Reviewing “Seven” in my newsletter brought me back to a time when screenwriters could change their lives overnight. All they had to do was a write a good screenplay and – BOOM – they were millionaires.
Those sales then did double-duty for them, as their names would be splashed all over the trades. This would result in everyone in town wanting to meet with them. Which would establish contacts for these writers that they could use to write high-paying work for the next decade.
What happened to that world and how can we get it back?
A number of things happened. For starters, the internet screwed up the agency’s con. A big part of how scripts got sold in those days was that an agent would send a script out (hard copies, remember, not pdfs) to 7 studios and because all parties were isolated from one another, studios would freak out, afraid to lose a hot spec to a competitor, and therefore bid on that script out of fear, regardless of it it was any good.
Once the internet arrived, Roy Lee, a producer now at Warner Brothers, created an online chat room where assistants could share their thoughts on scripts. Therefore, when a script went out this time, it got photocopied quickly and, within hours, everyone was reading it. These assistants now had a central location to share their thoughts on the script, which would allow a quick consensus on if a script sucked or not.
And here’s the open secret about agency-endorsed screenplays (both then and now) – most of them are bad. Now, that badness was being exposed. So that previous strategy of scaring studios into bidding on bad material didn’t work anymore. This killed a lot of sales that would’ve gone through in the previous era.
Another thing that happened was that the studios all agreed not to share sale numbers anymore. They did this because the news stories about scripts selling for 2 million dollars were driving up script prices. So if you stopped telling people how much a script sold for, the trades were less likely to write a big story about them. And this would allow the studios to bring script prices down to a reasonable level.
I still don’t understand why agents agreed to this. It’s in an agent’s best interest to promote a big spec sale because it will get their client more work as well as themselves more money. The conversation may be more nuanced. I know that, sometimes, a script would sell for a lot less than expected and, in those cases, the agents would want the script price to be vague. That way they could hint that it was bigger than it was.
But just the fact that the trades no longer posted these numbers hurt the script sale business immensely.
But now we get to the biggest reason spec script sales plummeted – THE SCRIPTS WERE BAD. Go ahead and read some of these old million dollars sale scripts. Or just go back through my archives. They’re in there. These scripts were average at best. And so, when they got made, they didn’t make enough money. And when that happened enough times, the studios said, “We’re not following that carrot anymore. We know where that carrot leads.”
The inflection point was 2014’s Transcendence, with Johnny Depp. That was a spec script. That was an expensive movie. And it just SAT THERE. Nothing happened in that screenplay (which I erroneously gave a decent review to). So nobody showed up. And I specifically remember the drop-off of script purchases that occurred after that movie’s first weekend. And the market never recovered.
Which leads us to the post’s big question: How do we bring spec script sales back?
For one, trades have to write about them again. One of the reasons spec scripts became so big in the first place was all the stories that the trades would write about them. If someone sold a big spec, there’d be a giant Variety article that would go into detail about the writer – where he came from, how he conceived of the idea. It was exciting! I still remember reading that article about those valet guys who wrote a spec about valets that made a million bucks. Those stories drive interest in screenwriting. We need them. And nobody writes them anymore.
I’ve thought about writing them myself. But there is some conflict-of-interest. When I have made some calls to get info and developed relationships with those buyers in the past, it would get complicated when I would then have to review the script (or another script from the same production company). I’d notice that I was a little easier on the material than I would normally be. But it’s something I should consider because that sacrifice could be worth the industry having a place where they can consistently read the latest screenwriting success story. Let me know in the comments if you think I should do this. It might mean not being able to review those scripts, though.
We need to publish script sale numbers again. Agents and managers should be promoting those numbers like crazy. It’ll lead to their clients making more money on future projects! Which means more money for them! I don’t care if these spec sale prices are low at first (250 grand, 350 grand). They will grow over time if we keep our foot on the gas and keep writing about these sales.
