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Author Topic: How Oringer Could Improve Creator Compensation  (Read 13438 times)

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« on: December 20, 2020, 11:50 »
+1
If Jon Oringer of Shutterstock (https://www.Shutterstock.com) donated his annual salary of $4,598,580 to image creators who produce the products Shutterstock licenses, and divided it among creators based on the number of images licensed, how would that benefit image creators?

In the last 4 quarters Shutterstock has licensed 181,900,000 image uses at an average price of $3.55 each. If we divide 181,900,000 into the $4,598,580 that would give us $0.0252 (about two-and-one-half cents) per image licensed. Not very much, but pennies count. The average image creators only gets a royalty of about 26% of the $3.55 or $0.923 (less than $1.00) for each image licensed. An additional $0.0252 raises the royalty to $0.9482 (almost $0.95), almost a 27% royalty rather than 26%.

But, of course, Oringer is entitled to compensation to support himself and his family and for the work he has done over the years to build Shutterstock.

On the other hand, instead of receiving a salary could he sell some stock.

As of 1 December 2020 he owned at least 13,602,824 units of Shutterstock Inc (https://wallmine.com/nyse/sstk ) stock. Todays price for that stock is about $68.40 per share so the value of his stock is $930,433,162 -- almost $1 billion. 

Oringer became the first photography billionaire in 2013, but over the last few year Shutterstocks share price has faltered from time to time. At one point the share value was down to paulry $600,000,000. How could anyone survive on so little money?

Nevertheless, thanks to the 2020 economic crisis, as of 1 December 2020, his Net Worth was estimated to be in the range $1.2 Billion dollars. Over the last 7 years he sold SSTK stock worth over $271,824,319. See here (https://wallmine.com/nyse/sstk/insider-trading ) Does he really need an additional $4,598,580 compensation? Maybe he could even give up twice or 3 times as much!

Currently there are about 370,000,000 million images in the Shutterstock collection, Thus, with 181,900,000 images licensed annually the average image creator has about one image licensed for every two images in the collection. There are about 650,000 contributors, Thus, the average contributor has about 569 images in the collection, licenses right to about 278 images annually and earns about $256.59.

Oringers annual salary (not counting stock appreciation) is 17,922 times the average annual earnings of Shutterstock contributors (workers). According the U.S. government statistics, since 1978 the average CEOs compensation has grown 940% while typical worker compensation has only risen 12%, and not kept up with inflation. In 1965 the ratio of CEO-to-worker compensation was about 20-to-1. By 2018 that ratio had grown to 278-to-1.

Of course, there are a few contributors who have many more images-in-the-collection, a much higher ration of images-licensed to images-in-the-collection and earn a lot more annually.
For them an additional $0.0252 per image licensed might be significant.

It is also worth noting that during the last year (https://www.selling-stock.com/Article/shutterstock-q3-2020-financial-results ) Shutterstock has grown its collection by 18%, saw a decline of 5.5% in the number of images licensed and about an 8% decline in revenue paid image creators.

In fairness to Oringer, this is how capitalism in the United States works. It is not unique to the photography industry. The person who comes up with a marketable product, or marketing idea, can benefit hugely compared to what those who put in time, energy and money receive. This is particularly true if the product costs the seller nothing to produce, and the seller can simply compensate the producer with a small percentage of revenue generated if and when the product sells.

https://www.selling-stock.com/Article/whats-fair-compensation

https://www.selling-stock.com/Article/shutterstock-public-offering


SpaceStockFootage

  • Space, Sci-Fi and Astronomy Related Stock Footage

« Reply #1 on: December 20, 2020, 23:22 »
+13

Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #2 on: December 21, 2020, 07:04 »
+2
If Jon Oringer of Shutterstock, donated his annual salary of $4,598,580 to image creators who produce the products Shutterstock licenses, and divided it among creators based on the number of images licensed, how would that benefit image creators?

Waiting for the 4th Q report, but I have to ask, that would mean we'd get 12 cents a download minimum, instead of 10c a download. Well that's exciting::)

As for Jon donating his pay to us?



Didn't he used to take $1 a year as pay? When did that change?

