Istockphoto founder Bruce Livingstone has just launched a new artist owned stock photography company. Right off the bat what sets this stock photography co-op apart from others is the 50/50 split of the royalties, other stock photo businesses like Getty Images take an 80/20 split.
Stocksy is a cooperative designed to respect the work of the artists and whose revolutionary system of shared ownership will allow for a sustainable career for all participants in the marketplace. On top the the 50/50 revenue split, at the end of the year 90% of all Stocksy’s profits will be distributed back to the co-op members. Another unique aspect to Stocksy is that all photographers who are accepted into the cooperative also receive equity in the company and will have a real say in how the business is run.
I think that this could be a huge deal in the stock photography market, simply based on the revenue splits and yearly profit sharing this is likely to be a major pull to stock photographers. If I were Getty Images or other stock photo websites I would look out, because Stocksy is going to be poaching your photographers.