How to Price Image Usage Renewals

Q:

 I have been asked by a client for my fee options to renew usage on some of my images for 1 year and for perpetuity. The base fee was $3000 a day for these beauty portraits. I am wondering for digital and print, how to price this. How would you handle this?

A:

The answer to all fee renewals (if not spelled out on the estimate) follows the same consistent proportional percentage breakdown, mirroring the original usage/fee cost. If you charged $3000 for digital and print usage fees for 1 year on the initial estimate, then I’d follow that, asking for perhaps $2500 or $2750 for another year. A lot of this depends on the client’s budget, so I always negotiate with a “collaborative negotiation” positioning myself to open the conversation for an ongoing work partnership.