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Meryl Streep, Ariana Grande, Keegan-Michael Key join the cast of "The Prom" on Netflix

Where can you see Ariana Grande and James Corden acting alongside Keegan-Michael Key, who plays Meryl Streep's love interest? On Netflix, the place where producer Ryan Murphy's wildest dreams are coming true. Murphy signed a five-year deal with the streaming service, and one of the productions he's come up with is "The Prom," according to Deadline.

Murphy, who is the man behind "Glee," "American Horror Story," and "Pose," will direct and produce the film adaptation of the Tony-nominated Broadway musical. "The Prom" is set to be released both on Netflix and in theaters in late 2020. Casting is already underway, and Murphy isn't exactly scraping from the bottom of the barrel for actors.

An all-star cast – including Streep, Corden, Grande, Key, Nicole Kidman, Awkwafina, and Andrew Rannells – has signed on for the film, so far.

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Netflix's film adaptation of "The Prom" already has an all-star cast lined up.  Getty Images

The show follows two Broadway actors who star in a musical about Eleanor Roosevelt that flops so badly their careers are at stake. To revive their stardom, the actors set out to "take up a cause," and improve their public image. They end up traveling to a school in Indiana, where a prom has been canceled because a girl named Emma wanted to take her girlfriend. 

Grande will play Alyssa, the girl Emma ultimately takes to prom, Deadline reports. The starring role of Emma has yet to be filled, but Streep will play Dee Dee Allen and Corden will play Barry Glickman – the two actors who set out on this mission. Awkwafina will play their publicist and Keegan-Michael Key will play the school's principal – and Streep's love interest, according to Deadline.

Kidman and Rannels will play Angie Dickinson and Trent Oliver, respectively – two friends who join the "cause" to rehabilitate the actors' careers.

The script will be written by Bob Martin and Chad Beguelin, who wrote the original book for the Broadway show. The music and lyrics are by Beguelin and Matthew Sklar, and Murphy will work with Scooter Braun, Grande's manager, to produce the soundtrack, according to Deadline.

Deadline reports that all the actors cast were Murphy's first choices and each said yes quickly after seeing the themes of inclusion and tolerance within the musical. CBS News has reached out to Netflix for more information on the production and is awaiting response.