As Alexandra Alter and Brooks Barnes write in The New York Times, “‘We’re basically rummaging through studio trash for stuff that’s been discarded,’ said Perrin Chiles, a founding partner and chief executive of Adaptive Studios. Mr. Chiles is exaggerating only slightly.
Hollywood movie studios are renowned for buying up scripts that never see the light of day. They are warehoused for years, even decades. Four years ago, Mr. Chiles founded Adaptive to go Dumpster-diving through these neglected screenplays, searching for the best of the worst. Adaptive turns the scripts into novels — which it then adapts into films or TV shows.
‘We want the stuff where you have lost all hope,’ Mr. Chiles said. ‘We will take the crumbs off anyone’s table.’ One executive’s crumbs can be another’s all-you-can-eat buffet, apparently. Adaptive has acquired 50 scripts, 25 from Miramax, and the rest from other studios, agencies and production companies. (Mr. Chiles declined to say what Adaptive pays for bundles of scripts.)
Through its publishing arm, Adaptive Books, the company has released a dozen books and plans to publish 18 more over the next year and a half. The novels include Pasta Wars, a romantic comedy for foodies; The Silence of Six, a teenage technology thriller; and DC Trip, Sara Benincasa’s raunchy adult comedy about a high school trip to Washington that goes horribly wrong. Eight of the books are in development for film and television.
Adaptive is producing some projects on its own, like Bleeding Earth, a postapocalyptic young-adult novel that is being turned into a low-budget indie horror movie, and Coin Heist, made for less than $5 million. Others have been picked up by outside producers, including an adaptation of Air, a young-adult novel by Ryan Gattis, which the musician-turned-producer John Legend has signed on to produce. Budgets range from indie (a few million dollars) to midrange ($40 million or more).”
Hey – why not? Sounds like an interesting approach to the business – perhaps it’s the best scripts that don’t get made, which would make this an excellent strategy, with budgets in the Jason Blum / Blumhouse range of roughly $3 million per film – that’s my guess, no matter what it says in the story. It’s outlaw filmmaking all over again – like The Asylum, American International Pictures, or Blumhouse – giving audiences what the majors won’t.