Your work is your goldmine. Don’t hand over the keys before you know what’s inside.
by Carole Dean
In the past decade, graphic novels and comics have leapt from the dusty corners of comic shops to the glossy screens of streaming giants. Once considered niche entertainment, they now inspire feature films, animated series, and best-selling merchandise. For indie filmmakers, this transformation brings both dazzling opportunities and dangerous pitfalls.
We are extremely fortunate to have the brilliant entertainment attorney Robert Seigel teaching in our Learn Producing Course—because when it comes to understanding contracts, rights, and revenue, his guidance is both eye-opening and empowering.
As he told filmmakers in our must recent class, the key to success is simple to state—but challenging to master: understand what you’re giving up and what you’re getting in return.
When your stories can travel across print, streaming, stage, and every screen in between, knowing how to control your rights—and how to turn those rights into steady revenue—is the difference between a one-time check and a lifelong income stream.
Why Graphic Novels Are Hot—and Why Filmmakers Should Care
Graphic novels are no longer just about superheroes in capes or Saturday morning cartoons. They’ve grown into an internationally respected art form, covering every genre from political thrillers to memoirs. For independent filmmakers, this matters because graphic novels are often the first step toward building intellectual property (IP) that can live far beyond its original format.
- “Scott Pilgrim vs. The World” began as Bryan Lee O’Malley’s quirky black-and-white comic. With careful licensing, it became a cult-classic film that launched careers and created long-tail revenue streams.
- “Saga” by Brian K. Vaughan and Fiona Staples is so cinematic in scope that major studios have been circling for years, eager to adapt its expansive universe.
The message is clear: owning strong IP is power. Whether you’re a filmmaker turning your script into a graphic novel to prove its visual appeal, or a comic artist dreaming of a streaming deal, the first step is understanding your rights.
The Foundation: What Is a Contract, Really?
Robert defines a contract in the simplest way: an exchange of resources. That could mean time for money, art for promotion, or rights to your story for the promise of future distribution. The best contracts are fair exchanges. The worst? They’re lopsided, forcing creators to give away precious rights for little—or nothing—in return.
Many artists sign deals believing any contract is better than no contract. But when you don’t understand what you’re trading, you risk handing away your creative control and financial future. The most valuable service an entertainment attorney provides isn’t just negotiating terms—it’s showing you exactly what you’re giving up and what you’re getting back.
Intellectual Property 101: Knowing What You Own
Graphic novels and comics fall under intellectual property law, specifically copyright. A copyright grants you, as the creator, the exclusive right to control how your work is used and how you earn from it.
But rights aren’t just a single blanket. They’re more like a box of puzzle pieces—and you can sell, lease, or license each piece separately. These rights can be sliced by geography, time frame, distribution method, language, and more.
Major Rights You Can License:
- Publishing: Traditional print, digital editions, audiobooks.
- Public Display: Showcasing artwork in galleries or exhibitions.
- Theatrical: Adapting into live-action or animated films.
- Television: Network, cable, premium streaming, or PPV.
- Home Video: DVD, Blu-Ray, and physical media sales.
- Live Performance: Broadway adaptations or theme park shows.
- Interactive: Console, PC, or mobile video games.
- Merchandise: Toys, clothing, collectibles.
- Sponsorship/Product Placement: Embedding brands in your stories or licensed products.
New forms of media create new rights. Twenty years ago, nobody imagined web-series platforms or augmented reality comics. As technology evolves, so do opportunities to carve out new revenue streams.
How Money Flows: Understanding Revenue Models
Just as there are many types of rights, there are many ways to get paid. Every creator must understand these four key revenue models:
1. Royalties
A royalty is a percentage of every unit sold. For example, if your royalty rate is 30%, you earn $3 every time your $10 comic sells. This is common in creator-owned deals.
2. Advances
An advance is money paid before your work is complete, based on its potential. Book publishers often pay advances based on a proposal rather than a finished product.
3. Minimum Guarantees (MGs)
An MG is a lump sum based on projected sales. If a toy company expects to sell 100,000 units of a licensed product at $10 each, and you’re entitled to $1 per unit, your MG would be $100,000—paid upfront.
4. Page Rates
A page rate is a flat fee paid for every page accepted by a publisher. If you’re paid $300 per page for a 32-page comic, you receive $9,600 regardless of future sales.
These concepts often get complicated by terms like gross vs. net revenue, recoupment, offsets, and cross-collateralization—all tools that can drastically reduce what creators actually take home. As he noted, those nuances deserve their own deep dive.
