The answer to this question is not so straight forward. But you can kind of get a rough estimate. How much a screenwriter can sell their screenplay for depends on several factors—primarily whether the screenplay they are writing is an original spec screenplay, an original non-spec screenplay, a non-original screenplay, a treatment, a first draft or a complete package.
Is your head swimming with confusion yet? A lot of screenwriter’s have this question and, let’s face it, money is an important issue in anyone’s life. Without money we can’t pay the bills, put a roof over our head or afford a nice laptop and a cup of coffee at our local Starbucks (the essentials for any working screenwriter).
So, while a first time writer might not get paid in the millions of dollars for their first original screenplay, the good news is that they won’t get paid less than… approximately US $50,000. Why approximately?
Let’s go back to the beginning. If a screenwriter sells their screenplay then it is mandatory for them to join the Writer’s Guild of America (WGA). The WGA is effectively a union that works to deliver better terms and pay rates for professional writers.
Now, once you sell your screenplay you automatically become a professional screenwriter. And under the terms and agreements of the WGA, a professional screenwriter is guaranteed a minimum wage.
To give you an idea of the breakdown, check out the image below. This is taken from the WGA website.
As you can see, you will be paid a certain rate, known as scale.
Now, this minimum rate doesn’t mean a writer can’t sell their screenplay for a lot more money. There have been quite a few first time screenwriters who have sold screenplays for high six figures to low seven figures—and many more screenwriters who have sold screenplays for less than this.
So how does a writer sell a spec screenplay for high six figures? It’s quite simple. The screenwriter must be represented by a good, competent screenplay agent who is capable of starting a bidding war.
The screenplay agent will get in touch with studios, producers and anyone else who might be interested in purchasing the screenplay. Now, let’s say that a big studio like Warner Bros wants to buy a first time writers screenplay. The screenplay agent will put the word out to the other studios that Warner Bros wants to buy it.
The other studios will suddenly take interest. And their thought process will go something like this: Warner Bros wants to buy this script? Ergo this screenplay must be incredible. Maybe we should put in a bid to buy this screenplay too.
And thus ensues a bidding war.
Warner Bros wants to purchase the screenplay for $100,000.
Paramount puts in a bid to buy the script for $150,000.
Columbia bids $250,000.
Fox $300,000.
Warner Bros $350,000.
Universal $425,000.
And finally, Paramount steps in and bids for $550,000.
Here you can get a general idea of how a screenwriter might sell a spec screenplay. Now, this is a huge sale and the first time writer is still an unknown commodity to the film studios at this point.
So the studios are taking a risk when they buy the screenplay—because they are also hiring an unknown writer to work with.
That’s why established screenwriters, who have already written produced screenplays and worked with the major studios, get paid even more money. To give you an idea of how much a professional screenwriter can get paid, take a look at the following figures:
A Knight’s Tale – $2.5M
Mozart and the Whale – $2.75M
Medicine Man – $3M
Basic Instinct – $3M
Eurotrip – $4M
Talladega Nights – $4M
Panic Room – $4M
The Long Kiss Goodnight – $4M
Deja Vu – $5M
Impressive is it not? Now, remember, as a first time screenwriter you will not be clearing seven figures in all probability. But if your screenplay is the bomb and you have a good agent—you’ll be paying off that mortgage in no time at all!
Until that moment, when you do sell your script, remember… focus on writing a great screenplay that moves the reader! Do that and the money will take care of itself.
*Jennifer Sloane has worked as a screenplay agent in Los Angeles and Nashville for the last five years. Jennifer loves good movies, music and animals. A former television and movie executive, Jennifer currently heads business development at Script Mailer (a company that connects screenwriters with agents and producers in Hollywood).