Hello everyone,
I'm a screenwriter, and I've been asked to adapt someone's mystery novel for an indie film with a total budget of $500,000. This person will be the executive producer and is offering to pay me my fee plus a percentage of the profits.
I am wondering if anyone can give me any direction as far as an appropriate fee to propose. I have no previous credits or script sales.
Thanks, Dom
Congratulations. Just because you don't have credit, don't discount yourself. You must have some talent to be invited to adapt the story.
First, I'm assuming the producer is also the author of the mystery. If not, the first thing that needs to be done is to secure permission to make the adaptation. And if commercially published, make sure the author didn't transfer that copyright to the publisher.
Second, be clear if they want this is as a work for hire. If you are hired by the production company, you don't have copyright of your script, they do. This isn't a bad thing but it means you have no further control over the script you produce.
Third, you can ask for lots of things but be clear in your mind what you'll accept. As Directorik suggested, payment can be divided in thirds. And working with major studios, they adhere closely to this. The WGA guidelines (
http://www.wga.org/uploadedFiles/writers_resources/contracts/min2014.pdf) are often out of the Indie range. Even in the indie market, for an established writer, $10K is not unreasonable, though for many new writers $5K is acceptable since that is often the option price. In working with independent producers, obviously you also need to be flexible with respect to budget and other needs. Getting credit and a percentage of the profits can figure into that. If it were your story and your screenplay you could expect more. Since it's someone else's, you can only be paid for the adaptation. The 2.5% comes out to $12,500. But anything in that range would not be unreasonable. For that budget, I wouldn't go under $5K. It can be offer and counteroffer. Unless you have an agent or are a member of the WGA, it comes down to negotiating on your own behalf. But in the end, it comes down to what offer you are willing to accept to write the script.
Fourth, be clear what you will commit to write: draft, final and one revision. If additional revisions are required, the compensation should be documented. Be careful to spell that out as it can be a major headache.
Congratulations and good luck.