True Crime Storytelling: Who Owns The Rights to Reality?

Ron Watermon • November 17, 2025
An Insatiable Appetite for True Crime
It was eye-opening to hear Dave Rutherford, the Director of Photography for Steak Guerrillas, a film I’m directing, talk about work he does for news agencies.  

When I told him about our plans to develop a true-story film studio that would include true crime stories in our slate of projects, he enthusiastically endorsed the idea sharing that many times he has covered the same true-crime story for half a dozen networks.  

I knew there was an almost insatiable appetite for true crime stories, but to hear Dave put it into those terms was validating. Dave has routinely filmed interviews covering the same story for six different networks.   

I couldn’t shake the irony.  

Every outlet got their own version of the footage. Every producer got their own show. Every streamer got their slice of the audience. But the guy who lugged the camera, and stood behind the yellow tape? He got a day rate.

That conversation has stayed with me because it exposes something bigger than one job (or six DP jobs for one salacious story). It reveals a structural truth about how media works and how ownership, not access, decides who wins.

In the modern true-crime storytelling economy, everyone can tell the same story, but only the people who own the rights get paid long after the cameras stop rolling.

The Reality Monopoly
For decades, big media conglomerates have enjoyed an advantage. Their newsrooms feed the story pipeline, while their studios and streaming platforms monetize it.

It plays out this way. A murder happens and the news breaks. The network’s investigative team covers it for nightly news. Months later, a “sister company” announces the limited docuseries. 

The reporter who uncovered the case, built trust with sources, and chased leads for months? They get thanked in the credits or interviewed for the documentary if they’re lucky.

That’s not a conspiracy; it’s simply the media business model. A very profitable one. 

When news divisions sit under the same corporate roof as film studios and streaming platforms, stories don’t just inform the public, they fuel a content supply chain and balance sheet. 

The people doing the hard, dangerous, emotionally exhausting work rarely share in the upside. I’ve seen that model up close. I think it’s time to challenge it.

Facts Are Free. Ownership Isn’t.
You can’t copyright reality. You can’t own a crime, a scandal, or a court case. But you can own the way you investigate it, interpret it, and shape it into a compelling narrative. The intellectual property exists in the telling or “expression” of the story.

When a journalist like T.J. English writes The Corporation or The Last Kilo, he’s not just reporting facts. He’s crafting a work of authorship, his unique expression of that story that is protected by copyright law.

That expression is what studios pay seven figures to adapt. You heard me right, seven figures. Look it up. It can be lucrative if you are a gifted storyteller who puts in the hard work of crafting the story in an emotionally compelling way.

T.J. isn’t alone. The same goes for David Grann, whose book Killers of the Flower Moon began as meticulous reporting. When Apple Studios bought the film rights, they weren’t buying history, they were buying his expression or telling of it.

Ownership lives in the expression, not the event. That’s what most journalists never realize until it’s too late.  

How Big Media Keeps the Rights
Inside legacy newsrooms, the system is designed to strip ownership from creators. “Work-for-hire” contracts make the company the author of record. There is nothing nefarious in this arrangement. It is simply smart business.  

Your investigation might be brilliant, but the corporation owns the footage, the notes, the transcripts, even your emails. They paid you for your work. They own it. You don’t.  

If that same company later adapts the story into a docuseries, you can’t claim a share because technically, you created it as their employee. The corporation didn’t steal it. They structured it that way from day one. Like I said, nothing nefarious is going on, it is simply a smart storytelling business model at work.

It’s also why many of the most talented investigative journalists end up with impressive résumés but limited leverage. They generate value, but they don’t own it. But if they decide to write a book and work independently, well that’s a different story. Possibly, one with a seven-figure potential.

The Rise of the Journalist-Producer
A quiet rebellion is underway. 

In a world where more media is created by the masses than by mass media, independent journalists are starting to treat their investigations like creative properties instead of disposable assignments. 

They’re filing copyrights, writing treatments, self-publishing e-books, and launching narrative podcasts. They are creating assets before ever approaching Hollywood.  

Once the story is codified as an authored work, it becomes something that can be licensed or sold rather than simply covered. It is a smart approach.

That’s how T.J. English built a career that moved seamlessly from crime reporting to producing. It’s how Sarah Koenig turned Serial into a franchise that redefined the podcast landscape. It’s how small investigative teams behind shows like Dirty John and Dr. Death parlayed journalism into multi-platform IP.

The formula is simple, but powerful: Do the reporting. Shape the narrative. Secure the rights. Then choose your partners; don’t let them choose you.

My Own Lesson
Earlier this year, a promising project collapsed at the eleventh hour, which taught me an expensive but valuable lesson about story ownership and our business model.

When I launched my company, I positioned it as a fee-for-service storytelling firm. We helped clients own their stories, first through video projects, then later through higher-end productions designed to help them monetize those stories.  

In 2023, I approached a labor union with a bold idea: preserve its colorful history and build a foundation for a true-crime-style series. The union’s past included fascinating characters, corruption, and organized crime — everything a filmmaker could ask for. For two years, I worked to move the project through their leadership. By September 2024, they approved the concept and asked for a contract.

