A first-look deal is any contract containing a clause granting, usually for a fee or other consideration that covers a specified period of time, a pre-emption right, right of first refusal, or right of first offer (also called a right of first negotiation) to another party, who then is given the first opportunity to buy outright, co-own, invest in, license, etc., something that is newly coming into existence or on the market for the first time or after an absence, such as intellectual property (manuscript, musical composition, invention, artwork, business idea, etc.) or real property (real estate).
In the film industry, it is an agreement between a writer and an independent production company or between an independent production company and a film studio in which the potential buyer (producer or studio) of a not-yet-written script or in-development film or television project pays a development fee to the writer or producer for the right to have the first look at the new material before others in the industry get to see it, and at that time make an offer to purchase or distribute or adhere to purchasing or distribution terms already stated in the agreement. [1]
A screenplay writer, scriptwriter or scenarist, is a writer who practices the craft of screenwriting, writing screenplays on which mass media, such as films, television programs and video games, are based.
Metro-Goldwyn-Mayer Studios Inc. is an American media company, founded in 1924, that produces and distributes feature films and television programs. It is based in Beverly Hills, California.
Universal Pictures is an American film production and distribution company owned by Comcast through the NBCUniversal Film and Entertainment division of NBCUniversal.
United Artists Corporation (UA), currently doing business as United Artists Digital Studios, is an American digital production company. Founded in 1919 by D. W. Griffith, Charlie Chaplin, Mary Pickford, and Douglas Fairbanks, the studio was premised on allowing actors to control their own interests, rather than being dependent upon commercial studios. UA was repeatedly bought, sold, and restructured over the ensuing century. Metro-Goldwyn-Mayer acquired the studio in 1981 for a reported $350 million.
A film producer is a person who oversees film production. Either employed by a production company or working independently, producers plan and coordinate various aspects of film production, such as selecting the script, coordinating writing, directing, editing, and arranging financing.
An independent film, independent movie, indie film, or indie movie is a feature film or short film that is produced outside the major film studio system, in addition to being produced and distributed by independent entertainment companies. Independent films are sometimes distinguishable by their content and style and the way in which the filmmakers' personal artistic vision is realized. Usually, but not always, independent films are made with considerably lower budgets than major studio films. In fact, it is not unusual for well-known actors who are cast in independent features to take substantial pay cuts if they truly believe in the message of the film, or if they are returning a favor to a filmmaker, or simply because they want to work with a particular director that they admire. There are many examples of the latter, such as John Travolta and Bruce Willis taking less pay to work with Quentin Tarantino on Pulp Fiction.
Right of first refusal is a contractual right that gives its holder the option to enter a business transaction with the owner of something, according to specified terms, before the owner is entitled to enter into that transaction with a third party. A first refusal right must have at least three parties: the owner, the third party or buyer, and the option holder. In general, the owner must make the same offer to the option holder before making the offer to the buyer. The right of first refusal is similar in concept to a call option.
A timeshare is a property with a divided form of ownership or use rights. These properties are typically resort condominium units, in which multiple parties hold rights to use the property, and each owner of the same accommodation is allotted their period of time. Units may be sold as a partial ownership, lease, or "right to use", in which case the latter holds no claim to ownership of the property. The ownership of timeshare programs is varied, and has been changing over the decades.
Filmmaking is the process by which a motion picture is produced. Filmmaking involves a number of complex and discrete stages, starting with an initial story, idea, or commission. It then continues through screenwriting, casting, pre-production, shooting, sound recording, post-production, and screening the finished product before an audience that may result in a film release and an exhibition. Filmmaking occurs in a variety of economic, social, and political contexts around the world. It uses a variety of technologies and cinematic techniques.
In the film industry, an option is a contractual agreement pertaining to film rights between a potential film producer and the author of source material, such as a book, play, or screenplay, for an exclusive, but temporary, right to purchase the screenplay, given the film producer lives up to the terms of the contract.
Imagine Entertainment, also known simply as Imagine, is an American film and television production company founded in November 1985 by producer Brian Grazer and director Ron Howard.
A production company, production house, production studio, or a production team is a business that provides the physical basis for works in the fields of performing arts, new media art, film, television, radio, comics, interactive arts, video games, websites, music, and video. Production teams consist of technical staff to produce the media. Generally the term refers to all individuals responsible for the technical aspects of creating a particular product, regardless of where in the process their expertise is required, or how long they are involved in the project. For example, in a theatrical performance, the production team has not only the running crew, but also the theatrical producer, designers and theatrical direction.
A film distributor is responsible for the marketing of a film. The distribution company may be the same with, or different from, the production company. Distribution deals are an important part of financing a film.
A studio system is a method of filmmaking wherein the production and distribution of films is dominated by a small number of large movie studios. It is most often used in reference to Hollywood motion picture studios during the Golden Age of Hollywood from the 1920s to 1960s, wherein studios produced films primarily on their own filmmaking lots with creative personnel under often long-term contract, and dominated exhibition through vertical integration, i.e., the ownership or effective control of distributors and exhibition, guaranteeing additional sales of films through manipulative booking techniques such as block booking.
The Writers Guild of Canada is an organization representing more than 2,500 professional writers working in film, television, radio, and digital media production in Canada. Members of the Guild write dramatic TV series, feature films, Movies of the Week, documentaries, animation, comedy and variety series, children's and educational programming, radio drama, as well as corporate videos and digital media productions. The organization administers the annual WGC Screenwriting Awards.
Film finance is an aspect of film production that occurs during the development stage prior to pre-production, and is concerned with determining the potential value of a proposed film.
A spec script, also known as a speculative screenplay, is a non-commissioned and unsolicited screenplay. It is usually written by a screenwriter who hopes to have the script optioned and eventually purchased by a producer, production company, or studio.
The Financial Interest and Syndication Rules, widely known as the fin-syn rules, were a set of rules imposed by the Federal Communications Commission in the United States in 1970. The FCC sought to prevent the Big Three television networks from monopolizing the broadcast landscape by preventing them from owning any of the programming that they aired in prime time. The rules also prohibited networks from airing syndicated programming they had a financial stake in.
Allspark, formerly known as Hasbro Studios, LLC, was an American production and distribution company located in Burbank, California. It was a wholly owned subsidiary of the American toy and multimedia company Hasbro. Originally just a TV production division, many of its TV shows were based on Hasbro properties and were broadcast on multiple media platforms, including Discovery Family.
DreamWorks Pictures is an American film company and distribution label of Amblin Partners. It was originally founded on October 12, 1994 as a live-action film studio by Steven Spielberg, Jeffrey Katzenberg, and David Geffen, of which they owned 72%. The studio formerly distributed its own and third-party films. It has produced or distributed more than ten films with box-office grosses of more than $100 million each.
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