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FREE OPTIONS - THE BIG DEBATE
Do you take a free option or say "No," and hope that someone will pay a nominal amount to market your script? From the writer's POV - Producers expect a writer to spend months possibly years on a spec, and then be completely willing, or even grateful, to have that spec sent out to studios for absolutely no upfront investment. From the Producers viewpoint, they figure they will spend countless hours pitching the spec to the highly placed studio execs they have access to and they put their reputations on the line representing your work. They feel time is their investment. If your spec doesn't sell they don't get paid. I have to deal with this problem from both sides, because I am a Writer/Producer. When I option life release rights from an individual to sell their story as a True Story I am a Producer. I either have to pay for those rights, or ask for a free option. I too will spend months writing a treatment or spec and shop it to Producers and I have to pay my entertainment atty to write up the contracts, so I try to obtain the rights for as long as possible for as little as possible. The cliche TIME IS MONEY is true. Then when I find a Prod. who wants to option the story from me I ask to be paid for the option. Depending on the track record of the Producer and their ability to get a project a 'Green Light' I have accepted a short term (90 days) free option. The question you must ask yourself when considering a free option is: Can you get your script to the studio people who can say "Yes" and get it made by yourself? Or will your script sit on a slush pile until someone get's to it? If time is money, which we all agree it is, then how much time do you want to spend writing query letters or waiting for that mile high slush pile to dwindle down to your spec? It comes down to hold out, or hold off. For me time is more than money, it's irreplaceable. |
