iStockphoto to Raise Prices

Posted on 12/10/2007 by Julia Dudnik Stern | Printable Version | Comments (0)

As of Jan. 7, 2008, Getty Images-owned microstock iStockphoto is raising prices for photography and illustration. According to the announcement on its Web site, the move "balance[s] the creative needs of [iStock] customers with the financial rewards desired by excellent artists."

Last August, iStock raised the base cost of its credits by 10 cents to $1.30. The company also raised stock-video prices, doubling the low end from $5 to $10 but topping out at the same $50 for 1080 HD clips. Both credit cost and video prices remain the same; however, it will now take more credits to fund image and vector-art purchases.

iStock sells pixel-based images by size, and pricing is going up by 20% to 40% across all categories. Images previously available at $1, $2, $4, $6, $10 and $15 are going up to $1, $3, $5, $10, $15 and $20, respectively.

Vector art is priced based on complexity, ranging from basic to elaborate. Files that currently cost $1, $3, $7, $12 and $25 will retail for $1, $5, $10, $15 and $25 in corresponding categories. Earlier this year, iStock sold vector art at a much higher price point, with complex and elaborate pieces costing $20 and $40. The company lowered these prices in August and is now raising only the lower-end figures, with elaborate files staying at $25.

Credits can still be purchased in bulk, for up to 34% off on the largest purchases. After new pricing goes in effect in January, iStock will continue to honor credits purchased at 2007 prices. Though there has been no formal announcement of the price change, insiders speculate about its consequences. Some are banking this will drive sales to iStock competitors. Others suggest it is a sign of the eventual price stabilization across the entire industry. Some maintain that nothing iStock does will ever affect the traditional space or prices.

Copyright © 2007 Julia Dudnik Stern. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-461-7627, e-mail: wvz@fpcubgbf.pbz


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