The question was about movie scripts and children stories. Not about paragraphs.
Sure it works ok for paragraphs(even then it fails many times) but the moment you cross the 2000 token limit, it does not work.
When GPT3 was first released we did a lot of experiments on summarisation. We discussed a lot in the OpenAI slack. But no one could come up with a right prompt for summarisation.
Yes, it works for toy paragraphs and is fun to show off. But I wouldn't build a summarisation startup on top of GPT3.
Yet.