Meryl Streep is one of the most decorated film stars in Hollywood, with an impressive career now spanning almost five decades, but it took producers knocking on her door to star in The Devil Wears Prada for her to truly realise her worth.

During an interview while on the promo trail for the film’s highly-anticipated sequel, the three-time Academy Award winner revealed the role of Miranda Priestly was one she almost rejected.

Speaking to Today, together with her The Devil Wears Prada 2 co-stars Anne Hathaway, Emily Blunt and Stanley Tucci, the 76-year-old said she played hard ball when she was offered the role.

“I knew it was going to be a hit. I read the script, the script was great. They called me up, and they made an offer, and I said ‘No. I’m not going to do it,’” she told the stunned host.

“I wanted to see if I doubled my ask, and they went right away and said ‘Sure.’”

The amount she was offered was reportedly $US2 million ($A2.8 million) and calling their bluff bumped it right up to an impressive $US4 million ($A5.6 million) – a power move that Streep confessed had taken her decades of success in Hollywood to make.

“I’m 56 years old – it took me this long to understand that I could do that! I was sure of it. I was sure it would be a hit. And they needed me, I felt,” she added.

“And I wanted it, but if they didn’t want to do that, I was okay. Because I’m old – I’m 56, I was ready to retire.”

Surprisingly, the comment about the film “needing” her didn’t offend any of her co-stars – who all seemed to nod and agree with her bold statement.

Streep isn’t the only star of the sequel who has revealed that they almost didn’t take a role in the famous flick.

Colin From Accounts star Patrick Brammall, who stars as Andy’s (Hathaway) new love interest in the follow-up film, revealed this week that he initially turned down the opportunity to audition for the role, but landed the gig anyway.

“They asked for self tape. So you set up your phone, or if you’ve got something slightly fancier … then you set up your lighting, and you try and get it all right. You spend half a day trying to get this thing right. You send off the tape, and then you never hear back. I mean, 99 per cent of the time you hear nothing. It’s not like people call and go ‘great tape, but we’re going a different way’. You just hear nothing,” he shared on air on Nova 96.9’s Ricki-Lee & Tim.

“I don’t know how many guys had to fall over for me to Stephen Bradbury my way into this film,” he joked.

“Several other guys died or something and they called me and offered it to me straight up.”