On Tuesday, ET confirmed that Cameron Crowe, the film's writer-director, will helm the book for a new musical, based on his Academy Award-winning script. Tony winner Tom Kitt will be responsible for the show's music, while Jeremy Herrin has been enlisted to direct.
The official announcement comes after Crowe took to Twitter on Friday to share a short video of a man playing a song on the piano. The video then panned over to a series of notes on the wall, teasing what looked to be a musical layout of Almost Famous, complete with spots for a speech by Dennis Hope -- the road manager played by Jimmy Fallon in the film -- and a Stillwater sound check.
Finally, the camera panned to a large piece of paper taped to the wall, which read, "Almost Famous." Fans quickly replied, expressing their excitement over the possible project, which comes 18 years after the movie was released.
Crowe's semi-autobiographical 2000 film followed a teenage writer for Rolling Stone, William Miller (Patrick Fugit), in the early 1970s as he covered the fictitious rock band, Stillwater. Starring Billy Crudup, Frances McDormand, Philip Seymour Hoffman and Kate Hudson, Almost Famous bombed at the box office, but received massive critical acclaim and has since garnered a cult following.
The movie was nominated for four Academy Awards, including Best Actress in a Supporting Role nods for Hudson and McDormand, Best Editing and Best Original Screenplay, which it won.
"It holds up,” she said of the beloved film. “I just watched it with Ryder not too long ago. It was really cool to watch that because I hadn’t seen that in so long and it’s still cool. Ryder, he’s 13, so to him it was like, he loved every second of that movie. It’s cool to be a part of a movie like that.”
As for whether she'd ever reprise her role as Penny Lane, she said a sequel "would be fun." "But I wouldn't wanna touch that," she added.