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Poll

What are you going to do when istock cut commissions tomorrow?

I have allready left.
14 (6.7%)
I have allready been removing my portfolio.
16 (7.6%)
I will start deleting my portfolio now.
10 (4.8%)
I will just stop uploading.
42 (20%)
I will upload less.
33 (15.7%)
I'm carrying on as normal.
95 (45.2%)

Total Members Voted: 193

Voting closed: January 30, 2011, 04:24

Author Topic: What are you going to do when istock cut commissions tomorrow?  (Read 23584 times)

0 Members and 1 Guest are viewing this topic.

« on: December 31, 2010, 04:24 »
0
As the istock commission cuts are happening 1st January 2011 and we have all had a few months to think about it, I thought it would be interesting to see what people are doing now.  I have stopped uploading and started removing some of my portfolio.  I will leave gradually and hope there are new owners soon that have a better long term strategy.


« Reply #1 on: December 31, 2010, 04:27 »
0
As the istock commission cuts are happening 1st January 2011 and we have all had a few months to think about it, I thought it would be interesting to see what people are doing now.  I have stopped uploading and started removing some of my portfolio.  I will leave gradually and hope there are new owners soon that have a better long term strategy.

It ain't a cut for everyone...
And a personal note: I think the new system is fair for all parties.

« Reply #2 on: December 31, 2010, 04:47 »
0
I started removing all my images today, only another 100 to go. Can't bear to see a single sale with 16 percent commission.
« Last Edit: December 31, 2010, 04:54 by Pheby »

« Reply #3 on: December 31, 2010, 04:50 »
0
As the istock commission cuts are happening 1st January 2011 and we have all had a few months to think about it, I thought it would be interesting to see what people are doing now.  I have stopped uploading and started removing some of my portfolio.  I will leave gradually and hope there are new owners soon that have a better long term strategy.

It ain't a cut for everyone...
And a personal note: I think the new system is fair for all parties.

Fair for all parties? Yeppers.  >:(

ShadySue

« Reply #4 on: December 31, 2010, 04:56 »
0
I'm already uploading much less, especially since my old files are vastly outselling my newer ones - even the ones which wouldn't pass inspection nowadays - go figure! On current showings, that won't change. I happened to catch a new file last month which had sunk to position 83 in a best match search less than 24 hours after appearing in my portfolio - and now people are reporting files not even getting into their ports.
Ethan and Duck will get a well-deserved rest when my canister turns gold but my royalties don't, as I'll almost stop wiki-ing, suggesting bulk wikis and bombarding their in-trays!
I'm guessing people won't help others so much on the forums, as everyone is now directly a rival, not just for sales but for percentage rates, as only a certain percentage will reach each level. Previously helping someone in a different genre had no adverse effect on your own progress; now it does.
But it's not just the cash grab: they just seem to be totally incompetent at everything they do. They don't seem to have any plan, far less a long-term one.  They've heard of buyers, but want no truck with them.
My year started OK: dls down, $$$ up, but my end of year is bad: this month will be over 20% down on last Dec and much more compared to Dec 08 for $$.
I'll be keeping a watching brief on editorial, but to be honest, I can't imagine any local situations selling in numbers which would make micro prices worth it. Different for contributers in big cities, probably.
In Pollyanna mode, things can only get better, but realistically ... ???
So ... continuing to focus, optimistically, on RM/editorial at Alamy. May start looking at other RM agencies with a more local/specialist focus.
« Last Edit: December 31, 2010, 07:56 by ShadySue »

« Reply #5 on: December 31, 2010, 04:59 »
0
Aeonf knows how to become popular round here ;)

I will continue to supply while I continue to earn significant amounts of cash there. But I am trying to develop new revenue streams because of the doubts iS has created about the future earnings potential of microstock. That means more of my effort is going elsewhere so my overall output of stock shots is down. So everyone is likely to get less from me.

ShadySue

« Reply #6 on: December 31, 2010, 05:06 »
0
It ain't a cut for everyone...
Well, I guess an exclusive who keeps the same level and has no Vetta, Agency or extended licences won't get a cut.
And maybe a few Black Diamonds have reached the 45% level (but will still have the above cuts, so who knows where the balance will be, even for them)

grp_photo

« Reply #7 on: December 31, 2010, 06:14 »
0
Aeonf knows how to become popular round here ;)

If he talked about exclusives I think he is right the new system is much fairer to exclusives as the old canister-system, but for non-exclusives it was always ridiculous and now it is a slap in the face.

« Reply #8 on: December 31, 2010, 06:37 »
0
It ain't a cut for everyone...
And a personal note: I think the new system is fair for all parties.

It is a cut for nearly everyone ... except Istock of course. As an independent I doubt that even Yuri will maintain the 20% rate which would mean that 100% of independents are losing out (and that means about 80% of all contributors). The only contributors who won't lose are maybe 200-300 exclusives at the very top and, ironically enough, exclusives who have never got beyond Bronze as they can't drop any further (yet). There will be a few more relative newbies who having been growing fast and may even gain from this but that's probably no more than a handful. Upload limits at the lower canister levels make it difficult to grow quickly though.

If Istock were simply re-distributing the same commission pot to reward those who are currently working hard (to the cost of those who were sitting on their laurels) then I could see how that might be considered 'fair' by some. But that's not what's happening. Istock are simply choosing to grab more for themselves at the cost of most contributors.

« Reply #9 on: December 31, 2010, 07:36 »
0
I will put up niche shots. Others are killed in the best match searches. All non- exclusives take a cut (unless secret deals are being done?) . Putting up files is a pain there and the inspection is weird  considering the over processed stuff put up as Vetta. It doesn't form a cohesive collection of uniform standard anymore and the bugs get worse.

