Book and Film Contract Evaluation Checklist: Expert Tips from King Findmore

So you've written something amazing, and now the publishing world is taking notice. Maybe you've received your first book offer, or perhaps a film producer is interested in adapting your work. Congratulations! Now comes the part they don't teach in writing workshops: deciphering contracts that might as well be written in ancient Sumerian.

After helping countless writers navigate these waters, I've compiled the essential elements you should understand before signing on any dotted line. Let's break down what really matters in book and film deals.

Book Publishing: Beyond the Advance

While the advance often gets the spotlight, several other contract elements can significantly impact your career:

Advance Payment Schedule

Most advances are paid in installments, typically:

• Signing the contract (⅓)

• Delivering and accepting the final manuscript (⅓)

• Publication (⅓)

Key Consideration: Larger advances sound exciting but may mean less royalty income if your book doesn't "earn out." Sometimes a smaller advance with better royalty terms benefits you long-term.

Royalty Rates

Standard royalty structures for traditional publishing:

• Hardcover: 10-15% of list price

• Trade paperback: 6-8% of list price

• Mass market paperback: 4-6% of list price

• E-book: 25% of net receipts (though you should push for higher)

• Audiobook: 10-15% of net receipts

Red Flag: Royalties calculated on "net receipts" rather than list price for print books. This significantly reduces your earnings.

Rights Retention

Publishers will want as many rights as possible, but consider carefully:

• Translation/international rights (potentially valuable to retain)

• Audio rights (growing market worth considering separately)

• Film/TV rights (NEVER bundle these with publishing rights)

• Merchandising rights (can be surprisingly valuable for certain books)

Pro Tip: If your publisher isn't strong in certain international markets, try to retain those rights and sell them separately.

Option Clauses

Most contracts include a clause giving the publisher first right of refusal on your next book.

Key Negotiations:

• Limit to "next work of the same type" rather than any book you write

• Ensure reasonable response timelines (30 days is standard)

• Include provisions for matching competitive offers

• Set a minimum advance for the option book

Film and TV Options: The Long Game

Film deals usually start with an option, not a full purchase. Here's what to understand:

Option Payments

An option gives producers exclusive rights to develop your work for a limited time.

• Initial option periods: Typically 12-18 months

• Option extensions: Usually 1-2 possible renewals

• Payment structure: Initial payment plus extension fees

Reality Check: Option payments are typically 2-5% of the purchase price, ranging from a few thousand dollars for new writers to $50,000+ for established authors.

Purchase Price

This is what you'll be paid if they actually make the film/show.

• Feature films: Typically 2-3% of the production budget with minimums and caps

• TV series: Usually includes per-episode fees if it goes to series

• Bonuses: May include payments triggered by production milestones

Key Terms: Make sure the purchase agreement specifies what happens if the project moves forward. This should be clearly defined in the initial option agreement.

Creative Involvement

Consider what role you want in the adaptation:

• Consultation rights: Opportunities to review scripts or provide input

• Executive producer credit: Can range from ceremonial to meaningful

• Adaptation rights: Whether you'll have the opportunity to write the screenplay

Pro Tip: Unless you have screenwriting experience, pushing to write the adaptation might not be in your best interest. Consider consultation rights instead.

Rights Reversion

What happens if they never make the movie?

• Clear timelines for rights to revert to you

• Turnaround provisions if one studio abandons the project

• Protection from the project being perpetually "in development"

Red Flag: Beware of options without clear reversion terms. Your work could be stuck in "development hell" indefinitely.

Deal Points Both Industries Share

Whether for books or film, always scrutinize:

Accounting Provisions

• Audit rights (your ability to verify reported sales/earnings)

• Payment frequency (quarterly is standard for publishing)

• Clear definitions of deductible expenses

Termination Clauses

• Out-of-print definitions for books

• Project abandonment terms for film

• Your right to terminate if promises aren't fulfilled

Credit and Billing

• Author credit placement and size in books

• "Based on" credit requirements for adaptations

• Promotional obligations and support

The Representation Question

Should you navigate these deals yourself?

• Literary agents: Typically take 15% but often increase your advance by more than that

• Entertainment attorneys: Essential for film/TV deals, charging hourly or percentage fees

• Film/TV agents: Separate from literary agents and crucial for adaptation deals

Bottom Line: Professional representation almost always pays for itself, especially for newer writers.

The King Findmore Advantage

At King Findmore, we specialize in helping writers understand the complex world of publishing and film deals. Our experts can analyze offers, identify problematic clauses, and help you secure the best possible terms for your creative work.

Final Thoughts

Remember that everything is negotiable, especially with publishing contracts. Film options are more standardized, but even there, important improvements can be made. The key is understanding what matters most for your specific career goals.

Your creative work took years to perfect—give the business side the attention it deserves too.