This topic is in the 2009 archive. You can read it and like its posts here. It is read only.
Archive 2009Mpix Pro Rights Grab
p.2 #1Mpix Pro Rights Grab
mdude85 wrote:
I'm glad that MPIX changed the wording.For Shutterstock to make $176,000 off individual 1-cent charges, they would need to charge 17.6 million subscribers, but they only have about 180,000 active photographers, so the most they could probably make from 1-cent charges is $1800.
And that's BEFORE the credit card company's charges. They are most likely LOSING somewhere between $.25 and $.50 a transaction.
pamkel wrote
To verify your identification they want either a copy of your passport or drivers license or use a credit card by charging .01 cent to the account. One cent identification verification alone gave them $176,000 bucks.I'm glad that MPIX changed the wording.
And that's BEFORE the credit card company's charges. They are most likely LOSING somewhere between $.25 and $.50 a transaction.
Jul 28, 2009 at 09:46 AM
p.2 #2Mpix Pro Rights Grab
I doubt they are losing money, but my guess is that they are not making any money at all. The typical charge percentage for merchants is around 2-3%, so it would not make any sense that they would lose $.25-.50 on a $.01 charge. Maybe there is a special annual fee for those $.01 verification charges, since they are quite common these days.
Jul 28, 2009 at 10:10 AM
p.2 #3Mpix Pro Rights Grab
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Edited on Jul 29, 2009 at 04:56 PM · View previous versions
Edited on Jul 29, 2009 at 04:56 PM · View previous versions
Jul 28, 2009 at 02:23 PM
p.2 #4Mpix Pro Rights Grab
mdude85 wrote:
I doubt they are losing money, but my guess is that they are not making any money at all. The typical charge percentage for merchants is around 2-3%, so it would not make any sense that they would lose $.25-.50 on a $.01 charge. Maybe there is a special annual fee for those $.01 verification charges, since they are quite common these days.
Many vendors get charged $.25-.50 per transaction, plus the 2-3% charge (these are always negotiated). This is why you often see smaller operations refuse to take credit cards for transactions of less than $10-$15. A $.50 + 3% charge on a $10 bill could easily eat up more than your profit margin.
pamkel wrote:
Oh, my gosh. I have terrible math don't I?? My apologies. OK, help me out with this one since I have such a problem with zeros.
40,000 photographers belong to a image hosting service.
If the cheapest monthly package is $30.00 how much are they taking in monthly and (since I'm bad with zeros) yearly?
How is this relevant to your prior mistatement/lie about their service?
I doubt they are losing money, but my guess is that they are not making any money at all. The typical charge percentage for merchants is around 2-3%, so it would not make any sense that they would lose $.25-.50 on a $.01 charge. Maybe there is a special annual fee for those $.01 verification charges, since they are quite common these days.
Many vendors get charged $.25-.50 per transaction, plus the 2-3% charge (these are always negotiated). This is why you often see smaller operations refuse to take credit cards for transactions of less than $10-$15. A $.50 + 3% charge on a $10 bill could easily eat up more than your profit margin.
pamkel wrote:
Oh, my gosh. I have terrible math don't I?? My apologies. OK, help me out with this one since I have such a problem with zeros.
40,000 photographers belong to a image hosting service.
If the cheapest monthly package is $30.00 how much are they taking in monthly and (since I'm bad with zeros) yearly?
How is this relevant to your prior mistatement/lie about their service?
Jul 28, 2009 at 02:42 PM
p.2 #5Mpix Pro Rights Grab
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Edited on Jul 29, 2009 at 04:56 PM · View previous versions
Edited on Jul 29, 2009 at 04:56 PM · View previous versions
Jul 28, 2009 at 03:45 PM
p.2 #6Mpix Pro Rights Grab
It doesn't seem that you've asked a question... Also, what does shutterstock have to do with this thread? I'm thoroughly confused.
Jul 28, 2009 at 03:55 PM
p.2 #7Mpix Pro Rights Grab
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Edited on Jul 29, 2009 at 04:57 PM · View previous versions
Edited on Jul 29, 2009 at 04:57 PM · View previous versions
Jul 28, 2009 at 03:59 PM
p.2 #8Mpix Pro Rights Grab
Oh I see. 40,000 x $30 is $1,200,000.
Shutterstock has absolutely nothing to do with this thread.
Silly me. My apologies.
Shutterstock has absolutely nothing to do with this thread.
Silly me. My apologies.
Jul 28, 2009 at 05:05 PM
p.2 #9Mpix Pro Rights Grab
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Edited on Jul 29, 2009 at 04:57 PM · View previous versions
Edited on Jul 29, 2009 at 04:57 PM · View previous versions
Jul 28, 2009 at 07:03 PM
p.2 #10Mpix Pro Rights Grab
Remember, in business it is not so much about avoiding every error, but how you correct those errors after they are made. Good move Mpix.
Jul 29, 2009 at 10:57 AM
p.2 #11Mpix Pro Rights Grab
pamkel wrote:
pyrodenny commented,
that's neither her nor there because that's not what the jargon is intended for, but continue to argue your nonsensical drivel.
pyrodenny commented,
Earlier quote
not if Mpix sets up an account on shutterstock or something and dumps a huge amount of uploaded photo's from "us"that's neither her nor there because that's not what the jargon is intended for, but continue to argue your nonsensical drivel.
Jul 29, 2009 at 01:38 PM