The live-action Masters of the Universe movie that had been in the works at Netflix is apparently no longer moving forward at the streaming platform, Variety reported today.
IGN has reached out to Mattel, the toy company behind the He-Man property, and Netflix for comment.
Mattel, however, is reportedly still trying to find a home for the project – especially since a good amount of money has already been shelled out. According to the Variety report, $30 million has already been spent in development, with the movie nabbing Kyle Allen to play He-Man, The Lost City’s Adam and Aaron Nee to direct, and Shang-Chi and the Legend of the Ten Ring’s David Callaham to write.
In fact, Netflix apparently dropped the project specifically because of budget concerns. Variety reports that all-in development would cost double the $30 million that’s already been spent, raising eyebrows at Netflix.
It’s only the latest blow for the Masters of the Universe live-action movie, which has been in various stages of development across multiple studios since 2007. It was previously set up at Warner Bros. and then Sony Pictures, and also had names like Jon M. Chu and McG attached in the past.
The new movie was set to follow He-Man, also known as Adam, as he “discovers he is a prince destined to be the savior of a faraway land.”
This new take wouldn’t mark the first time He-Man has been seen in live-action, but the last time came all the way back in 1987, with Dolph Lundgren in the lead role. While it was panned by critics, it’s since gained something of a cult following.
The property has had more luck on the animated side at Netflix, however. She-Ra and the Princesses of Power, also based on characters from the property, ran on the streaming platform from 2018 to 2020, while Kevin Smith developed Masters of the Universe: Revelation, a direct sequel to the ’80s animated sequel that released in 2021. Smith announced a follow-up, Masters of the Universe: Revolution, last year.
Alex Stedman is a Senior News Editor with IGN, overseeing entertainment reporting. When she’s not writing or editing, you can find her reading fantasy novels or playing Dungeons & Dragons.
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