pancakes

MicrostockGroup Sponsors


Author Topic: What's new on the Agreement?  (Read 1271 times)

0 Members and 1 Guest are viewing this topic.

« on: August 20, 2019, 07:20 »
0
Never thought to keep a copy, got the "Agreement have changed, review the current doc here" notification and read the most of it.

But I cannot spot any change, perhaps it is the "if you sell elsewhere cheaper, we lower the price to equal or beat competition" part?

?


« Reply #1 on: August 20, 2019, 10:07 »
+1
Not sure if it's spelled out in the new agreement but: The royalty rate for nonexclusive sound fx was recently lowered to 35%. 

« Reply #2 on: August 20, 2019, 10:35 »
0
Read that but I don't know anything on audio.

Quote
For Music Tracks and Sound Effects, your share of Net License Revenue will be 35%

This time I will c/p the whole text for the next "update" :)

Not sure if I remember those words previously:

Quote
We may also exclude or deduct any of the following from the calculation of the Net License Revenue and the net amount payable to you: (A) taxes or other withholdings paid by the customer or that we determine are required by applicable law; (B) refunds, chargebacks and uncollectible sums; and (C) fees, charges and/or costs payable to or deducted by financial institutions for the processing of any credit card, debit card, e-check or alternative payment method and/or currency conversion for payments received by us or paid to you in a currency other than U.S. Dollars.

Edit

plus this

Quote
In cases where a customer purchases an Extended License, we will deduct from Net License Revenue and retain a portion of the additional fees charged for the Extended License as a "Legal Guarantee Fee" to cover our self-insurance costs as determined by us in our sole discretion for providing the customer with additional legal protection. For avoidance of doubt, you will be paid your share of the net Extended License fees collected by us after such Legal Guarantee Fee is deducted. Refer to the Website Contributor Portal Payout Overview for further details.
« Last Edit: August 20, 2019, 10:37 by georgep7 »

Microstock Man

  • microstockman.com

« Reply #3 on: August 20, 2019, 17:07 »
+6
It could be the royalty rate cut for sound effect contributors...I'll copy the email here:

--------

Dear Artist,
Were deeply proud of the quality, depth, and breadth of our marketplacethank you for your contributions to this best-in-class collection!

Developing a global customer base for your content is of the utmost importance to us. That's why we're investing heavily in serving everyone from freelancers and small businesses to production companies, agencies, and large enterprises.  As we continue to expand the audience for your work, we will also be adjusting your share of license revenue to align with the industry standard for a non-exclusive marketplace.

Beginning September 3, 2019, contributors to our Sound Effects offering will begin collecting 35% of the license revenue their content generates. We did not make this change lightly but we are no longer able to pay a materially higher revenue share for the same content available on competing websites while continuing to invest in developing an industry-leading marketplace for your media. We appreciate your understanding as we align with an extremely competitive landscape.
We expect the continued growth of our marketplace to directly benefit you as more buyers license more content, more frequently.

--------

Pond5 had such a good reputation largely because of their commissions, but things aren't looking so good lately....

wds

« Reply #4 on: August 20, 2019, 17:21 »
+2
So they cut royalty rates on video and sound files.  :(

« Reply #5 on: August 20, 2019, 18:53 »
+8
I saw the new term "bend over" somewhere in there

« Reply #6 on: August 21, 2019, 02:55 »
+1
Thanks! I never got that email. Perhaps it goes only to sound contributors? Thanks anyway :)

It could be the royalty rate cut for sound effect contributors...I'll copy the email here:

--------

Dear Artist,
Were deeply proud of the quality, depth, and breadth of our marketplacethank you for your contributions to this best-in-class collection!

Developing a global customer base for your content is of the utmost importance to us. That's why we're investing heavily in serving everyone from freelancers and small businesses to production companies, agencies, and large enterprises.  As we continue to expand the audience for your work, we will also be adjusting your share of license revenue to align with the industry standard for a non-exclusive marketplace.

Beginning September 3, 2019, contributors to our Sound Effects offering will begin collecting 35% of the license revenue their content generates. We did not make this change lightly but we are no longer able to pay a materially higher revenue share for the same content available on competing websites while continuing to invest in developing an industry-leading marketplace for your media. We appreciate your understanding as we align with an extremely competitive landscape.
We expect the continued growth of our marketplace to directly benefit you as more buyers license more content, more frequently.

--------

Pond5 had such a good reputation largely because of their commissions, but things aren't looking so good lately....