Then the deal stalled. For six months, I tried to get it signed. Finally, in January, one board member torpedoed the entire effort.

Disappointing? Yes. But also clarifying. The same union official who killed the deal introduced me to a crime writer who had already done the story work. That’s when it clicked.

We didn’t need the union’s permission to tell the story. Their cooperation would have been helpful, but the value of the project was never in their ownership of the history, it was in the telling of it. That’s what Hollywood pays for.

The reason studios pursue journalists, authors, and screenwriters is simple: the creative expression is the asset. A well-crafted narrative, not the raw events, is what commands seven-figure deals.

I realized I’d structured my business backward. 

By centering the “client,” I was giving away or undervaluing the most valuable part of the process – the storytelling. Authorship. Expression. That is us, not them.   
 
The better approach is to commit to the story, build the team, and then approach those who lived the story to see if they want to be involved. That is an entirely different offer.  

The smarter path, and the one we are developing with our independent film studio is creator-driven storytelling: partnering with writers, journalists, and filmmakers who already own or can create the underlying story material and then connecting with sources like the union.

That’s the Hollywood model. Option the story, develop it, and protect it through copyright. Own the production process. There is no need to validate that model. It’s how a growing three-trillion-dollar global industry already builds enduring value. I just wish I’d realized it sooner.

Our Storytelling for ALL Philosophy
At STORYSMART®, we believe creative ownership shouldn’t belong exclusively to media giants with legal departments and distribution pipelines. 

It belongs to the people who lived the story, researched the truth, or invested the time to tell it Well. That includes journalists, authors, documentarians, families, and even victims’ advocates. We see it as creator collective that shares ownership with investors and story sources.  

Our philosophy is simple: Ownership is participation. The people who build the story should share in the reward. We believe transparency builds trust. Equity and collaboration prevent exploitation. Shared success creates sustainability. A fair deal today means more truth tomorrow.

We’re developing an independent studio that partners with journalists and researchers who already have access, relationships, and deep work behind them, giving them the production and financing support to finish strong without surrendering creative control.

The old model says: “We’ll buy your story.” Our model says: “Let’s own it together.”

A Quick Reality Check for Journalists
If you’re an investigative reporter, author, or filmmaker sitting on a powerful real-life story, here’s a simple checklist:

  1. Document Your Work. Keep research logs, interview transcripts, and a clear outline of your narrative. That becomes evidence of your authorship.
  2. Create an Original Expression. Write a treatment, an article, or a manuscript that shapes the facts into your storytelling lens. Once it’s expressed, it’s protectable.
  3. Secure Releases Early. Get written permissions from sources or subjects to use their likeness, materials, or interviews. It costs nothing now and saves everything later.
  4. Register Your Copyright. A $45 registration with the U.S. Copyright Office turns your effort into a recognized creative work. You still have protection without filing, but filing provides additional benefits.  
  5. Explore Partnership Models. Don’t default to work-for-hire. Find collaborators who offer shared ownership or back-end participation.

Equity isn’t just for investors — it’s for creators.

Why This Matters Now
We’re living through a moment when truth itself feels commodified. Disinformation spreads faster than facts. Outrage outperforms nuance. And yet, audiences crave authentic, deeply reported storytelling more than ever.

That tension makes true-crime storytelling one of the few places where journalism, art, and commerce collide. The question isn’t whether these stories will be told. It’s who gets to tell them and who profits when they’re told.

Independent storytellers are proving that ownership doesn’t require a newsroom behind you. It requires discipline, courage, and a basic understanding of how value moves through the entertainment system.

When you treat your story as IP, you don’t just protect your work, you amplify its impact. You ensure that the people who uncover truth can afford to keep doing it.

The Democratization of Story Power
For most of history, the means of production (cameras, crews, edit bays, distribution) belonged to highly capitalized corporations. You needed real wealth to create wealth through production.  

Today, the means of production fit in your backpack.  

You can shoot, edit, and distribute globally for a fraction of what it once cost a network. You can crowdfund, self-release, or partner with equity-minded studios.

The gatekeepers are still there, but their gates are rusting. That’s why this moment matters.

We can finally democratize truth-telling, not by tearing down journalism, but by giving journalists ownership in the stories they create.

That’s the future I’m betting on with the development of our storytelling collective.

From Reporting to Royalties
Let’s be honest: most journalists didn’t choose the profession to get rich. But that doesn’t mean they should stay broke while others cash in on their work.

The current media model rewards corporations for scale, not individuals for integrity.
It’s time to flip that script.

If you’ve put your heart, risk, and reputation into uncovering a story, you deserve more than a paycheck and a headline. You deserve a stake.

That’s the promise of independent, equity-based non-exploitative storytelling. A world where truth-tellers are not just heard but compensated fairly for the work they do.

The future of storytelling will belong to those who stop renting their talent and start owning their work. Because in a world overflowing with information, truth is everyone’s, but the telling is yours. That is where the real value lives.

