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Author Topic: Shutterstock just became iStock 2.0  (Read 30521 times)

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« Reply #25 on: May 26, 2020, 11:05 »
0
Well, I can't make any sense of this. Will everyone zero at the beginning of each year (start on 15% and have to rise up the ranks fresh)? that seems insane.

If not, why is my level on the email tied to my downloads so far since January, and not based on my total for last year, which would place me well into the next tier.

"All contributors reset to level 1 for both images and videos every year on January 1st."
As a quota for the next year, not for the current, at least that's how I understand it. That mail is really lacking...

so you get paid the level of the previous year performance, not start from level 1? if thats the case its not too bad. they do need to CLARIFY that ASAP then before someone burns down their office


m

« Reply #26 on: May 26, 2020, 11:06 »
+6
It's like they are trying to run shutterstock into the ground. We'll be pulling all videos and images (over 40,000)

« Reply #27 on: May 26, 2020, 11:08 »
0
It is not clear but Level 1 = 15% is that 15 cents....Level 2 = 20% is that 20 cents  and Level 5 which is last level 40%  is that 40 cents per image sale... If this is correct and you were making 38 cents an image sale ...Screw job...Maybe I am not reading this correctly. Your thoughts ?

« Reply #28 on: May 26, 2020, 11:08 »
0
This is worse than both iStock and 123rf.

1. The reset to the lowest rate Jan 1 each year

2. It's unit sales not $$, so videos, subscriptions and the SOD high value licenses count the same. Imagine getting one of the high value SODs in January, and instead of $102 you get $51 (because you're at 15% versus 30%)

3. Video is really hosed as their units are the same as image units, but typically (at least in the past) videos sold fewer but at a high royalty

4. Not clear what happens to subscription payments - are they a percentage now or still a rate table. As their enterprise business is shrinking (last two earnings calls) but the "e-commerce" business - subscriptions - is growing, they'd gain quite a lot by cutting our royalties there.

For now, we can turn off our portfolios without removing content, although that may not survive this slash and burn maneuver. As I'm already at my 30% rate (what I've been earning so far), I'd have nothing to lose in the long term by turning off content - if I were to choose to try and protest this despicable cash grab by the new CEO

I'm not surprised, but I am angry. I'll wait a bit for the formal announcement before deciding what to do.

Tossers.

Exactly my thoughts, was asking myself the same question. Reset to rank 1 on January could mean losing on enhanced and special license sales... more so if Shutterstock schemes to sell those in January... and they have not specified anything about the subscription which is the license we sell the most... and videos... sales already dropped, but now it doesn't make any sense uploading more videos, no way to get 2500 sales a year for most.

« Reply #29 on: May 26, 2020, 11:09 »
+3
I can't believe that video download numbers for each level is the same as images. what? Video contributors are going to have the roughest end of this shite system.

Don't worry, if you sell more than 5,214 video clips per year you will actually start making more! Great news!

I'm sure there are lots of contributors selling more than 434 clips per month. :)

For everyone else, a cut, and for most, a significant cut.

« Reply #30 on: May 26, 2020, 11:09 »
+13
Wow ... I can hear the corks popping at Adobe from here!

« Reply #31 on: May 26, 2020, 11:09 »
+15
i am sure rinder will be here shortly claiming he predicted it 20 years ago and that this is the final straw, he's done with shutterstock, and then continues to contribute another 10 years, rinse repeat  ;D ;D ;D

« Reply #32 on: May 26, 2020, 11:10 »
+3
Well, I can't make any sense of this. Will everyone zero at the beginning of each year (start on 15% and have to rise up the ranks fresh)? that seems insane.

If not, why is my level on the email tied to my downloads so far since January, and not based on my total for last year, which would place me well into the next tier.

"All contributors reset to level 1 for both images and videos every year on January 1st."
As a quota for the next year, not for the current, at least that's how I understand it. That mail is really lacking...

so you get paid the level of the previous year performance, not start from level 1? if thats the case its not too bad. they do need to CLARIFY that ASAP then before someone burns down their office

Don't hope for that, it's clearly stated in the email:
All contributors reset to level 1 for both images and videos every year on January 1st.

« Reply #33 on: May 26, 2020, 11:10 »
+1
Starting contributors will gets less, as minimum was 20% (up to $80) in lifetime, now it will be 15%.

Well top agencies and biggest contributors and photo/videa farms with selling more than 2500-25000 will get 35% and 25000+ sells even 40%. But not that easy to get there, as they split foto & video. You want to get 40% for both? You have to sell 50.000+ together 25k+ photo and 25k+ video each year.

I am quite angry because of this. I will get less for photos 25% instead of 28% and 15% instead of 30% for video.

Reset every year instead of keeping some average, or floating average for last 12 months is extremly nasty. So every January Shutterstock will get more many even from biggest contributors and pay you minimum for first sells.

« Reply #34 on: May 26, 2020, 11:11 »
0
Well, I can't make any sense of this. Will everyone zero at the beginning of each year (start on 15% and have to rise up the ranks fresh)? that seems insane.

If not, why is my level on the email tied to my downloads so far since January, and not based on my total for last year, which would place me well into the next tier.

"All contributors reset to level 1 for both images and videos every year on January 1st."
As a quota for the next year, not for the current, at least that's how I understand it. That mail is really lacking...

so you get paid the level of the previous year performance, not start from level 1? if thats the case its not too bad. they do need to CLARIFY that ASAP then before someone burns down their office

Don't hope for that, it's clearly stated in the email:
All contributors reset to level 1 for both images and videos every year on January 1st.
maybe a counter reset, but not an earnings level reset?
if you start the year at 15%, bwhahahahahahaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa, what a bunch of fucktards
« Last Edit: May 26, 2020, 11:14 by Microstockphoto »

« Reply #35 on: May 26, 2020, 11:15 »
+3
Pretty ruthless of them to just throw this half baked and ambiguous update in the SS forums and not bother with any clarification, just watching contributors go into complete meltdown

« Reply #36 on: May 26, 2020, 11:17 »
+17
As long as there is no united protest from contributors, they will continue doing whatever that works for them.

