TV co-production agreement: What you need to know
In today`s global entertainment industry, content creators are frequently joining forces to co-produce television shows that can be broadcasted across multiple markets. A co-production agreement is a mutually beneficial contract between two or more production companies that outlines the terms for creating and distributing a television series.
A TV co-production agreement covers several essential aspects of the production process, including funding, creative control, and revenue sharing. Here`s what you need to know if you`re considering entering into a co-production agreement.
1. Funding
Co-production agreements typically require all parties to contribute to the funding of the project. The financial contribution from each party may depend on multiple factors, such as the level of creative input, the market size, and the distribution rights. The agreement should specify each party`s investment and how the money will be spent throughout the production process.
2. Creative Control
In a co-production, each party typically has a say in the creative aspects of the project, such as casting, location, and script development. The co-production agreement should establish how creative decisions will be made and who will have the final say. The agreement should also outline each party`s responsibilities and how they will collaborate on creative aspects of the project.
3. Revenue Sharing
Revenue sharing is an essential aspect of any co-production agreement. The agreement should specify how the revenue will be split between the co-producers. The percentage of revenue shared by each party may vary depending on factors such as investment, sales, and distribution revenue. The agreement should also establish how revenue will be managed, collected, and distributed.
4. Intellectual Property
Intellectual property (IP) can be a contentious aspect of any co-production agreement. The agreement should specify who owns the IP, how it will be used, and how revenue generated by the IP will be shared. The agreement should also establish how the parties will handle potential disputes over IP.
5. Distribution
Distribution rights are a crucial consideration in any co-production agreement. The agreement should outline how the distribution rights will be assigned and how revenue generated from those rights will be shared. The agreement should also specify how the parties will handle distribution rights for various territories and languages.
Conclusion
A TV co-production agreement is a complex legal document that requires careful consideration and attention to detail. Working with an experienced entertainment attorney can help ensure that your agreement covers all critical aspects of your co-production project. By covering funding, creative control, revenue sharing, intellectual property, and distribution, you can establish a solid foundation for a mutually beneficial and successful co-production.