I am a theatrical sound designer, and a play that I worked on has recently been filmed and they have approached me with a seperate contract. They want to give me $5000 for full rights. Should I ask for some points on the net profits, so that I don't lose out if it becomes "big"? The sound design was a major part of the play, winning two awards in NYC and one in LA.
its unusual to ask for points. I'd take the money, hope the show does well, and move on to the next gig.
Late to the game ... sorry.
I have never heard of a sound designer getting points ... ever, and I've been doing this for quite a while now.
I agree, asking for points is unusual. What would be the risks of asking for more money? If they specifically want your work then it sounds like you're in a good position to bargain. If they're currently low on funds try working some form of deferred payment clause into the license agreement if sales go above a certain amount. I don't know anything about the theatre world but $5000 for indefinite rights for an entire plays worth of sound seems low.