Important!: Royalty Changes and iStock Collections

So you really think we would understand it? It’s easier trying to understand our Inland Revenue and Customs and excise rules. Whatever!

(Edited on 2010-09-07 14:30:51 by KenWLloyd)

How many years of non-compete do you think they locked him into?

The company has officially turned from contributor/community focused to greed and profit maximization.  What the overpriced executives at Getty don't realize is that this will hurt them in the long run and will expose them to more competition as photographers leave or become non-exclusive. 

There is no "climbing the ranks". There is constant "clawing to stay in place" (and thanks to floating goalposts, could (and will) move from year to year). Please avoid the fanboy jazz.

12.5% cut here (40%->35%). But if I sell 3 times more images in value next year, I can get back to this year's level! That's very motivating, thanks a lot!

This now opens up the whole royalty payout system to even further 'management' from Getty via BM. 


All they have to do is fiddle with the BM in such away that historically successful files which have served successful high canister contributors well and continued to do so no longer sell well forcing that contributor down a level next year.


And anyone who has lived in the world of OTE, on target earnings, will recognise the true significance of this move.


A truly cynical and Big Business move.

It's so nice to know that there are people sitting in an office all day long whose sole job is to figure out how to squeeze more money out of people who are already underpaid. This certainly is an awesome business. Just host photos on servers and collect the money. Nothing is produced and no effort is needed other than maintaining servers, a website and a small office staff. Amazon has to buy and sell physical goods. Microsoft has to innovate. You just host and skim. Must be nice. Thanks again for finding a way to lower my payouts for next year. It is much apppreciated.


(So do I get a punishment now for being honest about my feelings? I await the answer with baited breath...)

Why the different royalty structure for vetta images?  If you're earning more per vetta sold, why should contributors accept less for their high quality work?

looks like the party's over. It's harder getting images approved than it used to be and now this. Why is everything changing so fast here.

Read enough............Off to open that bottle of wine that I saved for the weekend......

It shows up on your profile page under the "stats" tab.  At least it does on mine.  Mine's higher than I would have thought, but not high enough for me to make the next level.

paycut here too


this replaces punctum day which should have taken place in a few days??

this is definitely complicated and definitely bad for the contributors. the redeemed point system is ridiculous, how did they come up with those numbers? 1.4 mil for 45%, 140k for 40%, etc... you might as well make it 10 mil for 45% and 500k for 40%, etc... this is horrible


so istock basically wants us to work even harder to keep us at the rate we are currently getting paid out? you guys even noted on your annoucement that this is gonna be better for the contributors but i seriously see how that can be. you guys are starting us with a paycut right off the bat for the new year.


FML... this is not going to be pretty for anyone but "the man"....

wow I can't even read the pages before another is done! If you have a A badge it wouldn't be a good time to show up in here.

The only thing I have an issue with is the illustration model - there is a huge difference between level 22K & level 75K - shouldn't there be a level in between there somewhere? The photographers graph goes 12.5K, 40K & then 150K.


Just sems a little funny...

I uploaded a lot last vew weeks so I could reach silver and the new royalty early 2011...... All for nothing?....


7398 credits so far only 3,5 months to go. 


Istock: -1


 

As I remember - ten years ago or so - big greedy established stock agencies got caught out by iStock. They were complacent and err. . . greedy. How long before iStock wounds so many of their faithful that they too lose out to something new?

I feel cheated by istock. All the contributors here have worked so long and hard to build up amazing material, and work on their cannister levels. It's the thing that keeps us going. The chance to step up to the next level and get rewarded. Bang goes my long term planning.


I'm hoping contributor pressure will make them change their minds.


 

Could you make this any more confusing?!?!?! I need a manual anymore to understand company updates - it completely should NOT be that way! Take care of your own not alienate them, istock.

Read the announcement several times.  It may as well be written in Mongolian.  I haven't really liked anything istock have announced recently though.  We seem to have had quite a bit of bad news dressed up as good news.


It seems complicated.....I'm suspicious