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EntertainmentIndustry.name
A film begins — or a screenplay is “purchased” — usually one of four ways:
The rarest (but most publicized) is when an agent circulates a great spec script (a screenplay written on the speculation of a sale) by an unknown writer.
A “spec screenplay” is a script written “on speculation,” meaning without a buyer. Usually, this is used as a writing sample to get writing assignments, but every so often, a spec sale is as highly publicized as a lottery win.
This is still perhaps the best way for an aspiring screenwriter to break into Hollywood — or even for a veteran writer to rekindle his or her career.
If a speculative screenplay is bought from an unknown writer, that screenwriter quickly becomes a much-lauded overnight success (even if it took a decade) or the “flavor of the month.” The screenwriter and his or her agent do their best to parlay that “heat” to launch the screenwriter’s career.
Established writers sell spec scripts as well, but it is usually less newsworthy. It’s also less common as WGA Writers tend to avoid writing on speculation, focusing instead on securing open writing assignments or pitching first to assess the market demand for a concept, only actually writing the entire script when they have a commitment from a paying buyer.
Sometimes, however, an established screenwriter will write a screenplay speculatively because he or she is so in love with the idea, or it’s better executed on the page than pitched, or they prefer to develop it and stay attached (maybe to direct or produce) rather than lose all their rights before they’ve even begun.
If you’re lucky (or talented) enough to have representation, your agent (or maybe manager or possibly even your entertainment attorney) will “go out” with your spec script.
That means he or she will “shop” it to prospective buyers who may range from independent production companies to studio executives. Depending on the clout of the submitting party, spec scripts are usually read by gatekeepers such as readers or assistants or low-level executives (Story Editors, etc.) but ideally by Vice-Presidents or Presidents of Acquisition or Development.
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