Author Topic: Pond 5 puts an end to setting our own prices from August 24 2024. (Read 2735 times)

bestravelvideo · « **on:** August 08, 2024, 11:16 »

Here's an extract from their email, sent to all artists today August 8 2024:
"To understand how customers would respond to a simpler pricing model, we ran a test for US customers in which all video clips were split into two price tiers, Standard and Premium. The results have been encouraging! The test significantly beat expectations for critical metrics, including increased buyer engagement and driving more revenue.
The new video price tiers will be implemented across all currencies on Pond5, and the Contributor Agreement will be updated effective August 22, 2024. A copy of the new Contributor Agreement can be found here.
We appreciate your ongoing partnership and adaptability as we work to optimize the uploader to account for the new price tiers. For now, please set prices for any new content as you always have, and our tools will place it in the appropriate tier"

What they don't mention is who and how are they going to decide where each video goes.
They could at least say they are going to send clips to Standard or Premium tiers based on resolution, past sales, keywords for content need or I don't know what.

It's disappointing they omitted that part.
They also do not mention the new prices in any case.
Furthermore, where is that metric available to read?
How many were the participants?

As for the da facto status they put us with no more being able to set our prices,
their house, their rules.
If you don't like it, do what you think it's best for you.

jjneff · « **Reply #1 on:** August 08, 2024, 11:43 »

On a glass half full I have seen way too many clips priced too low, I am not opposed to this as the confusion was too high on pricing. The 60% stays which was important to me. If it drives more customers I am all for it.

mino216 · « **Reply #2 on:** August 08, 2024, 11:50 »

I understand it that you set the price and then it will be moved to apropriate tier according to what you have set. For example, if you set below 40 usd (29, 35, 39, does nit matter), it is going to be standard and will be for 29 usd for example. If you set higher, it will be premium for 59 usd even if you set 41 or 79 usd. I have made the prices

blvdone · « **Reply #3 on:** August 08, 2024, 12:54 »

I'm very happy there will no longer be $25/HD $27/4K videos out there. Good job Pond5!!!

stoker2014 · « **Reply #4 on:** August 08, 2024, 13:04 »

Quote from: blvdone on August 08, 2024, 12:54

I'm very happy there will no longer be $25/HD $27/4K videos out there. Good job Pond5!!!

Depending on the country, buyers see different prices. In some countries, buyers see 4K for $20.

wollwerth · « **Reply #5 on:** August 08, 2024, 17:56 »

Honestly, I was pretty happy with the change in pricing. The sales I had on the site were for an amount higher than I had set them. I didn't feel like I was asking for too little either. So if they feel they can get more, let them go for it.

Camillo · « **Reply #6 on:** August 08, 2024, 20:03 »

I neve make any sales at pond 5 yet continue to upload. I welcome any changes that improve sales.

bestravelvideo · « **Reply #7 on:** August 09, 2024, 06:02 »

I think Alexander summarises nicely at the end of his post all the valid questions we as contributors have about the new pricing model:
https://brutallyhonestmicrostock.com/2024/08/09/exciting-times-ahead-pond5-reduces-1000-prices-to-just-two/

I'd like to see when and how Pond 5 will react.
It's a simple question: Did they forget to add the details? I'm pretty sure they didn't. Why? Haven't they decided yet?

Mantis · « **Reply #8 on:** August 09, 2024, 06:16 »

Most should have known that once SS got a hold of P5 game over. This will NOT be the first time they play with pricing (and ultimately the percent we get). All the way to the point where we will be happy with 99 cent royalties. And just to set some scaled thinking, last year I got 2-5 video sales a month (~$1500 a year). Now, none. Somehow whatever they did to the search has screwed me. Some of my files have almost no keywords in them. I looked up one of my most popular time lapses and all the main keywords were missing. Then I looked at a few others, same thing. Then I looked at non sellers and those keywords were intact. Something really wonky is going on over there aside from just the pricing.

danielstassen · « **Reply #9 on:** August 09, 2024, 06:54 »

Simplifying pricing is a good idea. Now, let's hope that we can generate more sales! Time will tell...

PCDMedia · « **Reply #10 on:** August 09, 2024, 09:38 »

Quote from: bestravelvideo on August 09, 2024, 06:02

I think Alexander summarises nicely at the end of his post all the valid questions we as contributors have about the new pricing model:
https://brutallyhonestmicrostock.com/2024/08/09/exciting-times-ahead-pond5-reduces-1000-prices-to-just-two/

His comment
"...the management at Pond5 are being forced to match Shutterstock’s pricing points and (close to an) all-you-can-eat subscription models."

appears to be off-set in part at least by Pond5's statement in their email:

"Pond5 customers prefer licensing individual assets over subscriptions because their work is project-based."

