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Messages - Jo Ann Snover
4901
« on: December 12, 2012, 20:51 »
Great advice, thanks. Is there a similar high-sales period at SS in Sep-Nov? I ask because my ark is not yet even half-built.
Yes. March was a BME for me this year followed by massive, and I do mean massive, BME's in both October and November.
SS have already projected revenues to rise to $160M+ for 2012 (up from $121M in 2011) and then to over $200M in 2013. Looking at my graph, which pretty much matches SS's growth, I'm anticipating a few more BME's next year. Oh yes.
Trust me, SS is a different game to what you're used to. The graph of sales is the same shape as the IS graphs that folk have been posting __ except that it's a mirror image.
That doesn't seem to be the experience of many exclusives that have left, most or all had massive drops income and have slowly (after a year or more) worked their way up to near what they were at before. I don't think the picture is as rosy as you paint it but if you have some examples to counter this I would love to see them.
I don't know what you're hoping to see, but as many, many diamond and up iStock exclusives were saying their Nov 2012 earnings were 50% of what they were in November 2010, I think being where I was in 2010 is not bad. SS had BMEs in October and November and unless iStock falls even further in the toilet next year, continued strength at SS may mean some growth over 2012 numbers. I'll take reversing the slide over being sad over a 50% drop any day. You can take it as not rosy because I'm not above 2010, but I'd rather see the positive trends and how it could have been me in that -50% camp.
4902
« on: December 12, 2012, 20:41 »
RR is certainly not setting a new low in communications skills, but she still managed the defensive whine that suggested most of the problems are not her fault or Getty's responsibility. She started with the "you need to help by being nicer" insult and ended with the transparently ridiculous "sales are dropping 'cause there's too much content" coupled with the notion that she had real work to do so wasn't going to continue communicating.
I thought the majority of posts in that thread were (a) touching (b) sad and (c) a goldmine of business intelligence handed to her on a platter which she apparently has just turned her back on to go do her job...
You couldn't make this stuff up.
It does remind be a bit of the last days of the US election where the soon-to-be-losing camp was convinced it was winning and just would not look at any of the poll data that predicted accurately how the outcome went. That is giving RR the benefit of the doubt that she actually believes the stuff she's saying.
Do other people remember past "state of the company" speeches where management talked about how the company was growing - not "meeting expectations"? If you're not using the word growing, I think it's because you're not.
4903
« on: December 12, 2012, 15:21 »
I can not say with certainty, but I believe there is an automated pre-screening that images go through and some - for reasons that have nothing to do with the image actually being out of focus - fail that test.
It's irritating, but has happened enough (on images accepted everywhere else; and I really do know what is in focus and what isn't) that if a downsize doesn't do it I'll submit a collage of several shots and so far that's always been accepted.
Given how large my images are, a collection of smaller ones isn't the worst thing for SS to have - and the full size is for sale elsewhere if a buyer needs it
4904
« on: December 12, 2012, 00:30 »
If you right click on an image, don't you see something like "Copy image URL"? I'm using Chrome on a Mac and I've fogotten the exact wording on the PC, bu there will be something similar. You want the JPEG, not the HTML
Don't post 14. Think about them and choose a maximum of 6 for folks here to look at. Self editing is hard, but really important.
4905
« on: December 11, 2012, 21:12 »
This best match change is probably going on for some time before its done. I searched an area where myself and Lisa were totally dominant and before we use to have at least 3 pics a piece on page one. Now they are pushed way back and in favour of many pics which are not only irrelevant but also badly keyworded and ONLY because they are shot by exclusives, I mean it dont even show what I searched for. As I undestood the important thing here was to sort of "save" the company, etc. quality and commercial value should get prefferance, etc? but no. As far as I can see, they are still pushing lots of inferior, irrelevant material way up only because the file carries a crown. Bad call from somebody who wants to sort out a company.
Having said this the best match change might still be under way.
This crown took a hit from the best match tweak today. Several of my files sank several pages in the search order and not a single sale since the 'fix'.
