The Return of the Spec Script—Is There Hope for Original Screenplays in Hollywood?

The podcast episode discusses the resurgence of spec scripts in Hollywood, with literary manager Jeff Schevitz explaining the shift from package deals to original scripts. Schevitz attributes this change to a decline in the superhero genre's dominance, allowing studios to explore original content. He notes that studios are increasingly interested in spec scripts as they offer quicker development opportunities compared to lengthy package deals. The conversation highlights the potential for original films to succeed, with examples of recent successful non-IP movies cited. The episode also touches on the role of managers in developing and selling these scripts.

• Spec scripts, or speculative scripts, are seeing a resurgence in Hollywood, with a significant increase in sales over the past two years.
• The market shift is attributed to the success of original movies and the flexibility spec scripts offer in development.
• Spec scripts allow studios to develop projects quickly, unlike package deals which can be time-consuming and come with pre-attached talent that might not align with a studio's vision.

"I tie it back to a couple of things happened in 2024 that we definitely clocked as, you know, big spec sales for us internally."

• Spec sales have been increasing since 2024, prompting agencies to encourage writers to focus on original content.

"Specs people are remembering and being reminded of. They're a pretty good way to put things into development."

• Spec scripts are valued for their ability to expedite the development process, providing a fresh alternative to long-term projects.

"When a spec walks in the door and it actually feels like a movie, that's very comforting."

• Executives find comfort in spec scripts as they present actionable projects ready for immediate development.

• The industry has seen a shift from package deals towards spec scripts, although packages remain significant for high-profile projects.
• Package deals involve pre-attached talent and often result in high-profile sales, but they limit studios' creative control.

"These things take a long time to package. And on the flip side, anyone at our company, over 24 hours, and I'm doing it right now, we can get it out to 50 producers all at the same time."

• Spec scripts can be distributed to multiple producers quickly, enabling rapid market testing and studio submissions.

"I have picked up frustration from some of the studios where, yeah, they like the packages. But there's also limitations."

• Studios enjoy packages but are sometimes constrained by them, preferring to have more control over casting and development.

"People can be much more comfortable having more ownership on the spec."

• Spec scripts offer studios greater ownership and flexibility in the creative process, unlike pre-packaged deals.

• Studios are increasingly interested in original content, moving away from reliance on established intellectual properties (IP).
• The shift is driven by the desire for fresh, innovative stories and the ability to tailor projects to studio preferences.

"Is it worth packaging that material or not? And can you get it to the level where it's going to create a feeding frenzy in the marketplace?"

• The decision to package or not depends on the potential market impact and the project’s ability to attract attention.

"Some of them come in the door and there's a history with a particular part of the package."

• Pre-existing relationships and history with talent can influence a studio's decision to pursue or pass on a package deal.

"Studios frustrated with the results of some of those packages?"

• While not necessarily frustrated, studios are exploring alternatives to packages to regain creative control and flexibility.

• The spec market has experienced a decline due to the overwhelming success and focus on superhero films, which set a high benchmark for studios.
• The slowdown in interest in superhero films is opening up opportunities for original material.
• There is a rising curiosity from audiences for original content, contributing to a shift in studio strategies.

"I think that what you're seeing with the slowdown in the interest in the superhero market, what you're feeling is that the audiences are generally interested in different types of material."

• This quote highlights the shifting audience interest away from superhero films, creating opportunities for original content.

"So if we're not going to make superhero movies and the audiences seem more curious about original material, why shouldn't we be buying more specs?"

• The speaker suggests that the decline of superhero films is leading studios to consider more original scripts to meet audience demand.

• The development of IP (Intellectual Property) is complex and involves multiple voices and attachments, making it a lengthy process.
• There is an efficiency in taking a spec script to market, though it can be risky if no one buys it.
• Despite the dominance of IP, original material is gaining traction and market curiosity.

"IP is amazing. It takes a long time to develop."

• This quote underscores the complexity and time-consuming nature of developing IP-based films.

"There is an efficiency to a spec going out to the market, which can be amazing. It can also be heartbreaking if no one wants to buy it."

• The quote reflects the potential advantages and risks associated with spec scripts compared to IP development.

• Major studios and streamers are increasingly interested in original material, as evidenced by the number of scripts being bought.
• Films not based on IP, like "Materialists," have achieved significant box office success, indicating a shift in market dynamics.
• Studios like Paramount are looking to ramp up movie production, presenting new opportunities for original film projects.

"I think it is. I think that there's a curiosity in the marketplace and, and by the way, it's being borne out in how many scripts are being bought."

• The quote indicates a growing market interest in original material, as seen in the increase in script purchases.

"I'd point to a movie like Materialists... not based on any IP and got to $100 million."

• This quote highlights the financial success of original films, suggesting a viable market for non-IP-based projects.

• There is a resurgence in the erotic thriller genre and a push towards comedy, reflecting current market trends.
• Budget pressures and audience desires for entertainment are influencing the types of films being produced.
• Studios are responding to these trends by exploring diverse genres beyond traditional blockbuster formats.

"It feels like there was a huge push into the erotic thriller market."

• The quote notes the market's renewed interest in the erotic thriller genre, reminiscent of the 80s and 90s.

"It feels like people want to laugh in the world. At least that's what we're reading and the studios are responding."

• This quote suggests a market demand for comedies, driven by audience desires for lighthearted content.

• High-concept scripts can still achieve significant sales if marketed correctly and simultaneously to potential buyers.
• Technologies like Embershot are used to control script distribution, though sharing scripts widely can lead to better market opportunities.
• The strategy of sharing scripts can help generate interest and lead to bidding wars among studios.

"I think that you can. I think it's about approaching the marketplace simultaneously."

• The quote emphasizes the importance of strategic timing and presentation in achieving high-value script sales.

