How can I price a photo licensing fee, and are there alternatives to FotoQuote?
Asked 1/22/2011
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I need to quote a fee for licensing one of my images and want a sensible way to arrive at a price. I’ve heard of FotoQuote as a pricing reference, but I’m wondering what other approaches photographers use and how to compare them. I’m especially interested in how usage terms and local market rates affect the quote.
Originally by Photography Stack Exchange contributor. Source · Licensed CC BY-SA 4.0
Photography Stack Exchange contributor
15y ago
2 Answers
13
The big question is do you license strictly for stock, or do you also license for assignment? FotoQuote (which is what I use) is 'the industry standard' (self proclaimed though that may be), and truth-be-told that 'fact' does on occasion enter into my negotiation process if I get a balky client:
"Well, I don't know Mr. Hip Brand Manager, as you know we use FotoQuote because they are the industry standard for pricing and it tells me that we should be charging a minimum of $4,000 for that image usage despite your desire to obtain an unencumbered perpetual worldwide usage license for all mediums for $1.42 and a stick of gum that you found in your couch this afternoon. I could maybe take 10% off that price because you're a valued client, but I don't think I could go any lower than that."
It's sorta like the Kelly Blue Book... Sure there are other car pricing guides, but there's a certain amount of 'weight' that comes with it being a 'Blue Book Value.' They also cover both stock and assignment, licensing, and buyout... So you'll have all your bases covered in a single resource.
Having said all that, if you only do stock, I have a photographer friend who swears by HindSight's Photo Price Guide (unfortunately named, IMO). I have not used it, so I'm probably a poor salesman on the software, but as I understand it, it is cheaper than FotoQuote, they claim to have 'better' pricing models (whatever that means), allow you to add your own prices to their system, and they do offer a free trial so you can give it a test drive to see if it's to your liking (so does FotoQuote, btw).
In the free department (and I suspect that the old adage of 'you get what you pay for' applies here), and again if you're only looking for stock pricing guide, you might try out the Stock Photo Price Calculator. I have not personally used it, so consider it a pointer to a possible resource (if you're desperate and broke, I guess...), not a ringing endorsement. :-)
If you'd prefer a 'less automated' option, the organization American Photographic Artists (APA) has a business reference manual which provides a lot of really solid information and guidance on how to 'self-calculate' licensing and buyout fees across a variety of situations that you may encounter. The dues are relatively steep, so that may be something to take into consideration vs. simply springing for something like FotoQuote or HindSight.
Originally by user2838. Source · Licensed CC BY-SA 4.0
user2838
15y ago
0
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A licensing fee usually depends on the usage being requested, not just on the image itself. The key factors are things like scope of use, duration, territory, exclusivity, and media. Broad rights such as perpetual, worldwide, all-media use should cost significantly more than limited use.
FotoQuote is commonly used as a pricing reference and is often treated as an industry-standard starting point in negotiations. Even if a client pushes back, having a recognized benchmark can help justify your quote.
A practical alternative is to research your local market: ask several photographers in your area what they would charge for similar usage terms on a comparable image, then average those quotes. This can be especially useful because licensing rates vary by region and market.
In short: define the exact license terms first, use a pricing guide like FotoQuote as a benchmark, and sanity-check it against local comparable quotes.
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