What happens to Matthew Perry's 'Friends' money? Late star was making around $20M a year in residuals from hit sitcom
LOS ANGELES, CALIFORNIA: Matthew Perry will reportedly continue to receive his residual payments from 'Friends' after his tragic death at 54. The upcoming payments will likely be given to the actor's beneficiary or beneficiaries in his absence, per Parade.
As Perry's legacy for his iconic 'Friends' character Chandler Bing will continue to live on after his sudden demise, the actor's residual payments from the syndication and streaming of the hit NBC sitcom will also carry on, the outlet noted.
Perry was pronounced dead on Saturday, October 28, after being found unresponsive in a hot tub at his home in Pacific Palisades, Los Angeles.
Matthew Perry's earnings from 'Friends' residuals
The cast of 'Friends' is reportedly one of the highest-paid groups of actors in the history of television.
As per Parade, each of the main six cast members, including Perry, Jennifer Aniston, Courteney Cox, Lisa Kudrow, Matt LeBlanc, and David Schwimmer, received $1 million per episode in the final seasons of the sitcom and residuals for re-runs.
According to the publication, the show allegedly earns about $1 billion every year in syndication and the main cast members allegedly receive 2% of that sum.
Therefore, the cast allegedly makes an approximate total of $120 million on reruns annually, with each member of the main cast of 'Friends,' including Perry, allegedly making about $20 million every single year, the outlet reported.
Matthew Perry will continue to receive 'Friends' residuals after his death
Perry reportedly received residuals from 'Friends' until his death in October 2023. However, despite his untimely and tragic demise, the actor will continue to receive the residual payments, which will now go to his beneficiary or beneficiaries, as per Parade.
According to the outlet, the SAG-AFTRA union reportedly has a Residuals Estate Department for situations involving the sudden death of an actor.
The publication mentioned that once the department is notified about the death of a union performer, they send paperwork to divert residual payments to the performer's chosen beneficiaries.
Matthew Perry's parents might also be eligible to get his 'Friends' residuals
While it remains unknown at the time of writing if Perry has a will if he does, the actor likely named a beneficiary who would be eligible to receive the payments from his 'Friends' residuals.
As Perry did not get married and does not have any children, it is possible that his parents, John Bennett, and Suzzane Perry, might be one of his beneficiaries.
However, this is only a speculation at the time and it is not known if Perry's parents will be able to receive his residuals from 'Friends' or if the actor has named any beneficiary or beneficiaries at all.