We are continuously looking to expand opportunities for Shutterstock contributors. We have recently concluded a few deals that represent new market opportunities to increase overall footage earnings while protecting the value of your content.
In recent years, we have seen the emergence of online platforms that cater to a new audience with limited use cases for footage content, such as short-form digital projects and website builders. In order to capture this opportunity while protecting the value of your content, we are testing special deals with very limited license use. For instance, users of these platforms do not have the ability to download these files or use them for any other platform or in any other place, and often only leverage a few seconds of a clip for a mobile optimized experience.
By offering content directly on these platforms, we expect to drive incremental sales by creating a new market for your content that requires only a very limited license that does not jeopardize existing sales through our website. The sum of these platform license sales should only increase total earnings per month even if they come at a much lower per-clip payout, which we feel is justified given the limited license granted.
For instance, we partnered with the online platform Wix, a website builder that empowers photographers, musicians, small business owners, entrepreneurs, brides, students, and the like to tell their stories and create beautiful websites as part of their digital presence. Through our exclusive partnership with Wix, we have expanded the footage marketplace by reaching millions of new potential customers that can generate incremental sales for footage.
As a result of this agreement, Wix customers can search through Shutterstock Videos and select the right clip to use on the Wix platform.
The ease at which a Wix customer can select the right clip and embed it directly into their project is a very powerful sales proposition. Note that Wix customers do not have the ability to edit or download clips or use them on any other platform. And each Wix customer has to pay for each clip used.
While these deals allow us to reach new customers and create incremental earnings for contributors, we are also working to raise the overall value of your content in our marketplace. We are achieving this by constantly reviewing our prices, promoting the purchase of higher resolution clips that sell for a higher average cost and expanding our offering to enterprise customers with wider licenses that command higher prices. As a result of raising prices on SD, Web and in some currencies HD resolutions, as well as driving the mix towards more HD and 4k footage, we have seen a positive trend of footage payouts for contributors overall.
As always, we value your feedback and continue to work on improving our site, the experience for buyers and contributors alike. Thank you for your partnership.
Cover image via NeagoneFo.