Okay, here's a biggie -- what do you think the future of the spec market is, given the dispiriting reports from Life on the Bubble?
I think it will be the same as it has been since spec scripts first appeared on the scene about 4 decades ago: Some times the market will be hot, other times the market will be cold, and most of the time it will be some place in the middle.
There are several contributing factors to the 'heat' of the spec marketplace:
* Whenever there's a new head of production for one of the major studios, invariably that studio will make a big splash in the acquisition marketplace. Just last week, Paramount, which recently went through a massive management shake-up, outbid a number of studios to acquire a big-ticket pitch "License to Steal". Seeing as management changes occur at studios every 18 months or so, that's a built-in jolt for the spec marketplace.
* Impending work stoppages, especially with the WGA, can result in studios buying more spec scripts than normal in order to stockpile projects. Logically, of course, this means that the studios will buy scripts they wouldn't otherwise touch, but in a heated situation of an impending strike, logic tends to fly out the window.
* Then there's the mob scene mentality. Every so often, for no apparent reason other than the confluence of a few great scripts hitting the marketplace at the same time, Hwood will get all hot-and-bothered about spec screenplays. So if two or three scripts sell for seven figures in a 1-2 week period, that can create a buying frenzy for a month or so.
* Of course, the biggest contributing factor to a hot marketplace is the quality of the scripts being circulated. Most often, the material just isn't that good. I hear this a lot from the script readers I know -- complaining about scripts submitted by CAA, WME, ICM, UTA, the top agencies in town, scripts that are actually quite poor in terms of concept, execution, etc.
* Then there are times when the studios get a bug up their collective butt about spec scripts -- spending so much money on projects that languish in Development Hell. So they put their focus on pitches, which are (a) generally less expensive and (b) allow the studio more input earlier in the creative process. Then those same pitches end up on the scrap heap, so the studios do a one-eighty and get all lathered up about the value of a spec script. "We didn't have to do any guess work to see the movie, like we do with pitches. Besides the writer did more of the creative work, which means less effort on our part."
Fortunately for writers, we have two things on our side re the spec marketplace. First, Hwood is always on the lookout for a great script. Second, each one of us has the capability to write that great script.
Now go write it.
There are several contributing factors to the 'heat' of the spec marketplace:
* Whenever there's a new head of production for one of the major studios, invariably that studio will make a big splash in the acquisition marketplace. Just last week, Paramount, which recently went through a massive management shake-up, outbid a number of studios to acquire a big-ticket pitch "License to Steal". Seeing as management changes occur at studios every 18 months or so, that's a built-in jolt for the spec marketplace.
* Impending work stoppages, especially with the WGA, can result in studios buying more spec scripts than normal in order to stockpile projects. Logically, of course, this means that the studios will buy scripts they wouldn't otherwise touch, but in a heated situation of an impending strike, logic tends to fly out the window.
* Then there's the mob scene mentality. Every so often, for no apparent reason other than the confluence of a few great scripts hitting the marketplace at the same time, Hwood will get all hot-and-bothered about spec screenplays. So if two or three scripts sell for seven figures in a 1-2 week period, that can create a buying frenzy for a month or so.
* Of course, the biggest contributing factor to a hot marketplace is the quality of the scripts being circulated. Most often, the material just isn't that good. I hear this a lot from the script readers I know -- complaining about scripts submitted by CAA, WME, ICM, UTA, the top agencies in town, scripts that are actually quite poor in terms of concept, execution, etc.
* Then there are times when the studios get a bug up their collective butt about spec scripts -- spending so much money on projects that languish in Development Hell. So they put their focus on pitches, which are (a) generally less expensive and (b) allow the studio more input earlier in the creative process. Then those same pitches end up on the scrap heap, so the studios do a one-eighty and get all lathered up about the value of a spec script. "We didn't have to do any guess work to see the movie, like we do with pitches. Besides the writer did more of the creative work, which means less effort on our part."
Fortunately for writers, we have two things on our side re the spec marketplace. First, Hwood is always on the lookout for a great script. Second, each one of us has the capability to write that great script.
Now go write it.
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1 comments:
Nice article. Do you have any insights on the TV writing market you could share? Thanks!
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