A script option is a contractually agreed authorization that provides interested parties with exclusive rights to develop and purchase your script. Hollywood, however, takes advantage of the writers` despair. You`ll probably feel a lot of pressure to do several free writings and other extra work (writing treatments). But that doesn`t mean you have to accept that. So, how much money can an author expect from an option payment? The amount of an option payment can vary greatly. It`s really a negotiation process based on many factors, including the author`s background in the industry and the potential budget of the film. Producers will ask themselves a number of questions such as: Is this the writer`s first script or has the writer already sold several scripts to the studios? What would be a fair option payment if the film`s budget was $1 million versus $50 million? How much can we reasonably afford to pay the writer? In the film industry, an option is a contractual agreement on film rights between a potential film producer (e.g. B, a film studio, production company or individual) and the author of source material such as a book, play or screenplay for an exclusive but temporary right to purchase the script, provided that the film producer agrees to the terms of the contract. The caveat is that the undersigned company or individual has the first option to renew for an additional period – which is often within this three-stage range of 6 months, 12 months and 18 months. The third element is the amount of money the screenwriter receives from the producer or studio when the project becomes a feature film.
This is called the “purchase price”. Is it $50,000, $100,000 or more? Sometimes the purchase price is calculated on a sliding scale as a percentage of the budget, so the budget of the film increases, the purchase price also increases. All these numbers can be very different, but everything is negotiated in advance in the agreement, so all parties are on the same page. To be more precise, if a script is optional, the producer has not actually acquired the right to use the script; The producer has simply acquired the “exclusive right” to purchase the script at some point in the future if the producer manages to reach an agreement to make a film based on the script. So don`t be afraid to put on that business hat and protect yourself from the benefits. They will take you as far as you`re willing to go, in terms of free work. But strong writers are confident in their work and know that there is a limit to the amount of unpaid work done. Too many writers feel the need to do everything they can to make their relationships with the industry happy. However, this turned out to be to the detriment of the entire screenwriter community. Consider all your options and don`t be afraid to ask for an option fee if it`s not available. Since the option of a script is much cheaper than buying, options are very popular in Hollywood for speculative projects.