SpaceStockFootage

  • Space, Sci-Fi and Astronomy Related Stock Footage

« Reply #3 on: December 21, 2020, 08:39 »
+1
If Jon Oringer of Shutterstock, donated his annual salary of $4,598,580 to image creators who produce the products Shutterstock licenses, and divided it among creators based on the number of images licensed, how would that benefit image creators?

Waiting for the 4th Q report, but I have to ask, that would mean we'd get 12 cents a download minimum, instead of 10c a download. Well that's exciting::)

As for Jon donating his pay to us?



Didn't he used to take $1 a year as pay? When did that change?

He got $1 a year, but stocks equivalent to $4,598,580 every year as well, as a perk. Not sure how or if that's changed since he's no longer CEO.

« Reply #4 on: December 21, 2020, 10:55 »
0
If the average price for SS sells was 3.55 per image. What was your average per sale ?  Maybe 5% of 3.55......????

Horizon

    This user is banned.
« Reply #5 on: December 21, 2020, 16:18 »
+5
Believe it or not but people like Oringer, Zuckerburg etc etc are lefties and now with a new leftie President???  lefties have always become rich on other peoples work or money! so Jim how do you propose to get somebody like Oringer to do this?

SpaceStockFootage

  • Space, Sci-Fi and Astronomy Related Stock Footage

« Reply #6 on: December 21, 2020, 17:21 »
+8
Believe it or not but people like Oringer, Zuckerburg etc etc are lefties and now with a new leftie President???  lefties have always become rich on other peoples work or money! so Jim how do you propose to get somebody like Oringer to do this?

There's so much wrong with this paragraph that I don't know where to start. But for now... I was always under the impression that 'righties' weren't a big fan of 'handouts', so I'm guessing you wouldn't be interested in this anyway?

« Reply #7 on: December 21, 2020, 18:06 »
+2
Believe it or not but people like Oringer, Zuckerburg etc etc are lefties and now with a new leftie President???  lefties have always become rich on other peoples work or money! so Jim how do you propose to get somebody like Oringer to do this?

There's so much wrong with this paragraph that I don't know where to start. But for now... I was always under the impression that 'righties' weren't a big fan of 'handouts', so I'm guessing you wouldn't be interested in this anyway?

I live in Venezuela, which is a socialist country, almost communist, and I can assure you that the people who came to the government and have already been in power for 21 years came as almost beggars and now have great fortunes.

Tenebroso

« Reply #8 on: December 21, 2020, 18:14 »
+7
Believe it or not but people like Oringer, Zuckerburg etc etc are lefties and now with a new leftie President???  lefties have always become rich on other peoples work or money! so Jim how do you propose to get somebody like Oringer to do this?

There's so much wrong with this paragraph that I don't know where to start. But for now... I was always under the impression that 'righties' weren't a big fan of 'handouts', so I'm guessing you wouldn't be interested in this anyway?

I live in Venezuela, which is a socialist country, almost communist, and I can assure you that the people who came to the government and have already been in power for 21 years came as almost beggars and now have great fortunes.

Saludos Alexanerssr


Authoritarianisms do not matter whether they are from any side of the arc of political ideas. Any authoritarianism is a dictatorship. The nomenclature with which dictators call themselves is independent of the pain, tragedy and blood they inflict on the people.

gillian vann

  • *Gillian*
« Reply #9 on: December 21, 2020, 18:27 »
+5
Believe it or not but people like Oringer, Zuckerburg etc etc are lefties and now with a new leftie President???  lefties have always become rich on other peoples work or money! so Jim how do you propose to get somebody like Oringer to do this?

There's so much wrong with this paragraph that I don't know where to start. But for now... I was always under the impression that 'righties' weren't a big fan of 'handouts', so I'm guessing you wouldn't be interested in this anyway?
live in Venezuela, which is a socialist country, almost communist, and I can assure you that the people who came to the government and have already been in power for 21 years came as almost .beggars and now have great fortunes.

Saludos Alexanerssr


Authoritarianisms do not matter whether they are from any side of the arc of political ideas. Any authoritarianism is a dictatorship. The nomenclature with which dictators call themselves is independent of the pain, tragedy and blood they inflict on the people.

I think we can all find common ground in acknowledging the disappointment we all feel in our governments, left or right.  I personally wouldn't proudly wave a flag for either side.

