Hello
We are about to begin work on a film I have been planning for a while. I have gotten a producer to come aboard to oversee the filming. He has worked on a lot of low budget films. Anyways he presented us with a contract in which it states that he would be compensated 20 percent of the revenue once the film is sold. He claims this is a standard producer contract. My question is 1) Is 20 percent fair to compensate someone that hasnt put in money. 2) If its not fair what price would be fair. He has resources and connects. So maybe to justify the 20 percent i could see him pushing the film to get sold. Any input would be greatly appreciated.
We are about to begin work on a film I have been planning for a while. I have gotten a producer to come aboard to oversee the filming. He has worked on a lot of low budget films. Anyways he presented us with a contract in which it states that he would be compensated 20 percent of the revenue once the film is sold. He claims this is a standard producer contract. My question is 1) Is 20 percent fair to compensate someone that hasnt put in money. 2) If its not fair what price would be fair. He has resources and connects. So maybe to justify the 20 percent i could see him pushing the film to get sold. Any input would be greatly appreciated.