If you’re a beginner writer and you’ve read about a new “spec sale” in the trades, you might not know what all the fuss is about.
A spec sale is when a spec script has been purchased by a studio or production company (a spec script being an original screenplay that you’ve written on your own and not on assignment).
Spec sales have always piqued the imagination of aspiring screenwriters and people working in the film business, especially in a marketplace that’s increasingly dependent on established IPs (intellectual properties). Just the idea that someone came up with an original idea for a movie and then sold it almost seems like a fantastical feat, and the bigger the sale, the more wonder it inspires.
Big spec sales aren’t a daily event, and when they do happen, everyone gets very excited about the news. It can create a long-lasting career for a screenwriter if they have good representation and make the most of their newfound “heat” (i.e. industry buzz).
Sometimes the spec script you sold doesn’t even have to end up getting produced in order for it to create a career for you. I broke into the film business with a big spec sale that got a lot of attention for several years. In fact, that script still gets brought up to me whenever I meet someone who was working in the industry back when we sold it. This proves that spec sales not only pique the imagination, stir excitement and create a buzz: they stick in the minds of people for years to come.
Every screenwriter’s journey is going to be different, but for me there were six degrees to my spec sale.
First and foremost, you can’t have a spec sale without a spec script, and you can’t have a spec script without writing one. In various past articles, I’ve broken down the steps to writing a screenplay (also check out Final Draft’s Learn Screenwriting page for further suggestions and tips). Once you’ve finished your script, you should get feedback before circulating it to industry professionals.
As a beginner screenwriter, when you’re circulating your spec script, you’re most likely looking for representation to help sell your script. This can be an agent or a manager or both. Although I was fortunate to score an agent thanks to an aforementioned spec script (and via an email query), these days you’re more likely to connect with a manager and not an agent when first starting out.
Managers have become “the de facto filtering system” for the screenplay marketplace, and they’re usually the reps most eager to take on a new client. Working the internet is the best way to get your script to a manager or agent. Search the trades, the Internet Movie Database (IMDb), industry message and tracking boards to find managers or agents who rep people who have written similar scripts. There are also many screenwriting contests you can enter your script into. Some like Final Draft’s Big Break Screenwriting Contest offer meetings with top management companies as a prize.
Despite loving our spec script and wanting to rep me and my writing partner, our first agent still thought the script needed work and we received one note: “Give it a story.” This might sound funny to some people, but to a couple of young beginners it was a novel concept. The first draft of our spec script was laugh-out-loud funny and had a movie-star worthy lead character, but it was short on story and lacked a compelling log-line.
The script’s second and third acts were heavily rewritten and the script now had a compelling storyline. Suddenly the script was considerably more marketable, and roughly one year later we sold it.
This is one of the reasons why I often stress the importance of rewriting. Not only is it one of the primary jobs of a screenwriter, it can potentially increase your chances of selling your script. So whether your manager is requesting a page one rewrite or merely a polish, you should be open to it.
This is perhaps the most exciting and nail-biting time when on the road to a spec sale: your reps going out with your script. Depending on its marketplace potential — whether it’s broad or niche — your reps might take a more targeted approach and submit your script to specific production companies, directors or actors they know are looking for similar projects. However, they might also “go wide,” which means they send it out to as many people in the industry as possible in one giant bombardment.
Regardless of the approach, it’ll likely take weeks if not months before the right elements come together that can lead to a spec sale. In some cases, if a production company gets involved early on, you might have to develop the script further with them (i.e. do another rewrite) before they attempt to attach talent.
Although it’s definitely possible to sell a spec script without talent attached (especially if it’s high concept), your chances greatly increase when there’s a bankable attachment. An “attachment” means that an actor or director has read your script, liked it and they have agreed to take part in the project.
The bigger the star or director, the greater the likelihood of selling your script. However, there are some actors and directors who aren’t household names yet, but due to a certain role or film, they have a lot of heat in the industry. Similar to the way heat works for a screenwriter with a “hot script,” many people in the industry want to work with these actors and directors, and their attachment adds significant value and increases your script’s salability.
As with a manager or producer, an actor and director are likely to have notes. Sometimes you’ll have to rewrite the script per their notes before your team attempts to “set up” your script (i.e. get a studio or a financier to purchase it with the purpose of developing it into a movie). Other times, a rewrite will happen after your script is purchased, and you’re paid to rewrite it (for obvious reasons, this is the ideal scenario for a screenwriter).
You’ve got all the elements in place and your reps have successfully shopped and sold your script. In most cases, it’s a studio that will buy your script, but in some cases, an independent financier or production company may purchase it.
Many times a production company will option your script, but this shouldn’t be confused with a script sale. A script option means the optioning party only has your script for a limited time. A script sale is more definitive: the purchaser will own your script indefinitely, and they’re contractually obligated to compensate you financially for it.
In other words: you get paid!
After all the time spent writing and circulating your script, finally selling it and becoming a paid writer is one of the most gratifying moments you’ll ever experience.
So when you’re in the trenches with your script and think it might be going nowhere, do your best to stay motivated and don’t forget what you’re working towards.