« Reply #7 on: August 21, 2019, 10:32 »
+2
I have a question, in light of the massive changes at Pond5 and the general slower than normal summer sales conditions but especially since Pond5 is no longer a viable way to make a living, where do we sell video now?, I am talking about editorial video that is.

I have primarily editorial content and the only sites I have found that even accept that are pond5, SS, StoryBlocks, motion elements and Newsflare.   The only viable one has been pond5 followed by SS for the most part. Storyblocks is closing their marketplace in September.

Anyone have any thoughts on Motion Elements?, I know they focus on the Asian market and don't even come up on a Google search for stock footage when searching from North America so I am not sure if sales even happen there and while uploading and keywording seems fairly straightforward there adding titles and other preferences takes forever so it would be a lot of work just to find out it's not viable.

Sales for me this summer have been 50% less than normal on SS so there is less demand and it's across all genres of content from what I'm reading, not just editorial, everything is slower this year.

Pond5 has been even slower but possibly for other reasons in addition to the global recession and changing consumer (millenials) demands, the pay cut when the exclusive program was announced, the 30% discounts and other fees they now take for so called large volume buyers who probably don't even exist an now the $80 price cap to hide all clips over $80 from customers, the LLP and GPP programs which give our work away for nearly free to customers etc.

Pond5 has responded to the industry downturn by changing their culture as well which didn't help the situation, they would get a lot more support from producers had they simply told the truth (impossible for startup people) and simply said we cannot continue  under the current business model given market conditions and competition, people would have been angry, then upset but then understanding, now they are just angry, angry that Pond5 took the lead in the race to the bottom after telling producers that we should value our work and price higher and even go exclusive and then bait and switch it was with a cap on the prices in the search and 4K/HD content still being heavily discounted and we all realized we got taken by the company that used to be one that producers could trust.

I lowered my prices to fit under the cap but found my clips still can't be found in Canada or other countries where after the currency conversion it brings the price over $80.

So one option is to try and find other agencies to sell on and the other is to give it up and close the business after 12 years.






Microstock Man

  • microstockman.com

« Reply #8 on: August 21, 2019, 16:10 »
+2
Thanks! I never got that email. Perhaps it goes only to sound contributors? Thanks anyway :)

It could be the royalty rate cut for sound effect contributors...I'll copy the email here:

--------

Dear Artist,
Were deeply proud of the quality, depth, and breadth of our marketplacethank you for your contributions to this best-in-class collection!

Developing a global customer base for your content is of the utmost importance to us. That's why we're investing heavily in serving everyone from freelancers and small businesses to production companies, agencies, and large enterprises.  As we continue to expand the audience for your work, we will also be adjusting your share of license revenue to align with the industry standard for a non-exclusive marketplace.

Beginning September 3, 2019, contributors to our Sound Effects offering will begin collecting 35% of the license revenue their content generates. We did not make this change lightly but we are no longer able to pay a materially higher revenue share for the same content available on competing websites while continuing to invest in developing an industry-leading marketplace for your media. We appreciate your understanding as we align with an extremely competitive landscape.
We expect the continued growth of our marketplace to directly benefit you as more buyers license more content, more frequently.

--------

Pond5 had such a good reputation largely because of their commissions, but things aren't looking so good lately....

You're welcome! Yeah I guess it probably only went out to audio contributors - why would they want to advertise their royalty rate cut I guess.

I hate this kind of stuff though. They have been giving millions upon millions in recent years in backing, and then they cut royalties!? Slowly going the way of iStock I fear.

Noedelhap

  • www.colincramm.com

« Reply #9 on: August 22, 2019, 05:04 »
+2
I have a question, in light of the massive changes at Pond5 and the general slower than normal summer sales conditions but especially since Pond5 is no longer a viable way to make a living, where do we sell video now?, I am talking about editorial video that is.
(...)
Anyone have any thoughts on Motion Elements?, I know they focus on the Asian market and don't even come up on a Google search for stock footage when searching from North America so I am not sure if sales even happen there and while uploading and keywording seems fairly straightforward there adding titles and other preferences takes forever so it would be a lot of work just to find out it's not viable.

Today I got this sad email from MotionElements about their subscription model:

"What is the new Marketplace Subscription Plan?

It is a plan structured to help our users save time and prevent decision fatigue.

    From Oct 2019, we will offer only 1 Subscription Plan to users
    It is an All-Media-Types-in-One Subscription that encourages cross media type use
    Annual payment only
    With unlimited downloads
    With these changes, we want to make it easier for the buyer to find our product useful.

