Oh boy! In the never ending race to the bottom, Getty owned iStockphoto went from $14 net sale to less than a buck per image in the world of microstock. (My thoughts on Getty can be found here). For those of you who are not in the stock biz this means for the average pro photo shoot with working models, assistants, lighting, makeup etc, the price went from taking 10 years to pay for a shoot to basically never paying for a shoot. (Meaning actually making a profit, which was of course impossible at the $14 level).
I know of no company on the planet that forces its prices downward so consistently as to economically wipe out the very people that provide them with the ability to sell their products. It’s like a snake that is so big it does not realize it is eating its own tale.
iStockphoto Lauches New Subscription Model, Pays Contributors as Little as 28 Cents Per Image Download.
The change has sparked a lively discussion in iStock’s forums. One user noted that he just netted over $14 for a single download, which would have netted him less than $1 if downloaded under the subscription model.
iStockphoto Lauches New Stock Subscription Model