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Question about how to price licensing a still photo for commercial use.8869

Richierichks private msg quote post Address this user
I have been contacted by an international Commercial Property Investment company wanting to use one of my stills in their marketing for a new development they are building in my area.

They are going to use it on the website and in print marketing with approximately 1000 expected impressions each for an undetermined period.

I have no idea how to price this and don't want to price myself out of the deal but don't want to leave money on the table either.

For what it's worth, this is a very upscale development.

Anyone have any experience with this?
Post 1 IP   flag post
immersivespaces private msg quote post Address this user
Commercial image licensing for property development/real estate projects is typically based on a percentage of the total marketing budgets in which the image would be used. You would individually license every use of every image. You can also discount for multiple images, etc. I also include a term of no more than 12 months, after which they would need to renew the license at a 50% discount.

In general, we tier pricing something like this:

$1-1,000 > 15% of budget
$1,000-5,000 > 10% of budget
$5,000-50,000 > 5% of budget
$50,000-250,000 > 2% of budget
$250,000+ > 1% of budget

So, for example, if the marketing budget for the website is $10,000 then the license would be $500 per image. If the budget for their flyers is $70,000 then the license fee per image is $1,400.

Keep in mind when dealing with property developers, they have decent budgets for marketing and as a photographer whose image will be the face of much of their marketing, you should be compensated for your time and efforts.
Post 2 IP   flag post
Richierichks private msg quote post Address this user
@immersivespaces Thank you for the very detailed response! That helps a lot!
Post 3 IP   flag post
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