Simplification of the purchase process & price adjustments
we hope our message finds you in good health and safe in these times. This is not a promotional newsletter. You are receiving this message because you have registered at www.panthermedia.net and the information contained herein relates to our contractual relationship through your registration.
Due to the current challenges posed by the Corona situation, but also due to strong competition from free image platforms, we have decided to adapt our offer to these developments. As a first step, we have made some simplifications and price adjustments that we would like to share with you.
After detailed analysis of the last 3-year statistics and the actual download development, we came to the conclusion that our price structure is too complex and in some areas we appear more expensive than our competitors. The objective of our simplifications and price adjustments is to make the prices more competitive without lowering the actual average price of purchased images. We believe we have achieved this well with the model described in the following, as the average price rises for approx. 85% of the images, while the prices of some less popular products are lowered and some resolutions or products have been completely removed in favour of the products that have shown higher demand.
We have made the following adjustments:
• We have reduced the number of pack options offered online per resolution to 3 packages + 1 temporary special offer.
• The small package has become a little more expensive, while the very large packages became slightly cheaper.
• The weighted average price has remained the same with same download allowances rates. However, we anticipate increased demand for the larger packages.
• Here we have removed the largest subscriptions from the online offer.
• There are now a one month and annual subscriptions on offer.
• The prices have been adjusted slightly. The small subscriptions have become more expensive in order to make larger options more attractive.
• In particular there are now no longer any large subscriptions that are comparable to those of the large international agencies, on the website as these are practically not in demand online.
• We are shifting the focus away from the subscription to flexible order types such as buy it now, credits and picture packages.
• The number of package sizes that can be selected online has been reduced to 4 sizes.
• The prices of the credits have stayed the same, but we have introduced a temporary special offer for the 1,000 credits package.
Single image purchasing:
• Here we have made the most extensive changes.
• We have reduced the number of available resolutions to three.
• Blog resolution was deleted without replacement. This increases the entry price to the higher price of the web image.
• The S and L licenses have also been withdrawn, so that only the highest resolution (XXL) is offered in addition to the M license. This will have a positive impact on the average price.
• So far there were multiple collections: a low price entry-level collection with approx. 85% of all pictures, a more expensive collection with pictures that have sold and the partner collections. We are now putting all of these collections together into one price tier.
• There is now only one price for all images (except Premium, RM, Editorial, Video and 360 degrees). We are starting with the following temporary introductory prices. o Web: 4.90 euros or 3 credits o Small: 14.90 euros or 10 credits o XXL: 19.90 euros or 15 credits
The special offers and introductory prices are valid until December 31, 2020. However, we reserve the right to permanently introduce these prices after this date, depending on the acceptance and success of these price changes. If these prices are made permanent, we will inform you in due time in mid-December.
The corona situation brings it’s own challenges into the business of our customers and appears to be shifting the demand from future downloads (prepaid packages) to current needs (instant purchase, small credit and picture packages). We have now become more competitive in this space, but at the same time we can raise the average price. The competition from free platforms can not be met through price, but by the always important focus on quality, service and legal security at PantherMedia. We will get stronger in this area, too - together with your support!
We wish everyone a successful year-end business. Stay healthy!
Robert Walters and Tomas Speight
Panther Media GmbH Rüdesheimer Str. 11 80686 Munich Germany +498920002130