Netflix's live-action He-Man: Homecoming movie aborted, $30 million wasted

According to a recent report by Variety, Netflix's live-action movie "He-Man: Homecoming" has been aborted after spending $30 million on development. The copyright holder, Mattel Toys, is looking for a new buyer.

Earlier, Netflix announced that the live-action movie "Masters of the Universe" will be starred by Kyle Allen and directed by brothers Aaron and Adam Nee. The film began to be prepared in 2007. It was initially produced by Warner Bros., then transferred to Sony Pictures, and finally transferred to Netflix for further development. Netflix invested $30 million in development costs for this. Another insider estimated that the development cost was actually twice that figure, that is, more than $60 million.

According to insiders, Netflix gave up filming the live-action movie of "He-Man: The Cosmic Giant" because of budget issues. Although the cost was cut during the development period, the budget reported by the producer to Netflix was still as high as 180 million US dollars, which made Netflix hesitate. In addition, the recent strike of the screenwriters and actors unions made Netflix determined to cancel the project.

A spokesperson for Mattel Toys also confirmed the matter. Foreign media revealed that they are in contact with Universal Pictures, but sources claim that Universal has declined the cooperation proposal.

He-Man is a familiar cartoon character to Chinese audiences, especially those born in the 1980s. Boys have a deep impression of this cartoon of the same name. He-Man also has a sister named She-Ra. Both of them are princes and princesses on the surface, but when they are in danger, they find a deserted place to transform. After transforming, He-Man and She-Ra have infinite power and specialize in punishing evil and promoting good.