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The multiple values of a spec script

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Per Deadline about a project called “Responsible Adults”:
Holmes plays 30-year-old-med student Liz Quinn, who meets charming 22-year-old Baxter Wood (Crawford). Their chemistry is electric until she realizes they have already met – she was his babysitter 15 years ago. But Baxter isn’t going to give up that easily on the one person he always felt knew him better than anyone else.

Kirk D’Amico, Myriad Pictures CEO said, “We look forward to working with Michael Roiff again and with Julie Yorn. The script is very funny. Katie Holmes and Chace Crawford are appealing actors around the world. And Jon Poll is a a terrific filmmaker. We are really pleased to help bring Responsible Adults to the big screen.”

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Roiff describes how the project came to be. “Alex Schemmer and I went to Harvard together and acted in the Hasty Pudding Show. He asked me to read his script and my whole office flipped for it. One thing led to another, we attached Jon and then partnered with Julie. Now we’ve added Katie, Chace and Myriad – a fantastic team – the next stop is making this film a reality.”

Responsible Adults is Schemmer’s first screenplay. He is also an actor who appears regularly on numerous television series.

We focus a lot of energy on spec scripts, especially sales. But a spec script is much more than a potential sale. There are multiple values of a spec script:

* Representation: A great spec script can get you a manager and/or agent.

* Writing sample: A great spec script can serve as a writing sample to promote your creative abilities.

* Meetings: A great spec script can act as your calling card and get you meetings with producers, studio execs, talent, etc.

* OWAs: A great spec script can put you into a position to go up for OWAs.

* Options: A great spec script can get optioned even if it doesn’t sell. Option fees can be as little as $1K, up to $25K, or even higher. Generally in the $5-10K range.

* Potential project: A great spec script can generate heat and evolve into an independent film project, just like “Responsible Adults.” It may take awhile longer to see a payday than an outright sale of the material, but a spec script is an asset, the potential always there to make something happen.

So while we may get all excited about spec script sales, as we should, those numbers represent the tip of the iceberg of what business is being transacted related to all spec scripts in circulation.

A perfect example is this story that broke last night, about how a script reader for Harpo Films — on the strength of his unsold spec scripts and a strong pitch — was hired to write the new Merlin project at Warner Bros.

Takeaway: There is no downside to writing a spec script and much upside, even if it doesn’t sell outright.


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