MicrostockGroup Sponsors


Author Topic: 500px - Kelly Thompson strikes again  (Read 33659 times)

0 Members and 1 Guest are viewing this topic.

Tror

« on: March 21, 2016, 11:44 »
+25
...from the email:

"The royalty rate

Weve been learning what it takes to operate and grow an online marketplace. With expanding technology development, legal management and marketing efforts, we incur costs to showcase the marketplace and attract new buyers. While we want to give photographers the best possible royalty rate, and so launched with the 70% commission, we've learned that the reality of running a stock marketplace requires a different structure. We still believe it is important to reward the creators, which is why we will continue to give you an industry-leading royalty rate of 60% on images exclusive to 500px, while moving to a 30% rate for non-exclusive images."

Can somebody just lock that guy up?


« Reply #1 on: March 21, 2016, 11:49 »
+14
Unbelievable, it is very sad to loose such a nice and contributor friendly community.

BR,

Kalevi

« Reply #2 on: March 21, 2016, 11:49 »
+5
full text:



Were writing to let you know about some changes that will affect the photographer royalty rate and the 500px Marketplace licensing tiers. We are honored that you have chosen 500px to represent your work, and that is why we are notifying you in advance of these changes.

Weve learned a lot in our two years of running the 500px Marketplace. Since its launch in March 2014, the number of sales and clients have outperformed our projections. We want to grow this business even bigger, for your sake and ours, and we are investing in international expansion and improved technology to attract even more clients.

As we look toward doing that, we need to make some changes to ensure we will continue to be a healthy business that can deliver for our clients and for our contributors. We are changing the photographer royalty rate to ensure the sustained growth of 500px. We are also restructuring our licenses to increase market competitiveness and broaden our customer base. These changes will come into effect on April 4, 2016.

Why were making these changes

The pricing and licensing restructure

Weve solicited a lot of feedback on what we need to do to meet our licensing clients needs and to be competitive in the market in order to grow licensing sales. We are adjusting our pricing and license structure in order to fit the markets needs. This will also give our stock buyers more flexibility, facilitating a greater number of your photos sold.

The royalty rate

Weve been learning what it takes to operate and grow an online marketplace. With expanding technology development, legal management and marketing efforts, we incur costs to showcase the marketplace and attract new buyers. While we want to give photographers the best possible royalty rate, and so launched with the 70% commission, we've learned that the reality of running a stock marketplace requires a different structure. We still believe it is important to reward the creators, which is why we will continue to give you an industry-leading royalty rate of 60% on images exclusive to 500px, while moving to a 30% rate for non-exclusive images.

What you need to know

We will be testing prices for the standard licenses of the Core and Prime collections to validate our price offerings starting on April 4. This will take place over a period of a few months. You may observe prices changing during this testing period.

We will be unbundling Multi-Seat and Unlimited Print license add-ons from the standard license that applies to both Core and Prime collections. Stock buyers who need these licenses will now pay an additional fee.

We have created a series of licenses add-ons, which includes Items for Resale and a new Extended Legal Warranty, available for an additional fee.

We are increasing the size of the Web Ready license from 1500 pixels to 1800 pixels on the longest side.

We are moving from one royalty rate for all content to a rate based on the exclusivity of your images. This will help us build a stronger collection to market to buyers.

Royalties are not paid to photographers on the Extended Legal Warranty, as 500px is taking sole responsibility for its associated risks.

All prices in USD
What you should do

Go to your Photo Manager and mark any exclusive photos to ensure the highest royalty rate available.

We recognize this is a lot of change, and that it may affect your decision to license your photos through 500px. You may not be happy about these changes, but please know that we weighed all of the options very carefully before making this decision. This will help us keep our community and marketplace growing and sustainable, and help us become more competitive in the licensing market. We consulted with some of you before making these changes to get your input, and if you would like to share your personal feedback, please reach out to our Customer Excellence team at help@500px.com.

Thank you for being a valuable member of the amazing 500px community. We look forward to our continued partnership as we grow the 500px licensing business with you.

Andy Yang
500px CEO

Kelly Thompson
500px Marketplace VP
Copyright 2016 500px, All rights reserved.

Youre receiving this e-mail because youre signed up to receive communications from 500px.
Change your subscription settings or unsubscribe instantly.

500px
20 Duncan St
Toronto ON Canada
M5H 3G8

« Reply #3 on: March 21, 2016, 11:51 »
+32
Please stop with the growing and sustainable crap!! others pay 50% and are doing just fine! It is money that makes me happy! Take a case lesson on what happened at iStock with these sustainable changes. Getty has nothing to fear from 500px! Sorry but I thought you learned from your mistakes. Don't submit there anyway, just frustrated to see bad business choices made.
« Last Edit: March 21, 2016, 11:55 by jjneff »

« Reply #4 on: March 21, 2016, 11:57 »
+9
Is Nuno still at 500px?