About the Storytelling for ALL™ Newsletter
The Storytelling for ALL™ LinkedIn Newsletter is a guide to making the most of your true story. Twice a month, I'll share proven strategies, creative approaches, and industry-tested tools to help you take control of your narrative, protect your rights, and collaborate with great storytellers to bring your vision to life.

You’ll get practical, actionable insights to adapt your story into a book, film, documentary, or legacy preservation project — using the same approaches that top professionals rely on, now made accessible to you.

Whether you’re an athlete, public figure, entrepreneur, or someone with a story worth telling, this is where you’ll learn to share it — on your terms.

Join the conversation with #StorytellingForALL and reach out to me personally if I can help.

By Ron Watermon May 19, 2026
What the Michael Jackson Biopic Teaches Us About Storytelling
By Ron Watermon May 5, 2026
Why "True Story" Horror is So Profitable
By Ron Watermon May 1, 2026
Why I'm Changing How I (and STORYSMART®) Tell Stories
By Ron Watermon April 26, 2026
How a Story of a U.S. Airman Shot Down in Iran is Already Becoming a Feature Film
By Ron Watermon April 21, 2026
Turning Photos into Cinematic Storytelling Assets
By Ron Watermon April 7, 2026
There are moments in your career that don’t feel particularly significant at the time, but years later, you realize they changed everything. The television show we started when I was with the St. Louis Cardinals, Cardinals Insider, is now heading into its 11th season. In an industry where most things don’t last, there’s something meaningful about building something that endures. While I've already shared the story of how the show almost didn’t happen, what’s been on my mind recently is what we were doing before it ever aired. For me the show was never the starting point, it was a destination on a journey that began seventeen years ago when I decided to fully commit to becoming a brand journalist. A Baseball Brand Journalist When I moved over to the Baseball Operations Department to work with our Media Relations team in September 2009, the media landscape looked very different than it does today. Social media was still in its infancy. We had exactly one platform we controlled, Twitter, and even that was a bit of a mess. Our account was @MLBstlcardinals, while Major League Baseball operated @stlcardinals out of New York. It was confusing for fans and limiting for us. But it also created an opportunity. Instead of waiting for others to tell our story, we decided to start telling it ourselves. Not as marketers, but as actual storytellers. More specifically, we adopted a mindset rooted in journalism. The fundamentals I learned years earlier in college—who, what, when, where, why, and how. The discipline of getting it right. The importance of clarity, structure, and credibility. We weren’t trying to spin the story. We were trying to tell it honestly, accurately, and from a clearly defined point of view. That point of view mattered. We made a promise to our audience: we would cover the team like journalists, but from the inside. We weren’t going to pretend to be something we weren’t. We were insiders. That was the advantage. And instead of hiding from it, we leaned into it. At the same time, we understood the responsibility that came with that position. We didn’t need to be first. We needed to be right. That meant establishing standards. It meant covering the good moments like the wins, the milestones, and the behind-the-scenes access fans couldn’t get anywhere else. But it also meant not ignoring the harder stories when they arose. Credibility was always at stake, and we treated it that way. I knew were building something. A system. A mindset. A way of approaching storytelling that went beyond promotion and into something far more durable. Over time, that approach evolved into a weekly TV show that’s still on the air more than a decade later. But none of that happens without what came first. The decision to think as brand journalists with a point of view. Brand Journalists with a Point of View What we were building in those early days didn’t look like much from the outside. There was no studio. No formal production schedule. No distribution strategy beyond posting to social media and linking out to photos and video. In fact, some of the earliest tools we used would feel almost laughable today.
By Ron Watermon April 2, 2026
St. Louis, April 1, 2026 - Last week I had one of those “ no shit, Sherlock ” moments where the obvious hits you all at once. I was thinking about Opening Day. Like I’ve done the past few years, I planned to share a throwback post from ten years ago. I dig into my photo archive, find a few cell phone images from seasons past, and put something out on social media. Posting doesn’t come naturally to me. I know that sounds ironic given what I do now, but I’ve never been particularly drawn to self-promotion or the performative nature of those platforms. After all, I’m a middle-aged introvert, not some Gen Z dude who grew up with social media and enjoys showing off. I hate shameless self-promotion and bragging. That said, I have a fellow Gen X friend who has been chirping at me for years to share more about my time with the St. Louis Cardinals. I headed her advice and started digging. What I found stopped me. As I worked my way through old photos, I realized that 2016 wasn’t just another season. It was the year we honored Lou Brock and the year we launched Cardinals Insider, the television show I developed and produced during my time with the club. That’s when it hit me. It has been a decade. And the show is not only still around— it’s thriving . I must tip my cap to my colleagues at the Cardinals as they have continued to invest in it, expand it, and build on the foundation we put in place back in 2016. It is truly remarkable. Seeing that now as I’ve transitioned my business into filmmaking, hit me in a profound way. It was literally an “aha” moment. Like a lot of entrepreneurs and creatives, I’ve wrestled with self-doubt. You question whether you’re on the right path. Whether the work you’re doing is building toward something. Realizing that this show that I fought to make happen has now run for more than a decade was affirming. Because the vision was never small. From the beginning, the goal was to build something self-sustaining that would continue to grow and evolve long after I was gone. And it has, big time. That realization couldn’t have happened form me at a better time.
