In launching new low-budget genre initiative, Warner Bros. acquires horror spec script “Tape 4″ from writer Jeremy Slater. From Deadline:
Incorporates Lovecraftian mythology into a modern setting.
And so the bifurcation of Hollywood major studios continues: Huge big budget franchise movies on the one hand, low-budget franchise movies on the other hand. Note the connective tissue: Franchise. All the mid-ranged projects [$25-75M] are a challenge. Perhaps R-rated comedies. Certain kinds of thrillers. Action movies with a big cast. Some types of adult dramas, but way down toward the low-end of that budget range.
Slater is repped by UTA and Kaplan/Perrone.
By my count, this is 18th spec script sale of 2012.
Last year at this time, there were 15 spec deals.
Sales are up year-to-date 20%, but they’d better pick up to keep pace. By the end of March 2011, there were 25 spec script sales.