Shutterstock new earning structure changes for its contributors good news or bad?
Shutterstock has recently changed its payment policy for its contributors. While it seems a bad thing, there might be a treasure hidden in it!
COVID 19 has hit all the businesses right from the small to the largest of brands. Alike the other businesses, the digital content creators have also had a hit on their earnings and Shutterstock and its content contributors being a brand completely dependent on the digital income has also suffered the heat of this pandemic since the lockdown has kept all the agencies and offices shut for almost 3 months. Due to this Shutterstock has come up with a new payment terms plan that would help both the customers and the contributors to balance out the share.
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Shutterstock has introduced fair and square new payment terms for the contributors. Shutterstock recently shared an email with all its contributors that the payment terms will be changed for all the contributors after 1st June 2020. Earlier, the contributors used to get 0.25 cents per image depending on the no. of lifetime downloads the contributor had reached. But as per the new payment terms which have already been applied to start 1st June 2020 Shutterstock has divided the contributors into levels that are between 1 to level 6.
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Each level has a target based on which the contributor will be sharing the revenue of 15% - 40% of the amount the image is been sold for eg if your image got sold for 100$ and you are a level 1 contributor you will get $15 flat in your account but there is also another side to it if the person who is buying your image has a subscription plan then the price may vary as per the plans LINK of subscription plans for buyers but at the same time, there are targets that a contributor needs to cross to reach to another level and based on the levels the contributors can earn maximum up to flat 40% of the amount per image is sold for. Checkout the below video to know in detail about the targets for each level and new terms to earn 40% of each image you sell
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