In Hollywood, diversity has a slightly different meaning than it might in the "real world." Hollywood generally recognizes a film as "diverse" when it has at least 30% inclusion of women and/or members of minority populations among the cast and crew. When actress Frances McDormand popularized the term "inclusion riders" during her 2018 Oscars speech, she was referencing conditions within actors' contracts that "demand at least 50% diversity not only in casting but also the crew."
According to the powerhouse talent agency CAA, out of almost 100 feature films with budgets exceeding $100 million, there's a massive difference in the worldwide box office average between movies with diverse casts and without – a $120 million difference in favor of diverse films, to be exact. This eye-opening data proves that successful movies with diverse casts aren't the exception to the rule; diversity means bigger box office numbers across the board.
There are a variety of reasons diversely cast films do well at the box office. First, previously untapped talents are finally given an opportunity to share their abilities with the world. Also, movies that employ diverse creative teams include different perspectives and different stories, meaning it's not the same old formulas and business as usual when you sit down to watch a movie. And there's the not-insignificant fact that when folks who belong to marginalized communities see themselves and their lives reflected on the big screen, it benefits everyone. Representation truly does matter.