Im really beginning to wonder. Was chatting over the net here with a few members, diamond independants, who is also experiencing the worlds worst in October/November, it turns out that one of them is a close friend of an exclusive black-diamond, who complained to him that during these two months, he is down about 50%, asking him if its any better at other sites and so on.

Man, when these kind of members are beginning to complain, well, thats scary, sure it does prove its not only us but its also an indication, things are REALLY down and im just puzzled, asking myself, whats is happening? Must be something else, cant just be buyers are leaving and all that jazz, I mean, pics are still being dld but where?

My small portfolio is running at less than 50% of what I was expecting so far this month. I have assumed up to now that the steady decline was simply chickens coming home to roost following the relentless increasing in prices/unnecessary complexity in collections/general mis-management/low contributor and buyer morale. Howwever, this month feels far more like falling off the edge of a cliff, so I too echo the OP's question What is really going on?? Is there any chance at all somebody will tell us?

I've got black diamond status, but it doesn't really mean much these. Gold members can easily outsell black diamonds. The canister program is now out of date and for the most part irrelevant.

Actual sales figures are a different story, and by the look of it, it looks like this month could be 20 - 25% less in sales then expected. That is a lot. I try not to complain. Last year my sales dropped in October by 20% and that was the first time ever. Prior to that, I always saw constant growth. So I was a little bummed out, but 2011 looked to be recovering. Not anymore.

My guess has always been that declining sales was a result of overly aggressive pricing for Agency files (250 credits) and Vetta files (150 credits). This suggests that iStock has lost sight of it's values as being a simple, good value image market.

Also, more recently, and this was based on the survey results (obviously), the newer files were given more room up front in the searches. This hurt a lot of seasoned artists and benefitted the newer ones. But now, even the newer artists are suffering from less sales.

I'm really curious to see how the management will respond...

Well yes, as a Diamond myself, my sales are at least 50% down and falling. I think we have to face facts,  this is not a flash in the pan, not something that will pass and Lobos best match comment, "this is what the customers want" has turned out to be the worst possible scenario for just about everybody. If they think they can survive this one and on what some futile 5K exclusives, of which probably 1K, have quit exclusivity?  No way. The whole site has become a laughing stock.

ranplet!  the management respond? well this IS management are just puppets, no clout or saying what so ever, when they are told to dance, boy!  they will dance and their response are a messed up site with RC problems, the lot.
How far into 2012, will this company last?  Sites like SS, DT, FT, are doing brillant and rising, thats the best indication we have.

Quote from: lagereek on November 25, 2011, 01:33

Well yes, as a Diamond myself, my sales are at least 50% down and falling. I think we have to face facts,  this is not a flash in the pan, not something that will pass and Lobos best match comment, "this is what the customers want" has turned out to be the worst possible scenario for just about everybody. If they think they can survive this one and on what some futile 5K exclusives, of which probably 1K, have quit exclusivity?  No way. The whole site has become a laughing stock.

ranplet!  the management respond? well this IS management are just puppets, no clout or saying what so ever, when they are told to dance, boy!  they will dance and their response are a messed up site with RC problems, the lot.
How far into 2012, will this company last?

Yeah but in your case you told us you removed 8 blue flames the other day. Anyway, I'm sorry its not happening for Diamonds right now - my own sales are good this month. 20+ downloads on some days but I also recall a month or so back hardly getting any sales so..... phew, I dunno

Yeah, even so that was the other day, right, should not have an effect on the entire 2011 ?  right. You have to put it in perspective, for you 20 sales are good, for me, 20 sales is NOT a good day.

It takes time to lose customers and suppliers. Once done it is hard to undo.

When your favourite restaurant puts up prices you will still probably go there but are more open to looking elsewhere. The restaurant will however have increased profits immediately. When the suppliers are getting less of you than elsewhere they will favour others. Once again however the restaurant will have increased profits immediately. Once however you do start to lose customers and suppliers you are in trouble. Add to that a confused menu of dishes on offer and poor customer service?

