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

Go Back   Done Deal Pro Forums > General > Classes, Contests, Conferences, Festivals, Groups, Panels & Seminars
FAQ Members List Calendar Search Today's Posts Mark Forums Read

Reply
 
Thread Tools Display Modes
Old 06-20-2020, 11:47 AM   #1
finalact4
Member
 
finalact4's Avatar
 
Join Date: Jun 2009
Posts: 2,756
Default Imagine Impact X Netflix

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...
  • $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?
Quote:
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.
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?
__________________
“Learn the rules like a pro, so you can break them like an artist,” Pablo Picasso
finalact4 is offline   Reply With Quote
Old 06-20-2020, 12:21 PM   #2
Friday
Member
 
Join Date: Mar 2016
Posts: 693
Default Re: Imagine Impact X Netflix

WGA minimum doesn't sound like a lot of money. It seemed like the other Impact program paid a lot more.

What are they looking for in the 30 second video? It sounds very vague.
Friday is offline   Reply With Quote
Old 06-20-2020, 01:32 PM   #3
finalact4
Member
 
finalact4's Avatar
 
Join Date: Jun 2009
Posts: 2,756
Default Re: Imagine Impact X Netflix

Based on previous submissions it seems the video is you pitching yourself. I don't know, I think, if I do it, this time I'm going to pitch the project.

Thirty seconds is both a lot of time and not a lot of time.
__________________
“Learn the rules like a pro, so you can break them like an artist,” Pablo Picasso
finalact4 is offline   Reply With Quote
Old 06-20-2020, 01:36 PM   #4
SundownInRetreat
Member
 
SundownInRetreat's Avatar
 
Join Date: Aug 2011
Location: Ingerland
Posts: 2,198
Default Re: Imagine Impact X Netflix

I've never heard of the terms accelerator and shaper before - can someone explain?

And this deal sucks. It's not just the slashing of the money that's an insult but the shutting out of the writer thereafter. That tells me all I need to know about how this company values writers.
SundownInRetreat is offline   Reply With Quote
Old 06-20-2020, 01:43 PM   #5
Friday
Member
 
Join Date: Mar 2016
Posts: 693
Default Re: Imagine Impact X Netflix

Quote:
Originally Posted by finalact4 View Post
Based on previous submissions it seems the video is you pitching yourself. I don't know, I think, if I do it, this time I'm going to pitch the project.

Thirty seconds is both a lot of time and not a lot of time.

The instructions look a little different. It seems more vague than the original Imagine Impact where they actually told you to answer a specific question in the video.

I wonder how much actual take home the writer gets after taxes and other things are taken out.
Friday is offline   Reply With Quote
Old 06-20-2020, 02:20 PM   #6
figment
Member
 
Join Date: Sep 2011
Posts: 991
Default Re: Imagine Impact X Netflix

Quote:
Originally Posted by SundownInRetreat View Post
And this deal sucks. It's not just the slashing of the money that's an insult but the shutting out of the writer thereafter. That tells me all I need to know about how this company values writers.
I think it's because of the Coronavirus -- they can't have writers moving to LA and meeting to work because everyone is supposed to be social-distancing.

If no one has to re-locate to LA, then they also don't need the 40k stipend which was provided, in large part, in order to move to LA for two months.
figment is offline   Reply With Quote
Old 06-20-2020, 02:51 PM   #7
SundownInRetreat
Member
 
SundownInRetreat's Avatar
 
Join Date: Aug 2011
Location: Ingerland
Posts: 2,198
Default Re: Imagine Impact X Netflix

Quote:
Originally Posted by figment View Post
I think it's because of the Coronavirus -- they can't have writers moving to LA and meeting to work because everyone is supposed to be social-distancing.
If social distancing is being observed, how are they able to pitch to Netflix and how does being attached/not being attached to the project affect social distancing when others are happily-attached as actors and producers?
SundownInRetreat is offline   Reply With Quote
Old 06-20-2020, 04:37 PM   #8
finalact4
Member
 
finalact4's Avatar
 
Join Date: Jun 2009
Posts: 2,756
Default Re: Imagine Impact X Netflix

Quote:
Originally Posted by SundownInRetreat View Post
I've never heard of the terms accelerator and shaper before - can someone explain?

