Exclusive: Netflix Halts Massive Masters Of The Universe Movie Production After Massive Investment!

Netflix has canceled its live-action reboot of Masters of the Universe after years of development. The project, based on Mattel's He-Man toys, had been in the works since 2007 and had passed through various hands and studios. In early 2022, Netflix acquired the project from Sony, with directors Adam and Aaron Nee and writer David Callaham attached. However, according to Variety, Netflix has decided to discontinue their work on the reboot, despite already spending close to $30 million on its development. Mattel has confirmed that the film is no longer in development at Netflix and is looking for a new buyer.

The Troubled History Of The Masters Of The Universe Reboot Explained

Dolph Lundgren as He-Man chained and surrounded by guards

Introduced to the market in 1982, Mattel's line of He-Man action figures was initially developed to seize the opportunity presented by the rising popularity of sword and sorcery themes, which were made famous by properties like Conan the Barbarian. Initially sold with accompanying mini-comics that laid the groundwork for the expanding mythos of the franchise, He-Man quickly became a household name with the release of the animated series "He-Man and the Masters of the Universe" in 1983. Despite its peak popularity, the first live-action movie adaptation released in 1987 failed at the box office and received negative reviews from both critics and audiences.

Since then, there have been numerous unsuccessful attempts to reboot the Masters of the Universe franchise. In the mid-2000s, director John Woo, known for movies like Face/Off, was reportedly involved in a revitalization project. However, no further progress was made after the initial announcements, and it was later revealed that Woo had lost interest in the project. Following this, Warner Bros. took over and planned for Matrix producer Joel Silver to lead the reboot. Unfortunately, disagreements with Sony regarding the movie's approach resulted in further delays and the project being put on hold.

Since then, numerous filmmakers such as Jon M. Chu, McG, and David S Goyer, known for their work on movies like G.I. Joe: Retaliation, Terminator Salvation, and Man of Steel, have been linked to the Masters Of The Universe reboot. It remains uncertain whether Mattel will find a suitable new home for the project, especially considering its lengthy and troubled history, which could make it challenging to secure support. However, the positive reception garnered by Warner Bros.' upcoming Barbie movie could potentially persuade Mattel to reconsider and take another chance on one of their other beloved toy properties.