The Masters of the Universe will not be able to rule after all. Netflix has decided to pull the plug on the planned live-action film that would reboot the Mattel franchise. Interestingly, the streamer still chose to cancel the project despite spending a hefty amount to develop it in the first place.
Back in 2019, it was confirmed that Netflix is working on the Masters of the Universe reboot movie. However, the project was already being developed as early as 2007. Since then, the film has gone through several changes, including Noah Centineo backing out as He-Man and being replaced by Kyle Allen.
So what is happening with the Master of the Universe reboot? According to Variety, it isn't happening at all, at least not at Netflix. The report reveals that the streaming giant has chosen not to continue with the project because of budget concerns.
But why is the reboot already spending so much money although it has yet to begin production? As it turns out, most of the funding goes down to development and keeping hold of talent. The project already lost a slew of directors and the last filmmakers attached to the project were the Nee brothers.
Although this might seem like unfortunate news, Mattel is not giving up hope on He-Man's revival. The company is reportedly looking for a new studio to buy the project and there is a possibility it would get a theatrical release instead of heading straight into streaming.
The Masters of the Universe recently got an animated series Masters of the Universe: Revelation which served as a direct sequel to the Filmation show. The Kevin Smith series got a second season titled Masters of the Universe: Revolution which is still expected to premiere on Netflix later this year or in early 2024.
