Shoot Concept: Lifestyle images of two friends interacting
Licensing: Trade Advertising and Trade Collateral use of two images in the US for two years.
Location: A residential property
Shoot Days: 1
Photographer: Portraiture specialist in the Northeast.
Agency: Medium sized, based in the Midwest.
Client: A pharmaceutical company
Here is the estimate:
Creative/Licensing: While the creative brief called for one scenario and a single hero shot, the client hoped to acquire rights to two final images of the talent photographed in the same scenario, but with slight changes to their expressions, props and camera angle. I felt the second image would be a bit less valuable, but different enough that they’d be able to use in unique ways or to present a different message. Taking that and my previous experience pricing similar projects into consideration, I priced the first image at $7,000 and the second image at $5,000. I typically try to determine the licensing value for a single year first, and then extrapolate to account for additional years. However, while I might typically add 50% to jump from one year to two years, I felt that based on the simplicity of the concept and the likelihood of a limited shelf life to these images, that the price increase wasn’t justified. I also found out during conversation with the art buyer that their budget was around 50k, and I wanted to present appropriate fees while still keeping this in mind.
After determining what I felt was an appropriate fee, I checked other pricing resources to see what they suggested as well. While Blinkbid calculated a fee around $15,000, FotoQuote didn’t have a rate that included all advertising and collateral use while also taking into account trade and/or consumer usage. Getty suggests a price of $4,800 per image for print advertising, but didn’t have a catch-all collateral pricing rate or the option for specific trade usage. Corbis offers a “Print Ad, Collateral and Web Pack”, which seemed to fit the requested licensing nicely, and suggested a price close to $15,000 per image per year, but also didn’t include an option for trade usage.
The agency asked for an option to expand the licensing from trade to consumer use within a concurrent time frame, and I felt that this increase should fall somewhere in between an additional 50% to 100% of the fee, or at least be as valuable as 100% of the first hero shot. I settled on $7,500 to make it a palatable option, while also realizing the agency would have to take into account increased talent rates (which I developed with our casting director).
Photographer Scout Day: We planned to do a walkthrough of the location before the shoot, so I made sure to include pre-production time for the photographer to attend.
B-Roll Videographer and Video Equipment: While photography was definitely the main objective, the agency hoped to acquire video content as well during the shoot. The video was to mirror the photography but capture very subtle movement of the talent. Given the limited creative responsibilities, I felt $1,500 would cover a camera operator who could also offer grip and lighting expertise. I anticipated that the $1,000 would cover his camera, a basic slider and video monitors for the client to view the content they would be capturing.
First and Second Assistants: We’d need extra hands on site, not only to help set up and break down, but to also assist with moving furniture around and putting it back in place alongside the styling team.
Digital Tech: I anticipated a tech to charge $500/day and added $750 for a computer workstation and monitors for the client to review the images being captured.
Producer: This included three prep days, one scout day, one shoot day and one wrap day. With a crew this size and lengthy list of logistics to monitor, a producer would be a key role to take on those responsibilities.
Location Scout, Location Fee: Upon initial discussion regarding the creative direction, the client was looking for a pretty straightforward and simple residential property. Since most location scouts have plenty of residential properties that would fit this bill in their database, I included one day to account for a file pull, and one day to account for extra time they might need to spend shooting new pictures of the location we chose or to find additional options. In the area where the shoot would take place, and based on prior experience, I felt a location fee of $2,000 would return a solid list of options to choose from.
Production RV: When possible, I always try to include a production RV for shoots like this to keep as many cooks out of the kitchen as possible. An RV would afford a place for the stylists to set up, space for talent to wait, an area to arrange catering, and a private area with wifi for the client if needed. Many RVs charge $800-$900/day, but then mileage, dumping fees, generator run time and other charges are often added on which add up quickly. I included a buffer and bumped the rate to $1,200 to be safe.
Live Casting and Talent: The agency requested a live casting (rather than casting from cards) and wanted to capture video of each talent to see how they presented themselves and interacted with others. I contacted a local casting agency who quoted $950 to cover their prep time, a half day for the casting, delivery of the results and booking of two talent (the rate felt quite cheap from a print production perspective, but similar to rates I’ve seen other casting agencies quote that primarily cater to the video industry). I also discussed talent rates with the casting agent and determined that a fee of $3,000 per person would return a decent talent pool to choose from.
