In a “first-look” deal, a movie studio, network, TV studio or production company may contract with an independent producer to get first dibs on the producer’s next projects. The first-look agreement gives the studio the first opportunity to become involved, or the right of first refusal to produce, finance and/or distribute any projects the producer develops. This provides the producer with a committed source of financing for the producer’s next film. If the studio rejects a project, the agreement usually provides that the producer is free to take the project elsewhere.
First-look deals are usually reserved for proven talent.