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Author Topic: Shutterstock just became iStock 2.0  (Read 68306 times)

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« Reply #175 on: May 26, 2020, 16:56 »
+5
"Our new compensation model is designed to reward content creators for producing quality work that is fresh, relevant and in demand by our customers. By resetting the royalty levels each year, we aim to provide an avenue for contributors to be fairly rewarded for content that is performing well at the current time."


I read that three times, and I still dont get how this FUBAR (for those non-USAers...effed up beyond all recognition ... a military term) provides an avenue to be fairly rewarded. They are hosing people big time!


« Reply #176 on: May 26, 2020, 17:20 »
+6
"Our new compensation model is designed to reward content creators for producing quality work that is fresh, relevant and in demand by our customers. By resetting the royalty levels each year, we aim to provide an avenue for contributors to be fairly rewarded for content that is performing well at the current time."

It leaves you wondering why anyone would put energy into creating fresh, relevant, in demand content for a reduced percentage, especially when it was already low. If you have enough older content to bring you to a higher level quickly you would at best wait to upload fresh content when you were getting a higher rate per image rather than sell it for pennies.

« Reply #177 on: May 26, 2020, 17:32 »
+2
Ok, but how can you forget that they are not selling images anymore but selling stock?!

fritz

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« Reply #178 on: May 26, 2020, 17:35 »
+17
It's a matter of time until AS will do the same as IS and SS!

« Reply #179 on: May 26, 2020, 17:47 »
+3

Probably the better option is to buy many shares of STK, join other shareholder activists, and force all current management out. We would need like 15% voting shares to have any impact on the management.

I was all set to sell my shares first thing tomorrow, because I don't want to support a company that is treating their contributors this way, but this is really a much smarter option. I just can't imagine enough of us getting together and having that clout.

But maybe I should wait and see - I'd be glad to be part of an activist group.

Covid has made things so bad and this truly devious move by ss with the percentage ruse (even at 40% most sub downloads will earn you just 10 cents!) is really the last straw. Unless you are a huge producer, I don't see how this is viable anymore, and even then how do you profit after all the expense? When you can't shoot assignments due to social distancing requirements, what is a photographer to do?
« Last Edit: May 26, 2020, 17:51 by wordplanet »

« Reply #180 on: May 26, 2020, 17:49 »
0
quoted portion got messed up...

« Reply #181 on: May 26, 2020, 17:59 »
+4
I just had the opportunity to answer their survey (the same one that we answered at least 10 times already). You can imagine my answer today!  >:(

SpaceStockFootage

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« Reply #182 on: May 26, 2020, 18:02 »
+1
Does this mean by uploading to Blackbox we are automatically in the top tier of earners???

That would seem to be the case. From the owner: 'I can tell you that we will reach 5,000 in as little as a month'. That would mean an increase to 20% after the first 90 minutes of the year, 25% after 7.5 hours, 30% after 1.5 days, 35% after a month and 40% after 5 months. Don't forget the 15% that BB take as well... although they did have a deal that seemed to pretty much eliminate the 15% (although the exact details of the deal were never really disclosed when it came to figures), but not sure how that will work now... whether they still get a special rate or not.

But still, does make BB a lot more appealing now. I was planning to stop uploading to BB, but I guess it makes sense to carry on. Unlikely I'll be going over 25% on my individual account. Might hit 30% in time for Christmas if I'm super lucky.

« Reply #183 on: May 26, 2020, 18:20 »
+4
We are making this adjustment in order to reflect changes in the market for creative content: We need more profit and we do not care about contributors
help to create fair opportunities for all our contributors: Like the communists did: you all get the same pay, close to zero.
and reward performance with greater earnings potential: A potential, like in a chance close to zero?

To the majority of the contributors it will take months to get back on the level they are now and then comes january again and they set you back to level one!

