What's Happening?
Meryl Streep, Anne Hathaway, and Emily Blunt have secured significant paydays for their roles in 'The Devil Wears Prada 2.' Streep, reprising her role as Miranda Priestly, received $12.5 million, a figure matched by her co-stars Hathaway and Blunt due
to a 'favored nations' agreement. This deal ensures equal pay among the leading actresses, reflecting the ensemble nature of the film. In addition to their salaries, the actresses are set to receive substantial box office bonuses as the film continues to perform well globally, having already grossed $300 million. These bonuses are contingent on the film reaching certain financial milestones, which it is on track to achieve.
Why It's Important?
The financial arrangements for 'The Devil Wears Prada 2' highlight the evolving dynamics of salary negotiations in Hollywood, particularly regarding gender equity and ensemble casts. The 'favored nations' clause ensures parity among the leading actresses, setting a precedent for future negotiations in the industry. The substantial bonuses tied to box office performance also illustrate the increasing importance of financial incentives in actor contracts. This approach aligns the interests of the actors with the film's success, potentially influencing future contract structures. The film's financial success and the actors' lucrative deals underscore the commercial viability of sequels and established franchises, reinforcing their role as a cornerstone of the film industry.