« Reply #10 on: December 21, 2020, 19:48 »
0
Believe it or not but people like Oringer, Zuckerburg etc etc are lefties and now with a new leftie President???  lefties have always become rich on other peoples work or money! so Jim how do you propose to get somebody like Oringer to do this?

There's so much wrong with this paragraph that I don't know where to start. But for now... I was always under the impression that 'righties' weren't a big fan of 'handouts', so I'm guessing you wouldn't be interested in this anyway?

I live in Venezuela, which is a socialist country, almost communist, and I can assure you that the people who came to the government and have already been in power for 21 years came as almost beggars and now have great fortunes.

Saludos Alexanerssr


Authoritarianisms do not matter whether they are from any side of the arc of political ideas. Any authoritarianism is a dictatorship. The nomenclature with which dictators call themselves is independent of the pain, tragedy and blood they inflict on the people.

Hola Tenebroso, Saludos! Espero que est bien!

« Reply #11 on: December 21, 2020, 19:58 »
0
Believe it or not but people like Oringer, Zuckerburg etc etc are lefties and now with a new leftie President???  lefties have always become rich on other peoples work or money! so Jim how do you propose to get somebody like Oringer to do this?

There's so much wrong with this paragraph that I don't know where to start. But for now... I was always under the impression that 'righties' weren't a big fan of 'handouts', so I'm guessing you wouldn't be interested in this anyway?
live in Venezuela, which is a socialist country, almost communist, and I can assure you that the people who came to the government and have already been in power for 21 years came as almost .beggars and now have great fortunes.

Saludos Alexanerssr


Authoritarianisms do not matter whether they are from any side of the arc of political ideas. Any authoritarianism is a dictatorship. The nomenclature with which dictators call themselves is independent of the pain, tragedy and blood they inflict on the people.


I think we can all find common ground in acknowledging the disappointment we all feel in our governments, left or right.  I personally wouldn't proudly wave a flag for either side.
I agree with you, I am neither right nor left, neither feminist nor sexist, nor lgbt or any of those things that are in fashion now. I am just an ordinary person.

In my country these people have been governing for 21 years, they have won the odd election fairly but most have been cheated. At first they used the voting system of the Smartmatic company, whose founder is a Venezuelan engineer. With that company many elections were held which were fraudulent.

Venezuela is on the way to having a dictatorship like Cuba, since I don't know of right-wing dictatorships that have lasted as long as those of the left.
« Last Edit: December 21, 2020, 20:12 by alexandersr »

farbled

« Reply #12 on: December 21, 2020, 20:13 »
+1
In my country these people have been governing for 21 years, they have won the odd election fairly but most have been cheated. At first they used the voting system of the Smartmatic company, whose founder is a Venezuelan engineer. With that company many elections were held which were fraudulent. Here is an article with something else about the Smartmatic company.

I live in a "social democratic" country (Canada, basically a capitalist country with socialist policy, but that is debatable depending on where on the spectrum you are) and in our case, elections are simple.

We generally have a choice between one of two parties which largely do the exact same things until we throw them out by electing the other party. Rinse and repeat every 4-8 years.  Keeps the sign painters employed at least. We have the same polarization effect trying to take root here that we see in the US, but so far its not quite so apparent.

Tenebroso

« Reply #13 on: December 21, 2020, 20:14 »
+2


Hola Tenebroso, Saludos! Espero que est bien!


Todo bien, gracias, igualmente.


You already know that we lived 40 years of fascist dictatorship.


I hope to soon meet another reality in your country. My sincere support and solidarity. Hopefully, it will be resolved soon. You are a strong country, you will get ahead. I want it to be solved as soon as possible and recover your normality. They are many years of pain. Luck.

Noedelhap

  • www.colincramm.com

« Reply #14 on: December 22, 2020, 06:23 »
+3
Believe it or not but people like Oringer, Zuckerburg etc etc are lefties and now with a new leftie President???  lefties have always become rich on other peoples work or money! so Jim how do you propose to get somebody like Oringer to do this?

I guess Trump is a leftie too then.

