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Author Topic: Shutterstock revenue increased by 2% but cut cost by 8% in 2020 over 2019.  (Read 5123 times)

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« Reply #25 on: March 07, 2021, 06:03 »
+2
This little growth is the contributors money that went straight down their pockets! nothing else. So whats next? how are they going to maintain their growth? by stealing from us yet again and again and again??

Definitely the major part of their profit growth came from lowering our pay.  They exactly knew what they were trying to do.

No it didn't.
You do realise that the lowered rates did not start until January 1st don't you? So the results of that won't be reported until the end of Q1 in 2021 - so all of the increased profits, etc are the results of actions taken other than cutting commission rates.

Are you with Shutterstock?  Or just say no to my post?

"Starting on June 1st, 2020, your earnings for each license will be based on your Image Level or your Video Level.  "

https://forums.submit.shutterstock.com/topic/100133-new-earnings-structure-for-contributors/


« Reply #26 on: March 07, 2021, 08:15 »
+5
You do realise that the lowered rates did not start until January 1st don't you? So the results of that won't be reported until the end of Q1 in 2021 - so all of the increased profits, etc are the results of actions taken other than cutting commission rates.

Not really true.  The levels came in June 1st.
Things like sub cuts from 0.38 to 0.10 happened then.

Jan will give a bigger increase yes but the start of the reduction was June 2020.

Uncle Pete

  • Great Place by a Great Lake - My Home Port
« Reply #27 on: March 07, 2021, 14:45 »
+1
You do realise that the lowered rates did not start until January 1st don't you? So the results of that won't be reported until the end of Q1 in 2021 - so all of the increased profits, etc are the results of actions taken other than cutting commission rates.

Not really true.  The levels came in June 1st.
Things like sub cuts from 0.38 to 0.10 happened then.

Jan will give a bigger increase yes but the start of the reduction was June 2020.

True correction, and lets not forget that with the new year, ODs dropped into a deep pit as well. From $2.70 each, they are now down in the 40 cent range. Another source for more income.

Another detail for myself is, I won't be at level 4 by June this year, like I was last year. Sales volume is down.

« Reply #28 on: March 07, 2021, 15:42 »
0
You do realise that the lowered rates did not start until January 1st don't you? So the results of that won't be reported until the end of Q1 in 2021 - so all of the increased profits, etc are the results of actions taken other than cutting commission rates.

Not really true.  The levels came in June 1st.
Things like sub cuts from 0.38 to 0.10 happened then.

Jan will give a bigger increase yes but the start of the reduction was June 2020.

Exactly.  I don't think he/she is/was a contributor at the time.

« Reply #29 on: March 08, 2021, 00:00 »
+4
All this business about evil Shutterstock is getting silly. The fact is that the supply of photos available for download has increased by a significant amount. The demand for those photos has not increased at anything approaching the magnitude of the supply increase. When supply increases faster than demand the price drops--hence the reduction in artist commissions. To the degree that some artists drop out because it isn't worth their time at the new price level, well that is simply the mirror image of Shutterstock's commission cuts.

That's how prices are discovered in the market place and how an equilibrium point is reached. It has nothing to do with greed, or the black hats versus the white hats or any of that stuff. It is just supply and demand; thing more, nothing less.

To the degree that other players think that they can attract better returns by offering higher commissions to artists, perhaps for higher quality photos and a more exclusive customer base, they will do so. That's how competitive markets work.

Joe Benning

 Exactly!  If one wants to remain viable in this changing market one has to adjust to changing conditions.  Complaining about evil agencies won't increase your bottom line.  One needs to decide whether one can still compete under these conditions or cut bait.  There are ways to continue, one just needs to find them!

« Reply #30 on: March 08, 2021, 08:33 »
+2
All this business about evil Shutterstock is getting silly. The fact is that the supply of photos available for download has increased by a significant amount. The demand for those photos has not increased at anything approaching the magnitude of the supply increase. When supply increases faster than demand the price drops--hence the reduction in artist commissions. To the degree that some artists drop out because it isn't worth their time at the new price level, well that is simply the mirror image of Shutterstock's commission cuts.

That's how prices are discovered in the market place and how an equilibrium point is reached. It has nothing to do with greed, or the black hats versus the white hats or any of that stuff. It is just supply and demand; thing more, nothing less.

To the degree that other players think that they can attract better returns by offering higher commissions to artists, perhaps for higher quality photos and a more exclusive customer base, they will do so. That's how competitive markets work.

Joe Benning

 Exactly!  If one wants to remain viable in this changing market one has to adjust to changing conditions.  Complaining about evil agencies won't increase your bottom line.  One needs to decide whether one can still compete under these conditions or cut bait.  There are ways to continue, one just needs to find them!

Shutterstock would love contributor like you!!!   You are model contributors!!  ;D

Horizon

    This user is banned.
« Reply #31 on: March 09, 2021, 04:20 »
+3
Joebenning!  No you got it wrong its not a matter of evil agencies. Its a matter of if you want to support a business that is going from bad to worse support a business who is surviving on the basis of robbing its suppliers.
You talk about supply and demand hahaha! that conclusion was on the agenda 10 years back but you wasn't here then.

Many people here you understand see their livelihood just fading away and see their portfolios of tens of thousands of images being virtually useless! not a pretty picture.
So to come here with lots of waffle and quasi philosophy isnt a good thing.

« Reply #32 on: March 14, 2021, 18:03 »
+4
Joebenning!  No you got it wrong its not a matter of evil agencies. Its a matter of if you want to support a business that is going from bad to worse support a business who is surviving on the basis of robbing its suppliers.
You talk about supply and demand hahaha! that conclusion was on the agenda 10 years back but you wasn't here then.

Many people here you understand see their livelihood just fading away and see their portfolios of tens of thousands of images being virtually useless! not a pretty picture.
So to come here with lots of waffle and quasi philosophy isnt a good thing.

youve been calling quits at shutterstock since 2015 and you still have your portfolio with them https://www.shutterstock.com/g/attorney2


 

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