Renowned microstock agency Dreamstime informed all contributors that as part of their community-centred efforts to relieve the effects of the Covid19 pandemic, as of June 1st 2020 they are increasing all royalty rates by 10% of the royalty value.
This raise applies to all sales and all royalty rate levels and hopes to aid artists that have lost other revenue streams during the world pandemic and consequent lockdowns and social distancing practices.
This isn't the only move Dreamstime has made towards helping out during these trying times, but it is the first focused on the creative community rather than customers or the public.
Dreamstime's 10% Royalty Rate Increase – How it Works
As it was recently announced, starting June 1st, 2020, as a Dreamstime contributor, all your royalties will be increased by 10% of their value. So for example, if you were perceiving 50% royalties, you will now perceive 55% after the increase.
This raise applies to all downloads and reaches all of their 620,000+ contributors, independently of exclusive or non-exclusive status. And will be maintained for as long as possible.
However, as the pandemic affected the economy worldwide and all businesses have been impacted by it, the company does not make any promises as to how big or small that time frame might be.
Dreamstime's Community-Aimed Efforts During Coronavirus Times
The agency has said they are doing this small financial increase to try and help out those contributors who have lost other sources of income due to the worldwide Coronavirus pandemic and its effects on their activities –photographers who no longer can do photoshoots or take commissions, for example.
Additionally, they have also put together resources for creatives, such as tutorials and guidelines to help them make the best out of their stock images during these times.
Dreamstime's Actions to Help Everyone
These are the most recent decisions Dreamstime has taken to assist its network of creatives in this challenging moment we are all going through. But the company has also taken action to help everybody else:
- Society as a whole: Since March, Dreamstime donates 5% of their sales profits to the WHO Solidarity Response Fund, to help find treatment and a cure for Covid19 disease.
- Employees: Dreamstime has mentioned they are committed to granting financial stability for their staff.
- Customers: The agency makes it possible for subscribers to pause their plan for up to 2 months and resume it in hopefully better times, at no added charge.
- NGOs: They are also giving away free subscriptions for NGOs and non-profit organizations needing visuals.
What do you think about Dreamstime's efforts to help artists, customers, and everyone during this global pandemic? We'll love to hear it from you!