The wildly popular film was nominated for two Emmy Awards, including Best Actress.
The Broadway version will feature original music by Elton John, and a cast directed by Tony Award winner Anna D. Shapiro, who won a 2008 Tony as Best Director for "August: Osage County."
Composer Shania Taub and book writer Paul Rudnick, along with John, have been working on the musical since 2018, and as yet, no opening date or cast has been announced.
According to The Entertainment Cheat Sheet, with John writing the score, audiences should expect a "fast-paced and articulate ballad infused musical."
Streep's Priestly was so iconic, fans are likely hoping the award-winning actress will reprise her film role on Broadway. She won a Golden Globe and was nominated for an Oscar for her film role. "The Devil Wears Prada" was Anne Hathaway's (Andy Sachs) third film after breakout roles in "The Princess Diaries" and "Brokeback Mountain."
The film, based on a novel of the same name, drew favorable reviews and was the 12th highest-grossing film of 2006, earning $300 million against a $41 million budget. The movie resonated in the theater world, with many refusing to do cameos for fear of angering US Vogue editor Anna Wintour, who Priestly was said to be modeled after. Despite that, Heidi Klum, among others appeared as themselves. In addition, Emily Blunt and Stanley Tucci co-starred.