Martay
Veteran
Okay, while I'm thinking of it, here's a little tip on Foreign.
Assuming you've split your rights into Domestic and Foreign and they are separate:
Remember that some deliverables may vary. We had massive deliverables ready when we needed to deliver to Lionsgate and figured that we were set on them for any foreign deals. Well, they weren't major but there were slight differences in materials needed.
Also, of note, we had our sound mix re-done for the domestic release and needed to obtain it and re-synch it for our foreign master. So, this was a little time consuming coordinating with the west-coast post house and our local post to insure we got the right mix and could re-synch it for our foreign master. It did work fine and wasn't really a major issue, just time consuming working out all the details.
We needed more materials on our master as well because the foreign sales rep wanted to use elements from our "original" trailer and requested we put it on the master with separated tracks just like the movie itself (so, textless titles etc. for the trailer just like the movie).
The key to remember about this particular process is to have even more patience. I mean, it took us a long time to make our Domestic deal. Now, imagine that process starting all over again for more than 30 territories. That is a major reason we decided to go with a Rep. as we were thinking about trying to handle it directly. However, we were already putting our next project behind schedule as it was so we were happy to partner with a Rep.
So, I expect some news will surface early in the new year and I'll definitely report on how specific deals are handled.
Oh, one more tidbit, be ready to handle an additional agreement for foreign. There's the Sales Rep Agreement that is very similar to the acquisition agreement we made for domestic (it covers Reimbursement splits, term, etc.) but we also needed to enter into a Third Party Agreement as well between ourselves (producers), Sales Rep (distributor), and a third party payment administrator who will handle the transactional piece when deals are made and $ comes in from foreign territories. They will pay out to us and the distributor based on our agreement and take a small fee for their services, which include changing currency, etc.
So, be ready to study that as well (of course, lawyer up if you can).
Anyway, glad that y'all are still watching.
Be sure to keep up with blackhats too... blogpost coming soon.
-Martin
Assuming you've split your rights into Domestic and Foreign and they are separate:
Remember that some deliverables may vary. We had massive deliverables ready when we needed to deliver to Lionsgate and figured that we were set on them for any foreign deals. Well, they weren't major but there were slight differences in materials needed.
Also, of note, we had our sound mix re-done for the domestic release and needed to obtain it and re-synch it for our foreign master. So, this was a little time consuming coordinating with the west-coast post house and our local post to insure we got the right mix and could re-synch it for our foreign master. It did work fine and wasn't really a major issue, just time consuming working out all the details.
We needed more materials on our master as well because the foreign sales rep wanted to use elements from our "original" trailer and requested we put it on the master with separated tracks just like the movie itself (so, textless titles etc. for the trailer just like the movie).
The key to remember about this particular process is to have even more patience. I mean, it took us a long time to make our Domestic deal. Now, imagine that process starting all over again for more than 30 territories. That is a major reason we decided to go with a Rep. as we were thinking about trying to handle it directly. However, we were already putting our next project behind schedule as it was so we were happy to partner with a Rep.
So, I expect some news will surface early in the new year and I'll definitely report on how specific deals are handled.
Oh, one more tidbit, be ready to handle an additional agreement for foreign. There's the Sales Rep Agreement that is very similar to the acquisition agreement we made for domestic (it covers Reimbursement splits, term, etc.) but we also needed to enter into a Third Party Agreement as well between ourselves (producers), Sales Rep (distributor), and a third party payment administrator who will handle the transactional piece when deals are made and $ comes in from foreign territories. They will pay out to us and the distributor based on our agreement and take a small fee for their services, which include changing currency, etc.
So, be ready to study that as well (of course, lawyer up if you can).
Anyway, glad that y'all are still watching.
Be sure to keep up with blackhats too... blogpost coming soon.
-Martin
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