Fans of Tolkien's "Lord of the Rings" series will have to wait for Peter Jackson to direct "The Hobbit." Tolkien's estate was supposed to be paid 7.5 percent of gross receipts as specified in the movie contract with New Line. However, the plaintiffs claim they have only received an upfront payment of $62,500 for the three movies before production began--but nothing more since, although New Line and Time Warner, Inc. has raked in nearly $6 billion combined worldwide in profits. Selfish studios.
Why do writers get paid so little for their original work?
Winston Groom, author of "Forrest Gump," didn't receive a dime after he signed a contract for a share of the profits for the movie but his share was based on "net profits," rather than "gross points." Due to Hollywood accounting, he received nothing while his story turned into the third-highest-grossing film of all time.
Other films which became blockbusters yet paid writers next to nothing include Rain Man, Batman, JFK, and My Big Fat Greek Wedding.
This is just one reason writers went on strike earlier this past year led by the Writers Guild of America. Other issues included DVD sales and online viewings, new technologies or modes of delivery that writers had not anticipated for revenue streaming. The strike started November 5, 2007, and concluded on February 12, 2008.
Read your contracts carefully. "Net" means "nothing."
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