I thought there was a lot more that can be done to increase sales, than just slash photographers income?

Glad I made those exclusive images non exclusive.

No mention of how they will increase sales, how they will deal with a review time of months...

Not funny.

« Reply #5 on: March 21, 2016, 12:01 »
+25
"Money won't make you happy" Kelly Thompson

« Reply #6 on: March 21, 2016, 12:02 »
+22
How long until they introduce a subs plan?

« Reply #7 on: March 21, 2016, 12:05 »
+36
To show my appreciation I am closing my account today.

Edit: My account is now closed!!
« Last Edit: March 21, 2016, 18:42 by Mantis »

« Reply #8 on: March 21, 2016, 12:05 »
+19
Getty has nothing to fear from 500px!

Did you ever think Getty has something to fear from 500px? It is partly funded by Visual China Group which has a long standing partnership with Getty Images that was just deepened by the Corbis deal.

Now a former Getty manager is hired by 500px to head the market.

Can't you guess already what the next exciting news will be? Let me write it for you:

"We are excited to announce a partnership with Getty Images that will allow more customers to see and buy your content. Of course you will still receive your usual 30% of the 20% Getty pays us. But you know what? We might drop the weekly upload limit, so you can give us your images faster than ever."

« Reply #9 on: March 21, 2016, 12:06 »
+15
so glad I never spent a second there

« Reply #10 on: March 21, 2016, 12:09 »
0
Is Nuno still at 500px?

delete

PaulieWalnuts

  • On the Wrong Side of the Business
« Reply #11 on: March 21, 2016, 12:09 »
+27
We all knew this was coming as soon as they hired Kelly. It's Istock 3.0 and they're already starting to repeat the same proven methods of wringing contributors dry.

I'm so glad I've been focusing on selling direct and not wasting any more time on agencies.

« Reply #12 on: March 21, 2016, 12:09 »
0
LOL I like that one and probably correct!

« Reply #13 on: March 21, 2016, 12:27 »
+5
They should have hired a dog or a broomstick instead for this position. In the long run they would be more successful than with this guy.

« Reply #14 on: March 21, 2016, 12:35 »
+13
f.....ng h..ll   U^&%%^*&^(()~@:)_(*&*(&%*

it was f.....ng inevitable, i am pulling my port, paid my renewal subscription last week, assh...es

« Reply #15 on: March 21, 2016, 12:39 »
+10
Well thank the lord I never paid to join this outfit.

Uploading there just ground to a halt.

« Reply #16 on: March 21, 2016, 12:46 »
+1

50%

« Reply #17 on: March 21, 2016, 12:47 »
+6
Is Nuno still at 500px?


No he is not there anymore I'm sure he was responsible for the fair and contributor friendly rate of 70%
« Last Edit: March 21, 2016, 13:06 by 50% »

« Reply #18 on: March 21, 2016, 12:48 »
+6
3rd April, i will close my account.

I hope that 3rd April will be the "Closing Account Day" on 500px.

« Reply #19 on: March 21, 2016, 12:51 »
+23
Whaaaatttt? ... well that explains which "direction" they are heading. Cutting from 70% to 30% - I don't think anybody's done that before. They are first.

« Reply #20 on: March 21, 2016, 12:51 »
+6
Getty has nothing to fear from 500px!

Did you ever think Getty has something to fear from 500px? It is partly funded by Visual China Group which has a long standing partnership with Getty Images that was just deepened by the Corbis deal.

Now a former Getty manager is hired by 500px to head the market.

Can't you guess already what the next exciting news will be? Let me write it for you:

"We are excited to announce a partnership with Getty Images that will allow more customers to see and buy your content. Of course you will still receive your usual 30% of the 20% Getty pays us. But you know what? We might drop the weekly upload limit, so you can give us your images faster than ever."

Betting you are bang on.

« Reply #21 on: March 21, 2016, 12:52 »
+4
500px, usually you join to the discussions with your explanations, uuu where are you?

« Reply #22 on: March 21, 2016, 12:54 »
+4
57% pay cut

« Reply #23 on: March 21, 2016, 12:56 »
+17
I was about to upload my port there.  I'm so glad that I hadn't already started!!!

« Reply #24 on: March 21, 2016, 13:04 »
+15
I think I'll focus even more on Alamy (50% share) now ;)


 

Related Topics

  Subject / Started by Replies Last post
4 Replies
2799 Views
Last post November 19, 2008, 22:43
by hali
22 Replies
5876 Views
Last post September 21, 2010, 11:24
by Case
107 Replies
23107 Views
Last post April 13, 2011, 04:53
by ShadySue
84 Replies
19079 Views
Last post January 23, 2012, 21:38
by Suljo
87 Replies
12140 Views
Last post November 27, 2015, 01:49
by shiyali

Sponsors

Microstock Poll Results