What is a spec? And should you shoot one?

I thought for this posting I would write about the reasons why any filmmaker, or photographer, would shoot something on “spec”. For those of you who don’t know, shooting something on “spec” means that you shooting something for free (and most likely putting in a lot of your own money) with speculation that it could be sold as an advertisement or equivalent. On the average, the majority of spec shoots don’t get bought or picked up… But its also a great tool to build your reel or portfolio. In my relatively short producing career, I have done countless shoots on spec. With photography, it can be much easier and cheaper- but with film or HD, be prepared to absorb some costs and time. A few years back I produced a Chrysler spec with my producing partner Jeremy McCormick- which was directed by John Thompson. We shot this spec in a downtown LA underground garage (w/ out permission) for a total cost of $213. We pulled lots of favors to make it happen, but the key favor was the Cinealta 900 HD camera. And with this spec, we knew that the odds of selling it would be slim, but we had fun and another video to add to our reels. So let me know what you think….