Pitch idea prices & Awards

As you no doubt know by now, a great way to attract the best ideas is to hold a pitch. And when you hold a pitch YOU decide the price for any potential licence you may buy. You can either decide the price yourself, or use the OpenAd Standard Pricing system. For detailed information on this please see the OpenAd Standard Pricing system section. If you don't choose to specify a price for licences from your pitch, then the Creative will decide it. (Again, they can decide whether or not they set the price in line with our Standard Pricing System.) Buyers may, of course, only set prices for ideas submitted in response to a pitch they are holding. A great way to make sure you get a maximum number of replies to your pitch is to offer an award. This can be for any amount (at or below the licence fee), and its value is deducted from any potential licence fee you then pay. For example:

1. You hold a pitch
2. You offer an award of $1000 for the best entry
3. After your pitch closes you choose your favourite idea and pay the Creative the award of $1000
4. You then choose to license that idea. You set the price for the licence at $8,000
5. You pay an additional $7,000 towards the licence fee.
6. If you decide to buy any more of the ideas, then you pay a fee of $8,000 for each licence

Please note: If you choose not to license any idea submitted to a pitch, then any awards offered must still be awarded. So in this case the example would be:

1. You hold a pitch
2. You offer an award of $1000 for the best entry
3. After you pitch closes you choose your favourite idea and pay the Creative the award of $1000
4. You choose not to license any of the ideas submitted and so this pitch process comes to an end
5. You award the award money to the best entry in any case