Another Agency to Change Pricing Due to VideoBlocks Marketplace? July 17, 2015
Has another stock footage agency changed their pricing structure due to VideoBlocks’ new Marketplace?
In mid-April, VideoBlocks launched their new “Marketplace” to customers. If you are unaware of what the Marketplace is, it’s a library of pay-per-download video clips only accessible to VideoBlocks’ paying subscribers.
Traditionally, VideoBlocks was known for being primarily a subscription service, meaning users of the service are able to download as much as they want and only pay a single monthly fee. But they were limited to the VideoBlocks subscription library, which isn’t as vast as other non-subscription stock agencies. In order to keep users on the site and quickly grow their offerings, I believe VideoBlocks opened up the Marketplace and let stock producers–like myself–contribute files and retain 100% of the royalties (minus processing fees). Prices for clips in the VideoBlocks Marketplace are set at $199 for 4K and $49 for HD.
This marketing strategy seems to be having a rippling effect across the industry.
First, ShutterStock lowered their 4K pricing from $299 in early July, which coincidentally matches VideoBlocks’ $199 price point. Now it seems another agency is doing the same.
Dissolve has just announced they will be lowering their 4K prices from $300 to $199 by the end of July.
Are these two significant price decreases a direct result from VideoBlocks’ aggressive and competitive Marketplace pricing? There’s no way to be sure, and I am only speculating in this post. But I can’t help to think this is more than a coincidence. Take a look at my sales data at one of my major agencies for the weeks leading up to and after the launch of the VideoBlocks Marketplace. If my numbers are indicative of sales as a whole, other agencies may be seeing a similar downturn in sales since the VideoBlocks Marketplace went live.
One thing I can say for sure is that pricing for stock video is starting to take a downward shift. Inevitably, as more contributors come on board shooting more topics and scenes, the prices will begin to drop as inventory rises. It’s simple supply and demand. The retooling of prices at these two agencies may only be the first of many more price changes in the future.0