I'm not sure if anyone else has taken a look at this deal, but there are some questions I have and maybe someone can offer some insight.
Typically, a writer could expect 2.5% of the budget. I know there is a limit and it's more challenging for a new writer to get a big spec deal, but mid-six figures does happen. And if your spec hits the $50-$100 million mark, it seems it could garner mid-six in a deal.
There are differences to this Imagine Impact accelerator than previous ones.
The previous deal was...
So an example is TUNGA writer Godwin Jabangwe who was paid $40,000 for 8 weeks of writing a draft. He pitched his own project then went into a 4-day bidding war that resulted in a mid-six figure guaranteed deal. That is fair. He has an IP that industry wanted. That NETFLIX wanted.
The new parameters...
It's interesting, yesterday when I was reading the release and guidelines the Artist had to acknowledge that the Artist would not be attached in any capacity, ie... director, actor, producer and a few others I can't remember. That's seems to have been edited out.
Can someone help me understand this provision below?
And why do the WGA mins identify high budget as $5 million? When many films are much higher than that?schedule Yikes, def not writer friendly. Seems they should have a schedule for the $10-$30 range, the $50-$100 range... maybe that's just me on the outside looking in.
It seems to say that the ONLY compensation the writer is entitled to is the scale payments for delivery of the first draft and revised draft? Is this correct? Or does this allow for provision "D" under the guild mins or article 13.A.1.a that provides/allows them to exclude option/purchase price?
What I'm trying to determine is whether there is an opportunity to negotiate the option/purchase price of a large scale franchise submission or if they only compensation is the first draft and a revision? And I'm not at all assuming my project would be selected, I want to understand what I'm signing.
Can someone help me out here?
Typically, a writer could expect 2.5% of the budget. I know there is a limit and it's more challenging for a new writer to get a big spec deal, but mid-six figures does happen. And if your spec hits the $50-$100 million mark, it seems it could garner mid-six in a deal.
There are differences to this Imagine Impact accelerator than previous ones.
The previous deal was...
- $40,000 stipend to move to LA for 8 weeks and work with the Imagine Impact team to get a pitchable/produceable draft ready for pitch day.
- The writer pitched their project directly to buyers in the industry.
- The writer negotiated their own deal with the buyers at play.
- The writer had the potential for a bidding war. Tunga is an example.
- The writer could negotiate their way onto the project permanently. As actor, director, producer, writer, etc...
So an example is TUNGA writer Godwin Jabangwe who was paid $40,000 for 8 weeks of writing a draft. He pitched his own project then went into a 4-day bidding war that resulted in a mid-six figure guaranteed deal. That is fair. He has an IP that industry wanted. That NETFLIX wanted.
The new parameters...
- Writers are not allowed to be in the room for the pitch or participate in the presentation of their script/idea/world.
- Imagine Impact team pitches the project to Netflix. This is great for Imagine Impact, but doesn't allow for a writer to make a connection at Netflix.
- You don't have to move to LA
- You do not get a stipend.
- You do not have an accelerator team that helps you work through issues in your draft. You are teamed up with a SHAPER, but only for non-writing consultation.
It's interesting, yesterday when I was reading the release and guidelines the Artist had to acknowledge that the Artist would not be attached in any capacity, ie... director, actor, producer and a few others I can't remember. That's seems to have been edited out.
Can someone help me understand this provision below?
Artist shall be entitled to the then-current minimum scale set forth in Article 13.A.1.a of the Writers Guild of America ("WGA-) Basic Agreement ("Guild Agreement-) for the delivery of an original screenplay and set of revisions (i.e., a first draft and revised screenplay). Such amount shall comprise the total fixed and contingent compensation payable to Artist, inclusive of any credit bonus or other form of remuneration other than as required under the Guild Agreement. Artist's credit, if any, shall be determined pursuant to the terms of the Guild Agreement. All other terms of the writer agreement between Artist and Netflix (if applicable) shall be in accordance with Netflix's customary terms and conditions for such writing agreements.
It seems to say that the ONLY compensation the writer is entitled to is the scale payments for delivery of the first draft and revised draft? Is this correct? Or does this allow for provision "D" under the guild mins or article 13.A.1.a that provides/allows them to exclude option/purchase price?
What I'm trying to determine is whether there is an opportunity to negotiate the option/purchase price of a large scale franchise submission or if they only compensation is the first draft and a revision? And I'm not at all assuming my project would be selected, I want to understand what I'm signing.
Can someone help me out here?
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