Is this true?

I picked this off the net is it true?

My advice is stay away from producers, as they'll legally kill you with an option agreement... for your script, you will get £1.00, which is your option fee. this will give them ownership of your script for the next 6 months, with an automatic right to renew it for a further 12 months... IF, they manage to acquire funds, under the protection of UK law, you will be entitled to... 2.5% of the production budget, andthat's all.

Now then, imagine that you are a one hit wonder, and you write a story called, the blair witch project... it takes over 600 million, but the budget was £23,500.00 GBP Sterling... under the protection of UK law, you would only be entitled to enough money to buy a leatherman wave, which is all that you would need to open your wrists up....

Quote: Nigel Ball @ September 19 2012, 11:39 AM BST

for your script, you will get £1.00, which is your option fee. this will give them ownership of your script for the next 6 months, with an automatic right to renew it for a further 12 months... IF, they manage to acquire funds, under the protection of UK law, you will be entitled to... 2.5% of the production budget, andthat's all.

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That' s about the going rate for a first timer.
A good agent might tickle it up to 3.5% (with a minimum payment of, say, £35k) and £2k option - plus you'll usually get a writing fee fora new draft.
"Blair Witch" is not the norm, so not a good example to pick.

And if you stay away from producers you'll be seriously cutting down your chances of getting anything made.

A true man of wisdom. this was information I didn't know about now I can see why a lot of writers aim high with big budget films. I think they was useing the blair witch as an example of the lower the budget for your film the lower income you will receive from it. cheers laz

And of course, real micro-budget movies tend to be collaborative efforts with writer/producers/director etc sharing the production, raising the money etc.
They are unlikely to be hiring in a writer or buying in a script.

When the BBC optioned a script of mine the fee was 10% of a normal script fee. That gives them the right to keep it for a year. A friend of mine has just had an IDEA for a script optioned by a well-known Indie for the same amount. There is no script, just an idea.

Personally if an Indie producer offered me a quid option for my script, I'd offer them an option too. Either be serious or f**k off. There is no TV company on the planet that can't afford to spring you for a few hundred quid for a script they believe in. And if they can't, they're not worth working with.

Oh and you can't "stay away" from producers. They make the shows you're trying to sell, after all.

Just to add, I have heard of the 1 pound offer before but that was through a freelancing producer who wasn't tied to a production company. In that case I suppose you'd have to really look at the pros and cons of the offer - is the producer any good, would it be an investment etc. But largely I think if somebody wants to keep your script for a year, or even six months, you want a bit of bunce upfront to keep the writer happy and also to spur the producer on to get his money back.

Quote: Lee Henman @ September 19 2012, 12:54 PM BST

Oh and you can't "stay away" from producers. They make the shows you're trying to sell, after all.

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Quite, I mean, how else are people planning to get something made? Magic?

I think he means producers working for hire on existing shows rather than independent production companies or development executives within the network broadcasters. Might be wrong mind.

Quote: Lee Henman @ September 19 2012, 1:56 PM BST

Just to add, I have heard of the 1 pound offer before but that was through a freelancing producer who wasn't tied to a production company. In that case I suppose you'd have to really look at the pros and cons of the offer - is the producer any good, would it be an investment etc. But largely I think if somebody wants to keep your script for a year, or even six months, you want a bit of bunce upfront to keep the writer happy and also to spur the producer on to get his money back.

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The so-called "Dollar Option" usually is to do with funding, and where they're getting it from.
I've only had one of these , but it went hand in hand with a very healthy re-write fee - for not much re-writing - but as such it counted as development money.
To take the option up for a further period has always, in my experience cost more.

Quote: Lazzard @ September 19 2012, 2:09 PM BST

The so-called "Dollar Option" usually is to do with funding, and where they're getting it from.
I've only had one of these , but it went hand in hand with a very healthy re-write fee - for not much re-writing - but as such it counted as development money.
To take the option up for a further period has always, in my experience cost more.

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'Tis a minefield to be sure. I hate it. I suppose that's where a decent agent comes in.

Quote: Lee Henman @ September 19 2012, 2:17 PM BST

'Tis a minefield to be sure. I hate it. I suppose that's where a decent agent comes in.

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Yeah.
Comes in, then leaves with 20%.

Once you get into contracts, you do need one IMHO.
Mine's certainly earnt his cut.

Good advice sadly I'm still stuck in the haven't got an agent so I can't submit scripts but can't get an agent because I haven't been commissioned circle.
The amount of luck and skill needed to make it in this caper is breathtaking.

Quote: Teddy Paddalack @ September 19 2012, 4:45 PM BST

Good advice sadly I'm still stuck in the haven't got an agent so I can't submit scripts but can't get an agent because I haven't been commissioned circle.

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It's a tough circle to break but by no means impossible. Otherwise no scripts would ever get read and no shows would ever get made.

Thanks for that, a positive comment it cost nothing but it has real worth.

There's too much negativity in comedy. Which is bizarre because it's supposed to be a laugh.