But the biggest thing you, the writers, need to do is write THE RIGHT SCREENPLAYS and then do a GREAT JOB WRITING THEM. These scripts don’t only have to be as good as the mega-franchise movies. They have to be better. Cause they don’t have any IP behind them. So if you’re a studio taking a chance on one of these scripts, the script has to be really impressive.
Ever since the spec sale business died, the primary measuring stick for a screenplay has been The Black List. And The Black List has become the opposite of the spec sale business. It’s become the Nicholl Fellowship List. It promotes intellectual screenplays over commercial screenplays. It still serves the purpose of getting writers recognized. But it doesn’t help the spec sale trade at all.
To revive the spec sale trade, you have to start with the kind of movie template that actually makes money. Former spec script mainstays like Comedy (The Hangover), Dark Thrillers (Silence of the Lambs), Romantic Thrillers (Fatal Attraction), and Romantic Comedies (Notting Hill), have been relegated to streaming services. Which means you can still make money off of them. But it’s not going to be for a big paycheck.
The movies that spec writers can still write these days and realistically sell for big money include the Action movie (Beekeeper), Action Comedy (Spy), Horror (Us), Buddy Cop movies (Central Intelligence), Guy/Girl with a Gun movies (John Wick), Fun Slasher movies (Scream), Heist (Ocean’s 11), Biopics (Elvis), Based on a true story World War 2 movies (Saving Private Ryan), Contained Thrillers (The Mist), Fun Undercover Cop movies (the original Fast and Furious, Point Blank), Ensemble Big Concept (Knives Out) and to some extent, the general high concept script, as long as it’s upbeat and therefore would sell a lot of tickets (think Jurassic Park or Free Guy).
This is not to rule out updating old templates, like the Submarine movie (Crimson Tide), the Action-Crime movie (Heat), Hitchcockian Suspense movies (Gone Girl), The John Carpenter movie (Escape from New York), The John Hughes movie (elevated teen fare), the big-budget Western (The Magnificent Seven), the pirate movie (Pirates of the Caribbean). Or just that bonkers wowza idea that’s never been done before.
To be honest, you could still write a rom-com that sells for a million bucks *if* you find a clever way to reinvent the genre. Actually, that’s the best way to sell any script for a million dollars. Reinvent the genre. Reinvent any of the movie-types I listed above and you can be a millionaire. I’m not kidding.
Once you’ve got your concept, the hard work begins. This is where the article comes full circle because “Seven,” in many ways, is the perfect spec script. It’s not only a clever idea. But it’s one of the few spec scripts I’ve read where it’s clear that the writer gave 100% on every page. There’s zero laziness in “Seven.”
The core reason that the spec boom died out was that the movies that resulted from those scripts didn’t consistently deliver. And that’s cause the scripts were weak. Most of the value in those scripts was concentrated in the first act. Which meant audiences would go to the theater, enjoy the heck out of the first 30 minutes of the movie, then became increasingly bored with every passing ten minutes. They’d leave the theater with zero energy and wouldn’t recommend the movie to anyone.
So if you want to revive big spec sales, it’s up to you guys. It’s up to you as to how much you want to work on your screenplays. This is why I tell writers, field-test your concept so you know it’s good. Cause if you do that, you know you can spend a year making your script perfect (e-mail me at carsonreeves1@gmail.com – $25 for a logline eval). Cause you already know people are going to want to read it whenever you finish.
Then, get feedback after each draft (figure at least six drafts)! Figure out which characters aren’t working. Make them better. Figure out where readers are losing interest then upgrade the plot in those areas. Even out your tone with each successive rewrite. Stay open to new exciting directions you can take your screenplay, even if it means extending your original deadline. Your goal should be to write something where you can honestly say, “I can’t make this any better.”
The thing you will never be able to control is writing an objectively great screenplay. You just never know how people are going to react to a story. But what you can control is writing the best possible screenplay YOU’RE CAPABLE OF WRITING IN THIS MOMENT IN TIME. I felt that way with “Seven.” I don’t feel that with many other scripts I read.
Let’s change that.
Then let’s sell some damn million dollar scripts.
