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From Richard, UK
My agency has a casting for me this Thursday for one of the UK's tourist board. She has advised me of the fee minus the agency 20% commission, and there's a buyout of £1250. Could you explain to me what is a buyout? I could ask the agency, but I don't want to appear un-knowledgeable.
Dear Richard:
One of the determining factors that an agent will use to decide how much to charge for an ad is the length of time the ad is used. A buyout, means that the ad agency wants to be able to use your image in an ad forever. To compensate you for the potential loss of work with a competitor, most of the time, the model will receive a buyout fee. These fees are paid in addition to the model’s regular modeling fee.
If you ever have a question, you should always ask the agent.