06 August, 2007

In Hollywood, a Sacred Cow Lands on the Contract Table

New York Times:

"Studios want to junk the residual payment structure, which dates to the early 1950s, when the fledgling TV business borrowed it from radio. Under their proposal, unveiled with unexpected zest in early July by Barry M. Meyer, chief executive of Warner Brothers Entertainment, so-called creative employees would get residual checks only after the studios have recouped their basic costs."


Piers said...

Opening Statement: "Well we think that we should have all of your children in return for what we've done for you. That's a fair price. Let's put that on the table"

Negotiated Settlement: "OK, we'll just take the firstborn."

Writer: "Hell, that seems fair. After all, they were after all our children to start with."

Anonymous said...

From what I've heard of "hollywood" accounting....we're all DOOMED!


PS...I used to live in LA...


Robin Kelly said...

I've done an update of this here