Hi - I need some advice from you pros out there. Suppose you\'ve talked to a producer of an indie film, and settled on producing a film score (licensed) for 5k. Then the producer calls you back and asks what you would charge for a complete buyout. What\'s the norm here? Should it be a percentage of the original package? Should it be more?
Thanks a whole bunch in advance. [img]/ubbthreads/images/graemlins/cool.gif[/img]
I wouldn\'t accept a buyout. I think he\'s getting an incredible bargain at 5k. If it were me, I\'d insist on retaining all of the publishing as well. If nothing else, NEVER SELL YOUR WRITERS OWNERSHIP! One of the things that keeps us composers going thru tough times is royalties. They go on and on. My personal, experienced opinion only, of course.
Usually when directors or producers (particularly of small indie films) ask for buy-outs, it\'s generally out of ignorance and they simply don\'t know what they are talking about when it comes to entertainment law.
Please, explain to them that buying out the music from you results in potential revenue loss in the long term for you, but it does not in any way save them any money. Make sure that they understand that they don\'t pay royalties, only the broadcasters do....this is a highly misunderstood point.
I usually issue a very comprehensive master license that give them the rights to the music for pretty much anything that they would want to use it for (except for soundtrack CD\'s, which is a slightly different story).
I highly urge you to stick to your guns on this issue, if you give up on your basic rights as a creative, the message that you are sending is that your work is simply not worth that much to you.
I would return them an outrageous quote for a complete buy out bordering on the bizarre. Like a few hundred thousands....see what they say.