« Reply #10 on: December 31, 2010, 08:04 »
0
I'm holding to the course I chose when all this was announced.  No new uploads since the beginning of September, and five images deleted every day. 

iStock has been a consistent #2 earner for me.  Curious to see where they fall next month.

« Reply #11 on: December 31, 2010, 08:12 »
0
As the istock commission cuts are happening 1st January 2011

I will bet you a dollar that they won't be happening tomorrow.  I would say the 17th at the earliest.

ShadySue

« Reply #12 on: December 31, 2010, 09:17 »
0
As the istock commission cuts are happening 1st January 2011

I will bet you a dollar that they won't be happening tomorrow.  I would say the 17th at the earliest.
It would cost me too much to send you the dollar, but I'll be surprised if they haven't had the Big Red Button ready to press since early September, and it will be pressed at midnight Calgary time. Maybe Kelly will come into the office specially to hit it.
But I could be wrong, of course.

« Reply #13 on: December 31, 2010, 09:47 »
0
Seeing as how they cannot have a solid grasp on peoples' numbers for at least 3 days ( the usual RC calculations ), plus the fraud RC removal, plus the Vetta and audio RC additions ...

ShadySue

« Reply #14 on: December 31, 2010, 09:50 »
0
Seeing as how they cannot have a solid grasp on peoples' numbers for at least 3 days ( the usual RC calculations ), plus the fraud RC removal, plus the Vetta and audio RC additions ...
I think they'll hit it anyway, and say they'll adjust later, knowing it's almost impossible for us to know what's really due to us.
If I'm wrong, it's the first nod to consumer sensibilities we'll have had in months, though it will only affect the people 'on the cusp'.

« Reply #15 on: December 31, 2010, 10:10 »
0
I generally go by the adage, "Never attribute to malice what can adequately be explained by stupidity", but have always given iStock's greed the benefit of the doubt.    Most of iStock's blunders end up costing someone else money.  But failing to drop our royalties on the appointed day?  That really would demonstrate that they're even more incompetent than they are greedy.  Then again, how long will it take us to know, truly know that our royalties have been reduced?

« Reply #16 on: December 31, 2010, 10:22 »
0
Aeonf knows how to become popular round here ;)

I will continue to supply while I continue to earn significant amounts of cash there. But I am trying to develop new revenue streams because of the doubts iS has created about the future earnings potential of microstock. That means more of my effort is going elsewhere so my overall output of stock shots is down. So everyone is likely to get less from me.

Yeah I know I am not going to get the popularity vote...
Just stating my own opinion, which I am well aware is the minorityone  here.
When I said fair, I ment for exclusives, for indys it is not, but IS cares much less about them, add to the fact that the vast majority of them won't really do anything in regards of the pay cut.

WarrenPrice

« Reply #17 on: December 31, 2010, 11:02 »
0
Having just started, I don't really have a portfolio -- about 80 images.
Not sure what to do.  Maybe wait and see?

« Reply #18 on: December 31, 2010, 11:40 »
0
option G: stopped uploading when they made the announcement, their competitors get all the new stuff unless they make some changes in my favor for a change. I have no expectations of this happening.

I think it is completely wrong to say the new system is fair for all parties - especially not the indys. If they changed it so the total commission was just redistributed that would be maybe ok, but they just took a larger chunk of the pile for themselves. I'd have to look at their books to make a real judgement about what is fair, but I am pretty sure it isn't 80-20, especially not with the incompetence shown of late.

« Reply #19 on: December 31, 2010, 12:56 »
0
I'm carrying on as normal for now. I expect lots of confusion in January as they try to fix everything they broke and get a working system.

Given the lack of detailed reporting on sales (see my suggestion forum post about fixing that) and big variations in credit prices, it won't be easy to know when they change the rate.

I expect that when they do announce the new RC targets (to meet in 2011 for 2012 royalties)  they'll be higher at the top levels than those for 2011 royalties. That will guide my planning for the future. I'll be most interested to see how this feudal model works out (royalty and peasants), especially if the royalty see more of their premium price sales coming from Getty, not iStock (where they don't earn RCs for next year's targets).

« Reply #20 on: December 31, 2010, 13:17 »
0
I stopped uploading when they announced the commission cut back in Sept, and I won't resume uploading for less than 20%. I hear a lot of complaining about iStock's greed, but think about it, would they be able to get away with the money grab if not for our greed? I can't understand how any self respecting indy would keep uploading after the commission cut! We have several other outlets for our new stuff. Imagine if all indys just stopped uploading right after the announcement...! It might make a difference. But most indys just kept right on uploading, not want to miss out on any additional $$$. We are becoming willing participants in the downfall of microstock.

helix7

« Reply #21 on: December 31, 2010, 13:34 »
0
I will bet you a dollar that they won't be happening tomorrow.  I would say the 17th at the earliest.

Definitely agree. istock isn't capable of rolling out a widespread royalty change like this. Especially coming out of a long holiday and while dealing with all of the other current issues.

« Reply #22 on: December 31, 2010, 13:39 »
0
I'm kinda out of it because I haven't been following any pay cut news at IS. I doubt it will cause me to stop uploading my paltry 4-6 images per month. If the rates go down lots I guess I'll just consider IS a middle tier provider.

« Reply #23 on: December 31, 2010, 13:42 »
0
I have already stopped uploading and will not upload any more, until they decide to trat us fairly..

nruboc

« Reply #24 on: December 31, 2010, 13:45 »
0
I will bet you a dollar that they won't be happening tomorrow.  I would say the 17th at the earliest.

Definitely agree. istock isn't capable of rolling out a widespread royalty change like this. Especially coming out of a long holiday and while dealing with all of the other current issues.

Quite possibly, but my guess is reducing commissions will have priority among all current issues.


 

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