A small L.A.-based prod co is offering me a non-exclusive option for my screenplay.
Should I even bother to take this seriously? I’m wary that they are willing to do this, but is there really any down side for me as long as I can still shop it on my own?
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Gotta start somewhere. Who else is championing this script to "heavy hitters"?
Ask for $ for non-exclusive/6-9 month window. They wanna renew- then demand $.
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Thanks, Dan.
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Alan, if I were you I would go for it. This business is hard as it is.
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You don't have much to lose here, I'd agree with Dan. If someone else comes along, due to the non-exclusivity... you can just run with it. Just mind how the contract is phrased and be on the lookout for any hidden little clauses that will make you miserable. But I'd also agree with Dan on the renewal - once they want it a second time, demand payment
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Have you done any research on them? Do they have a track record? Have they revealed their strategy? Where do they want to take it? Are they going to provide you with a list for your approval? Are they offering you $$$ for the option?
This isn't just a "fuck it, why not" situation. This is your work and the exposure of your work. The decision needs to be taken seriously.
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I agree with Richard on this one. I understand that it's a non-exclusive option, but how seriously are they taking your work if they feel like you can take it anywhere else?
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RB and Nathan,
Yeah, I'm not feeling it from the company's past productions which are mostly shorts. And although hey do have features at various features in development and pre-production, I would need to hear their plan before entering into any agreement with them.
Not only that, even if the option is non-exclusive, if they post it up on imdb as "optioned", wouldn't that turn away other interested prod cos? Or, would that actually create interest from others wanting to get in on it?
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Well, to your last point, you would never allow them to do that. That would be a demand. Look, I learned the hard way that free options and companies who don't have the juice doing my work more harm that good is not the way to go. This is a huge mistake all screenwriters make. They are so accepting of any approval of their work, it blinds them of sound business judgement. And make no mistake, you may be a creative, but as a writer you are a businessperson. It's also the reason why so many writers sign with the first rep that gives them an offer without asking any questions or discussing strategy. They don't realize that the wrong rep can set you back years.
You lose nothing by holding their feet to the fire and asking them questions they should be more than willing and able to answer. You can also ask them if they have any other feature scripts under option and, if so, that you'd like to talk to those writers and get their viewpoint on how things have progressed. But most of all, are they paying you for the option, and I don't mean a $1 option which, of course, is also bullshit and not a true commitment.
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That sort of thing is done a lot. The odds are good nothing will come of it. If it was me I would probably give them a non exclusive option for three months. I always try to make sure I have an exit stratagy. I'm not offering any legal advice I'm just saying what I would do.
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If they have no juice and no contacts and they're not paying, I'm not even giving them the 3 months. They can expose it someplace I don't want to expose it and in a weak handed way. This happened to me and to my detriment.
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All helpful advice, guys.
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I agree with RB - the potential downside of them sharing the script with people you may not want them to or in some soft or irresponsible way may ultimately work against you. They should pay for the option to have that right. One other thought that I’ve seen… if you like them enough to try have it put into the agreement that you get written approval (email is fine) over anywhere they intend to share it in advance of them doing so so you are at least privy and in some sort of control of where it goes. If they break that clause, they would owe you an option fee that you pre-determine. That’s just a thought.
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"Look, I learned the hard way that free options and companies who don't have the juice doing my work more harm that good is not the way to go."). Exactly, Richard "RB" Botto. I passed on an option because of that. The deal sounded great until I checked their IMDb and saw they mainly did shorts. I felt they weren't capable of producing my script (like Alan J. Field said, "I'm not feeling it from the company's past productions which are mostly shorts").
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Great share, Maurice. And we haven't even talked about the unnecessary mental toll a situation like this can create.
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Richard "RB" Botto Signing an option to a company that doesn't have the juice to get the script made and worrying that they'll take it someplace you don't want to expose it. Yeah, that'd definitely take a toll on a writer mentally.
I wanted to agree to the option (it's an option -- who wouldn't want to agree?), but I couldn't have my script tied down for months knowing the option wouldn't go anywhere.
Signing an option is great, but I suggest writers take a step back and digest/think about what the option includes before signing.
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I wanted to comment again and mention how I've had friends who have optioned a script at MGM and it STILL never got produced. I would imagine the odds only get worse the further down the line you go.
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Nathan. You aren't wrong. 9 out of 10 screenplays that are option will never get made. I don't know if it gets worse further down the line you go but I imagine ithat would probably be the case.
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This is phenomenal advice. As rookie screenwriters, I agree, we do tend to selectively forget that this is a business at the end of the day. Yes. Getting that "approval" makes writers feel all warm and fuzzy inside, but if the people you're trusting with your work don't have your best interests in mind, then that warm and fuzzy will transform into a different emotion.