Noedelhap

  • www.colincramm.com

« Reply #15 on: December 22, 2020, 06:28 »
+4
I guess we can agree on the fact that no matter from which side (left of right) or how fairly someone came into power, power almost always corrupts. We've had left-wing dictators, right-wing dictators, and anything inbetween. Neither side is inherently good or bad. However, anything that becomes extreme, is in a sense, bad for the people, whether it's on the left or right side of the spectrum.
« Last Edit: December 22, 2020, 06:30 by Noedelhap »

Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #16 on: December 22, 2020, 09:09 »
+2

I think we can all find common ground in acknowledging the disappointment we all feel in our governments, left or right.  I personally wouldn't proudly wave a flag for either side.

Thank You, I'm so tired of people taking sides when they don't see that politicians are only interested in their own power and control. Oh and of course pandering to the voters by lying about what they will do for us.




« Reply #17 on: December 22, 2020, 10:53 »
0
I guess we can agree on the fact that no matter from which side (left of right) or how fairly someone came into power, power almost always corrupts. We've had left-wing dictators, right-wing dictators, and anything inbetween. Neither side is inherently good or bad. However, anything that becomes extreme, is in a sense, bad for the people, whether it's on the left or right side of the spectrum.
I feel that theres never been a time when people have felt the need to support "their" side no matter what. In the real world of people I've met and some I've known very well sometimes they are right sometimes not sometimes I agree with them others not. If I thought otherwise it would be idolatory.

« Reply #18 on: December 22, 2020, 14:48 »
+5
...  lefties have always become rich on other peoples work or money! ...

ROFL - as opposed to rightwing senators who used confidential, insider info to buy stocks to profit from the covid pandemic! or a tax cut that benefits the top 1%

Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #19 on: December 23, 2020, 13:19 »
0
...  lefties have always become rich on other peoples work or money! ...

ROFL - as opposed to rightwing senators who used confidential, insider info to buy stocks to profit from the covid pandemic! or a tax cut that benefits the top 1%

Because he wanted to get more of the left votes from the wealthy, who supported people like Hillary?

"Interestingly the Democratic party as a whole skews towards the wealthy. The New York Times noted in October 2016 that in a recent poll 45% of households making over $100,000 were voting for Democrat Hillary Clinton opposed to 28% of Republicans voting for Trump. Those earning above $250,000 were even more skewed towards Hillary, with 53% planning to vote for her vs only 25% for Trump."

Facts don't lie?

Tenebroso

« Reply #20 on: December 23, 2020, 14:17 »
0
This indicates that various population groups prefer the worst candidate in history in the face of the danger of a wide sector of society, tired of everything, oblivious to the news, unhappy, capable of living an alternative reality, and who can see the light on a dangerous far-right populist leader.

Logically, you have in opposite of half your people and the rest of the planet. Only violence will solve this issue. There is no other possible solution.
« Last Edit: December 23, 2020, 14:21 by Tenebroso »

« Reply #21 on: December 23, 2020, 16:19 »
+4
The only thing he will try to improve is his bank account. He has been very clear about that with his actions.

farbled

« Reply #22 on: December 23, 2020, 16:31 »
0
*
« Last Edit: December 23, 2020, 17:20 by farbled »

« Reply #23 on: December 24, 2020, 09:26 »
+1
The only thing he will try to improve is his bank account. He has been very clear about that with his actions.

^this^

Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #24 on: December 24, 2020, 15:10 »
+3
This indicates that various population groups prefer the worst candidate in history in the face of the danger of a wide sector of society, tired of everything, oblivious to the news, unhappy, capable of living an alternative reality, and who can see the light on a dangerous far-right populist leader.

Logically, you have in opposite of half your people and the rest of the planet. Only violence will solve this issue. There is no other possible solution.

Are you talking about the one we just elected or the one that's leaving.  ;D

When there are only two candidates for two Presidential elections and most of the people from either side, want neither of them, we get this kind of near 50/50 result.

People shouting and arguing, has never changed anyone on the other sides opinion or mind. So what we get is polarized, shouting, claims, lies and angry, for NOTHING! Oh it does make enemies and make friends dislike and distrust people they would otherwise be closer to. I see no gain and no purpose to the constant biased opinions.

No... violence is not the answer. Working within the system is the right answer.


 

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