“Unlocking the Secrets: Essential Do’s and Don’ts Every Aspiring Screenwriter Must Know Before Signing Their First Contract!”
As I sat in that polished office, heart racing and palms sweating, I can still feel the weight of a million dreams resting on my shoulders. You know that feeling when you think you’ve finally made it? When you hang up from a life-changing call that tells you – “Yes, we want you?” But then, reality crashes in like an unexpected plot twist, leaving you wondering, “What now?” It’s the moment you realize that signing on the dotted line is only the beginning of a much bigger journey. In the world of screenwriting, understanding the ins and outs of contract types can be just as crucial as perfecting your script. So, let’s dive into the murky waters of screenwriting contracts, and equip you with the knowledge you need to navigate this landscape with confidence. After all, the fate of your creative genius is at stake! Ready to learn the ropes? LEARN MORE.
You finally made it…
… now sign here.
I remember the stars in my eyes when I received my first call back, lifting the phone to my ear, hearing the producer ask me to come in for a second meeting regarding a project we had discussed. I went in for the follow-up, nervous to the shakes, and did my best to reinstate my approach to the idea she had shared. I felt awkward. I felt I was blowing it. I counted myself out. By meeting’s end, I was informed that I got the job and we’d be in contact.
I walked out of the office with a weight lifted off my shoulders, telling myself, I did it, finally. All those years of hashing out scripts and struggling to network had paid off. Reality hit me on my journey home…
I had no idea what kind of deal would be presented to me, nor what it would entail. What job was I going to be doing? How much would I get paid? How long would it take?
DO
familiarize yourself with screenwriting contracts and how they differ.
Option agreement
An option is when a producer purchases, or ‘rents’, exclusive rights to your script or concept for a given period of time. You retain ownership of your work while they explore potential talent to package, partnerships, financing, etc. They have sole rights to buy your script during or at the end of the option period. In the current marketplace, unpaid options are becoming more common, but many producers still pay. Options can include revisions of your work. If you want to receive compensation for revisions, make sure they are included in the contract.
Purchase agreement
This one is self-explanatory. It is when a producer or studio purchases your script or concept. The property is forever theirs’ unless they sell it elsewhere. If selling your ‘babies’ sounds tragic, remind yourself that a sale will be your biggest payday and, maybe more importantly, the closest step to production.
Shopping deal
A shopping deal gives producers the right to ‘shop around’ your script or concept to potential buyers. They are usually non-exclusive but…