The Creator’s Dilemma: Work-for-Hire vs. Creator-Owned
In some deals, especially work-for-hire arrangements, the money is predictable—like a fixed page rate. But with creator-owned deals, the landscape gets tricky:
- No advance.
- No MG.
- A blanket royalty that may apply to every future format.
This means you’re working on spec, investing your time and creativity with no upfront pay—and possibly surrendering full rights to your property. In exchange, you’re hoping the publisher turns your idea into a hit.
From the publisher’s perspective, this makes sense—they limit risk by holding maximum rights. But from the artist’s perspective, it’s dangerous. Once rights are gone, they’re gone.
Creators must learn to protect themselves by:
- Limiting the rights granted in a deal.
- Increasing revenue for every project.
- Understanding their ultimate goal before signing.
Lessons From the Trenches
Case Study: “Scott Pilgrim vs. The World”
When Edgar Wright adapted Bryan Lee O’Malley’s beloved comic series into a feature film, O’Malley’s strong creative control ensured the movie stayed true to the books—and that he benefited from its success. This is a prime example of rights carefully managed and well-executed licensing.
Case Study: “Saga”
Brian K. Vaughan and Fiona Staples have carefully maintained ownership and control over their series, allowing them to negotiate from a position of strength as studios line up to adapt the property.
Both creators understood their IP was bigger than the page.
The Power of Negotiation
Negotiation can feel intimidating, especially when you’re an emerging artist sitting across from a seasoned publisher. But knowledge is power. When you understand how rights and revenue interact, you gain leverage—even if you’re still small.
- Know your must-haves: What rights will you never give away?
- Know your goals: Is your dream to make money now (page rate/advance) or build long-term wealth (royalties)?
- Know your exit strategy: If your project succeeds, how do you get back control?
Even with limited bargaining power, clarity and preparation help you avoid predatory deals and protect your creative future.
Building IP for the Long Haul
Independent filmmakers often think only about raising funds to make the next movie. But Robert’s advice applies far beyond comics: Think of your film, your script, or your graphic novel as a valuable asset, not a one-time project.
Every right you license is another doorway for revenue: foreign distribution, streaming, video games, merchandise. If you give them all away early, you’ll watch others walk through those doors while you’re locked outside.
By building IP and managing it wisely, you create a career—not just a credit.
Know What You’re Trading
Contracts are not scary by nature. They’re simply tools—like storyboards or cameras. But a tool used without skill can cause harm.
Robert summed it up clearly: Artists often focus on the dream of getting published or produced without asking, “What am I giving up?” The best deals are balanced, but balance doesn’t happen by accident. It happens when creators take the time to learn their rights, understand revenue models, and approach negotiations with clarity and confidence.
A Call to Indie Filmmakers
Whether you’re adapting your script into a graphic novel, optioning someone else’s comic, or negotiating with a publisher, remember this: your art is your currency. Protect it.
- Treat every contract as an exchange of value.
- Know your rights and keep as many as you can.
- Decide if you want cash today, royalties tomorrow, or both.
- Build your intellectual property as if it’s your life’s portfolio—because it is.
The world is hungry for original stories. Graphic novels and comics are one of the fastest-growing pipelines to film, television, and beyond. If you understand how to secure your rights and structure your revenues, you won’t just tell stories—you’ll create lasting wealth and control over your creative destiny.
Robert Seigel: A Champion for Independent Creators
With over twenty years representing filmmakers, writers, distributors, and performing artists—and negotiating with HBO, PBS, and major streamers—Robert Seigel brings deep expertise in development, financing, production, and licensing. Known for demystifying contracts and protecting artists from giving away too much, his guidance is both insightful and transformative for anyone navigating rights, royalties, and revenue.
Click here to learn more about Robert Seigel and the services he offers. You can email Robert at Rlsentlaw@aol.com
Carole Dean is president and founder of From the Heart Productions; a 501(c)3 non-profit that offers the Roy W. Dean Film Grants and fiscal sponsorship for independent filmmakers.
She is creator and instructor of Learn Producing: The Ultimate Course for Indie Film Production. Essential classes for indie filmmakers on how to produce their films.
She hosts the weekly podcast, The Art of Film Funding, interviewing those involved in all aspects of indie film production. She is also the author of The Art of Film Funding, 2nd Edition: Alternative Financing Concepts. See IMDB for producing credits