Artists will receive 50% of the net revenue as always. Of the revenue collected from each subscriber, we will apportion to our artists in as fair a method as possible, using the subscriber allotment method.



In other words, another agency succumbs to market pressure and goes for the subscription route. So you can forget about MotionElements.

« Reply #10 on: August 22, 2019, 10:45 »
+2
Thanks for that, I didn't get that email as I just set up an account there and barely started uploading.

I guess it's bankruptcy for me, can't make a living selling video anymore, Pond5 will no doubt be going to the same model, Videoblocks went, now motion elements and pond5 has been scamming like never before this summer in an effort to drive our sales down to a complete stop and the next logical step for them will be to adopt this model.

Remember how videoblocks took a few months to wind down sales before announcing the marketplace is closing?, same is happening with pond5 since April.

Pond5 is just being extremely nasty and dirty about it, a hidden price cap on search results, now 75% discounts on sales as of this morning (from posts in their forums), and commission cuts, the goal there is clearly not to pay out anymore money to contributors and made go with the revenue from their membership content, Reuters/Newsflare content and other content they own.

We are done folks unless you can make a living off of Shutterstock and I suspect they too will adopt the subscription format soon, like with music streaming when it destroyed the good living for many bands and artists, you can't compete and try and sell CD's for $15 a piece when the customer can pay $10/month for millions of songs.

You can't compete as an individual/agency selling video for even $10/clip when other agencies are giving you millions of clips for $29 and $39/month. 

Just wish I had seen this coming and gotten out a year or two ago.

« Reply #11 on: August 22, 2019, 12:48 »
+1
Quite discouraging. Perhaps the next big thing is going local (again).

Thanks for that, I didn't get that email as I just set up an account there and barely started uploading.

I guess it's bankruptcy for me, can't make a living selling video anymore, Pond5 will no doubt be going to the same model, Videoblocks went, now motion elements and pond5 has been scamming like never before this summer in an effort to drive our sales down to a complete stop and the next logical step for them will be to adopt this model.

Remember how videoblocks took a few months to wind down sales before announcing the marketplace is closing?, same is happening with pond5 since April.

Pond5 is just being extremely nasty and dirty about it, a hidden price cap on search results, now 75% discounts on sales as of this morning (from posts in their forums), and commission cuts, the goal there is clearly not to pay out anymore money to contributors and made go with the revenue from their membership content, Reuters/Newsflare content and other content they own.

We are done folks unless you can make a living off of Shutterstock and I suspect they too will adopt the subscription format soon, like with music streaming when it destroyed the good living for many bands and artists, you can't compete and try and sell CD's for $15 a piece when the customer can pay $10/month for millions of songs.

You can't compete as an individual/agency selling video for even $10/clip when other agencies are giving you millions of clips for $29 and $39/month. 

Just wish I had seen this coming and gotten out a year or two ago.

« Reply #12 on: August 26, 2019, 09:46 »
0
Yup, got the email too. Sounds like an invitation :P

"Come over, we should jam sometime..."

Quote
This Agreement shall be construed in accordance with the copyright laws of the United States and the laws of the State of New York without regard to its choice of law provisions. The United Nations Convention on Contracts for the International Sale of Goods does not govern this Agreement. The rights granted herein, any upload or submission of Content, access to and use of the Website and the entering into this Agreement will be deemed to take place in the United States.

Any dispute regarding or arising from this Agreement (including any upload, submission, distribution or use of Content, any license granted by or to us or access to or use of the Website), that the parties are unable to resolve after good faith negotiations will be submitted to binding, confidential arbitration carried out under the applicable dispute resolution rules and procedures of the Judicial Arbitration and Mediation Service ("JAMS"). The arbitration proceeding will be conducted in New York City in English by a single arbitrator, who must be familiar with stock media licensing and copyright law, and all documentation shall be presented and filed in English. Each party will contribute equally to the arbitrator and arbitration forum fees and expenses, and, except as expressly provided herein, will bear its own legal costs and fees. The decision of the arbitrator will be final and binding on the parties, and judgment may be entered on the arbitration award and enforced by any court of competent jurisdiction. Nothing in this section shall be deemed to prohibit or restrict our right to seek injunctive relief from a court of competent jurisdiction in the case of any actual or threatened breach of any provision of this Agreement that would cause irreparable harm. The parties agree that, notwithstanding any otherwise applicable statute of limitation, any arbitration proceeding shall be commenced within two (2) years of the acts, events or occurrences giving rise to the claim.