Jo Ann Snover · « **Reply #11 on:** August 09, 2024, 09:58 »

I know this thread is about changes at Pond5, but I thought it worth noting a comment from Paul Hennessy in the recent earnings call for Shutterstock's Q2 results. I don't think unlimited subscriptions are a good thing for contributors and the mention of growing content, including video, via this approach can't be good news:

Quote

In addition, with Envato, we believe that we are poised to fill a void in our content product suite with respect to unlimited subscriptions. When combined with our existing business, Envato is expected to have an immediate positive impact on both the sustainability and growth potential of content with subscriber counts more than doubling to 1.15 million subscribers. Subscription revenue as a percent of total content revenue increasing from 48% to 55%, and revenue from content types like video, audio and 3D growing from 35% to 45%.

Shutterstock's content business shrank by 9% in Q2 2024 and one of the analyst questions was about what SS was doing to bring the content business back to growth. "simplifying" Pond5 was part of Hennessy's answer:

Quote

You saw that we had sequential improvement, albeit not to the pacing that we would like. I think Jarrod guided for continued sequential improvement. So, the business is coming back, it's not coming back at the pace that we wanted. And why do we believe that that's happening? We think there's an opportunity to actually simplify our product offering and we've done that in real time both with our PremiumBeat offering, with our Pond5 offering.

With PremiumBeat, for example, we've moved to subscription based kind of more of all-you-can-eat than individual tracks. We see that change happening in the marketplace. We want to make sure we offer customers exactly what they're looking for and the way they're looking for it. In Pond5, we just had a litany of offerings and plans and now we've simplified that. And we believe that there's been a gap. And there's been a gap in an opportunity to offer more unlimited products. And not surprisingly, we think Envato fits nicely into that product opportunity for customers.

So, I think if you think about what we're doing, this is not about the demand for Shutterstock. Customers continue to come to us looking for our products and services. This is about getting them into the right products and being competitive in the marketplace from a pricing perspective, from a simplification perspective, and just having what they need. And that's going to take us a little bit longer than we thought, but we are absolutely committed and confident that the Content business gets back to growth.

wds · « **Reply #12 on:** August 09, 2024, 16:20 »

Interesting, thanks. From my viewpoint, SS has already "fell through the floor", so it can't get much worse. We'll see what happens with P5...I like the uniform pricing, but otherwise we'll see.

Noedelhap · « **Reply #13 on:** August 09, 2024, 17:58 »

Knowing Shutterstock, they'll ruin Pond5 as well. I doubt this change will benefit us in any way long term. It will eventually be simplified even further. Within 5 years the Premium category will disappear, because it will be all-you-can-eat unlimited pricing across the board. Sorry for the negativity, I just don't trust anything coming from them.

stocker2011 · « **Reply #14 on:** August 09, 2024, 18:45 »

Quote from: blvdone on August 08, 2024, 12:54

I'm very happy there will no longer be $25/HD $27/4K videos out there. Good job Pond5!!!

I'll be happy if they rebalance the pricing structure as well.

Evaristo tenscadisto · « **Reply #15 on:** August 10, 2024, 14:07 »

I don't think it will be great news but perhaps the usual "exciting" ones that we are used to from SSTK.

I've sent an email and the response was towards: bla bla bla ....stock licensing market evolution.... bla bla bla... more competitors offer low-cost unlimited subscriptions!
That's why.... Bla bla bla... P5 maded some tests and is considering revising their pricing model to better meet the needs of today’s buyers.

Furthermore... bla bla bla...they will have 2 tiers. We will be able to select which tier we want to put in sale...

However, upon reviewing the new agreement (effective from August 22, 2024), P5 can choose or adjust the price or tier.
They already have the ability to adjust prices, though the adjustments have often resulted in lower or significantly reduced rates (sometimes less than 10%).

I’m curious if the ability to set prices or choose future tiers for contributors is merely a marketing strategy.
According to the agreement, P5 ultimately retains the authority to decide on pricing and tiers.

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Author Topic: Pond 5 puts an end to setting our own prices from August 24 2024. (Read 2735 times)

bestravelvideo

jjneff

mino216

blvdone

stoker2014

wollwerth

Camillo

bestravelvideo

Mantis

danielstassen

PCDMedia

Jo Ann Snover

wds

Noedelhap

stocker2011

Evaristo tenscadisto

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