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New earnings structure for Contributors


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In an email that is going out today, we are announcing that we will be updating the earnings structure that determines how much you get paid when customers license your work. We are making this adjust

This is just a joke. 10 years with SS and now I'll be getting 20% commission on my footage clips??? No lifetime sales tier, just what you sold last year/this year.... To get to the curr

This space will be updated to address frequently asked questions.  My email shows different counts for videos than are shown above. Which is correct? Apologies. The email to video contributo

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Looks to me like friend's sub account has used 27 downloads of 750 possible in one day.....month end is 27th August not July. Maybe they use around 600 of the 750/month which is still a good deal for SS as SS only has to pay out $60 to contributors. In the old system it might have had to pay out 600 X $0.38 = $228.00 which is more than that subscription deal cost even with 150 dls left unused.

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This is from the ShutterStock Inc (SSTK) Q2 2020 Earnings Call Transcript:

The report suggests that SS did better than was forecast with a higher revenue per download, 

That comes in part by turning to AI for ingesting the material supplied by contributors and also the huge reduction in what SS is now paying contributors. I do not see any reference in the report that SS is now paying contributors significantly less than what was paid out previously and that makes for a very distorted bottom line. That bottom line is not sustainable when a business shows no consideration for the suppliers of the material upon which the business was built. I have to wonder just how many contributors will be happy continuing to supply new material and have it return the minimum of just 10 cents.  

This is a temporary reprieve for SS and it seems to me that many shareholders would be well advised to take their money and run as the share price is not sustainable going forward.

The Q3 Earnings Call will tell the true story. 

Screen Shot 2020-07-29 at 2.24.45 PM.png

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I can only imagine that such a huge increase in subscribers is due to including all those free 'ten-image packages'. Even when the subscription is cancelled whilst 'free', it still counts as  a new subscriber even though they spent nothing and all it cost SS is 10X $0.10 = $1.00max/trial. Very cheap trial too for SS.....imagine if all the free images had to be paid out at $0.38.

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-Shutterstock top management: We have 340 Million images, we can make a good money giving them almost for free in partnership with other companies, as long as we don't pay the creators but peanuts.

-Shutterstock shareholders: Yeeees! Show me the money!

But there's something wrong in this reasoning: Shutterstock doesn't have any images, but the contributors are the owners.

Real owners of the work: What will you do? Make this company rich in change of nothing? Accept "whatever" is given to you? I'd better keep my pictures and show to my friends as an amateur. If I were a pro, I'd do something else with my pictures.

 

Another topic is the reviews of pictures in 2-3 minutes from submitting. Did shutterstock fire many reviewers and replaced by AI? Does shutterstock receive so few images that the reviewers are wating for them to get some comission?

 

I already said it, but shutterstock is destroying it's own busines.

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2 hours ago, Guillermo Barda said:

Another topic is the reviews of pictures in 2-3 minutes from submitting. Did shutterstock fire many reviewers and replaced by AI? Does shutterstock receive so few images that the reviewers are wating for them to get some comission?

I already said it, but shutterstock is destroying it's own busines.

the ceo (intentionally lower case!) came clean on that, admitting that reviews are done by AI. there is a thread started today on that in the forum.

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On 7/13/2020 at 1:27 PM, Tony Dunn said:

I wish more buyers would go there after realising what SS are doing cos I've uploaded 139 images to DT but no sales.

That was very misleading on DT - I sold more than normal in June - and DID NOT receive 10% extra - I emailed and basically was told I wasn't eligible for some reason - i don't why why!!     I told them that it was misleading contributors but they didn't really reply to that!

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20 hours ago, Yana Lesnik said:

Have a look on this report) SS pocket should be really really heavy now 🤑 🙂

123.jpg

The interesting statistic is really the 6% decline in paid downloads. I see more and more Unsplash photos around and believe this will get worse so that eventually contributors will receive less and less as microstock struggles to cope with the glut.

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11 minutes ago, paula french said:

Nagyon félrevezető volt a DT vonatkozásában - júniusban a szokásosnál többet adtam el, és NEM NEM kaptam 10% -ot külön - e-mailt küldtem, és alapvetően azt mondták, hogy valamilyen okból nem vagyok jogosult - nem tudom, miért !! Mondtam nekik, hogy félrevezető közreműködők, de erre nem válaszoltak igazán!

Did you fill out a tax form? If I remember correctly, if it is missing then there may be discrepancies.

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30 minutes ago, paula french said:

That was very misleading on DT - I sold more than normal in June - and DID NOT receive 10% extra - I emailed and basically was told I wasn't eligible for some reason - i don't why why!!     I told them that it was misleading contributors but they didn't really reply to that!

Hmmm...odd.....nothing to do with quantity sold. All my downloads automatically got paid extra - $2 sales stopped, and $2.20 sales appeared. Would be interested in their response....

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33 minutes ago, paula french said:

That was very misleading on DT - I sold more than normal in June - and DID NOT receive 10% extra - I emailed and basically was told I wasn't eligible for some reason - i don't why why!!     I told them that it was misleading contributors but they didn't really reply to that!

the 10% extra only for new customer subscription plan. Therefore you will get some with 10%, some without 10% extra - I had the same question and got such reply.

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I am a contributor from Italy, I have always privileged to upload my photos first on SS than on other online archives, 
both in terms of sales and revenues. After this ingenious thought, my earnings have decreased by three times ... 
I do not cancel my existing portfolio, it would be wasted further time, but I do not intend to upload new (and good) contents. 
I will load them on those of the competitors, which seems to me already more fierce....(and cheered by the suicide of SS) 
I believe that SS will lose many pro-contributors and a market segment, in exchange for some gains at the beginning.
Garbage royalties means garbage content. I refuse to put quality content on here at these rates. 
Good competition to GI without us...

 
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On 7/28/2020 at 11:44 AM, Giambattista Lazazzera said:

From June 1st to today I have exceeded 100 downloads. I should now be at level 2. Why are my photos still getting paid 10 cents?

I had this same issue. The move to the next level is based on the number of sales you make this calendar year. So although I had a total of 250 lifetime sales by June 2020 (joined July 2019), I only had 160 sales in 2020. If I go over 250 sales before December this year, then I will move to level 3... and then reset to level 1 Jan 1 2021.

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7 hours ago, paula french said:

That was very misleading on DT - I sold more than normal in June - and DID NOT receive 10% extra - I emailed and basically was told I wasn't eligible for some reason - i don't why why!!     I told them that it was misleading contributors but they didn't really reply to that!

It only applies to newly sold sub plans from June 1. If a buyer downloads an image with an old plan you only get the old 0.35$. That was indeed communicated in a misleading way.

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21 hours ago, paula french said:

That was very misleading on DT - I sold more than normal in June - and DID NOT receive 10% extra - I emailed and basically was told I wasn't eligible for some reason - i don't why why!!     I told them that it was misleading contributors but they didn't really reply to that!

 

As far as I understand, they pay 0.38 for subs subscribed after June 1st, for the previous 0.35. In fact, I have mixed sales, some 0.38 others 0.35

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