It's IStock 2.0 indeed where I got so many $.07 sales I decided to upload only older files there so what I upload today won't be at IStock till november or so. I'm thinking of doing the same with Shutterstock since it's not worth anymore.

By the way: I won't be surprised if we receive the same message from Bigstock anytime soon!
 

« Reply #184 on: May 26, 2020, 18:35 »
+1
This is pathetic. So at the beginning of every year they get to make serious bank off of contributors backs by dropping everyone to the lowest pay level.

Unbelievable.  >:(
I just sent them a reply to that email congratulating them on their decision. They will lose their best contributors.

If by best you mean those that sell the most I think you will find they will be more than happy about the situation. They get an initial boost from now until January by the end of which the will be back up to the top band.  They sell most of the content and make most of the money and now they will make more.

« Reply #185 on: May 26, 2020, 18:38 »
+3
Regarding to subscription sales, that always was main sale; we never was paid based on the subscription package that buyer buy. There are 4 subscrption packetes:

10 images for 49usd (Packet 1 or P1)
50 images for 125usd (Packet 2 or P2)
350 images for 199usd (Packet 3 or P3)
750 images for 249usd (Packet 4 or P4)

Based on this and the % presented for SS the earnings per sale under new criteria is:

Level 1   0,74 usd(P1) ---- 0,38 usd(P2) ---- 0,09 usd(P3) ---- 0,05 usd(P4)
Level 2   0,98 usd(P1) ---- 0,50 usd(P2) ---- 0,11 usd(P3) ---- 0,07 usd(P4)
Level 3   1,23 usd(P1) ---- 0,63 usd(P2) ---- 0,14 usd(P3) ---- 0,08 usd(P4)
Level 4   1,47 usd(P1) ---- 0,75 usd(P2) ---- 0,17 usd(P3) ---- 0,10 usd(P4)
Level 5   1,72 usd(P1) ---- 0,88 usd(P2) ---- 0,20 usd(P3) ---- 0,12 usd(P4)
Level 6   1,96 usd(P1) ---- 1,00 usd(P2) ---- 0,23 usd(P3) ---- 0,13 usd(P4)

« Reply #186 on: May 26, 2020, 18:50 »
+4
Tweet is a good way to get out message...A lot of post already  on that you can retweet.. Search  " shutterstock contributors"  you will find the post....Please retweet and post you own SS sweet tweets...

« Reply #187 on: May 26, 2020, 19:10 »
+1
Please take time to share ur thoughts on social media tagging and using their hashtags for non contributors to see. We need to stand up and not let SS insult our hard work and time it takes to create content!

« Reply #188 on: May 26, 2020, 19:24 »
0
If this was about encouraging ongoing contributors, theyd just be changing the existing tiers to reset each January, but theyre also separately lowering commissions. Less than a year after Adobe raised commissions for most folks, Shutterstock is severely cutting them. Theyve got to be really struggling to slash in this way.

« Reply #189 on: May 26, 2020, 19:44 »
+3
Regarding to subscription sales, that always was main sale; we never was paid based on the subscription package that buyer buy. There are 4 subscrption packetes:

10 images for 49usd (Packet 1 or P1)
50 images for 125usd (Packet 2 or P2)
350 images for 199usd (Packet 3 or P3)
750 images for 249usd (Packet 4 or P4)

Based on this and the % presented for SS the earnings per sale under new criteria is:

Level 1   0,74 usd(P1) ---- 0,38 usd(P2) ---- 0,09 usd(P3) ---- 0,05 usd(P4)
Level 2   0,98 usd(P1) ---- 0,50 usd(P2) ---- 0,11 usd(P3) ---- 0,07 usd(P4)
Level 3   1,23 usd(P1) ---- 0,63 usd(P2) ---- 0,14 usd(P3) ---- 0,08 usd(P4)
Level 4   1,47 usd(P1) ---- 0,75 usd(P2) ---- 0,17 usd(P3) ---- 0,10 usd(P4)
Level 5   1,72 usd(P1) ---- 0,88 usd(P2) ---- 0,20 usd(P3) ---- 0,12 usd(P4)
Level 6   1,96 usd(P1) ---- 1,00 usd(P2) ---- 0,23 usd(P3) ---- 0,13 usd(P4)