By Ron Watermon March 25, 2026
For years, we’ve talked about the “creator economy” as if it exists somewhere outside of Hollywood. That distinction is collapsing. The recent partnership between TikTok and Tubi isn’t just another creator initiative or talent program. It’s more significant. It’s a signal that the infrastructure of the entertainment industry is being rebuilt quietly, efficiently, and right in front of us. And if you understand what’s happening here, you begin to see something I’ve been talking about for a long time through the STORYSMART® framework: The future of media belongs to those who originate, control, and develop their story IP—before anyone else does. The Headline Is Misleading—The Shift Is Not On its face, the announcement is straightforward. TikTok and Tubi are launching an incubator to help creators develop long-form series. Creators will lead the creative direction, TikTok will help identify talent, and Tubi will provide support and distribution. That sounds like a program. It’s not. It’s a system. What we’re witnessing is the formalization of a pipeline that has been developing organically for years: Short-form → Audience → Proof of Concept → Long-form → Monetization That pipeline used to be fragmented. It is now being institutionalized and that changes everything. A “New” Studio System Is Being Built To understand why this matters, it helps to zoom out. The traditional studio system operated like this. Studios sourced or acquired IP. Studios then developed the projects internally. They controlled production and distribution. Creators were hired to execute. In that model, power flowed downstream from the studio. What we’re seeing now is the inversion of that model. Today creators originate IP. They build audiences directly. Platforms identify what’s working and then invite creators upstream into long-form development. That’s not a minor shift. That’s a structural reorganization of the industry. Tubi isn’t just licensing content. It’s building a development pipeline fed by creators who already have validated ideas and audiences. They have built a following and are consistently engaging with that audience. TikTok isn’t just distributing content. It’s functioning as a global story testing engine. Put those together, and you don’t have a partnership. You have a modern studio system. Short-Form is the New Development Slate One of the biggest misconceptions creators still have is thinking of their short form content as the “end” product. It’s not. It’s the beginning. What used to be a script, a pitch deck, or a sizzle reel is now a feed. Every post is a test. Every series of posts is a proof of concept. Every engaged audience is a signal that there is an appetite for more. It is also validation of episodic entertainment. In Hollywood, development executives used to ask: Does this story work? Is there an audience? Can this scale and will we make money? Today, those questions are being answered in real time, publicly, on platforms like TikTok. The difference is speed and data. Instead of spending months developing a concept in a vacuum, creators are now essentially iterating ideas in public. They are refining tone, structure, and format. They are building an audience alongside the story, if you will. By the time a platform like Tubi gets involved, the risk profile has already changed. The story isn’t theoretical anymore. It’s proven. From Feed to Franchise This is where it gets interesting. Because once you understand that short form is development, you start to see the next phase: Episodic storytelling is the bridge from feed to franchise. Creators who succeed in this new ecosystem aren’t just posting content. They’re building narrative continuity. Think about it. They’re creating recurring characters, ongoing storylines, thematic consistency, and audience expectation. In other words, they’re doing what television has always done, just in shorter bursts. And that’s the key. The transition from short-form to long-form isn’t a leap. It’s an extension. When done correctly, a long-form series is simply a more expansive version of something that already works. That’s why this Tubi + TikTok model makes so much sense. It’s not about “teaching” creators how to make long-form content. It’s about identifying creators who are already thinking episodically and giving them the resources to scale. The Shift from Dependency to Leverage There’s another layer here that matters just as much. For years, creators have been dependent on platforms. Algorithms dictated visibility. Platforms controlled monetization. Distribution was the gate. That dynamic is shifting. What this partnership signals are that platforms are now competing for creators who bring something valuable to the table. They are looking for a built-in audience, fresh IP, and proven engagement. That’s leverage. All of this aligns directly with a core principle of our STORYSMART® philosophy. Don’t build your story on someone else’s platform. Build your story so platforms come to you. To be clear, that doesn’t mean ignoring platforms. It means using them strategically. I’m a big fan of the idea of non-dependent distribution. I’m inherently cynical about big monopolies and technology that touches us everywhere we go. But there’s a difference between being platform-dependent and being platform-leveraged. Creators who understand that distinction will be the ones who benefit most from these new models that are being pioneered. The STORYSMART® Lens: Why This Matters Everything we teach through STORYSMART® is built around a simple idea: your story is an asset. It is not content. It is not just a post or a one-off project. Your story is an asset that should be treated like any other asset. Like any asset, its value is determined by ownership, structure, how it is developed and how it is positioned in the market. What this Tubi + TikTok initiative validates is that the market is now actively seeking well-developed story assets originated by creators. But most creators aren’t prepared. They have content. They have audience. They even have momentum. But what they often lack is a clear story architecture and well-organized, copyright-protected source material with clear rights clarity and smart development strategy. That’s where the gap is. And that gap is exactly what the STORYSMART® framework is designed to solve. Because when a platform comes calling, the question becomes are you ready to scale your story or are you just reacting to the opportunity? The STORYSMART® Media Mogul Mindset This is