A "derivative" is defined by HSX as:
A Hollywood Derivative is a short-term investment security based around a specific entertainment event, such as a film's opening weekend, award ceremonies, or TV shows. They take the form of either options or warrants.
So, a derivative is based around a movie's opening, a TV show, or something very specific for time frame.
A movie stock can be purchased and held for a LONG time...if you buy a movie stock "Star Wars 10" then you could actually hold that security for 5 years (as example).
The derivative will only be for a shorter, specific time....like a movies opening, or a TV show (American Idol, for example)
...Hope that helps.