MicrostockGroup
Agency Based Discussion => Shutterstock.com => Topic started by: theendup on October 27, 2020, 10:59
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Here are the highlights...
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https://twitter.com/joannsnover/status/1321165661276565506
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https://investor.shutterstock.com/news-releases/news-release-details/shutterstock-reports-third-quarter-2020-financial-results (https://investor.shutterstock.com/news-releases/news-release-details/shutterstock-reports-third-quarter-2020-financial-results)
All the data here.
Shutterstock stock up a 12.70%. No surprise here and surely specially the next quarters specially when for 1Q2021 the will pay mostly 15%. So if you want to make a nice profit with their stock while your royalties fall here is a chance.
In the long term we will see. If they can attract enough "good" suppliers not "people" uploading 1 million weed images they might sustain this valuations. Somehow I doubt it but you never know...maybe 15-25% is enough for contributors if they "make it up in volume".....we will see.
They made more money this quarter but not the contributors despite of those increasing by a lot.
A few interesting quotes of the "bright people" at Shutterstock
"Our margins have improved significantly, providing us the confidence to make further investments in product innovation and sales and marketing to enable us to capitalize on the improving demand environment"
"Third quarter revenue of $165.2 million increased $6.1 million or 4% as compared to 2019."
"Contributor royalties payable in 2019 1289 million in 2020 657"
"Adjusted EBITDA of $47.4 million for the third quarter of 2020 increased by $25.8 million, or 120%, as compared to the third quarter of 2019, due primarily to our margin expansion initiatives....."
Now that's what I call riding on the camels back laughing all the way to the bank..........Management and people owning stock should be really happy. Those contribution with their creative assets maybe not that much looking at the numbers of this Quarter that are really revealing......
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Sadly other agencies will be looking at this thinking that cutting contributor rates doesn't seem to have a downside.
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Sadly other agencies will be looking at this thinking that cutting contributor rates doesn't seem to have a downside.
Exactly.. Other fair agencies will surely be feeling cheated.. we contribute to those whose sole intention is own profit.
One side P5 and alamy giving about 50% and here getty/istock/SS etc selling...in fact just giving away our images.. in getty forum also contributors keep complaining...
in september i got 1 decent sale in getty for about 200USD and about 50 or so sales for 0.001 USD, specially some chinese firm
otherside in alamy 3 files for about 188 $ and DACS payment worth 100$... i regret that i deleted many files from alamy and uploaded in getty... It really hurts seeing my hard work is going to rich agencies for pennies while they can pay enough.
I dont actively shoot for stock now but what ever i shoot now.. will certainly go to alamy and P5.. No matter if i get occasional sale but it would be worth and would not feel worse seeing them... wasted enough with getty/SS
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"margin expansion initiatives" Now, there's some weasel words.
For anyone not familiar with corporate-speak, "margin" is the difference between what you pay for something, and what you charge for it.
They've expanded that. We know how.
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Q1 2021 is going to have bumper revenue as everyone starts on 15%.