You're missing one factor which, I suspect, makes things worse: You've already paid the restaurant $1,000 in advance on the promise of getting $10 meals against your account. When the meals go up to $20 you still have to eat your next 50 meals there, even if you feel it is now out of your price range. This is likely to leave a feeling that you've been conned, so when you finally get to dine elsewhere and they come asking you to go back saying you'll get a better deal in future, your reaction will be: "How stupid do you think I am?"

To take the restaurant anology a little further ... it used to be a cheap but good diner, which is why you went there so frequently. Now they keep trying to sell you the lobster thermidore and even the original dishes are twice the price they used to be. They've totally forgottten the basic philosophy on which they built their business.

Well, I wish all of the agencies would do that, we'd be much better off

What does that analogy make us?  The chefs who put together the artistic creations, or the spud suppliers?

Either way, our wages are getting screwed up 

In my case, chief cook and bottle-washer.

What does that analogy make us?  The chefs who put together the artistic creations, or the spud suppliers?

Either way, our wages are getting screwed up 

you are the spud supplier, the chefs are the staff who are still getting paid , some of these are also spud suppliers who only supply Chez Stock and some are diners who bring a bunch of friends with them to eat and introduce others to eat there .....

Quote from: rubyroo on November 25, 2011, 04:21

What does that analogy make us?  The chefs who put together the artistic creations, or the spud suppliers?

Either way, our wages are getting screwed up 

you are the spud supplier, the chefs are the staff who are still getting paid , some of these are also spud suppliers who only supply Chez Stock and some are diners who bring a bunch of friends with them to eat and introduce others to eat there .....

...and the diners used to get a free meal for introducing friends, now they've got to fill out impossible forms which makes it nearly impossible to get the free meal...whereas the restaurants just down the road make it quite easy

I was browsing for something completely different when I happened to see this link. I have never heard of Superdry, and have no idea what kind of business they are, but I thought Deborah Meaden's (Dragon's Den) comment on its success were appropriate here:
"I say to big companies that they need to behave as though they are an entrepreneurial small business, because as firms get larger, they tend to stop doing that, become arrogant and complacent and lose the qualities that made them great.   ..... they know what they are good at and also what their weaknesses are. ... The company is making sure it has the right expertise to help it develop. "
More: http://www.telegraph.co.uk/sponsored/technology/microsoft-office-365/8897226/Deborah-Meaden-praises-Superdrys-entrepreneurialism.html

I fear that might very well true, and I think iStock may turn out to have shot themselves in the foot by forcing independents into TS.  If sales continue to dwindle, and if that IS a result of a customer migration to TS, then the only option independents will be left with is to pull out of iStock altogether rather than have their ports continue to be available on a site that undercuts their biggest earner (SS).

If that DOES happen, then they will have to start forcing exclusives to contribute to TS to keep it alive, and then I imagine the same cycle of dropping returns and the need for self-preservation would repeat itself.

Just my own thoughts.

I was browsing for something completely different when I happened to see this link. I have never heard of Superdry, and have no idea what kind of business they are, but I thought Deborah Meaden's (Dragon's Den) comment on its success were appropriate here:
"I say to big companies that they need to behave as though they are an entrepreneurial small business, because as firms get larger, they tend to stop doing that, become arrogant and complacent and lose the qualities that made them great.   ..... they know what they are good at and also what their weaknesses are. ... The company is making sure it has the right expertise to help it develop. "
More: http://www.telegraph.co.uk/sponsored/technology/microsoft-office-365/8897226/Deborah-Meaden-praises-Superdrys-entrepreneurialism.html

I love Dragons Den (the US version - Shark Tank - is not half as good). That quote is very pertinent. Someone else posted a while back about how fast IS's transition was, how fast it became the opposite of what it started out as. It used to be a great little company, so far it is terrible at being part of a big corporation.