HQ: Royalty Rates Rollover - Effective December 31st

First, we wanted to say thanks to those of you participating in or following the continuing dialog of the past few weeks. We'll never be able to answer every question or address every issue as quickly or as completely as we wish we could, but we're working to improve in this area and will continue these efforts. As Rebecca has explained in her recent comments, the increased communication is something we're dedicated to and plan to continue. 

Several key topics have surfaced through this dialog, there are specific conversations happening on many of these elsewhere in the forum and we hope you will continue to participate. One topic that's especially important to all of us is Best Match - we are listening to your comments and continue to work towards improvements and/or clarifications in this and other areas being discussed.

As I'm sure everyone reading this knows very well, the stock industry is in a constant state of evolution, and as a result iStock is too. But one thing that we've been reminded of through the recent discussions is the importance of our amazing contributor community here at iStock. We take responsibility for being neglectful on this front and we're committed to getting things back on track. We know it'll take time and we understand that actions speak louder than words. We also accept that things have never stopped changing around all of us since the old iStock days, so our goal is not to recreate that time, but to establish the new version of iStock – one that maintains as much of the original spark as possible while also making sense in the current and future states of the stock industry.

With all of this in mind we assessed additional actions we could take that would positively impact the greatest number of contributors, and would also make sense to the overall business. The answer we came to is rolling all current royalty rates as of December 31st into 2013.

This means:

• If you moved up during 2012 by hitting new levels/targets you will stay at your new rate going into 2013
• If you have not made it back to your 2012 level you will not move down on Jan 1, instead you will stay at your current level/rate going into 2013
• RC counts will still reset as of Jan 1, the 2013 RC targets will remain as they are, and if you reach a new level target during 2013 you will automatically move up

We understand that not everyone benefits from this announcement, but as stated above our analysis showed this to be the most effective way to impact the largest number of contributors quickly and effectively. Thanks for your continued patience and commitment.

Yeah this would have been 100% more helpful last year!!!  My entire budget for models and venues was taken last year this year means nothing doesn't change things a lick!


 

Roll back to 2011 I want my 40% back that I earned!!!


 

While it doesn't affect me it's nice to see something being done for the benefit of the majority of the contributors; sorely lacking here recently.

Mr. Erin:  Any chance you'd be willing to bump people up that fall within 500 RCs of their target?  Considering that you could be essentially giving a bump to people that didn't come close to the target, I figure this would only be fair.  Obviously I'm hoping to make it still on my own, but I just thought I should throw out the question.  Thanks!

Thanks member mr _Erin for your post.Get yourself a nice strawberry milkshake and put your feet up for 20 minutes.

This is really a good news for those who were about to move down in royalties due to not able to make it to their current level especially due to site related issues. I was hoping to make it to the next RC level based on my performance upto Aug 2012 but site related issues have stopped me getting to the next level. Hope IS will take action to help contributor like me.

Doesn't affect me but good breathing space for those close but were likely to miss out. Yep BM is a shambles, goodluck sorting that one out. Keep up the good work though .

Now... I am absolutely convinced that this is a very positive, smart and honest move.

Thanks for fighting & thanks for this, Erin & staff... wicked.

Maybe better solution to get more contributors satisfied is to change royalities from 45%-50%, from 40-45%, from 35-40% ... In that case people that reach new RC level will be satisfied and also people that did not reach a new level by RCs will be happy because their income will stay on same percentage due to this royality change no matter they did not reach new level. And I think this change will give people more energy and motivation to do more and send more in coming year to reach higher levels of income. Any way this all new words directly from people in HQ are positive and good move that can make this place even better for all of us.  


This news will bring smiles back to some hard working people here in coming Holidays! Thx!

(Edited on 2012-12-19 14:08:16 by vgajic)

Good for those who are affected and it's nice to see some action in this direction.

Yes, good for those affected, hope this helps some people.

Would love to get my very hard earned Diamond status back, hopefully in the future contributors here can be treated like the rest of the digital industry with a balanced fair approach and not one based on performance volume when bugs, fierce competition and other factors affect this performance exponentially and out of our control.


I reached my 2012 level for 2013 regardless of these news but I wish for a lot of hard working contributors this news helps them get a better 2013.


I still believe that if iStock remained in the earlier model or a fixed fair one, the company sales would be way up and artists would be bringing even more craft and quality to their work instead of taking cost cutting measures.


I hear things evolve, hopefully this is a small step for a rework of a system that in the future is fair for buyers sellers and the company alike.


Have a good 2013 all!


 


 

Agree with previous posters, doesn't affect me but hope it helps out.

Perrrrrfect! Nice! Very wicked! 


 

Well, nothing changes for me but I appreciate the effort for my colleagues.


Well Done.

Same for me and agreed.

This is most welcomed news! I, for one, am on the cusp of possibly not making the same commission for 2013. It was pretty much going to be going down to the last day of the month to see if I would make it or not - that's how close to the bar I am for this year.


I am most grateful for this gesture. Especially in light of the hit in sales since September. A BIG THANKS those that are responsible for this wonderful decision.


Now I'LL sit back with a strawberry milkshake with my feet up for the next 20 minutes!

I think this is a positive message. Really. Let's work together to reach the top, again. 


 

Thanks for shaking the loose change out of the couch.