Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact firstname.lastname@example.org.
Stock photo co-op demonstrates the power of giving photographers real ownership, a 50% royalty on each transaction and 90% of profits.
VICTORIA, British Columbia, Oct. 10, 2013 /PRNewswire/ -- Stocksy, a stock photography co-op that launched on March 28, 2013, announced today that the startup is on track to become profitable by November. A photo collective and online market co-owned by more than 400 photographers, Stocksy has accomplished this feat while giving members a 50 percent royalty on each transaction and 90 percent of profits.
A lean startup with just 10 staff, Stocksy is dedicated to paying owner photographers the highest possible fees for their work so they can enjoy a stable, sustainable career. Started by Bruce Livingstone, the founder of iStockphoto, Stocksy empowers photographers with co-ownership, profit-sharing and the highest royalties in the stock photo industry.
"The Stocky model has delivered way faster than we ever expected," said Livingstone. "Just six months after launching, some of our photographers are earning a good living from Stocksy alone. The sense of equality and respect that comes with co-ownership is a powerful motivator, and it's helping our company become profitable much faster than the average startup."
Since March, Stocksy has grown from an initial group of 10 photographers to over 400. The online library now offers more than 42,000 high quality photos. Company revenue has grown by over 35 percent each month, and 70 percent of customers are new customers.
Photographers who apply to join Stocksy are carefully reviewed by the Stocksy team and co-op members. The stringent selection process ensures that the photo collection maintains its high standard of quality and individuality.
"We aim to provide customers with authentic, realistic and truly special photos," said Livingstone. "Partnering with the world's most talented photographers is crucial to maintaining this high standard."
So far, the biggest customers have been corporations, including Publicis Omnicon Group, the world's largest advertising firm, and a number of Fortune 500 tech companies.
"Our revolutionary structure is the key to making photographers true stakeholders and fellow entrepreneurs in this endeavor. We want them to make a real living, enjoy their work and have a voice in the direction of the co-op. We've already seen clearly that this leads to much higher quality work than the alternatives."
To view the Stocky photo collection, visit www.stocksy.com
Stocksy is an artist owned cooperative founded upon the principles of equality, respect and the fair distribution of profits. Created by veterans of iStockphoto and its founder Bruce Livingstone, Stocksy provide sustainable careers through profit sharing and co-ownership. Stocksy shares 90 percent of profits with co-op members and pays the highest royalty rates in the industry. The company was founded in Victoria, BC, Canada, in March of 2013.
©2012 PR Newswire. All Rights Reserved.