Perceptual representations have distal content: they represent external objects and their properties, not light waves or retinal images. This basic fact presents a fundamental problem for ‘input-oriented’ theories of perceptual content. As I show in the first part of this paper, this even holds for what is arguably the most sophisticated input-oriented theory to date, namely Karen Neander's informational teleosemantics. In the second part of the paper, I develop a new version of informational teleosemantics, drawing partly on empirical psychology, and partly on philosophical considerations. I shall argue that this version has all the virtues of Neander's original theory, but also the further crucial advantage of being able to account for the distality of perceptual content.