Photographers are facing a growing problem over unpaid royalties with equity agency EyeEm reportedly struggling.
As reported by Photo Archive Newswere there concerns about contributing stock photographers not being paid money owed to them.
EyeEm’s owners, Talenthouse, blamed the problems on changes to new accounting procedures and “global events”.
“We would firstly like to acknowledge that the Talenthouse AG group of companies, particularly recently, have experienced delays in issuing payments to some of our creatives and we are aware of social media reports indicating that Talenthouse is late paying its creatives,” a spokesperson told Photo Archive News.
“Even missing just one Creative’s payment is unacceptable,” it adds.
Talenthouse says it thought the quieter summer months had started the process of centralizing accounting and cash management systems, as well as restructuring newly merged finance teams.
“This is an arduous process and challenge, but it will better facilitate timely payments to our global creatives,” it says.
“Capital markets are also severely affected by global events, which further affects the operations here at Talenthouse. In the meantime, we are making manual payments to all of our advertising materials with outstanding balances. With the emerging economic climate affecting people around the world, we wholeheartedly recognize that creative people need to be paid on time.”
Problems for EyeEm
A blog post by Alexandre Rotenberg speculated that the stock site was headed for closure, citing red flags.
“All contributors complain to Microstockgroup Forum that it’s been almost two months and they haven’t received their payment or any news when they should expect to receive the money,” Rotenberg writes.
“Additionally, related or not, I saw two images sold via EyeEm’s partner program with Getty and I received no notification of sale, which is also a red flag.”
That’s a far cry from when photographers earned $1,254.93 in four months from the stock site.
When it launched in 2011, only a year after Instagram, it was often talked about in the same breath, but the EyeEm founders diligently reiterated that it was a place for high-end content creators and photographers to sell their wares.