Overall deal definition
/What is an Overall Deal?
An overall deal is an arrangement under which a film studio pays compensation to a producer in exchange for the use of that person's creative services. Under this arrangement, anything developed by the producer stays within the studio; it cannot be shopped elsewhere if the studio passes on further production or distribution of film concepts. Overall deals are usually only made in relation to television projects, not feature films. In essence, a producer is being paid a salary to lock in his or her creative abilities for a fixed period of time.
The Difference Between an Overall Deal and a First Look Deal
A variation on the overall deal concept is a first look deal. Under this arrangement, the producer usually keeps the copyright to any material created, rather than the studio. The studio obtains a first right of refusal to any creative content proposed by the producer, in exchange for paying the producer a fee. If the studio turns it down, then the producer can shop it elsewhere.
Accounting for an Overall Deal
A reasonable proportion of the costs of these overall deals should be associated with specific film projects, based on the extent to which the costs are tied to the acquisition, adaptation, or development of projects. When any of these costs cannot be associated with specific projects, they are to be charged to expense as incurred.