around for several years contributing to the various sites have seen plenty.  This is the tip of the iceberg.
They take 80% of our (non.excl) commission. Yet they still have the guts to make us pay for a 25% off promotion... you can be bothered by it or not, but i dont think you need daily sales to have an opinion on these dry facts. I always experienced Eireann as someone with a pretty lucid view on things; + if only the big fish can talk this place would become pretty quiet.

lagereek

« Reply #72 on: August 11, 2010, 14:45 »
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Question for Lagereek, why are you referring to RF and micro as mutually exclusive? I'm trying to understand your post.
I have the same question.

An RF shot can easily sell for anything between 10 up to hundereds of bucks, a Micro shot can sell for what?  25 bucks?  proper RF is pretty much the thing within the Trad-agencies, Getty, Alamy, Corbis, etc,  but no, you dont have to be exclusive to supply to RM.

« Reply #73 on: August 11, 2010, 14:51 »
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As an exclusive, I'm certainly not happy about it.  But this isn't the first time a lower priced package has been introduced at a microstock site, with everyone's commission percentages staying the same.  At least in this case it is a temporary sale.

My point is relevant imo.  You admit you have only been doing this for a year, and you haven't gotten your sales up to speed yet.  Fine, you're learning just like me.  But when you make statements like "I've never seen anything like this before in the history of microstock" when you are brand new to the industry, it is with a lack of perspective.  

If you want to see the fur flying, go back about 14-18 months in the FT forum and read what happened there.  There were photographers completely kicked out of FT for voicing their opinions on this message board and theirs.  DT forced subs on the contributor base while still forcing them to stay locked in a 6 month agreement, even though the agreement had clearly changed.  It's all happened before, and will again.  A 25% short term sale sucks but it doesn't make me want to revolt.


I think DPadanova, that you're going a bit off topic now.
My sales ...
Right.

I have poor sales. You don't. You're successful and obviously know a lot more about this business than I do.
Can you tell me of any other site that offers a buyer promotion and asks contributors to pay for it?
I would love to know.
Or would you rather talk about my sales and my portfolio instead?
Your choice...
But maybe not the right thread.

« Reply #74 on: August 11, 2010, 14:51 »
0
An RF shot sold through a traditional agency can easily sell for anything between 10 up to hundereds of bucks, a Micro RFshot can sell for what?  25 bucks?  proper RF is pretty much the thing within the Trad-agencies, Getty, Alamy, Corbis, etc,  but no, you dont have to be exclusive to supply to RM.


 

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