Recent developments indicate that Amazon is set to acquire the rights to a well-loved action franchise, marking a significant loss for rival streaming service Netflix. Despite Netflix’s substantial investment of up to $30 million in an attempt to produce a new installment for the franchise, it appears they could not retain control.
A recent report reveals that Amazon MGM Studios is talking seriously with Netflix. The reason is to produce a live-action adaptation of Masters of the Universe. The film would feature Adam and Aaron Nee, who became famous with The Lost City, as a possible writing and directing team. Variety highlights that in July, Netflix abandoned its planned version of the Nee brothers’ film.
Amazon Secures Control of a Popular Franchise Previously Held by Netflix
Netflix’s substantial investment spanned over two years in an effort to launch the project. However, they withdrew when the original budget came to light. It amounted to over $200 million and could not be significantly reduced. Kyle Allen was to star in the film.
It is important to point out that the talks between Amazon and the Nee brothers are tentative at the moment. However, if the project moves forward, they will new deals for script revision and direction. On the other hand, Kyle Allen will continue to star as He-Man in the potential film.
Moreover, while Netflix would have likely opted for a streaming release, Amazon is considering a theatrical release for the film. Mattel and producer Todd Black, who has been involved in the project across various studio affiliations, reportedly aim for a substantial theatrical release.
The primary hurdle facing the film at present revolves around rights issues. Mattel had previously secured the rights to explore Masters of the Universe characters for film adaptations until 2026, with the rights then reverting to DreamWorks Animation. However, NBCUniversal now owes DreamWorks Animation. This acquisition makes them the current rights holder. Both companies must negotiate extending Mattel’s rights to proceed with the film.
Notably, Courtenay Valenti, Amazon’s new head of theatrical film and streaming, brings experience from her previous role as the head of production at Warner Bros. She played a role in the success of this year’s box office hit, Barbie, showcasing her proficiency in handling toy-based properties. Valenti’s involvement suggests a potential strategy to replicate the box office success with Masters of the Universe.
Featured Image Via Amazon / Netflix