A little break while you wait for us to announce this year's slate. As some of you may know, I write novels as well as screenplays, and blog at From The Write Angle with my literary friends. This particular article might hold some interest to filmmakers, so I'm posting it simultaneously here and on FTWA. Since most studio films start out as manuscripts or short stories (see my post on short stories), I recommend that filmmakers get to know novelists. Something good is bound to come from it.
Here's my article in
From The Write Angle: "Could The Next Hollywood Be New York?"
To work in the film industry, one goes to Hollywood; for
publishing, New York. But could that paradigm
change in the near future?
Way back in the 1990's, a book was something that came on
paper and a movie on film. To buy a
book, you went to the bookstore. To see
a movie, you went to the theatre or a video store. They were two very different businesses.
Today, both movies and books are digital files. If you want to buy a book, you go to Amazon,
iTunes, or Nook. To see a movie you go
to ... Amazon, iTunes or Nook.
For computers, the only difference between film and
literature is the size of the file. Tour
a publishing house or a digital film lab without looking at the computer
screens and you'll be hard-pressed to know which was which. They are both transcoding files for different
platforms, QCing those files, preparing metadata and art (posters or covers),
checking chapter breaks, compressing, and uploading them to the providers.
So, consider ...
Motion Picture Studios don't really make movies anymore; haven't for a
long time. Sure, they find the
projects. They develop the
material. They finance the productions,
and they distribute them, but the nuts and bolts of turning ink-on-paper into
images on the screen is jobbed out to production companies. Imagine makes movies mostly for
Universal. Village Road Show for Warner
Bros. etc. Of course there is a tight
partnership, since the Studios are often putting in most of the money, but even
that is beginning to lean more heavily in the direction of the production
companies.
Let's say you're a publishing house. The book industry has become so volatile that
you need some ballast. You need to
leverage the assets you have in a way that can spread the risk. But what assets are those? You have a company full of people who know a
good book when they read one, and they are willing to read a ton of them to
find the gems. You have a library of
good stories, and you're buying new ones all the time. But does that make you a valuable company, or
the most insane person in your neighborhood book club?
What's the first thing a movie studio does? They find the projects. You, as a publisher, are sitting on a
mountain of them. Not only have you
found the diamonds in the rough, you've polished them and presented them to
market. You have developed the material.
In your library are Romance Novels that could become a money
machine in your own Harlequin YouTube channel.
And you're buying new stuff. You
just shelled out cash and resources for Mindy McGinnis's Not a Drop to Drink, which is screaming for a wide theatrical
release. If you're good, you can lock up
the film rights before Hollywood knows what hit them.
In fact, the right of first refusal on the movie is now
going to be in your standard contract.
What's the next thing a studio does? They finance.
You're a publishing company.
You're in New York. You can't
swing a big black cat without hitting a handful of hedge fund managers who
would love to place a bet on a Big Six project.
Where the independent film producer has to beg and explain what they are
doing, you can say, "I'm the person who found Hunger Games and Harry
Potter. Wanna play with me?"
So, you've got the money.
You've got the properties. Now
comes the tricky part every homeowner can attest to, finding the right
contractor to build on your property. If
only there was a high turnover rate in Hollywood. Then there would be plenty of experienced
executives looking for the chance to get back into producing. They'd have the connections to put together a
string of companies to produce your entire slate.
Oh, wait! There IS a
high turnover rate of executives in Hollywood.
You can't swing a hedge fund manager without hitting a former studio
executive. Or, in my case, a current
festival director who gave you this idea in the first place.
So if this is such a brilliant plan, why hasn't anyone done
it before?
Not everyone has access to the intellectual property
you do, and there's distribution. In the theatrical days, a company had to have
a strong relationship with the theatre owners to squeeze their films into the
crowded market. That's still true of
theatres, but the future is on line.
You, as a new studio, are going to have to have a working relationship
with the platforms that distribute films, and – bingo! You do.
Amazon, iTunes, Nook, etc.
You've been delivering to them for years. You have servers and staff in place to QC,
package, and upload to all of these platforms.
Once you are delivering films, Netflix, Playstation, Hulu, Vudu, Cinema
Now and more will come knocking.
And you're vertically integrated. When people like the book they just read on
their iPad; one click and they're watching the movie. What?
The movie hasn't been made? They
can pre-order it You'll send it directly
to their device as soon as it's ready.
Talk about crowd funding, a movie could be profitable before it's even
shot.
And none of this takes into account the lower budgets on
films. The guilds all have "made
for New Media" contracts in place with attractive rates. Shooting digitally is a fraction of the cost
of the old film days. You could crank
out low budget Romance Movies as fast as Cali MacKay can write the books. For the bigger budget theatrical releases,
you can partner up with – and learn from – a major studio. In fact, they probably own your company
anyway, so the good faith negotiations will be a breeze.
But what about the writers?
Will new writers be willing to sell their film rights at the same time
they do their book? That's an individual
choice, of course, and I hope agents and writers alike will comment here about
their thoughts on the subject.
Personally, I'd say yes for a few reasons.
First, you're not selling the rights, you're selling the
exclusive option to buy the rights within a certain time period. At the end of that time - if they haven't sold it - you get to keep the
money you were advanced, and go try to
sell the option to someone else. If your
agent is good, you might sell a 3 year option from the contract date. It will take two years to get your manuscript
to market, and then one year to establish sales. Hollywood will read an unpublished
manuscript, but they won't take a lot of interest if it doesn't have sales
behind it, so you've been paid for three years of an option, when it's only costing you about six months of post-publising time.
Another reason to sell your film rights to your publisher is
that they will be into your project for a lot of money. Turning the red ink on your
balance sheet to black is a big motivator in the corporate world. They are going
to want your manuscript to be as big of a hit as possible, and that larger
investment is going to keep you on their hot sheet.
And finally, it's money!
Take it! Sure, most Hollywood
movies are based on books these days, but most books don't get made into
movies. Yes, there's a chance that
they'll hold onto the rights and do nothing, but they paid you. That's better than you and your agent
shopping the project around to production companies for nothing. Let your publisher take the project to the
same producers with the sales pitch, "and we have the money to produce
it." You're in a win-win all the
way.
Now, if only I could figure out how to make this a win for
me... because, you know, it's all about me.