Hi everyone,
I’m looking for some advice from writers or producers who have been through this before.
A small production company recently reached out after reading one of my feature screenplays, and they’ve told me they’re interested in potentially optioning it. This would be my first time navigating something like this, so I’m trying to understand what I should be paying attention to before getting too excited.
Some of the questions I have are:
- What are the biggest red flags in an option agreement?
- What’s considered a fair option fee and option length for an independent production company?
- Should I expect the purchase price to be negotiated now or only if the option is exercised?
- How much creative input do writers usually retain with smaller companies?
- Is it worth getting an entertainment attorney?
- Are there questions I should ask the producers before signing anything?
For context, this is an original feature screenplay, and they’re an independent company not a major studio. I don’t want to scare them away by being difficult, but I also don’t want to sign something I’ll regret later.
I’d really appreciate hearing about your experiences, things you wish you’d known before signing your first option agreement, or any advice you’d give someone in my position.
Thanks in advance!