Turnaround
When a project is released by one studio, allowing it to be shopped to others.
Definition
Turnaround occurs when a studio releases a project from development, allowing the producer or creator to shop it elsewhere. The releasing studio typically retains the right to recoup development costs if the project gets made, and may retain profit participation.
Projects go into turnaround for various reasons: regime changes, strategic shifts, budget concerns, or simply lack of enthusiasm. Turnaround isn't death—many successful films were previously in turnaround at other studios.
Why It Matters
Understanding turnaround helps creators navigate the development process. Projects passing through turnaround can find better homes; creators should structure deals to enable turnaround rather than letting projects die in limbo.
Turnaround also creates acquisition opportunities—savvy producers scan turnaround notices for undervalued projects.
Examples in Practice
A project in turnaround at one studio becomes a massive hit at another, vindicating the new studio's vision.
A creator negotiates turnaround rights after sensing their studio champion is losing internal support.
A producer acquires a turnaround project cheaply, completing the film successfully despite the original studio's doubts.