Wizard World and Sony Pictures announced the other day they are partnering up to locate new properties for film development at Wizard World conventions. According to the reports, Wizard might be getting a cut of potential deals. Most people in the industry were taken by surprise, and some even mocked the deal—can’t Sony just buy a ticket to the conventions and talk to people themselves?
Here are my initial thoughts on the deal:
1. Who’s doing the work?
Is Sony sending someone to all of these conventions? My gut tells me no. If they’re smart, Sony would’ve structured the deal so as to make Wizard do all the work. Let Wizard host the pitches, sort through the materials, and present to Sony what they think is best. In reality, this puts Wizard in a scout role, with Wizard only getting a cut if Sony chooses to sign a deal with any of the creators Wizard presents to them.
For some creators, this could be a good thing. San Diego Comic-Con and the other conventions in and around Los Angeles. aren’t getting smaller. It’s easy for your property to get overlooked. At the smaller Wizard World shows, newer creators might be able to be seen and heard.
Somewhat related to the size of the conventions, for some aspiring creators, it’s a lot easier to make it to a Wizard World show. There are a lot of them in cities both large and small across the country, and many are within easy driving for many people. As mentioned in the press release, it might be easier to find some hidden gems.
If Sony has structured the deal as I envisioned it above, then there’s little risk to them. Make Wizard do the work, and pay them a finder’s fee if they find something good. Also, it’s probably cheaper for many aspiring creators to go to a Wizard World show than to travel out to Comic-Con, WonderCon, or New York Comic Con.
There are obvious benefits to this deal for Wizard and Sony, but creators need to pay attention. Particularly, pay attention to what you’re signing. Will Wizard be incorporating anything relating to this in the Artist Alley or Exhibitor forms? I doubt it; such agreements should be treated separately. But, it’s best to be overly cautious. If you go to a pitch meeting and are offered a deal, be wary of signing anything without reviewing it and/or having an attorney review it. You shouldn’t feel pressured or put on the spot to sign a deal. As I’ve said elsewhere, pay attention to the details – Who gets money? Who gets rights to what, and for how long? Are there timetables to make things happen? Do you get your rights back if nothing happens? These are just a few of the questions to keep in mind.
Overall, the partnership between Wizard World and Sony is surprising, and I will be following the details of it closely. Hopefully, it might lead to some breaks for lucky and talented up-and-coming creators.