Netflix has canceled its live-action movie based on He-Man and the Masters of the Universe. Netflix has canceled the film after spending $30 million in development costs. The movie was set to be directed by brothers Adam and Aaron Nee (The Lost City) and would have starred Kyle Allen (West Side Story, American Horror Story) as He-Man. However, the Netflix project is now dead due to what five individuals claim were budget concerns. The He-Man movie was looking at a budget of $200 million and was set to start filming this past February. However, Netflix saw an enormous stock drop that cost $54 billion in market value, ultimately leading to the He-Man movie’s cancelation.
Netflix Stock Drop Costs Results in Live-Action ‘He-Man’ Movie Cancelation
The live-action He-Man movie isn’t the only casualty of Netflix’s stop drop. The streamer canceled numerous shows as recently as December 2022. These included shows like Resident Evil, Blockbuster, Warrior Nun, The Baby-Sitters Club, and several others. Many thought that Netflix could come out of its slump after the outrageous success of the first season of Wednesday. However, one show could not compensate for a $54 billion loss. While Netflix has seen an enormous boost in value since last year, the casualties from the stock drop couldn’t be avoided. And unfortunately, the live-action He-Man movie is one of Netflix’s casualties.
The movie would have been the second live-action take on He-Man after the 1987 film Masters of the Universe. While that movie was panned by critics and audiences, it is now considered a cult classic. With the improved special effects and filmmaking technology of the current age, Netflix’s He-Man movie could have at least been a visual improvement from the 1987 movie. However, the film is now the latest casualty of Netflix’s stock woes from last year.
