on writing: a brief word on options

[lagilman]

Over in another forum, someone's asked for help. A production company wants to option one of his short stories for a film idea they're chasing (they're looking at a number of stories from a theme anthology, probably just covering their backsides). The thing is, what they're offering? A credit in the eventual film they might make. In exchange for tying the rights to his story up for a year.

I'm going to say here what I said to that writer: don't give your options away for free. Do not allow anyone to tie up rights to your work without compensating you. We're not talking a lot of money here -- a token payment is probably the best you can expect for a short story option. But that token payment might cover your grocery bill. Or your monthly utilities. Or, hey, if you fall into the right pot of honey, a mortgage payment.

Considering the odds of your story actually ever getting used are, well, wee, you need to get the money where you can. And make sure that you sort out the terms of the option, including renewal, in writing!

Okay, that's my rant. bgliterary? arcaedia? Want to weigh in on this, from your experiences?

Comments

Not like I'm an expert but...

[stakebait.livejournal.com]

My memory of the screenwriting panel at Noreascon might be wrong, but I think they were talking about $5,000 as a small-but-standard option for a short story. And they made very clear that that's just for the option, and you should expect another payment in the event that the film is actually made.

Re: Not like I'm an expert but...

[lagilman]

Depends on who is doing the optioning. Production companies, like publishers, run the gamut from no money to money. Zoetrope pays different than Joe Shmoe's Startup, fer'zample.

$5,000 seems pretty high for an option for a short story, unless you're a Name, but I might be wrong.

Re: Not like I'm an expert but...

[arcaedia.livejournal.com]

Unless you're a BNA (Big Name Author) that actually sounds more like a first option amount on a novel rather than a short story. Of course, it all depends on whether you're dealing with a production company, an independent producer, etc.

Re: Not like I'm an expert but...

[jimhines.livejournal.com]

I certainly wouldn't turn it down, though :-)