Meryl Streep doubled her asking price for 'The Devil Wears Prada' after betting on its success

Key facts

• Meryl Streep, now 76, was 56 when offered the role of Miranda Priestly in 'The Devil Wears Prada' (2006).
• She read the script, knew it would be a hit, but initially said no to the offer.
• Streep then doubled her asking price, which the producers immediately accepted.
• The film earned two Academy Award nominations, including Best Actress for Streep.
• Streep won a Golden Globe for Best Actress in a Motion Picture – Comedy or Musical for the role.
• The sequel, 'The Devil Wears Prada 2,' opens May 1, with Streep, Anne Hathaway, Emily Blunt, and Stanley Tucci returning.
• Streep is a distant relative of Vogue editor Anna Wintour, on whom Miranda Priestly is based.

A calculated gamble that paid off

Meryl Streep knew the script for 'The Devil Wears Prada' would be a hit. She also knew that the film needed her. So when the offer came, she turned it down — then doubled her asking price. The producers agreed without hesitation. Streep revealed the anecdote in an interview with Jenna Bush Hager on TODAY, aired April 29, alongside co-stars Anne Hathaway, Emily Blunt, and Stanley Tucci. All four return for the sequel, opening May 1. 'I knew it was going to be a hit,' Streep said. 'Script was great. And they called me up and they made an offer, and I said, “No, not going to do it.”'

A lesson in self-worth at 56

Streep framed the negotiation as a turning point in her career. At 56, with more than three decades as one of the world's most acclaimed actresses, she realized she could leverage her indispensability. 'I knew it was going to be a hit, and I wanted to see if I doubled my ask,' she said. 'And they went right away and said sure. And I thought, I’m 50, 60 — it took me this long to understand that I could do that.' She added that she was prepared to walk away: 'I wanted it, but if they didn’t want to do that, I was okay. Because I’m old — I’m 56, I was ready to retire.' Since then, Streep has made more than 30 films and TV shows.

The film's legacy and the sequel's promise

The original 2006 film has become a classic, earning two Academy Award nominations, including Best Actress for Streep. She also won a Golden Globe for Best Actress in a Motion Picture – Comedy or Musical for her portrayal of Miranda Priestly, the icy editor of Runway magazine based on Vogue's Anna Wintour. Stanley Tucci, who returns for the sequel, said: 'I think people are hungry for it. Arguably, it has become a classic film. It endures, and people seem to have not been able to get enough of us. So here we are.' Anne Hathaway noted that the strong screenplay eased the pressure: 'There’s always pressure when you make a movie, but because the screenplay was so amazing, I felt like that actually took a lot of the pressure off. Then it was just back to what we do every time, which is just hang out and try to make a great script better.'

Streep's hardball tactic reveals industry dynamics

Streep's negotiating move underscores the leverage that top-tier talent can wield, especially when a project's success hinges on their participation. Her confidence that the film would be a hit — and that she was essential to it — allowed her to demand more. 'I was sure of it,' Streep said of the movie's potential. 'I was sure it would be a hit. And they needed me, I felt.' This anecdote, reported by Variety, highlights a rare moment of aggressive negotiation from an actress known for her whimsical classiness. It also illustrates the financial stakes involved in casting a star of Streep's caliber.

A distant relative of Anna Wintour adds to the irony

Adding a layer of serendipity to the casting, Streep is actually a distant relative of Anna Wintour, the Vogue editor-in-chief who inspired Miranda Priestly. The connection was not widely known at the time of the original film's release. Streep's portrayal of Priestly earned her critical acclaim and cemented the character as an icon of cinematic fashion and power. The role also netted her a Golden Globe, further burnishing her legacy as one of the most decorated actresses in history.

What comes next for the franchise and its stars

With 'The Devil Wears Prada 2' set to open May 1, the sequel arrives 20 years after the original. The film features cameo appearances, including one by Jenna Bush Hager, who conducted the TODAY interview. Streep, now 76, continues to work prolifically. The sequel reunites her with Hathaway, Blunt, and Tucci, all of whom have expressed enthusiasm for the project. Whether the film will match the original's cultural impact remains to be seen, but early buzz suggests strong audience interest. Streep's revelation about her salary negotiation adds a compelling backstory to the franchise, reminding audiences that even the most celebrated actors sometimes have to fight for their worth.

The bottom line

• Meryl Streep doubled her asking price for 'The Devil Wears Prada' after initially turning down the role.
• She was 56 at the time and considered retiring if the producers did not meet her demand.
• The original film earned two Oscar nominations and a Golden Globe for Streep.
• The sequel opens May 1, with the original cast returning.
• Streep is a distant relative of Anna Wintour, the real-life inspiration for Miranda Priestly.
• The anecdote highlights the leverage top actors can have in negotiations.