The Value of a New Screenwriter's Script in Modern Hollywood

In 2018, the average price range for a new screenwriter's screenplay in Hollywood was quite diverse. Typically, it ranged from $50,000 to $250,000, though many first-time screenwriters sold their works for much less. This could be due to the script not being attached to a high-profile project or talent, or simply because the spec screenplay was less polished.

Spec screenplays, those written without the benefit of being commissioned, could fetch much lower prices, often around $10,000 to $50,000. Conversely, a well-polished and highly marketable script might command much higher prices.

Importantly, the genre, market demand, and the screenwriter's network all played significant roles in determining a script's value. For instance, a well-connected screenwriter with strong contacts in the industry might have a higher chance of getting a better deal for their screenplay.

However, considering that approximately 50,000 new screenplays are registered with the Writers Guild of America (WGA) annually, while only around 500 films of all budget types are produced each year, the average screenplay by a new screenwriter often doesn't sell at all. Many scripts either end up being given away by the writer or are merely optioned for a period.

Factors Affecting Screenplay Price

The sale price of a screenplay can vary based on several key factors:

Who the buyer is: If the buyer is a signatory of the WGA, they must adhere to the Writer’s Guild of America (WGA) minimum payment schedule. This schedule is crucial for ensuring fair payment for screenwriters, as shown in the table below. Script quality: The polish and marketability of the script significantly impact its value. A well-polished and well-written script has a better chance of securing a higher price. Network and reputation: A screenwriter's network and reputation in the industry can also influence the sale price. Established connections and a positive industry reputation can help increase the script’s value. Genre and market demand: The genre of the screenplay and its current market demand play a crucial role. Screenplays in popular genres or those with high market demand are more likely to fetch a higher price.

Summary of WGA Minimum Payment Schedule

Project Type Minimum Payment Original Dramatic Script $49,150 Original Comedy Script $49,150 Global Foreign Language Script (non-school project) $98,300 (original), $49,150 (adaptation of a national production)

Challenges and Misconceptions

Despite the varying factors affecting the price of a screenplay, several misconceptions remain. Many believe that getting an agent is the solution to selling a screenplay, but in reality, agents are often hard to come by and usually don't want to talk to unproven screenwriters. Similarly, securing a manager is equally challenging and not a guaranteed solution.

For the average new screenwriter, a better approach might be to:

Write a reputable script: Focus on creating a high-quality, polished screenplay that meets industry standards. Build a network: Attend industry events, connect with producers, and build a network of contacts in the industry. Consider options: Many screenplays might end up being optioned rather than sold outright. This gives the screenwriter some leverage and can be a better outcome in many cases. Get professional advice: Seek guidance from established producers, screenwriters, or agents to improve your chances of selling your script.

Ultimately, while the average screenplay might not sell for millions, there are ways to improve your chances of monetizing your work. For experienced screenwriters or those with the right connections, selling a script for up to $5 million is entirely possible, as seen in the case of Terry Rossio and Bill Marsili.

Conclusion

The value of a new screenwriter's script in Hollywood can range widely, from $0 to $5 million, depending on the quality of the script, the network of the screenwriter, and other external factors. While many scripts might not sell for a high price, the right approach can increase your chances of success. By focusing on writing a reputable script, building a network, and exploring options, new screenwriters can increase their chances of securing a better deal in the competitive world of Hollywood.