July 20, 2023, 2:11 pm | Read time: 3 minutes
Netflix originally planned to crown its “He-Man” initiative with a live-action film. However, the streaming service is now handing over the expensive project after more than $30 million has already been invested.
“Masters of the Universe” likely evokes a sense of nostalgia for many. The 1980s animated series has achieved cult status. Streaming giant Netflix has gradually revived the popular franchise in recent years. For instance, the animated series “Masters of the Universe: Revelation,” which ties into the original, was released in 2021. The crowning achievement was supposed to be a live-action adaptation. However, it has now been revealed that the streaming service is dropping the project–after many millions of dollars have already been spent.
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Netflix to Drop “He-Man” Film
Exactly how far the project had progressed at Netflix is unknown. However, it is known that directors and even actors had already been signed for the Netflix “He-Man” film. For example, Kyle Allen had been cast as “He-Man.” The American actor is known from “American Horror Story,” “Rosaline,” and “Space Oddity.”
As reported by the American magazine Variety, Netflix has distanced itself from the project. The reason cited was the skyrocketing costs for the “He-Man” film. Development costs alone have already reached $30 million. The total costs for the film are likely to be significantly higher. However, things are not going particularly well for streaming giant Netflix at the moment. In spring 2022, the company faced declining numbers for the first time. The stock price also fell. Netflix did not start 2023 as strongly as expected either. Since the streaming provider has not commented on its withdrawal from the “He-Man” project, any connections can only be speculated upon.
Behind the “He-Man” film is actually a much larger idea. Toy manufacturer Mattel plans to turn various toys into films. For example, the “Barbie” film by Greta Gerwig, starring Margot Robbie and Ryan Gosling, is part of this strategy. According to consistent reports from several American media outlets, a total of 45 films are in the works.
What’s Next for the “He-Man” Film?
Given the extensive plans Mattel has in the film sector, Netflix’s withdrawal is unlikely to mean the end of the entire film. However, the toy manufacturer now needs to find a new partner. The “He-Man” film has generally been under a bad sign. Efforts for another live-action adaptation have been ongoing since 2007, following the “Masters of the Universe” film with Dolph Lundgren from 1987.