What does Low Budget Theatrical Agreement mean?
Low Budget Theatrical Agreement is a SAG-AFTRA contract designed for theatrical film productions with budgets between $700,000 and $2.5 million. This agreement provides flexibility for independent filmmakers to hire professional SAG-AFTRA talent while adhering to union rules. It’s intended to make it easier for indie filmmakers to work with union actors, offering them access to quality talent while keeping costs manageable.
Key Points of the Low Budget Theatrical Agreement:
- Budget Range: The production budget must fall between $700,000 and $2.5 million.
- Flexible Pay Rates: Pay rates are lower than standard SAG-AFTRA agreements, accommodating the needs of smaller productions.
- Intended for Theatrical Release: The film must be intended for theatrical release, though it may also qualify for festival circuits and limited distribution.
Negotiation Tips:
- Deferred Payments: Actors may negotiate deferred payments, especially if the project is expected to perform well in festivals or distribution deals.
- Profit Participation: For films with significant commercial potential, actors can negotiate for a share of profits, particularly in international sales or after-theatrical distribution.
Example:An independent film with a $1 million budget used the Low Budget Theatrical Agreement to hire SAG-AFTRA actors, offering them flexible pay rates and deferred payments based on the film’s success.
Example: A festival-bound film produced for $2 million hired SAG-AFTRA actors under this agreement, with actors negotiating for profit shares based on the film’s global distribution deal.
Did You Know?
SAG-AFTRA’s Low Budget Theatrical Agreement allows indie filmmakers to access top talent while keeping production costs manageable for films between $700,000 and $2.5 million.
Learn More:
For more information, visit the official SAG-AFTRA Low Budget Theatrical Agreement page.
