Selling Stock Price Increase

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January 3, 2005

As we begin 2005, I am raising the annual subscription price of Selling Stock to the following:

* Basic Online Service - The basic online subscription is designed for two readers and included timely updates at least twice a month or whenever important news breaks. If you want to distribute the information to more than one other person Seat Licenses are available.

** Seat License - If you would like to distribute to more than one other person you need to purchase a Seat License. Seat license purchaser may distribute the information either electronically or in printed form. If you wish to circulate the material to more than 8 people contact the publisher for special rates.

Subscription to the Print Edition includes full online access at no additional charge.

When Due?

The price increase is due when your current subscription expires. Readers who have recently renewed will not be asked to pay the new higher price until they receive their next renewal notice. In some cases that will not be until the end of 2005.

One major change in our pricing policy is the shift from site licenses to seat licenses. With the industry consolidation it has become apparent that many non-subscribers are getting full access to my stories, usually through a subscriber within their company. With a site license that was technically legal because for a small additional fee subscribers had the right to show the stories to as many people as they want to "at their site." Email has also made it much easier to pass links and full copies of stories to multiple friends. The end result of fewer subscriptions is that I am forced to raise the overall price per subscription to cover my costs and make a profit. Individual photographer who are reading, but not passing on the information tend to be the ones hurt by this practice.

Seat licenses are based entirely on the number of readers, regardless of where they are physically located. I hope this will change the balance in a fairer way and that people who feel the information is of enough value to pass along to associates within their company will pay for the appropriate number of seats.