Selling Your Low-Budget Screenplay & Getting WGA Protection
March 23rd, 2005
Just becuase you wrote and sold a low-budget script does not mean you are not entitled to WGA protection and help. From the WGA site:
Here is a summary of how the Low Budget Agreement works: If you've written a screenplay and a producer is interested in buying and producing it, you may agree to defer all or part of your compensation. For films with $500,000 and below budgets, up to the entire purchase price, the first rewrite and the publication fee may be deferred. If the film is budgeted between $500,000 and $1.2 million, $10,000 of the purchase price is paid when filming commences, the rewrite may be completely deferred, and the publication fee is paid after credits are determined. We encourage writers and their representatives to negotiate over-scale deals and as much of an upfront payment as possible, and remind them that, at the least, Guild minimums stay in effect.
As of this writing, an original screenplay purchase minimum is $34,740, a non-original screenplay sells at $28,271, a rewrite is $16,965, and the publication fee is $5,000. The company may defer the remaining portion of money due until receipt of first revenue after production costs are recouped or commencement of commercial distribution, whichever is earlier. If you are a gross profit participant, you may be able to defer monies until profits start being paid. There are also enhanced creative rights provisions.
To get the full scoop, download the Low Budget Agreement Fact Sheet from our WGA.org site, click here
Here is a summary of how the Low Budget Agreement works: If you've written a screenplay and a producer is interested in buying and producing it, you may agree to defer all or part of your compensation. For films with $500,000 and below budgets, up to the entire purchase price, the first rewrite and the publication fee may be deferred. If the film is budgeted between $500,000 and $1.2 million, $10,000 of the purchase price is paid when filming commences, the rewrite may be completely deferred, and the publication fee is paid after credits are determined. We encourage writers and their representatives to negotiate over-scale deals and as much of an upfront payment as possible, and remind them that, at the least, Guild minimums stay in effect.
As of this writing, an original screenplay purchase minimum is $34,740, a non-original screenplay sells at $28,271, a rewrite is $16,965, and the publication fee is $5,000. The company may defer the remaining portion of money due until receipt of first revenue after production costs are recouped or commencement of commercial distribution, whichever is earlier. If you are a gross profit participant, you may be able to defer monies until profits start being paid. There are also enhanced creative rights provisions.
To get the full scoop, download the Low Budget Agreement Fact Sheet from our WGA.org site, click here
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