Hair/Makeup Stylist: Since the talent count was minimal, we included a hair/makeup stylist without an assistant for the day.
Wardrobe/Prop Styling: The wardrobe requested was rather straightforward, and after a conversation with a local stylist, we were confident that they needed just one assistant to accomplish the project. We included two prep days, one shoot day and one return day for both the stylist and their assistant. We anticipated that $350 per talent would be more than enough to cover non-returnable wardrobe, and that $1,650 would be a good starting point for extra props to fill out a room in a residential property (tables, chairs, other small pieces of furniture, flowers, picture frames, vases, etc). Since some of these items would be rather large, we included the cost of a van to help transport everything.
Equipment: At the time of estimating, we were debating whether it would make sense to shoot with strobes and then set up continuous lights for the video, or if we should just use the lighting setup for video and have the photographer just shoot without his strobes. Either way, I was confident that $1,500 would cover the photographer’s gear should he choose to use it, or it could be added to the $1,000 already included for the videographers gear to help supplement that to include a lighting setup.
Shoot Processing for Client Review and Selects Processed for Reproduction: We included $250 for the photographer to do a quick edit and provide a web gallery, while adding $100 per image to touch up the chosen files and deliver them to the agency. I’d typically increase the rate for the gallery to $500, but we’d have a digital tech on site to help organize the assets and accomplish some of this work as it was being captured.
Catering: I anticipated catering to cost $50-$60 per person for the shoot day (including six agency/client attendees), and bumped it up a bit to account for potential meals during the scout day.
Mileage, Parking, Meals, Misc.: I included $100 for production books, $200 for miscellaneous expenses and mileage, and $300 for additional meals and parking for the wardrobe/prop stylist while shopping and returning everything.
Feedback: While we knew that our estimate fell within their budget, we also sensed that they might be interested in increasing the scope of the project. Sure enough, the agency came back and told us that they were interested in shooting another scenario with two additional talent during the same shoot day, and they asked for a revised estimate. This of course impacted many items across the board, and we put pen to paper and submitted the following revised estimate:
Creative/Licensing: In addition to capturing another concept, they asked for licensing to six images (three per concept), as opposed to just two. My first inclination was to double the price, but upon further consideration, I felt that the first image of the second scenario might be equally if not less valuable than the second image from the first concept. I had considered adding an extra $3,750 for image number three and $1,500 for image number four, and felt that the third image in each scenario didn’t bring enough value to increase the fee much further. While we wanted to bump the price to this amount, the photographer was eager to close the deal and wanted to offer a bit of a discount by capping it at $15,000 (we did however increase the licensing option to jump from trade to consumer use). Given the nature of the project, we agreed that this was still good for a one-day shoot, and I’ve seen similar projects land on similar rates while granting more licensing.
Live Casting and Talent: Since we’d be casting four talent instead of two, we increased the casting fee to account for more time to prep, shoot and book talent, and we increased the talent fees to account for two additional people.
Wardrobe: This also increased, but didn’t double since the outfits that were requested could easily accommodate more than one talent. So, instead of shopping for four unique outfits, many of the same items would be appropriate for multiple talent which I anticipated would result in cost savings. Interestingly, while I would have anticipated an increase to the prop budget since we’d be shooting in two scenarios, we felt that after analyzing some location options, that we’d be able to use many of the items already in the houses to set up a simple second scenario.
Selects Processed for Reproduction: This was a quick change to jump from two to six images, and to cover the time it would take to process more images.
Catering: I added an extra $60 per person to account for the two additional talent.
Production Insurance: Throughout the negotiation process, we learned that the agency had insurance requirements that the photographer’s policy didn’t specifically cover. The photographer would need to increase his policy and pay an additional fee to his insurance company in order to do so, and hoped to pass this cost along to the agency.
Results: The project was awarded, and the client opted to expand the licensing to include consumer use.
If you have any questions, or if you need help estimating or producing a project, please give us a call at (610) 260-0200. We’re available to help with any and all pricing and negotiating needs—from small stock sales to big ad campaigns.