"Embershot is something that if you really want to control the process of who and how something is being read and quite frankly keep it confidential."

• This quote explains the use of Embershot to manage script distribution securely, though broader sharing can enhance market potential.

• Strong producers are crucial for submitting projects to multiple studios and creating competitive bidding situations.
• Multi-million dollar sales can occur when producers leverage their relationships to generate interest from multiple studios.

"I think that your best case scenario is having strong producers submitting to every studio where they have a strong relationship and having the incentive on their side to get their studio to buy on their behalf."

• Producers play a key role in creating competitive environments, which can lead to significant financial gains for projects.

• The difference between streamers and traditional studios is diminishing; both are open to spec scripts if the timing and content align with their strategies.
• Spec screenplays should be versatile to appeal to various studios, avoiding a narrow focus that limits interest.

"I don't think there's much of a difference between the streamers these days and the normal stream. No, there isn't."

• The convergence of streamers and studios in their approach to spec scripts signifies a shift towards a more unified market strategy.

"What we encourage our clients to do is try to think of ideas that can play everywhere."

• Encouraging versatile ideas increases the chances of a project being picked up by multiple types of studios, enhancing its marketability.

• Literary managers are deeply involved in the script development process, often working through multiple drafts with clients.
• Agencies have become more open to handling spec scripts, reflecting a shift in market dynamics.

"We do draft after draft after draft. And it's not to say that agents don't do that. It is one of our focuses as a company."

• Literary managers provide extensive support in refining scripts, highlighting their integral role in the development process.

"The other thing, by the way, is that agencies are also open for the spec business. And it's something that has definitely changed in the last year."

• Agencies' increased openness to specs indicates a changing landscape where spec scripts are gaining more traction.

• The choice between spec and package routes depends on the project's requirements and potential for broad studio appeal.
• Spec scripts offer flexibility and can be tailored to fit various studio preferences, while packaged projects may face risks like development hell.

"It's project dependent. If it's going to require one of the top 15 directors on the planet, guess what? We're packaging the material."

• The decision between spec and package depends on the project's scope and the necessity for high-profile attachments.

"I worry about development hell every day."

• Development hell is a significant concern for packaged projects, emphasizing the need for strategic planning and deal structuring.

• There is a renewed interest in original movies, driven by successful projects and strategic development involving stars and filmmakers.
• Studios are recognizing the potential success of original ideas, which may not rely on existing intellectual property (IP).

"Are you prepared to declare that original movies are back?"

• The resurgence of original movies is seen as studios identify viable paths to success for unique projects.

"Look at this year and look at Warner Brothers. They've got sinners, they've got weapons, they've got one battle after another. They're all lofty projects with gigantic elements involved, but none of them are based on ip."

• Warner Brothers' success with original, non-IP-based projects exemplifies the industry's shift towards embracing original content.

• There is a noticeable shift in audience interest away from the superhero genre.
• Marvel's decline is evident, though not necessarily permanent, indicating a changing landscape in movie preferences.
• Audiences are showing curiosity towards other genres beyond familiar superhero narratives.

"Craig was early on this, by the way. He said Marvel's over two years ago and I was skeptical. And I do think that there is a real audience shift going on away from the superhero genre."

• This quote highlights the early prediction of Marvel's decline and the current audience shift from superhero films.

"The numbers do bear out that there has been a decline, and maybe we'll come back. For the moment, though, it just feels like audiences, at least to me, there is curiosity about other parts of the movie business, other genres."

• This statement acknowledges the statistical decline in superhero films and suggests a growing interest in diverse movie genres.

• Original scripts are increasingly being sold to streamers rather than studios focused on theatrical releases.
• Studios are investing in original content for theatrical release, emphasizing the importance of theatrical elements.
• There is a belief that originality is making a comeback in the film industry.

"We can't rely on Netflix and Amazon and Apple to just be hoovering up projects that aren't gigantic pieces of ip."

• This quote underscores the challenge of selling original content to major streaming platforms.

"Paramount again deployed multiple millions of dollars in the last couple of months purely on comedies. They don't have anywhere to go with those projects except theatrical."

• Paramount's investment in comedies for theatrical release illustrates the commitment to original content in theaters.

"It is at least my belief that originality is making a comeback."

• This statement expresses optimism about the resurgence of original content in the film industry.

• Taylor Swift's new project is expected to perform well at the box office, reflecting her strong fan base.
• The project includes music videos, behind-the-scenes footage, and special messages, creating a unique experience for fans.
• There is a debate over the potential box office earnings, with comparisons to her previous successful releases.

"This movie is expected to gross between 35 and 38 million this weekend according to the tracking services I have seen."

• This quote provides an estimate of the expected box office performance for Taylor Swift's new project.

"For the majority of this film, you're just gonna be watching lyrics on a screen and singing along and dancing."

• This statement describes the interactive and unique nature of the Taylor Swift film experience.

"This is a real flex by her to see just how far she can go, getting people to pay money to see anything she does."

• This quote highlights Taylor Swift's influence and the experimental nature of her project in testing fan loyalty.

• "Smashing Machine," starring Dwayne Johnson, faces competitive challenges at the box office.
• The film's marketing may not align with audience expectations, potentially affecting its performance.
• Predictions vary on whether the film will meet or exceed box office tracking estimates.

"The tracking on Smashing Machine has come down over the last couple weeks. It's at about 15 million."

• This quote indicates the declining box office expectations for "Smashing Machine."

"It's not WWE wrestling. This is not what you might expect from him."

• This statement suggests that "Smashing Machine" may not align with typical expectations for a Dwayne Johnson film.

"I think I'll take the under on Smashing Machine."

• This quote reflects the speaker's skepticism about the film's ability to meet box office expectations.