Licensing/Pricing Commercial Music Photo

[mike_gendimenico]

<p>Hello-<br>

I've been shooting trade shows for a well known, but smaller music gear company for a few years. The usage agreement has always been use unlimited web/social media for two years, advertising and 3rd party use negotiable. This year, I got a few photos of one of their endorsee musicians holding his endorsed/signature product and the company wants to use one of the photos for advertising. <br>

Never had to price a commercial photo for advertising so asking around to get a general idea of what to charge. My pro photog friend in LA that does a lot of music related photography said depending on the use, $7,500-$10K is not unreasonable (had no idea it would be that high). She said feel them out and ask how, where and what it will be used for. She advised against a buyout and said those go for quite a bit more money. <br>

I sent a note back to the company asking some details on usage and that I usually license photos, not do buyouts. Told them I am flexible and we'll work something out. They responded with a very short note and said give them two quotes, one for unlimited use for one year and one for the buyout. <br>

I have a very good relationship with them, they pay me well and creative/expenses are already accounted for since I will get paid for the overall event job. This deal could potentially lead to other licensing from them in the future so want to give them a good deal but not undercut myself either.<br>

Thoughts?<br>

Thanks in advance for any advise!</p>