A Guide for Your First Script Purchase as a Producer
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Congratulations! You decided to become a producer. The good news is that you can get a business card and slack together a website and call yourself a producer. The bad news: no one will take your seriously, unless you have either of the below:
- Credentials (we’re talking about IMDB creds)
- Financing (Preferably unattached funds — meaning you call the shots)
In many cases it helps to have both, but without either, it’s game over. Optimistically, let’s assume you have one or both of the above, what’s the first step?
STEP 1 (The Hardest Part)
- Find the product (aka. Scripts/Writers).
As a new producer, this step will be one of your most challenging and is where many new would-be producers give up. The challenge is not due to the lack of screenplay products available, but the mere fact that every screenwriter you speak with believes their script is great, brilliant and will be the next Scorsese or Jenkins film. So, weeding through hundreds of submissions and scripts on a daily or weekly basis is both time consuming and inefficient.
Fortunately, there are a couple of options: some better than others.
- Post a request for a script via classified ads like Craigslist
- Ask for a referral
- Source through a vetted marketplace like Blacklist or WoAccelerator, which provides a pre-production ready script.
Getting a “pre-production ready” script is critical for you as a new producer, as it allows you to bypass what many in the industry call the “development hell” phase. Even with the plethora of content being produced on streaming services, 99% of scripts never make it past this phase.
You’ll also want to acquire/option multiple scripts to improve your chances that one of the pre-production ready scripts has a fighting chance.
STEP 2 (Hard Numbers, Easy Part)
With the script in hand, you’ll want to bring in one of the following:
- line producer
- unit production manager
- production accountant
Anyone of these roles can help specify the budget of the film which usually is sourced from a combination of investors, tax credits, grants, and other sources of financing.
You’ll also want them to prepare a pitch deck or presentation for Step #3
STEP 3 (The Longest Part)
If you successfully completed steps one and two, our advice in step three deviates from most — Don’t try to pitch to Winfrey, Perry or Spielberg on your acquired script. Even with a self-funded project, the odds are the same as getting a ride on Jeff Bezos Blue Origin anytime soon.
Instead, you will want to look for lesser-known directors, with fresh a fresh vision and some work under their belt, perhaps with laureled short films. Or think outside of the box: talk to stunt coordinators, Assistant Directors with major motion picture experience, etc.
This is where you will want to rely on verified IMDB credentials and references. Because you’ll be interviewing quite a few people, this step will take some time.
NEXT STEPS
With steps one two and three done, you are on your way to calling yourself a real executive producer. Although the film is not yet produced, you have acquired the three essential ingredients:
- The script/screenwriter (Optioned Material)
- The director (Acquired a letter of intent)
- Accountant (Locked in a budget from a reputable source)
Possibly the hardest part to finding a gold mine and great commercially viable story is done: Script Development.
Assuming the budget is in place and funded, at this point you will be hiring other people to take on the remaining tasks, overseeing the process to ensure the budget and goals are adhered to in order to get your film into the audiences hands while making a decent profit.
And Here are the four remaining processes:
- Pre-Production
- Production
- Post Production
- Distribution
Note the above formula is for the film product. TV products have slightly different processes, which we’ll highlight in another article.
