I'd love some assistance in regards to setting a licensing fee. As we all know, determining a licensing fee for photographs can be tricky, because rarely are any two projects the same. Ideally we look at the specs of the intended usage of the photograph in order to produce a final amount.
My goal is to determine a total cost to license a photograph in the scenario below. In other words, if a client came to you looking to use one of your photographs in the follow manner, what would you quote as an approximate licensing fee for the use of the photograph?
- Large format digital display. Approximately 8' wide, by 5' tall.
- Digital display is located on a major road in a large city (Calgary, Alberta, Canada).
- Photograph would be displayed as an advertisement for the Calgary Stampede, which is the biggest event of the year in all of Western Canada.
- Ad will be displayed during the Calgary Stampede event, which is one of the busiest traffic times of the year on the proposed route (over 50,000 ppl daily).
- Photograph would be cropped to fill display.
- Photograph would display for 25 seconds at a time.
- Multiple ads would display in a loop, resulting in the photograph appearing every 4 minutes and 20 seconds.
- Ads will loop continuously for 24 hours per day, for a total duration of 13 days.
- No relation to the photographer is to be included (no name, no logo, no watermark).
Those are the specs for the photograph usage. What would you charge and what are some other factors that I might need to take into account in determining a final licensing fee for this?
Again, I appreciate any help you can give me. Thanks everyone.