« Reply #37 on: May 26, 2020, 11:17 »
0
Not surprising.




anon20200611

« Reply #38 on: May 26, 2020, 11:18 »
0
Guys I did some math and maybe it's not worth to panic so much. The % actually seems to increase I think and give some motivation for higher contribution.

The maximum % Shutterstock was paying before, was 30%. So now I can see (I am a level 4-5 for most time of the year) that my % will be 30% by  February (same as before) and 35% from May or June. But as I was protected before with a minimum 0.38c per download, now it depends on the type of client that buys my image.

But let's calculate how much the client will pay:

If it's a customer of 750/month annual billed upfront the price is ($0.22/image) - 35% of that is 0,07cents
If it's a customer of 10/month no contract, billed monthly the price is ($4.9/image) - 35% of that is 1,71cents

I think I could accept to prefer it like this. Most customers are small producers / blog writers that sometimes need only just a few images. How many customers actually would actually go for the highest tiers?

The reset is only for 100dls. My 400-500 dls per month send me very fast to level 4 and 30%. They are basically looking to kill the income of inactive contributors that are in decline but highest tier, while the clients may pay as low as $0.22/image.

If I was them, I would do the same. Do we really need to complain about it if we are active contributors?


« Last Edit: May 26, 2020, 11:26 by ThomasAndreas »

« Reply #39 on: May 26, 2020, 11:20 »
0
Look at there share price it going up today:
https://www.marketwatch.com/investing/stock/SSTK


Why not clicking there Adwords/Advertising at Google away?

« Reply #40 on: May 26, 2020, 11:20 »
+16
I've been with Shutterstock for 15 years, but if they are in fact going to reset everyone every January 1st, I WILL pull my entire portfolio.

« Reply #41 on: May 26, 2020, 11:21 »
+3
Incredible! No respect from Shutterstock for creative work! Where is the stock trade union? Or should we go like Magnum?


angelawaye

  • Eat, Sleep, Keyword. Repeat

« Reply #42 on: May 26, 2020, 11:22 »
+5
This is horrible news! To go from earning .38 cents to .15 cents every January will really affect my earnings.

« Reply #43 on: May 26, 2020, 11:23 »
0
In my email it said I was at level 2 for video - I have not had anywhere near as many downloads this year as it says. Are they softening the blow, by letting me stay a level above? I mean it's still a big dip in percentage. Awful

I'm at level 3 for images, and that number is right.

« Reply #44 on: May 26, 2020, 11:24 »
+1
I suspect video people will be hit worse due to the way the tiers are structured.

Very few will sell enough to get into the top tier.
Currently EVERYONE gets 30% of videos.  From january initially everyone is going to get 15%.

A low-mid video contributor may sell 10 videos a month?  That means they're on 15% until November or so then only up to 20% by year end and getting reset back down to 15%.

How many people sell 2500+ videos a year? Very vew.  How many sell 25,000+ a year?  even fewer.

So for most people its an immediate cut of 5% minimum then a massive cut in january.

« Reply #45 on: May 26, 2020, 11:25 »
0
I made a thread in the general discussion and didn't realise there was already in the SS one. Assuming my post gets deleted, here's my (really pissed off) take.

You've got to hope for a good start to the year to have any chance of getting the 30% you were used to in February. Obviously for the 0.1% they'll be enjoying the riches of a 40% cut in no time, whilst everyone else who is slaving away and trying to reinvest stock money into trips will be having to save up a little longer, perhaps not even seeing the 30% tier given how the exponential sales targets are.

« Reply #46 on: May 26, 2020, 11:28 »
0
In my email it said I was at level 2 for video - I have not had anywhere near as many downloads this year as it says. Are they softening the blow, by letting me stay a level above? I mean it's still a big dip in percentage. Awful

I'm at level 3 for images, and that number is right.

Yes, my level was incorrect also. We can only hope that the video levels were not correct in the e-mail (just mistakenly copied from the images table), and maybe only 5-10% of the number of image downloads would apply to video. It would make more sense.


UPDATE:

Yes, the video levels were wrong in the e-mail. The right ones are in the Shutterstock forum.

You still need 5,214 sales or more to not make less.
« Last Edit: May 26, 2020, 11:31 by increasingdifficulty »

Noedelhap

  • www.colincramm.com

« Reply #47 on: May 26, 2020, 11:30 »
+9
Un-be-lievable.
 
Corporate greed in these trying times where almost every photographer, videographer and illustrator is fighting to survive this bad economic depression. Those immoral *insult removed* grab the last crumbs off your table and don't even have the guts to say sorry.

It's reprehensible behaviour and a testament to their despicable ethics.

Thank you, Stan Pavlovsky. Hope you enjoy your new yacht.

Edit: and Paul Brennan of course, who is equally guilty of this cash grab.
« Last Edit: May 26, 2020, 14:04 by Noedelhap »

« Reply #48 on: May 26, 2020, 11:32 »
0
And not to forget the new video subscription plan they just announced....

That makes 15 % of 8,95 for a video.

« Reply #49 on: May 26, 2020, 11:33 »
+2
Look at there share price it going up today:
https://www.marketwatch.com/investing/stock/SSTK


Why not clicking there Adwords/Advertising at Google away?
yes lets hurt them by clicking 1 cent at a time


 

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