![]() ![]() Netflix and filmmakers even considered shooting “Masters of the Universe” and a proposed sequel simultaneously to amortize the expense, they added. One source with knowledge of the budget talks said the final figure included costs spent on development. Producers brought back a proposed $180 million budget to the table and Netflix still balked, never handing the movie an official green light. The Nee brothers, who came in riding high as directors of Sandra Bullock’s rom-com hit “The Lost City,” worked with producers including Todd Black and Mattel’s Robbie Brenner to get the budget down - even as significant pre-production around the film still took place. A source familiar with Netflix said the stock drop was irrelevant to budget issues on “Masters,” noting that its content spend has been flat at $17 billion for two years, despite market fluctuation. However, sources close to “Masters of the Universe” said after that point the streamer refused to shell out more than $150 million to see up-and-comer Allen (“American Horror Story,” “A Haunting in Venice”) pick up He-Man’s sword. In the aftermath of the sell-off, Netflix film head Scott Stuber and chief content officer Bela Bajaria tried to reassure the industry that they still had money to spend amid their Wall Street woes. ![]() Last spring, however, Netflix was confronted with a stunning stock drop that saw the powerful streamer shed $50 billion in value after investors became concerned about the company’s subscriber losses. For the latest film iteration, the budget came in at over $200 million with cameras set to roll this February, sources said. The characters formed a much-loved 1980s animated series, which developed a cross-generational fan base during its syndicated runs. Set on the planet Eternia, “Masters of the Universe” largely focuses on the conflict between He-Man, a blonde muscle god, and his devious nemesis Skeletor. A spokesperson for Mattel confirmed that “Masters of the Universe” is no longer at Netflix, but did not provide any further comment. ![]()
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