Other than the Agency junk that's clogging up some searches, I think a number of groups took a hit. I have a grand total of 7 sales, all small or XS which is just a ridiculous Tuesday. Sorry you got wiped out temporarily. Once you've experienced these cliff diving episodes, you "get" why people get worked up about playing games with best match order... The searches still don't look right, although you can see some minor changes from yesterday (I don't monitor them regularly but had been looking at the examples in the best match thread in the last few days).
4906
« on: December 11, 2012, 21:06 »
I remember that thread, your ire was mine as well. In re-reading it it made me think, what the heck ever happened to pastorscott? He was so vocal and now I realise he has not been posting for a really long time. Do you know if he was banned as well?
I don't know. He's not around any of the groups of iStockers in off site forums anywhere that I "see" him. Even those not banned have generally figured that they should save their breath to cool their porridge, so to speak. Until Rebecca decided to try and stir the pot, anything said in the forums was just wasted.
4907
« on: December 11, 2012, 20:58 »
As a tangent, here's what iStockLawyer has to say about the currency hedging: http://www.istockphoto.com/forum_messages.php?threadid=349689&page=1#post6797809
I think the lawyer is trying to say that because they've been doing things that way all along, changing the actual words in the ASA and rate schedule wasn't really a change and thus didn't need 30 days notice. Fancy footwork but way too slippery. I also don't buy all the nonsense about currency hedging. They already pay us at varying rates per credit. The system needs to track the actual USD amount per credit at the point the customer purchases and then that is used when paying us. Otherwise, in addition to keeping extra on the conversion, they're playing games over the course of the period the credits are held, potentially paying us less (whatever that week's conversion rate is). They also need to permit purchases in USD from wherever and let the customer handle paying the currency conversion fees if they want to do it that way. Otherwise it seems they're trying to turn this into another source of fees for themselves.
4908
« on: December 11, 2012, 16:47 »
Couldnt it be that the 34.00 is not the correct price to start with as she keeps going on about the decimals not being correct
From her note this morning: "The file download for $34.00 for Dec 4th is correct in the royalty payment."
4909
« on: December 11, 2012, 16:45 »
The threads on errors in subscription calculations were here here and hereHere are the links to the discussions about floating point (it's a very long thread so these are to the posts that talk about calculations - one two three four five
4910
« on: December 11, 2012, 15:56 »
Here's the history:
Dec 4 2012
On the subject of stupid questions ( ) I'll ask another one. I wonder if iStock is calculating our royalties correctly - or alternatively, how they came up with $5.80 as my royalty on an XXXL sale this morning?
I get 17% royalty
That size (Photo +) is 20 credits or $34. If it was a cash sale I would have received $5.78
If it's credits, the most expensive credit pack (12) is $1.67 per credit. Working out what the buyer paid per credit given my $5.80, it's $34.12 (.1176 without rounding) or $1.70 per credit. I thought they were ripping us off on foreign currency transactions and paying on a dollar basis and pocketing any extra, so I don't think it can be a buyer outside the US.
I haven't asked contributor relations as I generally get useless answers that it's correct and because of privacy they can't explain anything. It might seem insane to complain about a number being too high, but when things aren't accurate, that's the worrying part, not whether they're over or under.
Dec 11 2012
So I received a reply from contributor relations this morning about my query on the $5.80 royalty. The person's math skills are apparently hopeless as the reply - which said my royalty was correct - included the following:
"The file was purchase at the $19.00 price Point (USD) not at the $34.00 price point and you have received the 17% of that amount."
I received $5.80 and 17% of $19.00 is $3.23, which I pointed out in my reply. I had mentioned the $34 price point as it was the maximum possible you could pay for that file and yet even that wasn't high enough to make a $5.80 royalty - a point apparently lost on the rep.
I'll post if I get any further response - it's like wading through molasses dealing with them...
Dec 11 2012
After several more exchanges with my friendly support representative (and it's nice that the responses are swift), I'm in some insane Alice-in-Wonderland situation that leaves me wondering if we have ever been paid correctly for anything at iStock.
So, after establishing that the rep was looking at the wrong sale and that the one I was asking about was indeed a cash sale for $34, the rep insists that $5.80 is right for a 17% royalty. I write back saying that 17% of $34 is $5.78 and that wrong is wrong, even if it happens to be in my favor this time. I then get a reply including the following:
"Due to the complexity of our royalty calculation we do not use the two decimal calculations for royalties therefore you will see a mathematical round up or down of your calculation as your home calculator does run on a two decimal system."
