Microstock shake-out gaining momentum with new closure
In a bad week for Microstock businesses a second company is closing it’s doors. After the announcement that iSyndica is closing now Deutsche Telecom is closing their microstock agency Polylooks. These closures come after an eventful month that was dominated by a big photographer backlash to iStockphoto after they announced changes in their compensation. It appears that Deutsche telecome had been trying to sell the business over the past months.
The company only lasted one year after it’s UK launch. This is the announcement on the Polylooks website:
Dear Sir or Madam,
We regret to inform you that Deutsche Telekom has decided to withdraw its Polylooks online photo agency from its portfolio. It is planned to phase out the service by December 31, 2010. In the meantime you will still be able to purchase credits or use credits already purchased until that date. Any image licenses purchased will of course remain fully valid even after December 31, 2010 so that you can continue to use the image material purchased in the future.
If you have not fully used up your credit balance by December 31, 2010, any remaining credit will be paid out to you automatically. We will provide you with details of the payment in good time.
More in the FAQ’s on the Polylooks website.