Agency Based Discussion > Pond5

What's new on the Agreement?

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georgep7:
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?

?

trek:
Not sure if it's spelled out in the new agreement but: The royalty rate for nonexclusive sound fx was recently lowered to 35%. 

georgep7:
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%
--- End quote ---

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.
--- End quote ---

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.
--- End quote ---

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

--------

Dear Artist,
We’re deeply proud of the quality, depth, and breadth of our marketplace—thank 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:
So they cut royalty rates on video and sound files.  :(

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