And this deal sucks. It's not just the slashing of the money that's an insult but the shutting out of the writer thereafter. That tells me all I need to know about how this company values writers.
These are Imagine Impact terms that describe their program. The "accelerator" program is an 8 week intensive where you write a draft that is market ready. IOW, you write ****ing fast. The stipend allowed you to move to LA for 8 weeks and concentrate solely on your project. But I recall reading where some LA writers were still working their day jobs. Might have been a Reddit thread.

During the II1,2,3, they had you teamed with "Shapers" who are industry showrunners and other industry professionals to help you break your draft down and rewrite it by the deadline. They gave writing advice, too. You had meetings and panels where you actually we able to network and build relationships with people in the industry. You also had to create pitch and pitch it in front of industry professionals. This time the shapers will only give "non-writing" consultation, I don't know what that means.

SundowninRetreat,

I had a line producer interested in my epic to pitch it to Netflix because Netflix wanted to have their own IPs so they can compete with Marvel and the likes with their own IPs. This was a couple of years ago, so it seems II has struck the right deal for them to potentially achieve this.

I mean, if they're going to give Shonda $150 million for five years and Ryan $300 million, what have they got to lose with spending a measly $140k on a couple of specs, right?

This ask is for large-scale action adventures which means they want IP properties and they're expensive to make and are big draws and money makers. Imagine if they had a Pirates of the Caribbean original? Then offered it later to other streamers or even had a theatrical release, right? This might look like an inexpensive way to obtain them. I don't know.

It also sounds like when you deliver the two drafts, Imagine Impact parts ways with you and at this point Netflix owns your material and the is still no guarantee that they will develop it further, or at all, AND they'll own it.

I can't tell if you can negotiate a purchase price for the IP or if all they're offering is the scale payment. If that's the case, I don't want to submit, because I still can write the novels. I don't want to give up all those rights for a $140 K payday, you know? I can hold it back, which is what I've been doing. Working on smaller (not low budget) budget thrillers and a rom-com. I'm not opposed to waiting.

I found the stipulation that you cannot be attached in any other way other than writing...

Quote:
...the project is entirely owned by you without encumbrances and there are no attachments to the project, including yourself in any non-writing capacity (e.g. as a director, star, etc.)
figment:
It says this about the 30 sec video...
Quote:
Please upload a 30-second video telling us why this world and story need to be made into a movie.
__________________
“Learn the rules like a pro, so you can break them like an artist,” Pablo Picasso
finalact4 is offline   Reply With Quote
Old 06-20-2020, 04:49 PM   #9
figment
Member
 
Join Date: Sep 2011
Posts: 991
Default Re: Imagine Impact X Netflix

Quote:
Originally Posted by SundownInRetreat View Post
If social distancing is being observed, how are they able to pitch to Netflix and how does being attached/not being attached to the project affect social distancing when others are happily-attached as actors and producers?
You're asking two different questions.

I'm assuming pitching to Netflix (one company) is better for social-distancing than pitching to a hundred different companies, all crammed into one room, listening all day to writers pitch, and then meeting with all those writers. Writers who live in all different areas of the country and in other countries. Not safe for anyone.


Attachments:
I assume they don't want writers thinking they are going to DIRECT THEIR OWN FILM when they have no experience in directing, or, likewise, produce their own film when they've no experience in producing, and by stating as such they are trying to protect themselves and Netflix from being sued by a crazy writer, who, after having a project selected and vetted then decides they're Fincher all the sudden.
figment is offline   Reply With Quote
Old 06-20-2020, 07:07 PM   #10
Friday
Member
 
Join Date: Mar 2016
Posts: 693
Default Re: Imagine Impact X Netflix

How much did the previous Imagine Impact winners who received deals get?

The previous program sounded like you had a lot more opportunity to network and build relationships.
Friday 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 02:44 AM.


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

eXTReMe Tracker