Naked Spec Sells In Bidding War

DOOM and GLOOM. That’s what 2025 has been for the movie and TV biz so far. US box office has been nothing short of catastrophic, with the only ray of light coming from (egad) The Minecraft Movie. TV writing jobs are down a whopping 42% from last year. Panicky reps have been wondering how to keep the lights on as they send out specs — which have been mostly dying a cold, heartless death.

Until now.

Days ago, Mark Townend’s action thriller RENEGOTIATE sold in a bidding war for mid-six figures against a low-seven-figure production deal, according to Deadline. Three companies bid on the project, but Lionsgate emerged victorious. The deal was negotiated by Paradigm on the agency side, and manager Jeff Portnoy from Bellevue.

So what’s the big deal? Let’s break it down:

1) ORIGINAL, Naked Spec: Naked means “no attachments.” Back in the day, naked specs sold all the time. But recently, reps have been reluctant to send out anything without a name director or actor attached, in the belief that a package increases the chances of a sale. Problem is, it doesn’t always; and it can take years to hear back from certain in-demand actors and directors. Many a writer has gone the packaging route, with nothing to show for their efforts except years of waiting around for a fist full of bupkis.

“Original” of course means not based on IP (an existing book, graphic novel, TV show, etc.), a sequel, remake, etc. A screenwriter simply created it, you know, via writing. And it was deemed good enough to be worth a half million dollars. That, friends, is a beautiful thing.

2) SHOT IN THE ARM. A rising tide lifts all ships. And this sale is a tsunami. It signals to the everyone that the spec market is back, and Lionsgate ain’t messin’ around. And you know what? Nothing drives sales more than spite. “I didn’t get the last one, but I’m damn well gonna get the next one” is how things work.

This script sale may well have rang the “all clear” bell…

3) ALL THOSE UNSPENT DEVELOPMENT BUDGETS. …Because for years now, no one has been spending shit, mainly due to media consolidation, belt-tightening, and the fact that they’re all too scared. But a major player has now announced to the town that they ARE ready to throw down — the implication being that the only way out of these doldrums is via high-quality, original material.

NOT sad-ass remakes, sequels, and adaptations.

Now of course we could be wrong about all this. Things could well continue to be wretched. But I don’t think so. Townend has been killing it, setting up original projects left and right of late, including his spec Augmented, which sold to Warner Bros. with LuckyChap and Denise Di Novi producing, and Continuum at Byron Allen’s Entertainment Studios, among others. An unproduced writer landing a deal like this — again, with no attachments — is unprecedented in the 2020s.

That massive CREAKING sound you hear, ladies and gents, are the floodgates opening. Congrats to Townend and our friends at Bellevue and Paradigm for leading the way. Now, everyone, suit up and stand ready.

FAQs

What is a “Naked Spec” in screenwriting?
A “naked spec” is a screenplay that is sold without any attachments, such as a director or actors. It’s simply the script itself being sent out and evaluated on its own merit. The term highlights that the project isn’t packaged with talent to increase its chances of selling.

Why are Naked Specs considered rare in recent years?
In recent years, representatives have preferred packaging scripts with known actors or directors before taking them out. This approach was believed to improve the chances of a sale, even though it often slowed things down. As a result, fewer unpackaged scripts were being submitted to buyers.

What makes the sale of “Renegotiate” significant?
The script sold as an original, unpackaged spec in a competitive bidding war, which is unusual in today’s market. It also came from an unproduced writer, making the deal even more notable. The strong interest and multiple bids signal that high-quality original material can still attract buyers.

How does this sale impact other writers and the industry?
A sale like this can boost confidence across the industry and encourage more activity. It signals that buyers are willing to invest again, which can motivate representatives to send out more scripts. Increased competition among buyers can also lead to more opportunities for writers.

What is the future of spec script sales in Hollywood?
There are signs that the market may be picking up, especially for original, well-written material. A major sale can trigger more momentum as companies compete for similar projects. While uncertainty still exists, the outlook appears more optimistic than it has been recently.