I think what she's referring to is that they use floats not integers in their software - there was an earlier forum rant about how wrong they were when they were found to be underpaying on subscription sales.
Here's what I sent back to them:
"Thank you for your answer, but that doesn't correspond to the royalties that I see all the time - just look at all the other royalties for this file.
There are royalties for 52 cents, $1.37, $5.52 - I could go on, but I think you get the point. There are many, many royalties that are not rounded up to the nearest 10 cent amount.
And there is no rounding required to calculate 17% of $34.00 - it comes to $5.78 exactly - no fractional cents.
There is something wrong here and possibly the software engineers need to look at it. They are calculating the royalty on $34.00 incorrectly, albeit in my favor in this case."
I received back a reply:
"They are not being rounded by the ten cents( you are still basing your calculations on a two decimal system which is rounding to the ten cents.)
I have confirmed with our Dev team that the royalty calculations are being done correctly."
4911
« on: December 11, 2012, 15:53 »
I had posted about this topic in the thread about Nov 14 stats, but it really needs to be separate.
Bottom line is that iStock is using floating point math to calculate royalties and the numbers are off. The particular case I noticed I was getting paid 2 cents too much, but as contributor relations acknowledged, the numbers can be rounded up or down, so we could just as easily be shortchanged in transactions and not notice it.
I'll try and dig up the old thread on this from the istock forums a year or two ago. It was underpaying subscription royalties because they rounded something down. People pointed out then that they were doing it wrong. The solution as I recall was to round up for the cases people complained about and continue as before.
What CR refers to below that "...we do not use the two decimal calculations for royalties..." is their way of saying that they're using floats not integers to calculate the money. I've seen lots of stuff written about the fact that you need to use scaled integers rather than floating point to handle money calculations, but this isn't my area of expertise.
What I do know is that there a multitude of banks and businesses that can handle this accurately and iStock cannot. Their royalty payment to me was off by 2 cents - in this case two extra cents, but it could just as easily have gone the other way and been under. CR has confirmed that they think this is correct and have checked with the developers to verify that. And this case isn't a round up or down if you use integers - 17% of $34.00 comes out to $5.78 exactly.
Perhaps in the face of all the other problems, millions of potentially incorrect royalty payments seem like small potatoes, but I think it's a very big deal and something they need to fix.
4912
« on: December 11, 2012, 15:01 »
Deleted. I'm making a new topic for this
4913
« on: December 11, 2012, 13:10 »
I have had 0 sales today - that doesn't happen, even on weekends. Feast and famine - enjoy it while it lasts  Edited to add that 3 have shown up, but that's still a big drop from even the new "normal-lite"
4914
« on: December 11, 2012, 12:22 »
Welcome.
If you have portfolios on any of the microstock sites, you can put links to them in your forum profile (Profile menu, Forum Profile item). That way people can get to "know" you a little bit via your portfolio
4915
« on: December 11, 2012, 12:12 »
Deleted. I'm making a new topic for this
4916
« on: December 11, 2012, 12:03 »
Interesting listening. Thanks for posting - I do read the Guardian online but had missed that.
The comment about volume, not unique content, was their differentiator was interesting. As was the flywheel comment about how buyer searches and contributors noticing trends via sales and responding through more uploads to what they saw, in real time, was selling.
I think the idea that if you can get search right, you can have a huge collection and still present buyers with what they're looking for - no wading through pages of results required - has merit. I do a fair number of Google searches (not for images) and it's uncanny how often I get the drop down list finishing my sentence for me even when it's not a search I've done before. If you get the volume of searches high enough, the data you gather really helps you do smart things.
