To all you Fabulous Contributors at 123RF,
2007 was a spectacular year of growth for all of us at 123RF. We have had not one but two major site design changes to rebrand 123RF as a serious mover and shaker in the microstock industry.
We have also seen our contributorship grow in tandem in terms of numbers and also payouts! Sometimes we see highs of 15% monthly increases in overall payouts to you. On behalf of everyone at 123RF, I would like to thank all of you for submitting your works to 123RF and we hope that you would continue to keep on contributing in the months to come.
We have been thinking hard of how we can make your experience contributing to 123RF even more rewarding. Three initiatives were formulated.
The first is to slightly reduce the discounts that we're passing on to our customers across our credit packages. We feel that it would be safe to do so as even after revising our discounts, we would still remain the most competitive player in the market. As a result of this price change, the per credit pricing will be a little higher, and thus, we will pass on these additional earnings to you. This price change will kick off on May 1, 2008.
Secondly, we have also split the download sizes from 3 to a total of 5. We believe that if you spent good money on better equipment - you deserve the additional dues from submitting higher resolution images. This will also be implemented on May 1, 2008.
The third initiative is to introduce two additional Extended License options which are Print Only (limited to 10,000 copies) at 50 credits and Electronic Only at 75 credits. The fully comprehensive Extended License will be priced at 100 credits. From the introduction of the two additional Extended License options and from the feedback I personally received from our Account Managers; Customers will be less hesitant to pay for the Extended License versions of your works. This has already gone live as of March 3, 2008. The IT Team will continue tweaking the layout of the image detail page to ensure that Extended Licenses receives the exposure it deserves.
Let's look forward to a great and fruitful 2008 together. 123RF pledges to keep on introducing even more ingenious tools and intuitive features that will make 123RF a truly different microstock agency.
The announcement of the price changes and introduction of the extended licenses to our customers has been posted on our blogs:
http://www.123rf.com/blog/blog.php?idblog=b1000041Thank you very much!
Andy Sitt
Chief Executive Officer
123RF.com
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