I am a wedding and portrait shooter comfortable in my own realm, but fairly naive in terms of corporate and business photography. I have been asked to shoot for a magazine cover -- I will be shooting one of the subjects here in Calgary, while another 5 will be handled in Toronto (so, it'll be 1/6th of a cover, I guess). I am comfortable with the shoot itself, but I need to submit a bid that is appropriate to the market. The shoot is for a meeting and travel magazine with about 11,000 circulation. I took a look at the pricing calculator here, but prices varied depending on what variables I plugged in (many sounded appropriate).
I took a look at the magazine's advertising rates: $6800 for a full page, $5100 for a half page, $3800 for a quarter page. The magazine is published 6 times per year. I assume the shot is a one-time use (for the cover), and it might be used online (I haven't heard back about that yet). I figured I would offer them an exclusive license in perpetuity (allowing me usage for my portfolio, of course), as it will not be anything flashy and I have no intention to use it for stock.
I know markets fluctuate a lot based on location; Calgary and Toronto are two of the biggest markets in Canada. I figured I would ask here for some advice, as there are many shooters here who probably make a career at this exact type of photography.
I appreciate your input!
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