Question for Red One owners (who rent out)

Steven Bogda

Steven Bogda

Well-known member
If you don't mind sharing...

What was the rough estimate of the total amount of money you spent on your total Red package?

and

How much do you charge daily to rent it?

and

How much have you made STRICTLY renting it out (camera package only, no shooter)?

and

Do you think you will make back what you spent on the package renting it out?
 
My DP spent about 40K, and I think he usually rents for about 2500 a week, depending on the project. I don't know how much he has made total, but he has rented it out a number of times. My guess is that it will have paid for itself fairly soon.
 
That article doesn't say anything about the countless music videos, commercials, and shorts that are shot every day on the RED. I doubt that any RED owner is banking on shooting features all year long cause that ain't gonna happen. We actually haven't had just a camera rental with DIT yet, its all been bundled with DP services.
Yes there are the producers that will have people bidding lower and lower but we have a cut off because its not worth our time for some of the prices they ask for. There are owners who will give out a full package for $200 a day here in NY because they are not making the killing they thought they were going to and now have to practically give it away. None of them offer anything else but rentals though.
 
I read that article from New Breed with interest. And I agree that the Red was never really designed for the "rental market." It would be like saying that the HVX200 was distributed with a successful rental model in mind. Ultimately, the Red is affordable enough (barely) to allow independent filmmakers to own their own camera. Even better cameras will be coming to market at cheaper price points in the near future. That leaves the future of camera rentals with rather bleak prospects. Then again, the market for renting lights and specialized production equipment will probably increase.
 
I am just trying to see if people were able to make back at least half the money they spent on their Red packages by renting, or doing easy work. I know people that actually go out and shoot with the camera for someone probably make good money for the day, but I was wondering if it was hard to make money renting it out.

Thanks for the insight
 
I think if you're going to buy with the idea of renting it out, it's hard to buy a basic package. A lot of camera landlords have the zeis primes, the $3000 VF, the hard drives AND flash media, matte box, all the trick stuff. That's your competition. One of the members here had a basic package (we almost bought it) and said he'd often end up renting accessories from other people and it got to the point where he was almost better off just renting out someone else's entire package.
 
I think the best way to position yourself is as an owner/DP. There are still people a little afraid of the RED and would only consider using it if someone with experience comes with it. But the prices I quoted above were just for the camera rental. No personnel involved.

The price point is a double-edged sword for rental. I wouldn't buy one if renting it out was the goal, but it's a nice way to help pay for the camera while you are using it for your own purposes.

EDIT: The quote that sums it up:

"I believe that Red Digital Cinema never intended The Red One for the rental market…it was always intended to empower owner/operators."

I completely believe that.
 
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Its never easy. If you expect to sit back and let the money roll in you are in for a big surprise. I have a few friends here with REDs and they are all hurting right now and trying to pass off work to each other if one gets double booked to help out.
 
Cameras are the worst production asset you can buy if you're buying with rentals in mind. Obsolescence, initial cost and market over-saturation are three reasons. In most markets, there is finite space for owner-operators of high-end cameras - at least ones who make enough money to cover their leases. Gentleman filmmakers seemingly have no such worry, but that is not me.

I was just talking with our leasing company rep about this very subject this morning. In the real world, you, as a producer (line or otherwise) of commercials and feature films procure your gear from either a rental house or through production company who is at-risk on the project. Not a guy with three-quarters of a camera package.

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I wasn't thinking about only renting it out. I just wondered how much of the cameras total price you could make back from renting it. I would assume the rest of the money you make back is from actually doing jobs yourself.
 
Depends on the person. Some have not made it back. Some have quintupled their original investment. I think many hoped to make more than they have from rentals..
 
I have several friends who have them and they'll make $5k - $10k this year from local word of mouth rentals, actually one of them made $2500 last month from local rentals. They arent trying to get rich just offset some of the cost when they are not in use. There are a lot of them out on the market, I have heard of a few of them going for $1500 a month now, catch a guy who owns one when it won't be in use for a while and you can score a good deal.
 
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