POSITIVE MOVE TO EMBRACE GROWTH, NEW MARKETS AND DIVERSIFICATION
For the first time since inception in 2012, Stocksy United, an artist-owned photography + cinematography co-op, is removing its original artist and employee multi-stakeholder class limits, and opening the doors to new contributors. Stocksy’s member-owners have decided to expand its membership bases to meet ongoing client demand, succeed in new markets, and remain relevant and competitive through ongoing diversification.
The vote for removing the membership limit was run through the company’s new co-op resolution process which was carefully designed to utilize a balance of automation and valuable ‘old-school’ committee work facilitating transparency to, and voting by, its members who are spread out over 65+ countries speaking a myriad of languages.
With a 1,000 member limit in place for contributing artists, Stocksy found it necessary to regularly review and remove inactive members. By removing the limit, the company can now allow for an increase in the number of co-op members while also retaining current members and their content. With this change, Stocksy can continue to grow its existing collection of close to 1 million highly curated photos and videos while giving new photographers and filmmakers the opportunity to work alongside some of the most talented visual artists in the industry.
“Our members recognize the need to further broaden the content we can offer to clients and have made a bold step to make that happen by voting to remove the membership limit,” said Michael Cook, VP Operations, Stocksy United. “This change allows us to further solidify Stocksy’s position as a leader in the industry, as well as the go-to stock house for content. We want to be the first, and last place creatives look for exceptional imagery and video. We are excited about how this change will help us advance our co-op while demonstrating how effective the platform co-op model is.”
Unlike many other stock agencies, Stocksy’s members are partners and have a true say in the business direction, which has led to the company’s ongoing success. To that end, the company will institute a yearly vote where members can choose to “freeze” membership growth for the following year.
Dedicated to supporting artists’ careers and making its community the number one priority of the business, Stocksy is considered a creative technology co-op that is doing it right. Built on the notion of championing creatives, empowering artists and making sure that every voice is heard, Stocksy welcomes this new change and is excited for the new challenges and anticipated growth.
In fact, Stocksy will not only continue to curate inspired content that challenges traditional ideals and stereotypes, but will ensure its artists continue to receive the highest royalties in the industry (50-75%). In 2017, the company paid out $5.7 million USD in royalties and $300,000 USD in dividends to their artist-shareholders.