Posts Tagged ‘fiction authors’
Evaluating the Value of Your Movie Option, by David Farland
David Farland
(From David Farland’s Daily Kick in the Pants—Making the Runelords Movie)
So let’s say that you’ve written a short story or a novel, and a producer comes along and wants to buy your movie option. How much is it worth?
That’s a good question. Right now I’m negotiating a large contract. When I first spoke to one producer, he was surprised that I’d ask for so much for the movie rights to a book (we’re into seven figures). But when I explained the reasoning behind the valuation method, he said, “You’re absolutely right. This property is worth millions—probably more than you’re asking for—, and I’m happy to sign.”
So you, as an author you want as much as you can reasonably get. The producer will of course will want to negotiate as good a deal as he can get. There will almost always be some dickering.
There are a lot of complexities to this, but here are some thoughts. Please note that these method of evaluation a price aren’t cumulative. You choose only one method.
1) In Hollywood, an “idea” for a motion picture is worth a minimum of about $25,000. I know this because a few years ago I met a writer who went to studios and pitched one-line concepts. If the studio liked the concept, “A story about a homeless man who lives under the Statue of Liberty,” they’d pay him $25,000. Now, this was eight years ago when I met the pitch artist, so if you adjust for inflation, you might be able to get that raised a bit.
This number gives you a minimum. If you’re a no-name author who just sold a short story, and the producer wants to base a movie on your story idea, but this is going to be a very low-budget production, then this gives you the floor amount for just about any property. more »
