I see a lot of people on here discussing that their sitcoms have been optioned.
But what does 'optioned' mean?
What does 'optioned' mean?
Not that I'm any expert, but I thought it meant: "Someone pays you a big bag of cash for the rights to make your thing within the next x amount of time." After that time period (if the option has not been taken), the option lapses and you can sell the option rights to anybody else for more cash.
Dan
it's the right (usually exclusive), not the obligation, to produce said sitcom for a period of time. for example, Big Productions pay £5,000 to have the exclusive option to make Funny Sitcom Script for 1 year.
Quote: swerytd @ March 31, 2008, 10:31 AMNot that I'm any expert, but I thought it meant: "Someone pays you a big bag of cash for the rights to make your thing within the next x amount of time." After that time period (if the option has not been taken), the option lapses and you can sell the option rights to anybody else for more cash.
Dan
Yeah that's about right, you basically earn a bit of money to improve the script and after if they don't want it you're basically told to piss off.
Quote: Paul W @ March 31, 2008, 11:08 AMYeah that's about right, you basically earn a bit of money to improve the script and after if they don't want it you're basically told to piss off.
But you've got the money still though eh?
Option fees as far as I know can be notoriously low - a well-established tv writer mate of mine had his sitcom optioned by a large Indie company for a quid. I'm NOT joking.
So the big bag of cash thing isn't quite true to my knowledge. I think you'd have to be very lucky / well-known / already succesful to get more than a couple of grand for an option fee.
Quote: Perry Nium @ April 2 2008, 12:55 PM BSTOption fees as far as I know can be notoriously low - a well-established tv writer mate of mine had his sitcom optioned by a large Indie company for a quid. I'm NOT joking.
but that's not a blinding contract!
NB I am making a lame lawyer type joke.