You forgot the annual payment plan for subscription. That takes 750 images per month down to $199 per month.
Plus there is a newly-announced pay-up-front for an annual subscription which results in $166.58 a month or 22 cents an image. Even at 40%, that's only 8.8 cents (i.e. you'd get 10 cents at all levels)
« Last Edit: May 28, 2020, 11:27 by Jo Ann Snover »

« Reply #190 on: May 26, 2020, 19:44 »
0
Lets get a hashtag started on social media, has to start with shutterstock so it auto suggests the rest... maybe #shutterstockboycott ?

« Reply #191 on: May 26, 2020, 19:45 »
+3
I'm not going to do anything until June 1st, but I'll be disabling my portfolio then if they go ahead with this cash grab. #boycottShutterstock

https://twitter.com/joannsnover/status/1265443289441824768


« Reply #192 on: May 26, 2020, 19:46 »
+3
Lets get a hashtag started on social media, has to start with shutterstock so it auto suggests the rest... maybe #shutterstockboycott ?

Lots of existing tweets with #boycottShutterstock, so that's what I'm going with

« Reply #193 on: May 26, 2020, 20:09 »
+3
Clients/investors looking into a companys dealings dont start search with #boycott... they start search with #shutterstock...
 
More effective to start with most obvious search word.


Lets get a hashtag started on social media, has to start with shutterstock so it auto suggests the rest... maybe #shutterstockboycott ?

Lots of existing tweets with #boycottShutterstock, so that's what I'm going with

PaulieWalnuts

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« Reply #194 on: May 26, 2020, 21:33 »
+7
ShutterStock are finished as a site, anyone who has any sense of their own worth is going to leave them.

The reality is they won't find this out for a couple of years, as the buyers move elsewhere.

When Getty introduced this type of structure, everyone called them the evil empire and vowed loyalty to Shutterstock. None of these partners can be trusted. But I'm sure Adobe will be anointed as the new savior.

Sadly, now we're going to see lots of unhappy SS contributors flock towards Adobe, just like they flocked to SS when iStock went crazy. These unhappy contributors will flood Adobe with millions of images, diluting any sales there as well. I predict the following years are going to be terrible. All I can say is I'm glad I'm not depending on stock revenue.

I cant remember the progression but I think Fotolia screwed everybody and people flocked to Istock. Then Istock did the screwing and people flocked to SS. Now here we are. Is it only a matter of time before Matt shows up here and doesn't have the usual good Adobe news to share?

Or maybe Adobe will take advantage of this situation. Introduce some aggressive and innovative changes to attract disgruntled and fed-up contributors to crush SS out of existence. Would be nice to have a trustworthy partner again. Until then, investing anything in this business is a loser in the long term.

« Reply #195 on: May 26, 2020, 22:01 »
0
The peak of shutterstock is over. Its a huge downfall now.

« Reply #196 on: May 26, 2020, 23:03 »
0
First time I am almost happy that my earnings in the last 18 months dropped by 80%. ;D

« Reply #197 on: May 26, 2020, 23:05 »
0
one of the most terrible news so far this year .

« Reply #198 on: May 26, 2020, 23:08 »
0
the only change they did to save their ass is to take our money .

« Reply #199 on: May 26, 2020, 23:14 »
+4
I'm not entirely sure what kind of a bet Kate at Shutterstock lost to be the face of this fiasco.

I'm not even sure Kate is a person. But if she is, I think she'll go the way of Alex Shutterstock soon.

I think its a person.  Sent me a PM telling me to stop asking questions in the initial thread then banned me.  Not seen bots do that before!


 

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