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The producer title is often times given as an incentive/bonus to writers, UPM's, actors, directors, etc. It's an extra paycheck and also gets residuals (a declining paycheck everytime an episode is shown 'first run" and also paid whenever the show is 'packaged" and sold into syndication in the various markets (U.S., European, etc.). Also when a DVD package is released, they all get a piece of the pie.
As you can imagine, it can be extremely lucrative. For example, on "Friends", the principal actors were making $1 million an episode. At 22 episodes per season, that's $22 million a season. When the episode is rerun, the residual is 100% so they get another $22 mill. As it is shown again, packaged, resold, etc. the percentage dwindles until it is 0%.
I know actors who after 10 years of leaving a show, will get an envelope in the mail with 22 checks for, say $15.16.
Other times producer credits are given by a studio to someone who isn't presently "working", but was instrumental in a past hit show and they want to keep that person in their "stable".
Also, when I worked on E.R., the guy who directed the pilot episode Rod Holcomb, only directed 5 more episodes. But, since he directed the pilot he got a piece of every episode of the show that ran for 18 years, over 400 episodes.
Yeah, it's good to be "above the line".
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"Prayer isn't a parachute. It's a compass. It doesn't save you from the storm. It guides you through it." - Bear Grylls
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