Long before 3 idiots became a record-mash hit, Chetan Bhagat Be a banker with a side passion for stories. His debut novel Five Point someone (2004) changed that course and eventually caught the filmmakers’ attention and opening doors that would lead him away from finance and to full -time writing.In a new conversation with Kushal Lodha about his podcast, Bhagat reflected on how to sell the film rights into 3 idiots turned into a crucial moment in their career – both creatively and financially. He revealed that he was paid RS 1 Lakh in advance, with another RS 10 Lakh bonus promised after the film’s success. “We had been satisfied with an RS 1 Lakh contract for 3 idiots, with an agreement on an RS 10 Lakh bonus. And after the film’s success, they gave me the bonus,” he shared.While 3 idiots, made on an RS 55 crore budget, continued with gross over RS 350 crore worldwide, Bhag’s total revenue was RS 11 Lakh. But the author says he has no regrets.“I was quite new then. Later such rights were sold for CRORES. But when I sold the rights I didn’t even know if the movie was ever made – it was an unconventional story. No one imagined Aamir Khan would do it. So I think I got paid fairly at that time. I know it sounds a little compared to what the movie did, but it was fair to the situation, ”Bhagat said.
“Compared to acting fees, my business makes sense then”
Bhagat remembered that as early as 2005, when the deal met, the rights rights were nowhere to be close as lucrative as they are today. “Vidhu Vinod Chopra also made Parineeta then. I can’t confirm the numbers, but I was told Saif Ali KhanThe main actor, RS 25 Lakh was paid. So comparatively RS 11 Lakh worked for a successful film fair, ”he said.He also mentioned that five points someone had already found a reader when he sold the rights. “The book was published in 2004, I sold the rights in 2005 and the film was released in 2009. I was still working in a bank then,” he added.
‘I always choose fixed payments over profit sharing’
After seeing several of his books adapted to the screen, including 2 states and half girlfriend, Bhagat explained why he prefers one -time payments instead of revenue sharing models. “You sell the rights for a fixed amount. You get part of it in advance, another part when the studio wet shines the project and the rest before release. It is a fixed payment, he explained.He added, “It is better to discuss money in advance rather than falling for variables. Most production houses are private companies, and although the movie profit often shows it as a loss. With my financial background, I have always preferred fixed payments over variable.” Bhagat gave insight into the mechanics of adaptation agreements and said: “When you sell the rights it is usually for three years. If they do not make the film during that time the rights return to you. Often, if they continue, they pay you more and then the rights will remain permanent.”
