TORONTO — Sony Pictures Television is forming a tighter relationship with the Wattpad social media platform for storytellers, authors and writers.
Toronto-based Wattpad will use its proprietary technology to identify writers that are likely to appeal to Sony Pictures Television and then act as a liaison between the creators and the multinational TV producer.
A similar approach was used with a TV adaptation of the “Death is My BFF” book series by Wattpad author Katarina E. Tonks, whose work is being co-developed by Sony Pictures Television, Stampede Ventures and Wattpad.
The head of Wattpad Studios, Aron Levitz, says creators retain all of the rights to their works but his company can help them make money from selling rights to the content.
Under the new arrangement, Wattpad will provide Sony Pictures Television with an exclusive first-look opportunity that gives it a limited time to assess the work and offer an option fee that’s “similar or better” to industry averages.
Wattpad isn’t disclosing financial details of its arrangement with Sony Pictures Television or the individual creators.
The Canadian Press