Thanks for the replies. It did indeed take 3.5 years to make the video.
@Mads – is what you are suggesting a ‘rights managed’ license? The installation is long term ie. at least 15 years I believe, so rights managed or a monthly rate would probably be favorable if the client agrees to it, right?
If I go royalty free I’m having trouble coming up with a licensing fee since it is a unique video, that took a long time to make, that will be shown in a high profile installation that many people will see, for a long duration of exhibit.
Is it appropriate to ask what they are willing to spend?