where mindset becomes strategy. The creators who will win in this new environment are the ones who stop thinking like content creators and start thinking like media companies. That means treating short form as development, not output. It means building stories intentionally, not accidentally. Most importantly, it means understanding right and ownership from day one and structuring projects for long-term value. It’s the difference between “I have a following” and “I have an IP pipeline.” That’s the STORYSMART® Media Mogul Mindset. And it’s no longer optional. Because the industry is moving in that direction with or without you. Why This Moment Matters Right Now Timing is everything. We’re at a point where several forces are converging. Streaming platforms need cost-efficient, proven content. Creator platforms have massive talent pools and data. Audiences are already conditioned for episodic, bite-sized storytelling and technology has democratized access to quality production. That convergence creates opportunity. But it also creates competition. Because as more creators enter this space, the differentiator won’t be who can create content. It will be who can develop story. That’s a higher bar. And it’s where professionals such as filmmakers, journalists, and writers have an edge if they adapt. The Big Picture So no, this story isn’t really about TikTok or Tubi. It’s about the emergence of a new system where development starts in public, validation happens in real time, and platforms act as accelerators, not gatekeepers. Creators who understand story and smart deal structure will rise to the top. Hollywood isn’t going to disappear. It is decentralizing. And in doing so, it is creating more entry points than ever before. But access without strategy doesn’t lead to ownership. And ownership is where the real value is created. If you’re a creator, a filmmaker, a public figure, or someone sitting on a story that matters, this moment should feel both exciting and clarifying. Because the path is becoming more visible. Start with your story. Develop it intentionally. Build your audience. Structure your IP. Then scale. That’s how you go from feed to franchise. And that’s how you operate in a world where the new studio system isn’t coming. It’s already here. With the right media lens, you can see it hiding in plain sight.
By Ron Watermon March 24, 2026
I recently watched All the Empty Rooms, the Academy-Award winning documentary short film on Netflix and I haven’t been able to shake it. Not because it’s loud or dramatic. It’s not. In fact, it’s the opposite. It’s quiet. Patient. It lingers. It is honest and simple. And it is quite powerful. I think that is why it stays with me. Watching it, I realized that this wasn’t something that suddenly became a film. This was something that had been unfolding for years. Seven years, to be exact. It didn’t begin as a documentary project. That’s the part I think matters most, especially if you’ve spent any time in journalism. Because films like this don’t come out of nowhere. They come out of work that, in many cases, has already been done. I think there is a lesson here for all storytellers, but journalists especially. It Started the Way These Stories Often Start It started with reporting. It started with showing up, asking questions, and building trust over time. Sadly, the journalist at the center of All the Empty Rooms had been covering school shootings for years. Not just parachuting in for headlines, but returning, revisiting, staying in relationship with the people living in the aftermath. And over time, something shifted. When you cover enough of these stories, there’s a risk that sets in, not just for the audience, but for the person doing the work. A kind of cultural numbness. Another headline. Another mass shooting tragedy. Another news cycle. I think what began to take hold for the journalist was a discomfort with that rhythm. Because what he was seeing up close didn’t feel like headlines. It felt like lives that had been interrupted. Rooms that had been left behind. Families carrying something that doesn’t resolve. CBS journalist Steve Hartman started to realize that the way these stories were being told, fast, efficient, fact-driven, wasn’t capturing what he was experiencing. For him the question became: What would it look like to tell this differently? The Ethical Weight of Going Deeper That question isn’t just creative. It’s ethical. Because once you decide to go deeper, you’re asking something of people. You’re asking to enter their space. Their homes. And in this case, that wasn’t taken lightly. In fact, there was real hesitation. A kind of dread, even, about what it would mean to show up with a film crew and ask families, who had already been through so much, to open their doors again. There’s a line you don’t want to cross. As a journalist, you’re trained to be mindful of that. To not exploit. To not intrude. And yet, something unexpected happened. Families said yes. Not because they wanted to relive the worst moment of their lives. But because they understood what he was trying to do. He wasn’t there to document the tragedy. He was there to document the life. That distinction matters. He was interested in who their child was. What they loved. What filled those rooms before they were empty. In a way, he was helping them protect something that felt at risk of being lost—not just memory, but identity. Not just how their child died, but how they lived. The Power of Small Details That intention shows up in the way the film is constructed. There’s no rush to get to the point. No urgency to explain everything. Instead, the camera lingers. On photographs. On objects. On rooms that still hold the shape of someone who isn’t there anymore. And that’s where the film does something that reporting alone can’t. Because when you read an article, you move at the pace of information and your deadline. When you watch a film like this, you move at the pace of presence. You sit in it. You notice things you might otherwise pass over. A jersey on the wall. A bed that hasn’t been made. A photograph that suddenly carries more weight than it ever did before. Those details don’t just support the story. They are the story. A Deliberately Narrow Frame One of the most interesting creative decisions in All the Empty Rooms is how narrow it is. This isn’t a sweeping examination of school violence. It doesn’t try to cover every angle or offer a comprehensive analysis like college thesis. It stays focused. Photographing rooms. The elements are