Netflix shares disappointing update on highly anticipated new film

Netflix’s latest decision has left fans disappointed as the streaming has announced it will not proceed with a highly anticipated new movie!

In a surprise move, the Masters of the Universe film reboot has been dropped by streaming giant Netflix with its future in limbo as Mattel seeks a new rights holder.

In 2020, the release date for Masters of the Universe was removed from Sony’s schedule in place of Uncharted. This was at a time Noah Centineo was cast in the role of Prince Adam/He-Man and both Aaron and Adam Nee were attached as directors for the film.

This was following announcements of two animated MOTU series that were in development and eventually were released; Masters of the Universe: Revelation and a CGI revival aimed at younger audiences entitled Masters of the Universe. Both dropped on Netflix in 2021. That same year, a live-action television series of She-Ra was revealed to be in development at DreamWorks Animation in September to be helmed by The Woodsman’s Nicole Kassell.

There have been many attempts to maintain brand recognition of the MOTU franchise be it animation, toys, comics, and other mediums though unfortunately the same cannot be said for the big screen.

Why did Netflix cancel its Masters of the Universe movie?

Insiders close to Variety stated that over $30 million was spent on the development of the I.P. While a spokesperson for Netflix did not comment, a representative for Mattel confirmed the status of Masters of the Universe no longer being at Netflix.

Amid the decline of the streaming giant’s stock despite the insistence of their capability of content expenditures, the Nee Bros. and the producer’s attempts to keep the budget down, and Netflix’s refusal to fork out sums of over $150 million. Apparently, there was never an official green light as budget issues continued.

And whilst the N-Screen platform may be impressed with the filmmaker duo with their rom-com The Lost City starring Sandra Bullock, they would not reach a compromise.

What is going to happen to the Masters of the Universe reboot now?

As it stands, with the WGA and SAG-AFTRA strikes crushing Hollywood, the Nee Bros. and its recent contender to play He-Man potentially moving on to other projects, producers Robbie Brenner of Mattel and Todd Black are pitching to another studio to purchase the rights.

Masters of the Universe will star Kyle Allen as He-Man. The Nee Bros. is directing from a screenplay they co-wrote with Dave Callaham. Todd Black, Jason Blumenthal, Robbie Brenner, and Steve Tisch are producing for Escape Artists in association with Mattel Films. Bill Bannerman and DeVon Franklin are credited as executive producers.

What are your thoughts on Masters of the Universe being removed from Netflix? Which studio do you think should pick up the rights? Do you even want a modern live-action re-imagining of a Masters of the Universe film? Sound off in the comments below!