One of the challenges we face every day in photo licensing is deciding what an image should be worth. Where does the value come from?

Is it an artistic question? Are we considering the effectiveness of composition and technique? Can we put a figure on that sometimes-indefinable quality that makes a great photo?

Or is it a purely practical question about production costs? Models, locations, costumes, hair & make-up, transport, set dressing, post-production work… A lot goes into a high-quality image.

What about the licensee’s intended usage? An image might be used across a multimedia promotional campaign or as a thumbnail illustration inside a specialist magazine. It’s the same photo, but the value to the customer is very different.

And how about the long term? Does an image have the potential to be used again and again, by different customers in different sectors? What if someone buys exclusive rights for a particular country or industry – how likely is it to sell anywhere else?

Finally, what about the competition? If an image depicts a subject that has been widely covered – and especially if similar images can be found on stock libraries for just a few dollars – then this may affect the fees that those hard-working salespeople can get for it…

The answer, of course, is ‘all of the above’ – all of these factors can and will influence the figure we calculate as the sale price when speaking to picture buyers. Our role as salespeople is to secure fees that reflect the quality of our contributors’ work and the production costs behind them, and we have to consider the long-term impact of exclusive sales. However, we also have to understand our customers’ requirements and recognise what value an image has for their project.

For photographers, meanwhile, it’s true that unique, inventive and high-quality images will stand out from the competition, but your favourite shot from an artistic perspective may not be the one that earns the most. It’s all about usability!

Philip Grimwood-Jones/Arcangel UK