When a Broadway producer options a play or a musical from an Author, the Producer pays a set amount of money (the advance) for a set amount of time. Â Usually that initial option period is a year. Â However, in the rights agreement, that option period can usually be extended to a second year and maybe a third. That used to be enough time to get a show mounted. Â But now? Â It just ain’t. First, putting …
SOURCE: The Producer's Perspective at 11:00AM on December 1, 2014