So you build the smarts from searches and volume, not from CVs and tight editorial control. It may be that the wheels will spin off the wagon at some point, but it does seem like it has the potential to be a real shift in how agencies run things. Previously it was just making a digital version of what they'd been doing for ages with slides
4917
« on: December 11, 2012, 01:17 »
I was browsing a web site this evening and a Thinkstock ad was on it "Think ahead" with a 15% off deal on image packs through the end of December - 100 and 250 packs I looked at the credit bundles you can buy on iStock and although there isn't an exact match on prices, the 250 image pack at Thinkstock is $1,499 ($1274 after the 15% discount) and 1,000 credits at iStock is $1,420 If you look at a regular indie XXXL file at 18 credits, you can get 55 of those from your 1,000 credit bundle but 250 - five times as many - from Thinkstock. Even if you step down to large at iStock to save credits, you get 100 vs. 250 at Thinkstock. If you wanted lots of 1 credit blog size images, that might take you to iStock to get the better deal... The only good news is that we don't pay for the discounts at Thinkstock - we get a flat rate for each bundle or subscription sale
4918
« on: December 10, 2012, 21:48 »
I sent a note to support this afternoon because I had an XXL sale today with an 87.5 cent royalty. That means the buyer paid 35 cents a credit. I looked back over November and December XXL (JPEG) sales and they were all within the $1.50 to $2.50 range.
I'll post when I get a reply, but you might want to check out any abnormally low numbers on XXL sales in your own records. I find it hard to imagine that the error they found and fixed last time is the only such error.
4919
« on: December 10, 2012, 21:45 »
I think the problem with talking to private equity folks is that they're only in it for the short haul and only to take money out of the business. Most of the things people want done (and that do need to be done) are for the long term.
Asking private equity guys to spend money isn't going to be of interest to them unless they can see a return on that expense in 3 years. Even if they have to cut their losses, I think they'd rather do that than sink in more cash. It sucks but they have no interest in the business other than as a cash generator.
4920
« on: December 10, 2012, 21:42 »
I don't want IS to fail - I make good money from them each month. I would like them to fix their busted site, drop the RC system and scrap all the Getty zombie images on the site - with a decent, working site and 20% royalties things might look pretty decent as a #2 earner in the monthly sweepstakes. I don't submit to 18 agencies and I can't imagine there's enough return from most of those to make it worth it. However, no exclusive has an easy year ahead of them if they switch to being independent - there will be a temporary nosedive of income while sales pick up elsewhere. And as for not wanting to have to compete with exclusives elsewhere, I'm not worried about that. I'm already competing with them at iStock and would just do the same elsewhere. I think it might even pull more buyers to an agency like Shutterstock if there were some great new work there from former exclusives. Rising tide lifts all boats thus benefitting me too. Come for the newbies and spend a few dollars on my stuff as well
4921
« on: December 10, 2012, 20:44 »
For the sad woman with carrots: "But I really thought it'd get the kids to eat their veggies..." The cabbage is even more creepy. If anyone remembers Mr. McGregor from Peter Rabbit, if Beatrix Potter had gone in for darker visuals, it looks like something McGregor might plant in his garden to get back at Peter Rabbit
4922
« on: December 10, 2012, 17:53 »
I looked at my stats just now and the subs tap has been turned on and credit sales turned off (for me at least) in the grand rotation of things that DT appears to pursue.
16 of my last 20 sales were subs...
4923
« on: December 10, 2012, 16:55 »
If you can't get better results than "Auto" then you really shouldn't be using Photoshop - stick with iPhoto or one of the push-button image-fixer-uppers. Or use Lightroom for basic tone, contrast and white balance and leave the image alone.
Photoshop isn't easy to learn, but it's worth the effort and there's no substitute for spending a lot of time with a lot of images so you can control the results you get. You don't have a single "right" way to do anything, but you do need to look at your image. Why spend a ton of money on a program to let you tinker with all the details and then click "Auto"? Makes no sense.
4924
« on: December 10, 2012, 16:00 »
If Envato had been so kind as to follow your schedule with crediting to me the earnings from the bundle, that might have been a great idea.
But they say it takes 10 days to figure out how much to pay me (bundle sales were Nov 13-20) and then credit the earnings to me conveniently after the cutoff for the month...
4925
« on: December 10, 2012, 12:18 »
No idea what club that would be...
Many of the sites will ask for a property release if somewhere looks like it's private property vs. public. They have become much more conservative - wanting to avoid any legal issues. You can try without a release, making sure there is no identifying anything that could get you into legal difficulties, and live with the fact that some sites will reject without a release.
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