Saturday, July 12, 2008

July Mentoring Assignment

The June Mentoring Assignment prompted several interesting comments, such as this one from Chris DeLellis, President of Art Life Images:
“As a stock photography company owner, I was enthralled by your calculation of the license fee for the shoe client and your scenario and teachings on Rights-Managed licensing. I ask you to continue in this vain as you may be one of the few voices out there expressing the true or proper value of the work, on top of the fact that you obviously really know your stuff.”
This month, you are the photographer. The client is a manufacturer of upscale aromatherapy and bath and body products. Their Marketing Director found you through the shoe company's ad agency after seeing your "Cinderella" photograph. He needs an estimate for shooting one model with their products in a four picture mini-story. You’ve said that your creative fee is $3500/image plus expenses. You retain copyright; they can use all four images exclusively for one year in any application.

But the client wants to own the images. You've explained that a buyout or work-for-hire agreement is four times your creative fee (a total of $56,000). He’s allocated $25,000 for everything (rights and expenses). What he needs most beyond the initial ad campaign is flexibility over the next five years to use the images in product packaging and collateral materials for their distributors.

Think about what rights you can provide within their budget. What can you manage for $6250/image total? Is there a way to cut down on expenses? What about the model’s fee? Can you shoot all four images in one day, maximizing assistants and stylists? Consider your options under territory of use and exclusivity. Work out several scenarios on paper including the rights transfer language needed for your final agreement.