rooms. Photographs. Fragments of conversation. Personal video clips. A reporter carrying the weight of the story. And the reporting journey that ties it all together. That constraint is what gives it power. Because instead of expanding outward, the film goes inward. It doesn’t try to explain everything. It lets you feel something. And that’s a different kind of storytelling. Why This Became a Short Film I think this is where a lot of people misunderstand the role of short films. There’s an assumption that a short is just a smaller version of a feature. But in cases like this, the short format isn’t a limitation. Quite the opposite. This film works because it’s compressed. Because it doesn’t overextend. Because it trusts that the weight of what you’re seeing doesn’t need to be stretched into something bigger to be meaningful. In fact, doing so might have diluted it. What you have here is essentially a single premise: What remains after someone is gone. And instead of building that into a broader narrative with multiple arcs and threads, the film stays with that premise. It isn’t overthinking it. It is built with quiet observation. Verité. Silence. Detail. It is powerful because of that. It becomes immersive precisely because it doesn’t try to be expansive. And that’s a lesson in and of itself. Not every story needs to be bigger. Some stories need to be more focused. The Moment the Story Changed If you step back and look at this from a process standpoint, there’s a moment in every project like this where something shifts. Where the person doing the work realizes: This isn’t just an article. That moment doesn’t come from nowhere. It comes from accumulation. From years of interviews. From relationships that have been built. From material that has been gathered but not fully used. Because in journalism, you often collect far more than you publish. You distill. You compress. You extract what fits the format and your deadline. But the full story - the conversations, the pauses, the emotional texture— often stays behind. In filmmaking, that’s the raw material. And in this case, that material had been building for years. Seven years of it. At some point, the realization becomes unavoidable: There’s more here. Talk to any journalist and they will tell you they wish they had more time and space to go deeper and tell the more impactful story. I’m grateful that Steve Hartman and photographer Lou Bopp embarked on this journey together and decided to go the next step of bringing in Joshua Seftel to document the journey. What This Says About Journalism This is the part that keeps coming back to me. Because if you’re a journalist, none of this should feel foreign. You already know how to find stories. You know how to build trust. You know how to ask the questions that matter. You’re already doing the hardest part. What’s different is how that work gets developed. In journalism, the goal is to make deadline. In filmmaking, the goal is to build something that can be experienced over time. And that shift from output to development is where I see the biggest gap. Because most stories are treated as something you finish. You write them. You publish them. You move on. You’re on the deadline hamster wheel. That is how I felt working in baseball. After today’s game, we haven another game, and another and so on. But in the context of this story, what if that’s not the end? What if it’s the beginning? The Stories That Stay with You Every journalist I know has a few stories that don’t leave them. The ones that stick. The ones where the relationship didn’t end when the article was published or the story was broadcast. The ones where you know, deep down, that you only told part of it. Those are the stories I think about when I watch a film like All the Empty Rooms. Because those are the stories that have the potential to become something more. Not because they’re bigger. But because they’re deeper. From Reporting to Filmmaking When I talk about STORYSMART®, one of the core ideas I come back to is this: You’re not just creating content. You’re creating assets. And what you have, if you’ve been doing this work for any length of time, is a body of material that likely goes far beyond what you’ve published. Interviews. Audio. Video. Notes. Relationships. Access. Ideas that won’t leave your head. Probably multiple story angles and competing ideas fight for primacy in your brain. I know I get that way. It is almost like a March Madness bracket of ideas that pull at your heart. I’m here to tell you that all of body of work in your files are storytelling source materials. It might be the foundation of a film, but it only becomes that if you recognize it. If you treat it as something worth developing. If you think beyond the first version of the story and you are willing to collaborate with others to take it to the next level. Coming Back to the Rooms When I think about All the Empty Rooms, I don’t just think about what’s on screen. I think about everything that made it possible. The years of reporting. The relationships that were built. The trust that was earned. The hesitation that had to be worked through. The decision to go deeper. The willingness to give back and share a gift with the families you covered. And ultimately, the choice to tell the story in a way that resists the pace of everything else around it. To slow down. To sit with absence. To let the rooms speak. That doesn’t happen by accident. The Question I Keep Coming Back To If you’re reading this and you’ve spent time reporting, I think there’s a simple question worth asking: What story have you already told that isn’t finished? Not unfinished because you didn’t do the work. Unfinished because there’s more there than the format allowed you to share. Those ideas fighting to advance further. I can tell you this for fact: there are stories sitting in notebooks, in transcripts, in hard drives right now that have the potential to become something far more enduring than a single article. In some rare cases, it might be something like All the Empty Rooms. Something that doesn’t just inform. But stays with you. From reporting to something that lasts in the hearts and minds of your audience. And once you start to see your work through that lens, you begin to realize the story may already be there. The question is whether you’re willing to follow it a little further. About the Storytelling for ALL® Newsletter The Storytelling for ALL® LinkedIn Newsletter is a biweekly newsletter examining how stories are developed, protected, and brought