Amidst WGA and SAG-AFTRA Strikes, Netflix Pulls Out of Dreamy Project After Investing a Whopping $30,000,000 on It

Published 07/19/2023, 11:00 AM EDT

via Imago

Writers and actors have been fighting for their share of justice in Hollywood. The streamers including, Netflix, are not coming to the negotiation table with the WGA and SAG-AFTRA as of now. Amidst this chaotic time in the industry, the American streaming giant pulls the plug on a big dream project after spending a lot of money as a part of the development cost.

A lot of projects saw the effects of the ongoing strike in Hollywood, and Netflix’s upcoming project also fell prey to the same. Netflix was involved in making the live-action adaptation of He-Man and a slew of other popular Mattel toys. The live-action movie, Masters of the Universe, is officially dead reported Variety. The film has already suffered many rejections from various studios. However, while this American streaming giant gave hope to fans, recent news reveals the opposite.

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The budget for the upcoming movie was over $200 million and it was ready to begin filming in February. However, with Netflix losing subscribers and stocks falling down, the executives became concerned about spending a lot of money. The Masters of the Universe producers came up with a revised budget of $180 million as well, but the OTT platform denied it and pulled the plug on the entire project.

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Around $30 million has already been spent on the pre-production of the flick, but now the film is officially dead. While the future of this forthcoming live-action is not certain, this is not the first project that made the streaming service provider concerned.

WGA and SAG-AFTRA strikes have affected many Netflix projects

Before the strike began, many projects were already under production. However, because of the strike, shows like Cobra Kai, Stranger Things, and others have suffered miserably. The Cobra Kai makers even stopped production to protest against the studios.

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Now, this He-Man-based upcoming live-action is also suffering. Notably, the American streamer has been concerned about the loss of its subscribers for a long time now. Because of their changing policies of password sharing and methods, releasing the shows has affected their viewership. Moreover, it has also canceled many fan-favorite shows because of various reasons.

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With the cancelation of Masters of the Universe, it is safe to say the WGA and SAG-AFTRA strikes have disrupted many projects all over Hollywood. What do you think about the OTT platform’s decision to cancel the upcoming live-action flick? Tell us in the comments below.

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Neha Chande

1879 articles

Meet Neha Chande, an entertainment writer at Netflix Junkie, who has written more than 1100 articles. With a Master's degree in English Literature, Neha believes in unbiased journalism. Before delving into her passion for writing and cinema, she taught English and communication skills as a facilitator and lecturer.

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