Author Topic: Shutterstock + Flashstock (Read 5796 times)

Chichikov · « **on:** June 28, 2017, 04:49 »

Seen this today on twitter

https://twitter.com/Shutterstock/status/879827445762969600

More here:
https://www.shutterstock.com/press/14272

Artist · « **Reply #1 on:** June 28, 2017, 04:56 »

Looks good. I am sure something big is cooking.
They are buying it at whooping $50 million cash.. lot of money flowing in.

Pauws99 · « **Reply #2 on:** June 28, 2017, 05:26 »

Sounds good.....is it really "good news"? After so much good news has turned into bad for contributors its easy to have doubts. Looking at the Flashstock site I think it depends if us peasants will get content there it whether it will be the select few.....

TSLphoto · « **Reply #3 on:** June 28, 2017, 08:47 »

The briefs that i've been offered at flashstock have always had very low budgets. Usually in the $100-200 range and expect ~20 photos. These are usually quite specific in what they require which ends up making the brief not worthwhile for me personally. The cost to shoot the photos would take the whole payout.

Maybe Shutterstock can make things more appealing but I feel like this is another race to the bottom where they pay contributors pennies of what a proper photo shoot would cost and the contributor takes the hit.

JMHO

Brightontl · « **Reply #4 on:** June 28, 2017, 11:29 »

I have read the two links trying to understand what exactly this Flashstock is, but it is not clear at all to me.
Can somebody please explain?

Artist · « **Reply #5 on:** June 28, 2017, 11:45 »

http://www.microstockgroup.com/new-sites-general/'on-demand'-site-flashstock-com-anyone-tried-this/
http://www.microstockgroup.com/general-stock-discussion/is-this-website-the-future-of-branded-stock-(flashstock-com)/msg483670/

Brightontl · « **Reply #6 on:** June 28, 2017, 12:15 »

Quote from: Artist on June 28, 2017, 11:45

http://www.microstockgroup.com/new-sites-general/'on-demand'-site-flashstock-com-anyone-tried-this/
http://www.microstockgroup.com/general-stock-discussion/is-this-website-the-future-of-branded-stock-(flashstock-com)/msg483670/

Thank you for the link, I understand now

sarah2 · « **Reply #7 on:** June 28, 2017, 13:15 »

why do I get that gloomy feeling.......!
SS having problems running own site; hey let's buy another.....

dpimborough · « **Reply #8 on:** June 28, 2017, 14:04 »

Quote from: sarah2 on June 28, 2017, 13:15

why do I get that gloomy feeling.......!
SS having problems running own site; hey let's buy another.....

They would be better off sorting out the mess Jon O and the rest of the team are busy turning SS in to first.

Buying up companies is not the way to improve things.

Brightontl · « **Reply #9 on:** June 28, 2017, 14:28 »

I have not been in this game as much as most of you, but I really have the feeling that this is a market consolidating at the speed of light.
I am 99% into video, so not very much concerned about photos, but I believe that the minnows are practically gone.
All the company listed to the right as "middle tier" are not dead yet, but smell very funny (maybe Alamy apart).
istock looks like the sinking ship.
P5 only does video and sadly IMO has made a gigantic mistake with their idiotic membership thingy.
There are just two left. Guess who?

Jo Ann Snover · « **Reply #10 on:** June 28, 2017, 15:36 »

Not entirely clear how adding this custom-photo-shoot-on-the-cheap company really helps Shutterstock with their "platform" ambitions. Perhaps it's having a list of things to offer larger corporate clients/prospects so they look more comprehensive than just a stock library with an asset management (WebDam) option?

I don't recall reading this Forbes article (almost a year old now) before, but they don't think SS can do well long term without unique content.

The SEC filing says they paid $50m from cash on hand. This list shows all their acquisitions (although no prices for WebDam or Bigstock)

OM · « **Reply #11 on:** June 29, 2017, 07:40 »

Clearly with a payment of $65 million for Flashstock, SS doesn't appear to apply the same criteria of valuation to the company as might be done in Shark Tank or Dragon's Den!

Let me see now....the site shows 24 examples of projects completed. From this site's members' information on payment, they hand over $50-$100 to the shooter. Lets just say that Flashstock has had 1,000X the completed commissions they are prepared to highlight on the 'cases' page (24,000).
At 24,000 jobs @$100 payment = $2.4 million payout (and I reckon these assumptions are wildly optimistic) they must be selling the commissioned photos for 10X what they pay for them to come anywhere close to that $65 million valuation (3 years @20 million profit/year).

Anyway, whatever.....yet another race to the bottom now in commissioned photography.