'He-Man and the Masters of the Universe' Movie Canceled at Netflix

Masters of the Universe is officially dead at Netflix. Variety reports that the live-action movie based on He-Man and other Mattel toys is canceled. Insiders say that already almost $30 million has been spent on development costs, with more being used to hold on to talent, such as lead Kyle Allen and directing duo Adam and Aaron Nee. Other reports say that total costs for development are twice as much.

While a spokesperson for Mattel did confirm that Masters of the Universe is "no longer at Netflix," no further information was released. This wouldn't be the first time a Masters of the Universe movie had been scrapped. Both Warner Bros. and Sony Pictures have tried to get the film to happen and with directors such as Jon M. Chu and McG. The reasoning for the Netflix axing was allegedly due to budget concerns. Sources also alleged that Netflix didn't want to shell out more than $150 million for Allen.

West Side Story's Kyle Allen was initially announced to lead Masters of the Universe as He-Man in January 2022. In the film, Allen was set to portray an orphan named Adam, who learns about his power after discovering he is a prince who is destined to save a faraway land. He also learns of the importance of saving his home from an evil force. The film was in development for a while at Sony Pictures before moving to Netflix, with Sony holding on to the release rights in China.

Even though a live-action Masters of the Universe won't be happening any time soon, fans can still look forward to the sequel series follow-up to 2021's Masters of the Universe: Revelation, titled Masters of the Universe: Revolution. Deadline confirmed that the series, which will come from Kevin Smith, will serve as a standalone story following the events of Revelation and focus on the He-Man and Skeletor battle. Mark Hamill, William Shatner, Chris Wood, and Melissa Benoist are set to lend their voices, with more cast expected to be announced soon. Smith will return to write. 

Since studios have been trying to get a Masters of the Universe live-action to happen for a while, it's very possible this won't be the end of it, even if Netflix has shelved it. At least fans will still be able to get Masters of the Universe: Revolution sometime in the future, though no estimated premiere date has yet to be announced.