to life in today’s evolving storytelling economy. Every other week, I explore the creative, ethical, and economic forces shaping books, films, documentaries, and other story work through the lens of development, rights, collaboration, and long-term value. Written primarily for creators and collaborators, the newsletter also serves story sources who want to understand how their true stories move from lived experience to finished work and how better structure early leads to better outcomes later. For deeper studio thinking, tools, and updates, The STORYSMART® Way is our monthly email newsletter for members of the Storytelling for ALL® community. About Our STORYSMART® Perspective We approach storytelling and filmmaking as a long-term, rights-first business rather than a project-by-project creative exercise. Our focus is on understanding how stories create value over time through ownership, disciplined development, and thoughtful risk management. The ideas shared here are intended to contribute to a broader conversation about sustainable, independent media, not to promote specific projects or investment opportunities.
By Ron Watermon March 9, 2026
In 1989, something unusual happened in Hollywood. An actor who was already one of the biggest stars in the world decided to take less money. That actor was Jack Nicholson. The film was Batman. And the role was the Joker. Nicholson could have demanded a massive paycheck. At the time, he was already commanding salaries around $10 million per film, extraordinary money in the late 1980s. Instead, he negotiated a different kind of deal. He took a lower upfront salary and asked for something far more interesting: A share of the upside. Specifically, Nicholson negotiated participation in the film’s gross box office, along with revenue from licensing and merchandising tied to the character and the film. While estimates vary, the consensus is that his deal ultimately earned him somewhere between $60 million and $90 million. For a film released in 1989, that was staggering. But the bigger story isn’t just how much money Nicholson made. The real lesson is how he thought about value. Nicholson wasn’t just negotiating as an actor. He was negotiating like a partner in a story. And that mindset of understanding the economic value of storytelling offers a masterclass for anyone working in the creative economy today. A Time When Batman Was a Risk It’s easy to forget how uncertain the project looked at the time. It was a different world then. It wasn’t a foregone conclusion that the film would be successful. Today, Batman is one of the most valuable franchises in entertainment history. But in the late 1980s, the character’s most prominent screen appearance was the campy 1960s television series starring Adam West that I watched in syndication growing up in 70s and early 80s. The darker, cinematic version we now associate with Batman didn’t yet exist. It was more “cartoonish” and cheesier. Rebooting Batman for the big screen was a risk. The studio taking that gamble was Warner Bros., and the director attached to reinvent the character was Tim Burton, who at the time had directed Pee-Wee’s Big Adventure and Beetlejuice, was considered talented but unconventional. The film was a major bet. But Nicholson understood something important about bets. They become less risky when the right people attach themselves to them. He understood the leverage he had, as well as impact his involvement would have in the production. When Nicholson agreed to play the Joker, the project immediately gained credibility. His involvement signaled to audiences, investors, and the industry that this wasn’t just another comic book adaptation. It was an event. That’s the power of attaching talent to a project. Certain names bring legitimacy. They bring attention. They bring marketing gravity. And they often bring audiences. In other words, they bring financial value. It is what they mean by “bankable name.” Nicholson knew that his name would dramatically increase the film's chances of success. So instead of treating the project as just another acting job, he negotiated accordingly. Like a vested partner. The Bet That Paid Off The gamble worked. Batman became a global blockbuster, grossing more than $400 million worldwide, an enormous number at the time. It launched a new era of comic book films and helped establish the modern superhero franchise model. But perhaps even more importantly, it helped unlock the long-term value of the Batman intellectual property. That value didn’t end with one movie. It became a massive money-producing story franchise with all kinds of derivatives springing from that success. Over the decades that followed, Batman became a massive portfolio of storytelling assets: films, animated series, television shows, merchandise, licensing deals, games, streaming content, and more. The cumulative value of that franchise now reaches into the multi-billions. That is the power of story-driven intellectual property. It compounds. Nicholson understood that dynamic before most people in Hollywood did. By negotiating participation in the story's success, not just his performance, he aligned himself with the long-term economics of the franchise. In effect, Nicholson traded short-term certainty for long-term participation. And he won. He won big. Why This Deal Changed Hollywood Nicholson’s deal didn’t just make headlines. It helped change how creative talent thinks about compensation. For A-listers, it became a template. It impacted the talent market like how a big free-agent deal in baseball impacts other players entering free agency. The market is always moving. The entertainment industry is no different. For decades, actors were largely paid salaries. The studio took the financial risk and the studio captured most of the upside. Nicholson’s agreement demonstrated something different. He learned a lot from his One Flew Over Cookies Nest back-end deal. “Do I look like the kind of clown that can start a movement?” the Joker once asked. Well, Nicholson wasn’t crazy or joking. He started something. Looking back now, it is a masterclass lesson for us. When key talent contributes meaningfully to a project's success, sharing in the upside makes sense. It aligns incentives. It rewards creativity. And it encourages collaboration. It creates more “ownership” in an agency and incentive context. Today, backend participation is common for top actors, directors, and producers. It’s now an expected part of major deals in Hollywood. But deals like that didn’t appear