What Are Overall Deals?

I think the dream of every creative I know is to get paid for their work. But can you imagine just getting a massive check for work you may do in the future? Just because of the value of your ideas or your name?

That would be incredible.

Perhaps you've noticed the big headlines recently, "Benioff and Weiss sign an overall deal at Netflix," or you remember when Ryan Murphy and Shonda Rhimes signed similar deals at the streamer. These deals cover hundreds of millions of dollars and lots of your favorite – or soon-to-be favorite – TV shows and movies.

But what do they actually mean?

Today, we're going to define overall deals, first-look deals, and talk about how these deals happen in Hollywood.

Let's dive in.

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What Is An Overall Deal?

An overall deal is an agreement between a creator and a studio where the studio financially compensates the creator and/or their company to then own the ideas they create while under this deal. Anything created while this deal is signed stays within the studio that owns it. It cannot be shopped elsewhere, even if the studio passes on that project.

These deals usually cover television shows, and not so much feature films.

How It Works: The "All-In" Model

When a studio signs a creator to an overall deal, they aren't just buying a script; they are buying the creator's time and brainpower.

So let's take a look at how they work for creatives.

1. The Guarantee: The studio pays a massive annual fee (the "guarantee"). This covers the creator's personal salary and the costs of running their production company (the "shingle").
2. Exclusive Services: Every idea, pitch, or script the creator develops must go to that studio. Under most overall deals, you cannot even consult on a friend's project at a different network without express permission.
3. The "Work for Hire" Catch: Because the studio is paying for your exclusive time, they generally own the underlying copyright to everything you dream up during the term of the deal.

What Is A First-Look Deal?

We have a whole article on first-look deals.

A first-look deal is an agreement between a creator and a film studio in which the studio fronts the production costs of the creator to in turn have a first look, or first right of refusal, for the scripts, books, and other properties they want to develop for film and television.

If the studio passes on the projects, the creator is able to shop them to other places as well.

This usually applies to features and television deals equally.

Unlike a first-look deal, where you can shop a project elsewhere if your home studio passes, an overall deal usually means everything you create during those years belongs to that studio.

If they don't want to make your pilot, it usually stays on the shelf. You are, for all intents and purposes, off the market.

Why Do Creatives Love Overall Deals?

Money. Prestige. Power.

When a creator gets these deals, even small ones, it shows that a studio trusts them and their taste. It gives them clout, creative freedom, and they are usually incredibly lucrative.

The stuff you create within these gets a serious look from studio executives. If you signed this, it means you're already on the favorite list. Now, you have the shot to create and keep creating, becoming a mogul and slowly becoming more and more powerful.

As a writer, there are so few times you actually get your way. These deals are a chance to celebrate those times and to make money.

Variety covered these deals and this quote stood out to me:

“As a writer for so many years, it’s part of the nature of the thing that you’re essentially freelancing,” saysDave Andron. “Except for rare occasions, you don’t know if your show is coming back. I think that, after a while, that can get to be tough on people, especially people who have families. It’s sort of obvious, but the security is ideal, knowing that you’re going to be doing work with them on that level is rewarding, and it’s not just the financial.”

There are a few reasons creatives would get into bed with a stio to make this happen. Here's a quick breakdown: __

• Total Funding: The studio pays for your development executives, your office on the lot, and your travel. You no longer have to worry about the "business" of being a producer; you just create.
• Direct Access: You aren't "pitching" to the studio, you are part of the family. Your projects often move to the front of the line for casting and production resources.
• Generous Back-end: While the upfront guarantee is huge, these deals often include lucrative "backend" points or "bonuses" if a show hits a certain number of seasons or views.

Why Do Studios Do Overall Deals?

It is hard to internally develop properties, it is also super expensive. That means the more you can farm out this stuff, the more you can concentrate on choosing from a pool of the best ideas. If you're picking from the best, it theoretically increases your odds at getting a hit, and a hit helps you make money.

Signing a bunch of proven voices to overalls or first-looks should help you get the best ideas first. Does it always work out? No.

But for now, it's how Hollywood works. And much more manageable than relying on agents and managers to send you competitive projects which you might get outbid on and never get.

In the same Variety article referenced enough, Sam Esmail had this to say:

“The economics of the moment are allowing showrunners to be high value,” the 'Mr. Robot' and 'Homecoming' executive producer says. "The overall deals are kind of evidence of that."

It boils down to these things:

• Guarantees Volume: They ensure a steady stream of content from a proven winner.
• Denies the Competition: They keep that creator's next "big thing" away from Netflix, HBO, or Amazon.
• Built-in Showrunning: Often, the studio will use an overall-deal producer to "fix" or run other shows the studio owns, even if the creator didn't pitch them.

What's next? How to ace your general meeting!

Work your meeting skills into perfection so you can ink your overall. Scoring a general meeting is the way to get your name on assignment lists and to stick out in producers' minds. How can you do it?

Click the link to learn more.