Top billed but so what?!
Meryl Streep has the first poster for Christmas release Into the Woods all to herself and the Witch is always the marquee role in Stephen Sondheim's musical on stage. But Meryl will be campaigned supporting. The news isn't technically "official" but it soon will be so we're playing a little game of switcheroo on the Lead Actress and Supporting Actress Oscar Prediction Charts.
Technically this reversal (at least from our expectations) is probably fine as categorizations go: The Witch is a showy role but it's not a huge one and The Baker's Wife (Emily Blunt) is just as much of a major focal point of the show (winning the lead actress Tony for Joanna Gleason in the first production) and the wife has the clearest arc. So Blunt is our leading contender.
The takeaway, with far less competition (as of yet) in Supporting Actress, Meryl is probably looking at her 19th Oscar nomination. If Emily Blunt doesn't thoroughly own Into the Woods she'll be left out of the very competitive leading lineup which will make it the second time co-starring with Streep where she had a plum role but voters attentions were elsewhere.
And by 'elsewhere' I mean 'where the attention always is': on MERYL STREEP.
Silly Trivia Alert: If nominated this will not only be Meryl's Fourth nomination in the supporting category after The Deer Hunter (1978), Kramer Vs Kramer (1979), and Adaptation (2002) but her Fourth for a role with a singing solo. She sang "Amazing Grace" in Silkwood (1983), "He's Me Pal" in Ironweed (1987), and "You Don't Know Me" and "I'm Checking Out" from Postcards from the Edge (1990). Her voice is so expressive. Can't wait to see how she interprets "Stay With Me" in particular.