out of nowhere. They evolved because people like Nicholson demonstrated that creative talent could think like partners, not just hired hands. That shift changed the economics of filmmaking, and it reinforced a fundamental truth about storytelling businesses: The story is the asset. All who contribute to it should share in the rewards. Why Story IP Matters More Than Ever This idea becomes even clearer when you look at the broader business context of the entertainment industry today. Major studios aren’t valuable just because of their production capabilities. Their true value often lies in their libraries of intellectual property, the characters, stories, and worlds they own and control. Those catalogs have generated revenue across multiple platforms for decades. Smart stewardship of IP is a critical cornerstone of how creators should be approaching their work in our modern media landscape. Anything otherwise would be malpractice in my mind. While the world is buzzing about two other letters – “A” and “I” – Artificial Intelligence, the smart folks are focused on two letters that are much more important – “I” and “P”. Intellectual Property. Big catalogs of IP are one of the reasons companies like Warner Bros. Discovery remain attractive targets for mergers and acquisitions. Their balance sheets contain something incredibly valuable: vast collections of storytelling IP that can be exploited to create wealth for decades to come. Every time a classic property is rebooted, adapted, streamed, licensed, or merchandised, the value of those assets continues to grow. Batman is one of those crown jewels. And Nicholson recognized that long before most people were talking about “IP portfolios.” He understood that when you participate in a great story, you’re participating in an asset that can live far beyond a single production. It can live on well past you. It can create profound generational wealth. I think about that a lot. A kid from Missouri drew a cartoon mouse and built an empire that now carries my Mizzou basketball and football games. That is the power of creative IP. The Lesson for Creators Today Jack Nicholson’s deal offers several lessons for creators working today, especially independent filmmakers, writers, and producers. First, creative contribution has economic value. Actors, writers, directors, editors, and producers all contribute to the success of a project. When their work meaningfully improves the story, it increases the value of the final asset. Second, attaching talent changes everything. Projects gain legitimacy when respected collaborators join them. Investors feel more confident. Audiences pay attention. Momentum builds. This dynamic plays out constantly in the film industry. The right director, writer, or actor can transform how a project is perceived. Third, shared upside creates alignment. When everyone involved in a project contributes to its success, they show up differently. The energy shifts from “this is my job” to “this is our project.” That difference can be enormous. And that principle brings me to something I’m experiencing firsthand. Building a Film the Nicholson Way I’m currently directing a documentary film that I believe has the potential to reach audiences meaningfully. Like many independent projects, it’s being produced on a modest budget. But one of the ways we’re approaching the project is directly inspired by the philosophy behind Nicholson’s deal. Instead of trying to pay everyone large upfront fees, which would be impossible on an independent budget, we’ve structured agreements that combine modest compensation with generous backend participation. In other words, we’re sharing the upside. That approach allowed us to attach talented collaborators who believe in the story and want to help bring it to life at the highest level. The goal is simple: Produce a film that looks like it cost ten or twenty times what it did. That becomes possible when people care deeply about the outcome. When everyone has a stake in the project's success, the creative energy multiplies. The Philosophy Behind STORYSMART ® This idea of shared upside isn’t just a tactic for one film. It’s part of a broader philosophy that guides the work we’re building with STORYSMART ® . Storytelling is fundamentally collaborative. Great stories are rarely created by a single person working alone. They are built by teams of talented people bringing their skills together. When those collaborators share in the story's success, everyone wins. Creators feel valued. Projects attract stronger talent, and the resulting stories become more powerful. Jack Nicholson may not have used the language of “story IP strategy” when he negotiated his Batman deal, but he clearly understood the underlying economics. He recognized that the true value wasn’t just the paycheck for playing the Joker. The real value was the story itself and the franchise it could become. By betting on that story, Nicholson didn’t just play the Joker. He rewrote the rules of creative economics, and more than three decades later, the lesson still holds. When everyone shares the upside, everyone cares more about the outcome. That simple idea may be one of the most powerful tools storytellers have. About the Storytelling for ALL ® Newsletter The Storytelling for ALL ® LinkedIn Newsletter is a biweekly newsletter examining how stories are developed, protected, and brought to life in today’s evolving storytelling economy. Every other week, I explore the creative, ethical, and economic forces shaping books, films, documentaries, and other story work through the lens of development, rights, collaboration, and long-term value. Written primarily for creators and collaborators, the newsletter also serves as a resource for story sources who want to understand how their true stories move from lived experience to finished work and how better structuring early leads to better outcomes later. For deeper studio thinking, tools, and updates, The STORYSMART ® Way is our monthly email newsletter for members of the Storytelling for ALL ® community. About Our STORYSMART ® Perspective We approach storytelling and filmmaking as a long-term, rights-first business rather than a project-by-project creative exercise. Our focus is on understanding how stories create value over time through ownership, disciplined development, and thoughtful risk management. The ideas shared here are intended to contribute to a broader conversation about sustainable, independent media, not to promote specific projects or investment opportunities.
Show More