The 24-year-old actor, who is dating Oscar-winner Jennifer Lawrence, will star alongside James Piddock, reported Deadline.
Piddock would be playing Derek Sommers, the managing director of the record label in the film based on John Niven's 2008 book of the same name.
Hoult will also be next seen in sci-fi film 'Young Ones'.
Piddock, who made his film debut in director Richard Donner's 'Lethal Weapon 2' was most recently working on TV comedy 'Family Tree' alongside co-creator Christopher Guest.
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