When a movie studio wants to adapt a writer’s work they “option” it, which means they pay you to NOT make a deal with another studio while the project is in development.
Yes it does come with a price, and the studio or production company pays it. I don't have enough experience to know how much but I expect it depends on who's paying!
Mom's Cancer was optioned by a small independent production company; I don't remember how much they paid me, but it was certainly less than $1000 (which was fine by me, I wasn't getting any other offers and I liked their ideas). A big studio optioning a bestselling book would pay a LOT more than that.
Options also have a time limit, typically something like one or two years. After that, the writer is free to sign with someone else.
Does optioning typically come with a price? Do studios pay for this? And how much?
Yes it does come with a price, and the studio or production company pays it. I don't have enough experience to know how much but I expect it depends on who's paying!
Mom's Cancer was optioned by a small independent production company; I don't remember how much they paid me, but it was certainly less than $1000 (which was fine by me, I wasn't getting any other offers and I liked their ideas). A big studio optioning a bestselling book would pay a LOT more than that.
Options also have a time limit, typically something like one or two years. After that, the writer is free to sign with someone else.
What a cynical bunch. Predators.