Click here for Done Deal Pro home page
Done Deal Pro Home Page

Loading

Go Back   Done Deal Pro Forums > Business > Producers, Production Companies, Studios & Networks
FAQ Members List Calendar Search Today's Posts Mark Forums Read

Reply
 
Thread Tools Display Modes
Old 12-14-2010, 01:21 PM   #21
catcon
Member
 
catcon's Avatar
 
Join Date: Jan 2010
Location: London, Canada
Posts: 1,920
Default Re: Advice on Producer Attachment Agreement

Quote:
Originally Posted by SBScript View Post
I think it comes down to the viability of the project. If the regime at the studio knows they aren't going to make the movie, then they can spread some good will and create some partnerships by letting it go at a discount off the charges. From only a business perspective, as well, if they aren't going to make it, then they aren't going to see the money, so why hold on to it?
Yeah, you think they'd have been able to negotiate a sweet deal. Get on as exec prods or something. I mean, the write-offs had already been declared and benefited them (as that kind of accounting goes), and if the thing ever got made they may appreciate the credit. Makes you kind of wonder.
catcon is offline   Reply With Quote
Old 12-14-2010, 02:01 PM   #22
SoCalScribe
Member
 
SoCalScribe's Avatar
 
Join Date: Apr 2009
Location: Los Angeles, CA
Posts: 1,082
Default Re: Advice on Producer Attachment Agreement

Quote:
Originally Posted by SBScript View Post
I think it comes down to the viability of the project. If the regime at the studio knows they aren't going to make the movie, then they can spread some good will and create some partnerships by letting it go at a discount off the charges. From only a business perspective, as well, if they aren't going to make it, then they aren't going to see the money, so why hold on to it?
Actually, most companies do offer a discount. They'll calculate the total aggregate cost (to them) of the project, plus interest, and then will use that as their starting point of negotiations with the person trying to acquire the project. Unless a price is specifically stated in a turnaround clause, they'll usually end up settling for less than the full amount, like most negotiations. I've seen scripts turned around for as little of a discount as no interest on the principal amount, to as much as $0.10 on the dollar. Of course, there are also negotiations for - whatever reason - involve people who just won't budge or compromise in any way.

It all depends on the property in question. In most cases, some money is better than no money... but you're right. Sometimes people are just dicks and think they should get all (or almost all) of their money back on a project. There are businesspeople of all stripes
SoCalScribe is offline   Reply With Quote
Old 12-15-2010, 01:08 AM   #23
C.C.Baxter
Member
 
Join Date: Dec 2008
Posts: 708
Default Re: Advice on Producer Attachment Agreement

Quote:
Originally Posted by SoCalScribe View Post
Absolutely. But usually not stupid. At least not to the point of turning down recouping their investment just to be a dick about holding onto material.
I dunno... Ask the exec that let TWILIGHT get away. Summit was the second company to the party.

A BOYS LIFE was picked up in turnaround. Went on to be... E.T.

Maybe things have changed but I've spoken to writers in the past in that situation -- their best script tied up at some prod co and no way to get it back without paying a ton of $$.
__________________
"I talked to a couple of yes men at Metro. To me they said no."


http://wagstaffnet.blogspot.com/
C.C.Baxter is offline   Reply With Quote
Old 12-15-2010, 01:10 AM   #24
C.C.Baxter
Member
 
Join Date: Dec 2008
Posts: 708
Default Re: Advice on Producer Attachment Agreement

article on TWILIGHT:

http://articles.latimes.com/2008/nov...t-bigpicture18
__________________
"I talked to a couple of yes men at Metro. To me they said no."


http://wagstaffnet.blogspot.com/
C.C.Baxter is offline   Reply With Quote
Old 12-15-2010, 01:38 AM   #25
SoCalScribe
Member
 
SoCalScribe's Avatar
 
Join Date: Apr 2009
Location: Los Angeles, CA
Posts: 1,082
Default Re: Advice on Producer Attachment Agreement

Quote:
Originally Posted by C.C.Baxter View Post
I dunno... Ask the exec that let TWILIGHT get away. Summit was the second company to the party.

A BOYS LIFE was picked up in turnaround. Went on to be... E.T.

Maybe things have changed but I've spoken to writers in the past in that situation -- their best script tied up at some prod co and no way to get it back without paying a ton of $$.
Quote:
Originally Posted by C.C.Baxter View Post
There are a million reasons why something goes into turnaround, though. In the case of TWILIGHT, there was a set of criteria that needed to be fulfilled - including Paramount's approval - in order for MTV to proceed with the project as their own. They didn't get what they needed, and so they had a project sitting on the shelf. And it thus became an issue of selling off a stagnant asset, or keeping it shelved with all the money they invested still against it. I wasn't involved in the project so I can't say for sure... but what if Mark Lord's draft was insufficient? David Gale admitted as much in the article. What if the attachments didn't suitably impress Paramount? Even with a great script, it could have been a disappointing package of elements when MTV had it, before Catherine Hardwicke, Kristen Stewart, Taylor Lautner, and Robert Pattinson were involved.

