For those writers expecting a V-shaped recovery in the spec script market, we got a U-shaped one instead; and a very prolonged bottom at that. Jason Scoggins of the aptly-named “The Scoggins Report” confirms an upward activity in the spec script market. Since the bumper film deal year at Sundance 2011, there have been more spec scripts hitting the market and more scripts being sold since the writers’ strike of 2007-2008.
16 spec scripts sold in March 2011, representing a 39% sales rate. This is more than triple the sales rate at the equivalent time last year, March 2010 (12%) or 6 script sales. The other significant “spring selling frenzy” frenzy were a 13% sales rate during April 2010 and a 12% sales rate in February 2009.
The big four ten percentaries represented the bulk of the selling activity, which has been the trend for the whole year. UTA posted 5 sales, while CAA and ICA each posted 3 sales.
The best-selling genre was thriller, clocking 31% of the total number of spec scripts sold. Comedy represented 25% and sci-fi 13% of the total. Thrillers have been selling extremely well so far this year. Time will tell if this trend will continue.
Interestingly, 1 drama and 1 action script sold in March (6%). This is most unusual for the action genre, since action scripts roughly represent around 30% of the selling activity. Drama scripts are always notoriously difficult to sell, typically representing less than 10% of selling activity.
Let’s keep watering those spec script sprouts so hopefully they’ll blossom into a healthy spec script market again.