What's Happening?
Meryl Streep, reprising her role as Miranda Priestly in 'The Devil Wears Prada 2', has secured a $12.5 million salary, matching her co-stars Anne Hathaway and Emily Blunt. The sequel, directed by David Frankel, has already grossed $300 million globally.
Streep's negotiation included a 'favored nations' clause, ensuring equal pay for Hathaway and Blunt. The film's budget was $100 million, largely allocated to the cast. The original film, released in 2006, grossed $326 million worldwide. Streep's decision to participate in the sequel was influenced by her openness to new ideas for the franchise.
Why It's Important?
The equal pay arrangement highlights ongoing discussions about gender pay equity in Hollywood. Streep's influence in securing equal salaries for her co-stars reflects a shift towards more equitable compensation practices. The film's financial success underscores the enduring appeal of the franchise and the marketability of its leading actors. This development may encourage other productions to adopt similar pay structures, promoting fairness and transparency in the industry. The substantial box office earnings also demonstrate the continued viability of sequels in the entertainment market.
What's Next?
As 'The Devil Wears Prada 2' continues its theatrical run, it is expected to compete with other major releases for box office dominance. The film's success could lead to further sequels or spin-offs, capitalizing on the franchise's popularity. The industry may see increased pressure to address pay disparities, with actors leveraging their influence to negotiate better terms. The film's performance will be closely watched by studios and investors, potentially influencing future production and marketing strategies.
