Option amount

Collapse

Announcement

Collapse
No announcement yet.
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Option amount

    So here’s the deal. A prodco you’ve heard of is going to option my spec for money. They are a signatory. I don’t have a “quote.” I’ve sold a pitch for about half of scale.

    So what should I ask for? (Yes, I’m going to talk to my lawyer) 10% of the minimum plus 10%? Budget is probably 40-50M. I’m figuring the old 10% of X% of the budget isn’t a thing for newer writers? Basically I don’t want to go in asking for 10% of 1% (40k) and they’re like “who’s this a$$hole?” when they are thinking 10% of minimum.

    Anyone have any stories to share on this? Thanks!!
    Last edited by Satriales; 07-10-2020, 11:40 PM.

  • #2
    Re: Option amount

    I will offer this as a "guide" for now. As you allude to, you should be paid somewhere around roughly 3% of the film's budget. Now, they are not going to pay you that much, in this particular case, as a writer without an established quote. Even with a bit of quote to your name, that probably won't pay you over seven figures which that would come to based on that percent of that budget.

    More realistically, even if you are not WGA, you deserve more than a minimum payment for your script IF the film is actually made for that amount. Granted you still might not get this but I'd say you should receive somewhere around say, $250,000 for the script budgeted at that amount. Maybe $50,000 floor with a possibly $275k ceiling? Again, odds might still be against the higher numbers but you should be paid around that for a script being made for that amount, I strongly believe. No reason they shouldn't and no reason your agent shouldn't push for something in that range. (And if for some reason the floor amount or somewhere close to that has to come into play, then it should be that amount plus 10% for your agent.)

    Which then leads to, how much for the option? Again, if your script is so good in their eyes that they want to option it, then it should mean it could be considered equally as good in someone else's eyes. They can't be the only ones with good "taste" or "vision." Right? Thus, your agent should argue, if it is being tied up, they should at the very least pay you a few thousand dollars to option your script to take it off the market since you are possibly losing other deals without being able to shop it around.

    Now what you will accept vs. what they will offer, will simply have to be debated. Your agent should, of course, do that for you. Then you have to decide if that is worth it to you. It's really and truly your call. And no one should consider you a jerk or anything for asking that type of money for a medium size budgeted project. Then if they are not willing to pay that, they better have a darn good reason why. A very good reason that has nothing to do with WGA or not.

    That would be my two cents for ya at the moment without knowing more.
    Last edited by Done Deal Pro; 02-11-2020, 03:25 PM.
    Will
    Done Deal Pro
    www.donedealpro.com

    Comment


    • #3
      Re: Option amount

      Originally posted by Done Deal Pro View Post
      I will offer this as a "guide" for now. As you allude to, you should be paid somewhere around roughly 3% of the film's budget. Now, they are not going to pay you that much, in this particular case, as a writer without an established quote. Even with a bit of quote to your name, that probably won't pay you over seven figures which that would come to based on that percent of that budget.

      More realistically, even if you are not WGA, you deserve more than a minimum payment for your script IF the film is actually made for that amount. Granted you still might not get this but I'd say you should receive somewhere around say, $250,000 for the script budgeted at that amount. Maybe $50,000 floor with a possibly $275k ceiling? Again, odds might still be against the higher numbers but you should be paid around that for a script being made for that amount, I strongly believe. No reason they shouldn't and no reason your agent shouldn't push for something in that range. (And if for some reason the floor amount or somewhere close to that has to come into play, then it should be that amount plus 10% for your agent.)

      Which then leads to, how much for the option? Again, if your script is so good in their eyes that they want to option it, then it should mean it could be considered equally as good in someone else's eyes. They can't be the only ones with good "taste" or "vision." Right? Thus, your agent should argue, if it is being tied up, they should at the very least pay you a few thousand dollars to option your script to take it off the market since you are possibly losing other deals without being able to shop it around.

      Now what you will accept vs. what they will offer, will simply have to be debated. Your agent should, of course, do that for you. Then you have to decide if that is worth it to you. It's really and truly your call. And no one should consider you a jerk or anything for asking that type of money for a medium size budgeted project. Then if they are not willing to pay that, they better have a darn good reason why. A very good reason that has nothing to do with WGA or not.

      That would be my two cents for ya at the moment without knowing more.
      Very helpful! Thank you so much!

      Comment

      Working...
      X