Everyone but Will Smith is taking a recession hit

Everyone but Will Smith is taking a recession hit

A new article by The Los Angeles Times explains how even A-list actors are taking a deep pay cut from their ritzy salaries. 

Published August 6, 2009

wills A new article by The Los Angeles Times explains how even A-list actors are taking a deep pay cut from their ritzy salaries.  Once upon a time, Denzel Washington was paid $20 million per flick, but after re-signing up for Unstoppable, those digits were slashed to an undisclosed number.  Oscar winner Julia Roberts refused to take a paycut for The Proposal so the studio hired Sandra Bullock .  However, Will Smith's paycheck isn't suffering.

For basically everyone except Will Smith, salary quotes have evaporated, simply vanishing into thin air, as have the much-coveted first-dollar gross deals that top actors and filmmakers used to get. As one successful producer put it: "Quotes and first-dollar gross have just flown out the window -- the studios simply won't make those deals anymore," he explained. "It's all about what the role is worth in that particular movie. The studio pays for the lead actor or actress, but after that, well, the talent is just getting grinded. Everyone else is lucky to be working."

Well, if actors are going from 20 to 10 million or 10 to 5 million -- that doesn't sound like too much suffering to me.

Do you think Hollywood should take a pay cut or are the actors already getting paid too much?

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Written by Clay Cane

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