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Nathan Woodward echoing Dan, more scripts that get optioned have the option expire than get made, but I can assure you that your friend who was optioned at MGM got paid and likely had a paid renewal clause. This, of course, is a worthy option and one any writer would take. Absolute other side of the spectrum from what Alan is dealing with.
I've had many paid options along the way, 2 from studios. Got paid well, but neither went, although the effort was certainly there. Ultimately the property reverted back to me. If I could go back, I wouldn't have changed a thing. I was playing at the highest level with the biggest players, but ultimately all the pieces didn't come together in time. Happens more often than not. But just having those paid options with those big players opened many, many doors that unpaid options with producers that have no juice would not have.
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I have a screenplay that is 'old' - never mind, how old - but it has been optioned twice! Both times I made money - because if they aren't interested enough to pay you, then they are not capable of producing it, or it is on 'spec' and they are shopping it around. I lost nothing but 'time' on both options that ran out - and, I had an agent at the time - but it did come close, and the last time went to pre-production. Also, I made money by agreeing to 'rewrite' and tweak the script (at $100 an hour, that's not bad!). It's now on the market, and being reviewed by production companies, so I am still hoping for a happy ending!
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Great points, Khalil. Every mentorship, every panel, every talk I give to screenwriters, I stress the need to understand the business as well as one does the craft. Inevitably, I hear "I don't want to produce or be on the business side of the industry, I just want to write." These writers don't realize that by entering into a profession where the end goal is to sell something you created, you are already in the business and must understand how everything operates. But believe me, in my experience running this platform, producing for over a decade and being a writer myself, I'd say 80% of screenwriters don't take the time to educated themselves on the business or read the trades and stay up on what's happening.
That means that you, and everyone else reading this who does all of these things, have a distinct and profound competitive advantage. And good on you.
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Great advice, and experiences, from all of you (that's what we are here for!) but 'RB' takes the prize. Having done that, and been there - as some of us have - RB says it all. If you don't have an agent, or a management company to look after you, you have to be your own 'everything' - except of course when it comes to the big contracts, and big money. THAT'S 'lawyer territory'!
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Hi All! Question for the group: Do you need to have a literary manager/agent when considering an option? Is that the norm?
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Richard "RB" Botto I absolutely don't think my friend was upset with the deal. He does have the script back. I always joke that the only industry on the planet that gets to call itself "The Industry," is entertainment, and no one knows how it works lol.
People do, but, just look at this incredible website. There's so much information it feels overwhelming sometimes lol.
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Two fantastic posts, James!
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Michelle, no. I've had 'em done both ways. I recently sold a show to one of the biggest prod co's in town and I (amicably) parted ways with my manager a few years back and went at it alone.
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Nathan - As Goldman said, nobody knows anything. Even more true today with streaming viewership opaqueness. It can be a pain in the ass, but less so if you consistently educate yourself and religiously pay attention to the trades.
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RB are the trades you mentioned Variety, Deadline and HR? Any others you recommend?
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Those are my go to's Michelle. I'll also check out The Wrap, which sometimes dives more into the business of entertainment, Indiewire, and more recently, but not with a full commitment yet, Ankler and Puck.
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I had similar kind of an option...two years based...I respected it, meantime wrote other material, when the deal ended it was a no go, but I regained full property of my script all again...point is, you're not depending your regular incomes over this, whatcha gotta lose?...and you might gain a script made...
Still have contact with the guys, sent them my latest treatment...you gotta start somewhere...
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As mentioned and outlined above, if it's a free option and the people you sign with don't have the juice, you have plenty to lose including tying up that property for 2 years.
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This is very insightful. Richard "RB" Botto what do you feel is an acceptable amount of time to entertain an option? And what do you consider ideal circumstances to move forward with one?
Alan - Is it a new script, or one you've been pitching for some number of years without success? If it's been struggling to attract interest, I wouldn't be too quick to walk away from this opportunity.
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Alan, Congratulations. Either way good luck!
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Michelle, any production company or financier with the means and connections to get a project done will offer $$$'s up front for the option. In most cases, between $5K-10K (and sometimes higher). Normally, the option will be for a year with the company or org having the right for a 2nd year at the same rate. Every option I've had has been for $10K or higher and structured this way with other facets of the option either negotiated either by me (if small and manageable enough) or through an entertainment attorney (if more detailed and if their attorney is involved).
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If a producer shows up at the table with only a chair the odds are pretty good that producer doesn't have the assets it takes to make a movie.
Richard "RB" Botto I know there are many gigs available on the Stage 32 site for submission. There is also the ISA site, where, for $10 a month you can submit to what they call 'paid' gigs, but never disclose how much it is ahead of time. Wnat are your thoughts on this?