TABLE OF CONTENTS
DG Glossary: Financial Terms
Advance
An advance is a sum of money paid to an author upfront by a producer securing the rights to produce the author’s work. Such a sum is payable when a show goes into rehearsal or gets fully financed (whichever comes first), or upon execution of the production agreement. Determining the amount of an advance depends on a number of factors such as the average ticket price, the size of the house, the royalty paid to the author, and the level of production. Many smaller productions, such as black box theaters in remote locations, might pay a flat fee or per-performance fee.
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