Should i get a bonus upfront ?

[f22raptor]

Hi

I have managed to make a deal with one of the world’s biggest broadcasters, I mean multibillion dollar broadcasting corporation that is so popular. The deal is simple I (My company) produces a South African version of a docu series show using my own money and they will buy the finished product. We are talking of 15 -20 one hour episodes (40 – 45 minutes).

By my estimates it’s going to cost R100 000.00 per episode which totals R1.5 – 2 million. There is a lot but easy research that needs to be done so a couple of people will need to be employed. There is also principal photography costs (director, equipment hire, cinematographer, actors, sets etc) and post production (narrator, editing, etc).

There is a standard (quality) to keep or even go to a higher level so a few more hundred thousand rands might be needed. Besides a letter from the broadcaster stating the deal I also have rights to a couple of episodes I got from two writer/journalists. I can’t afford to deliver the first season as my company does not have money even for half an episode. There are several producers who have shown interest in doing a joint venture.

My question is; shouldn’t my company get money upfront like sign on fee or a bonus before we start working on the project from whomever I am going to choose to work with because I have already put in a lot of work and it’s a really lucrative deal that can last for years?

 

[Dairyfarmer]

You should have a written contract with the broadcaster laying out the obligations and payment schedule/s. You then need to take this, along with your business plan, to you bank manager and get a load.

 

[Visser]

You should not be asking this question here. In such a deal you should have had attorneys dealing with this.

Good luck with your ventures.

 

[IzZzy]

You should not be asking this question here. In such a deal you should have had attorneys dealing with this.

Good luck with your ventures.

Correct - any attorney with media expertise could assist. You need to square away your risks (recouping funding). This isn't new to the content purchaser but you need to have everything reduced to writing.

 

[f22raptor]

You should not be asking this question here. In such a deal you should have had attorneys dealing with this.

Good luck with your ventures.

Lawyer wants R2 000.00 per hour

 

[HeftyCrab]

Lawyer wants R2 000.00 per hour

Cheaper than making a R2 million mistake.

 

[ToxicBunny]

Lawyer wants R2 000.00 per hour

Worth every cent when you sort out the finances and the contract....

 

[namzsteve]

I understand you don't want to spend a lot without them giving you something to work with, and as you mention 15 - 20 1 hour episodes is not a joke when it comes to film. The problem is with most of these broadcasters is that they take forever to pay out. And if you send them a contract, they try to contest and all.

I'm not sure how you've structured the deal but I say shoot a pilot, hand it to them and ask them to give you budget and shoot from there, that way at least you'll be on the safe knowing you've spent little, done your job and it is up to them to decide whether they want the show or not. Just make sure you keep all rights before sending it over.

 

[ArtyLoop]

Worth every cent when you sort out the finances and the contract....

Standard rate for these kinds of services AFAIK

 

[Splinter]

Send me the details. I have a broad knowledge of finances and law. Nothing specific, but could be able to send you in the right direction.

 

[Thor]

Dstv channel?

Good luck getting your money.

 

[modern10]

Dstv channel?

Good luck getting your money.

Why would he need luck

 

[Swa]

Yeah get a lawyer. Really these cross border transactions can be complicated and if they decide not to pay you have to do international litigation as well. If you can't even do a pilot you won't be able to pay for that as well. Make sure you retain the rights though until they pay.