Despite the reduction in commission rate from 60% to 50%, Alamy remains one of the most competitive stock image companies in the market for contributors, indeed the most competitive out of all the leading agencies.
When Alamy launched 12 years ago it challenged the status quo by offering the best rates in the industry. As market conditions have changed so too has the Alamy offering. In that time Alamy has changed from a single product company to one providing a whole range of visual stock media, including news, sport and entertainment as well as video and creative imagery. These developments have been implemented to drive revenue and competitiveness and so ensure a sustainable and successful proposition for contributors.
Commenting on the changes, James West CEO of Alamy said, We’re investing for our future. When we last made a change to the commission rates it was to fund our expansion into the US and today that area of the business accounts for over 40% of our sales. We are going to invest the extra revenue from this change in R&D, new products and services and new marketing initiatives. In fact, we have made some significant investments already. Last week we announced the introduction of Alamy iQ and in October we introduced an enhanced search tool designed for the creative industries. We have ambitious plans to gain market share from our competitors and grow the business.
Over the next few months the company plans a new look and feel Alamy website with increased functionality, clearer and simplified navigation and a generally enhanced user experience.
Details of the changes to Alamy’s commission structure have been communicated to all Alamy contributors and the changes will take effect from January 2013.
- James West discusses these changes here.