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New earnings structure for Contributors


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1 minute ago, Milo J said:

That would be reassuring, but if that is so, why would Kate not say so? Could have doused the flames.

That is a good question.  Regardless of if I am right or wrong and if they are doing good or bad this was a PR flop.  Failure to communicate no mater what.

That said these firm hold their market tiering data sacred so they don't want to signal is my guess.  

Bad communications in business is more common than we think.

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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 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

Just when you think Shutterstock couldn't completely and utterly screw the contributors and more you've gone and done it. Effectively with a January reset everybody gets a cut of 20% or more of e

Posted Images

We do all of the work, operate at a loss for our time and expense to hand them a finished product, make an insulting percentage and fight the reviewers constantly to do so. What exactly does SS do to earn their cut exactly? Abuse their content creators and ruin their own business with the worst decisions possible? No self respecting artist of any value would accept these conditions for their work. No producer in any market would accept these conditions in exchange for their goods. I guess SS believes theres enough Unsplash artists out there willing to upgrade from giving it away for free to getting pennies instead.
I'm done with stock and am moving on to other ventures not in constant decline.

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9 minutes ago, Milo J said:

@Philip Rozenski - The question is, which model scenario is it. What are the most common packages bought? I asked that question of Kate something like 20 pages of this thread ago, but no answer was given. Personally, I will take a wait and see approach to this until July 1. If my earnings crash to the floor during June, then I'll know this new thing is not working out for me, and can make further decisions then.

A rational approach sir!

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10 minutes ago, Philip Rozenski said:

 Actually the have 1.9 million active users--say 90% on subscription or 1.71MM-- but 80% are image and 20% are video so 1.368 photo focuses subscribers.

46 million downloads Q1--about 184 million a year-- we will say 80% are images so say 147.2MM images per year or 12MM per month and we will contribute them all to subscription for shits and grins.

That is less than 9 subscription photos taken per account... someone in the art department is getting fired as they wasted $100 a month every month on subs. 

I can run a solve for on the formulas in the model for you tomorrow but it is late.  But basically most will sell in the 50 per month subs or you would be getting a shit ton of direct downloads.  You have to understand the 10 and 50 downloads are cheap alternatives to direct download costs.

 

According to the shutterstock subscription plans page 350 is the most popular. I didn’t need to run a solve, simulation or algorithm. I just looked at their own website. 

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So, if your an early adopter (i.e. long time contributor) you deserve to be continually 'rewarded' for your content?

Versus a contributor who is out in the field uploading the most relevant (i.e. 'fresh' or current) content available?

Oh. I get it. Protect the status quo, first users first! - ummmm, no.

I applaud Shutterstock for seeking value over legacy. Relevance over bloodline.

I like the change. I have content that is useful, and appreciate Shutterstock is wiling to reward RELEVANCE

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I have been contributing to Shutterstock for over 10 years now, whenever i feel like uploading and doing metadata Shutterstock was my first choice because i knew the time and effort i put into it will worth over a period of time but after the recent earnings tier update i think it is not going to worth it anymore.

Thanks Shutterstock for the lovely decade. I might not delete my portfolio but i certainly will be a lot less motivated to upload new stock while knowing the effort wont worth it.

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8 minutes ago, Eric Urquhart said:

According to the shutterstock subscription plans page 350 is the most popular. I didn’t need to run a solve, simulation or algorithm. I just looked at their own website. 

Nope but puffery is allowed in marketing.  Could be one more than the 50.  Could mean they only sell on 750 a year.  You will sill need some algebra there.  If you think about it if 50% of their subs in this model were the 350 and user only drew down 200 per month you would have 650K subscribers downloading 130 million images a month...but they only sell 12 million.

Direct from their financial report...

Over 1.9 million active, paying customers contributed to our revenue for the twelve-month period ended March 31, 2020. As of March 31, 2020, more than 1.2 million approved contributors made their images, footage and music tracks available in our collection, which has grown to more than 330 million images and more than 18 million footage clips. This makes our collection of content one of the largest of its kind, and we delivered more than 46 million paid downloads to our customers across all of our brands during the three months ended March 31, 2020.

And I am not saying anyone has to stay or go... but just injecting debate and analyzing hard reported SEC numbers.

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This is a total joke. Every January back to the lowest earnings ?!? Shutterstock used to be number one in my book, but not any more. Why don't they just cut the BS and not pay us at all as everything they are doing lately (it is painful to upload vectors now) makes me feel that they don't actually want contributors.

Extremely bad move from what was once a really good, fair and honest company.

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Huhu.. bad news in a Covid crisis world where I depend on my sales. I've been trying hard to make myself go up, higher in rank for years and then this sad sad news... 1) Resetting every January is like an arrow to the heart. :( 2. It has affected my emotions and creativity plus the long year plans to stay creative and submit mostly to Shutterstock only. So sad.. Can't explain my mixed feelings... Need to find another ways to survive financially (without my skills and creativity getting taken advantaged). So  I need to change my priorities... stop uploading here first until this scheme and nightmare will be over. :(

 

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Hi! 

I've been with Shutterstock since 2014, I have 19672 images on sale right now, and this is not loads of crap, they are images that sell well here and elsewhere (I've been assigned Level 5).

Until yesterday, I loved being a microstock photographer, I have no other income. As I see it, what Shutterstock is doing now is probably going down in flames, but taking the whole industry with them. I understand that the current payouts model is probably unrealistic under the circumstances, but the drastic cut and the manner in which it has been announced are too much. Definitely this measure opens up way to similar changes on other microstocks, which will lead to professionals just not being able to gain any serious income from them.

This is why I will deactivate my portfolio on the last day of May, if nothing changes (and I have no hope left that it will).

I am so sorry that our beloved Shutterstock has gone and done something like this.

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"If you want a vision of the future, imagine a boot stamping on a human face - forever" George Orwell

Shutterstock must just be honest they ain't got no loyalty. They are just lining their own pockets at the cost of the contributors. I think at this time we should invest more into Adobe, yes we understand you a business but when you have no regard for the people that brought you where you are it's time for them to pull out.

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13 hours ago, Studio 2 said:

Can you clarify please what this amounts to in each category as I don't know how much customers pay. Otherwise I can't make sense of the percentages.

 

Generally, we contributors will get 10 cents per sub.

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14 minutes ago, Raisa Kanareva said:

This is meanness. You know that many now because of a pandemic may not have time to react and hope to "slip through".
This approach will lead to the collapse of your business in the near future.
Think about it.

There is no pandemic at all. It was created to simple things out. Lower expenses and increase profit.

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