Photo agency Getty has sent a new contract to its editorial contributors that specifies a flat 35 percent royalty for all sales, reports PDN.
Under the current arrangement, photographers could get as much as 50 percent revenue per image sale. But photographers who don’t sign the new contract will be terminated, PDN says.
Getty’s plan is to lower the prices it asks for photos, in order to better compete with low-priced competitors. But when PDN asked about this, a spokesperson said: “[W]e are developing new ways for customers to use more of our content and as a result, new ways to pay contributors must be created in these situations.”
But, Getty says, there are a few upsides: Getty is “‘making changes and improvements around how we share and license our content, which will benefit our photographers,’ by providing more exposure and more potential for sales of their images,” the spokesperson told PDN. Hmm.