« Reply #13 on: August 26, 2019, 09:51 »
+1
Read that but I don't know anything on audio.

Quote
For Music Tracks and Sound Effects, your share of Net License Revenue will be 35%

This time I will c/p the whole text for the next "update" :)

Not sure if I remember those words previously:

Quote
We may also exclude or deduct any of the following from the calculation of the Net License Revenue and the net amount payable to you: (A) taxes or other withholdings paid by the customer or that we determine are required by applicable law; (B) refunds, chargebacks and uncollectible sums; and (C) fees, charges and/or costs payable to or deducted by financial institutions for the processing of any credit card, debit card, e-check or alternative payment method and/or currency conversion for payments received by us or paid to you in a currency other than U.S. Dollars.

Edit

plus this

Quote
In cases where a customer purchases an Extended License, we will deduct from Net License Revenue and retain a portion of the additional fees charged for the Extended License as a "Legal Guarantee Fee" to cover our self-insurance costs as determined by us in our sole discretion for providing the customer with additional legal protection. For avoidance of doubt, you will be paid your share of the net Extended License fees collected by us after such Legal Guarantee Fee is deducted. Refer to the Website Contributor Portal Payout Overview for further details.

I have a copy of the old license (as of Jan 2018).

These portions are identical (nothing changed, it was already there).

« Reply #14 on: August 26, 2019, 10:07 »
0
@SuperPhoto, thank you for that :)

« Reply #15 on: August 26, 2019, 13:33 »
+2
If they all go the subs route, then their supply will dry up.

Pond5 has the biggest library and the best choice by far.

If they go all subs, it will work for a while, maybe enough to sell to a naive buyer...but then it will fall like a stone.

Anyone who understands good quality productions will leave, another marketplace will come up.

It will die like istock died.

But it might still make the current owners very rich.....so...who cares about the future...

Pond5 really used to have absolutely excellent communication with their artists.

And communication always works 360 degrees. I am sure they were also fantastic at working with their customers.

There is so much content missing in the stock video industry, I really dont understand why so many places are trying to close down?

Low seller agencies get very little content.

Customers will always drift to the plattform with the largest choice.
« Last Edit: August 26, 2019, 19:16 by cobalt »

« Reply #16 on: August 26, 2019, 14:12 »
+2


There is so much content missing in the stock video industry, I really dont understand why so many places are trying to close down?



because this is the only way this little agencies can run to attract buyers...subs plan...it's up to us(artists) to support them or not...if we don't suuport them be sure big agencies won't run the race to the bottom but if artists keep support them you'll see big agencies do the same...
the last actions taken by pond5 explain it very well...

« Reply #17 on: August 27, 2019, 05:58 »
+2
Actually, in a way its funny.

It's something I've seen happen in many other industries with 'content generation', although seemed to happen a lot 'slower' in this industry.

Basically - they build it up (attractive rates) - then once they reach a critical threshold (whatever that is) - they then slash commissions.

While a % of people will leave/remove portfolios/etc - a large % will stay because of various reasons (apathetic, something is better than nothing, not knowing any better, forget about their account, etc, etc).

And then the company "coasts" off that income for a long time (super low overhead, super high profits).

But then - that means there is an opportunity for a "new guy" to pop up with brand new super attractive rates, etc that will be good for at least a few years to get market share from these other guys.

So. I'd pay attention/look for this new guy.

If you can figure out who the new player is, who is aggressive, wants to build up their site, the one that is hungry, etc - then I'd support them. Because they will be the next "big" player that you will be able to benefit (profit wise) for the next few years.

« Reply #18 on: August 27, 2019, 15:43 »
+2


But then - that means there is an opportunity for a "new guy" to pop up with brand new super attractive rates, etc that will be good for at least a few years to get market share from these other guys.



we don't need a new guy or player whatever you want to call it...we need agencies that pay us a decent amount of money...and it's not going to happen with subscription plan and neither with new players that to attract buyers usually lower the price and our revenue...we've seen this movie before...


 

Related Topics

  Subject / Started by Replies Last post
10 Replies
4472 Views
Last post July 29, 2006, 13:36
by madelaide
5 Replies
2979 Views
Last post February 07, 2007, 11:24
by CJPhoto
123 agreement

Started by dbvirago 123RF

10 Replies
4605 Views
Last post March 29, 2012, 17:59
by dbvirago
2 Replies
1329 Views
Last post August 14, 2013, 13:52
by luissantos84
1 Replies
725 Views
Last post January 04, 2019, 15:32
by cascoly

Sponsors

Microstock Poll Results