According to Variety, Universal and Peele have reached an agreement that will link him exclusively to the studio for the next five years. Although the specific numbers have not been disclosed, it is assumed the deal is close to nine figures. It also includes incentives for films that duplicate the critical and commercial success of Get Out and Us.
Peele and his partner, Win Rosenfeld, will receive upfront compensation and they've renegotiated the back-end box office percentages for their Monkeypaw films.
Universal Films entertainment group chairman Donna Langle announced the new deal in a statement on Tuesday. Langle explains that the director's production house has earned this agreement because Peele has "established himself as a premier voice and original storyteller with global appeal. He is leading a new generation of filmmakers that have found a way to tap into the cultural zeitgeist with groundbreaking content that resonates with audiences of all backgrounds."
Peele echoed Universal's trust in his vision when he spoke on their partnership. "It would not have been possible to make Get Out and Us without the endless trust and support we received from Donna Langley and the team at Universal," Peele explained. "Their willingness to take risks and their commitment to original content makes them the perfect collaborative partner for Monkeypaw. I couldn’t be more excited for what lies ahead."
Monkeypaw and Universal are currently working on two new films. Like Get Out and Us, Peele will write, direct, and produce. Monkeypaw is also behind the reimagining of the 1992 film Candyman, which Peele will co-write.