How Hollywood Reports Will Smith’s First Look Deal but Spins Meghan and Harry’s as a ‘Downgrade’

Will Smith has secured a new first-look deal with Paramount Pictures, one that focuses on franchise-driven theatrical films. Trade outlets like The Hollywood Reporter and Variety framed the news as a win for Smith, describing it as a fresh chapter in his long career.

Before Meghan and Harry’s new arrangement, major outlets claimed Netflix had dropped them. Then Netflix announced a first-look deal, yet reporters quickly branded it a ‘downgrade’ instead of reporting it accurately, even though it matched the same type of industry contract. This shift in tone shows how media framing shapes public perception.

How Hollywood Treats First Look Deals

First-look deals are common in the entertainment industry. They give studios early access to projects while allowing creators to shop elsewhere if a project is passed over. Barack and Michelle Obama, Tyler Perry, and Phoebe Waller-Bridge have all struck similar arrangements with Netflix or other platforms. In each case, trade coverage described the deals as smart, forward-looking moves.

Will Smith’s Paramount deal fits the same mold. Reports highlighted his production company Westbrook’s plans for global theatrical releases, including two projects already in development. His star power and box office history were credited as strengths that made the partnership valuable.

How Meghan and Harry Were Portrayed

When Meghan and Harry signed a first-look deal with Netflix, the reaction was not the same. The Hollywood Reporter published headlines calling the deal a “downgrade” and emphasized the loss of exclusivity, even though exclusivity contracts have ended for many high-profile creators.

The reality is simple: Meghan and Harry moved from an overall deal to a first-look deal, a step that many successful figures in entertainment have also taken.

Why the Narrative Matters

The way these deals are framed matters. For Meghan and Harry, a first-look agreement secures millions in investment and ensures an ongoing partnership with one of the world’s biggest platforms. It also aligns them with influential figures like Will Smith and the Obamas, who have struck similar deals. Yet outlets such as The Hollywood Reporter chose to present the Sussexes’ contract as a setback, in stark contrast to the celebratory coverage given to others.

This article is not a critique of Will Smith—we celebrate his success. Rather, it highlights how media narratives shift depending on who signs the deal. When it comes to Meghan and Harry, objectivity is too often abandoned, not only in Britain but across global entertainment reporting.