Star salaries coming down in Hollywood: report
LOS ANGELES (Reuters) – Poor Jim Carrey. His movies have raked in nearly $2 billion at box offices, but now a leading entertainment magazine says the comedian’s asking price of $25 million a film has become “a bit of a gamble.”
In its issue out this week, Entertainment Weekly rates top stars on whether they are worth the money.
Among those whose asking prices have become too high are Carrey, Nicole Kidman, Will Ferrell and Eddie Murphy, the magazine said.
It added that after years of ever-rising star salaries, the prices for top talent are now coming down because the cost of making movies is going up, among other issues. “It’s long overdue,” former Twentieth Century Fox Chairman Bill Mechanic told the magazine.
Entertainment Weekly quoted several studio executives as saying the rising cost of production has led many stars to take large parts of their fees from revenue and profit participation that may never materialize if films flop at box offices.
Carrey, star of hits like “Bruce Almighty,” had been a big beneficiary of the 1990s’ salary run-up during which he saw his paycheck hit the $25 million mark.
However, his recent big-budget movies like “Fun with Dick and Jane” barely topped $100 million in domestic ticket sales, leaving his star tarnished, the magazine said.
Carrey’s not the only one. Kidman is considered a risky bet after the box office failure of “Bewitched” and “The Stepford Wives” among other recent films.
Will Ferrell’s $20 million also made the list of risky bets given recent box office disappointments and Eddie Murphy’s $20 million was considered downright “too pricey.”
But Tom Hanks’ $25 million was thought to be “worth every penny” because he remains “one of the most bankable brand names in the world.” Oscar nominee Jake Gyllenhaal, at $5 million to $7 million a picture, and Rachel McAdams at $3 million to $4 million, were bargains.
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