The Business of Screenwriting: Everything You Wanted to Know About Specs
Part 19: The value of a spec script… even if it doesn’t sell.
“There’s every reason for you to have a goal of writing a spec script and selling it. Take that dream, make it your own and use it to fuel your creative aspirations. But also know this: Even if that spec does not sell, it still has value to you as a writer.”
I’m guessing that perhaps 90% of the people who follow this blog at some point in their lives will write a spec script. And the other 10% are involved in buying and selling them. In light of that fact, last year I interviewed a top manager and some Hollywood screenwriters about the ins and outs of what is involved in bringing a spec script to market. I’ve been waiting for the right opportunity to do something with that inside information, so a few years back when Vanity Fair came out with this article — When the Spec Script was King — a decent piece, but pretty surface level, I figured it was a good time to dig into the subject in a comprehensive fashion.
Note: Original posts updated to reflect current market.
In Part 1, we looked at the genesis of the spec script in Hollywood from 1900–1942.
In Part 2, we covered the emergence of the spec script market from 1942–1990.
In Part 3: Boom, Bust, Back Again, But Now…?[1990–2019]
In Part 4, we surveyed the buyers, both major studios and financiers.
In Part 5, we examined the screenwriter-rep relationship in terms of developing a spec script.
In Part 6, we explored rolling out a new writer’s spec script.
In Part 7, we delved into the subject of attaching producers.
In Part 8, we considered the value of attaching talent.
In Part 9, we learned about reps wanting to “own all the tickets.”
In Part 10, we dug into how reps generate buzz for a spec script.
In Part 11, we looked at the practice of slipping a script to someone.
In Part 12, we acknowledged the role that serendipity can play in the process.
In Part 13, we discussed the strategy of targeting specific buyers.
In Part 14, we drilled down into the strategy of going wide.
In Part 15, we indulged in the ultimate fantasy of a bidding war.
In Part 16, we got a first-hand account of a preemptive purchase.
In Part 17, we went down one creative choice to write what they’re buying.
In Part 18, we pondered another choice to sell them your dream.
Part 19: The value of a spec script… even if it doesn’t sell.
Obviously your goal is to write an original screenplay that sells. That’s the fantasy, right? Seven figure deal. Big splashy item in the trades with great quotes from the buyer: “An incredible script with a fresh, distinctive voice.” Buy a house in the Hollywood Hills. Trade in the Chevy Vega for a Porsche. You know, the whole La La Land nine yards.
The fact is, however, most spec scripts do not sell. And yet they can have real value to you as a writer in many other ways.
- They can get you representation: If you are outside the business, a quality spec script with a strong story concept that is well-executed can get the attention of a manager who could take you on as a client. Depending upon who you are, what type of script you’ve written, what genre you specialize in, and how strong your writing is, you may end up with an agent as well.
- They can create access to buyers: Once you are represented, you are officially in the game because all the buyers who do not look at unsolicited material will now consider your scripts because you are represented.
- They can serve as a writing sample: Because everyone in Hollywood knows how hard it is to sell a spec script, they understand there is a lot of good material floating around that is not set up. So it’s possible for your reps to use an unsold spec script as a writing sample to send around town.
- They can create meetings: Whoever responds to your writing sample becomes a target for your reps to set up a meeting. Getting face time with producers, talent and studio execs is critical, to put your mug, your personality, and your creativity into their consciousness. Plus you never know where a meeting may lead, now or in the future.
- They can put you in the OWA game: Your writing sample can open doors for you to go up for Open Writing Assignments.
- They can be optioned: An option offers significantly less money to a writer than a sale, but a deal is a deal, and beyond the cash, the PR value of landing a deal can be considerable as it adds to the perception you are a hot commodity.
- They can be an asset: Just because a spec script doesn’t sell now doesn’t mean it won’t sell down the road. For example, the spec script “The Chung Factor” sold in November 2011. It made the Black List in 2005. That’s 6 years! Times change, tastes change, business cycles change. Your horror zombie psycho dude musical may not fit a niche now, but in 2015, it could slot right into that future Zeitgeist.
And then there is this intangible: The experience you gain as a writer by writing spec scripts.
I’m reminded of screenwriter John Swetnam who said in this interview he wrote 16 specs before making his first sale “Evidence.” That script has been produced and the movie comes out in theaters in a month. If we asked John did he have to write all of those 16 scripts in order to acquire the knowledge and experience he needed to write “Evidence,” I’m sure he would say yes.
There’s every reason for you to have a goal of writing a spec script and selling it. Take that dream, make it your own and use it to fuel your creative aspirations.
But also know this: Even if that spec does not sell, it still has value to you as a writer.
Next week: The value of a spec script… if it does sell.
If you have additional questions or areas you want addressed related to spec scripts, please post in comments, and I will be happy to consider adding however many more posts to respond to your inquiries and concerns.
The Business of Screenwriting is a weekly series of Go Into The Story posts based upon my experiences as a complete Hollywood outsider who sold a spec script for a lot of money, parlayed that into a screenwriting career during which time I’ve made some good choices, some okay decisions, and some really stupid ones. Hopefully you’ll be the wiser for what you learn here.
For more articles in The Business of Screenwriting series, go here.
