Netflix Pulls The Plug on ‘Masters Of The Universe’ Film After $30 Million Investment

A live-action movie based on the popular ‘Masters of the Universe’ toys has been canceled by Netflix. The streaming giant had already invested close to $30 million in development costs for the film, which was set to feature iconic characters from the He-Man franchise created by Barbie maker Mattel. However, due to budget concerns, Netflix has decided to abandon the project.

Mattel Confirms the Cancellation, Netflix Declines to Comment

A spokesperson for Mattel confirmed to Variety that the ‘Masters of the Universe’ film is no longer in production at Netflix. However, no further details or comments were provided. Netflix, too, declined to comment on the matter. The journey of this project has been tumultuous, with discussions dating back to 2007 involving studios Warner Bros. and Sony Pictures.

Budget Concerns Lead to the Film’s Demise

According to insiders familiar with the situation, Netflix dropped the film due to budget concerns. The movie was intended to be set on the planet Eternia, focusing on the conflict between He-Man and his arch-nemesis Skeletor. The projected budget for the film exceeded $200 million, with plans for filming to commence in February. However, Netflix’s stock drop last spring, which resulted in a loss of $50 billion in value, contributed to the shelving of the film.

The Nee Brothers Lined Up to Direct

The Nee brothers were reportedly set to direct the ‘Masters of the Universe’ film. To reduce expenses, Netflix and the filmmakers even considered shooting the movie and a proposed sequel simultaneously. However, despite these efforts, the project could not overcome the budgetary obstacles.

Connect With Debonair Magazine On Social Media [ Facebook | Instagram | Twitter | LinkedIn ] To Get Real-Time Updates On The Market.