Conde Nast Contracts Cut Author's Share in Film Deals (by Christine Haughney, New York Times)

Conde Nast Contracts Cut Author's Share in Film Deals (by Christine Haughney, New York Times)

"Condé Nast, whose magazines are battling a punishing business environment, wants to capture more of the film and television profits, which previously went to writers who owned the rights to these works. The new contracts have angered writers and their agents who argue that it’s another cut at their already rapidly shrinking compensation..."

"...According to copies of the various contracts provided and described to The New York Times, those exclusive rights ranged from 30 days to one year. The contracts also show that if Condé Nast decides to option the article, writers receive $2,500 to $5,000 for a 12-month option. If an article is developed into a major feature film, writers receive no more than 1 percent or $150,000 toward the purchase price.

"Television programs and made-for-television movies are capped at even lower amounts, especially for less experienced writers. These arrangements are agreed to before an article has even been published."

Read more here.

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