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First-look
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a type of contract between a production company and a studio or network, where the former has the first right to pitch a project to the latter before anyone else
What is a "first-look"?
A first-look is an exclusive opportunity or agreement that allows a person, company, or organization the chance to view or consider something, such as a film script, book manuscript, or other creative work, before it is offered to others. In the entertainment industry, a first-look deal typically gives a production company or studio the right to see and potentially purchase or develop a project before it is shown to other potential buyers. This arrangement provides the holder of the first-look rights with an early advantage in acquiring new content.