A lot of people make the mistake of saying, "Because that movie was successful, the studios that passed on it first were stupid." But the original projects are rarely the same thing that's released. When E.T. was A BOY'S LIFE, it wasn't the same project with the same attachments. Same with TWILIGHT and HOME ALONE. They were different projects at those points, with different assets, strengths, and weaknesses.

Without knowing the actual terms of the turnaround agreement and the details of the project both in its original form and what ultimately was released by someone else, it's impossible to tell whether a studio passing on it or putting it into turnaround was a good or bad idea. TWILIGHT made Summit a ton of money. Would it have made MTV a ton of money? Maybe, maybe not. We'll never know how their version would have fared with audiences. SAHARA was a disappointment despite having a solid cast and being based on a very successful book by a bestselling author. Would it have still been a disappointment if it had been made differently, or with a different company? We'll never know how a different version would have fared with audiences.

It's almost never as simple as looking at a finished film and saying, "Wow, you'd have to be an idiot to pass that up." It may seem like that in retrospect... but if the industry has taught us anything, it's that nothing is a sure thing. There are plenty of people all over the industry who kick themselves when they let something go that turns out to be successful, and lament what might have been. But there are just as many people who sigh with relief when they let something go that they thought was going to be successful, and it turns out to be a mess.

You never can tell until it's done... and as a result, companies who give up projects can only use one measure as a barometer. Not its potential, or what it could be... but what it actually cost them. And they get business affairs and finance to do an analysis of how much they're willing to accept for someone to take the project off their hands (if they're willing to let it go). Sometimes, that number is just the cost of what they paid to buy it. Other times, that number is the cost of what they paid to buy it, and every cent they spent trying to get it made. More often than not, it's somewhere in the middle of those two extremes.
SoCalScribe is offline   Reply With Quote
Old 12-15-2010, 02:37 PM   #26
C.C.Baxter
Member
 
Join Date: Dec 2008
Posts: 708
Default Re: Advice on Producer Attachment Agreement

Good points.

Didn't mean to derail the thread. My position was that once a producer (even a small time one) becomes attached to a script, you need to make clear the terms of divorce. If the option expires, you should fix a fee the producer will receive for any notes/development/anything at some nominal amount.

A producer for a $1/no dollar option can put their name on your script, start giving you notes, and the option expire. THEN show up later if you land a deal with hand out saying, "Pay me $100,000" as I helped develop the script, gave you notes, and the screenplay was much different after you did my revisions and that's why you sold it.

Have a good pre-nup to that script marriage!

Of course, consult an entertainment attorney and your laws may vary, etc.

Re: turnaround. Agent I now sold a spec to a major company (back during the boom). Was a pre-emptive /take it off the table buy. Nice amount of money. Writer made out well BUT project never moved forward. The development/turnaround was so high, it's dead for good.

Another writer told me the same thing happened to his BEST script. He'd love to go shop it again, but it's dead as well.

Of course, lot of these 'big sales' we read about, they are step deals. You get paid the bulk of the money IF the film goes into production. Certain % up front. Some reps are pushing for the big sales/headlines rather than going with a company committed to make the actual film. Be careful on that as well. I'd rather take less money and get a produced film credit than make a headline.
__________________
"I talked to a couple of yes men at Metro. To me they said no."


http://wagstaffnet.blogspot.com/
C.C.Baxter is offline   Reply With Quote
Old 12-15-2010, 10:15 PM   #27
mlongton
Member
 
Join Date: Apr 2006
Posts: 533
Default Re: Advice on Producer Attachment Agreement

This is all interesting and useful, but I would find it very helpful if someone could define there terms:

1. producer option
2. producer attachment
3. producer shopping agreement
mlongton is offline   Reply With Quote
Old 12-15-2010, 11:33 PM   #28
SoCalScribe
Member
 
SoCalScribe's Avatar
 
Join Date: Apr 2009
Location: Los Angeles, CA
Posts: 1,082
Default Re: Advice on Producer Attachment Agreement

Quote:
Originally Posted by mlongton View Post
This is all interesting and useful, but I would find it very helpful if someone could define there terms:

1. producer option
2. producer attachment
3. producer shopping agreement

1. When a producer acquires the rights to your script and becomes the owner of your project for a specific amount of time, during which he has the option to fully purchase it, or return the script at the end of the option period.

2. When a producer agrees to become involved with a project, should that project get made. For example, a producer might say, "If you get a greenlight, I'll executive produce it." Or, "If you get a letter of guarantee from a distributor, I'll line produce it."

3. When a producer agrees to shop the script around to his contacts, usually exclusively, for a set amount of time to see if he can generate interest.
SoCalScribe is offline   Reply With Quote
Reply


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is Off
HTML code is Off
Forum Jump


All times are GMT -6. The time now is 02:55 AM.


Powered by vBulletin Version 3.6.2
Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Done Deal Pro

eXTReMe Tracker