ⓒCourtesy of Warner Brothers

Warner Bros. reportedly is reportedly preparing to move forward on a “Barbie” sequel, with time reportedly growing short. The Greta Gerwig-directed film opened in 2023 and grossed $1.5 billion worldwide, earning rave reviews, an Oscar nomination for Best Picture, and becoming a huge pop culture event.

So why haven’t they pushed the sequel forward? Famously, Gerwig and stars Margot Robbie and Ryan Gosling were not contractually obligated to return for a sequel.

Consequently, negotiations of potentially even more costly deals are required. In 2024, Gerwig also stated she didn’t have any story concepts for a sequel.

The New York Times reports that time is running short for Warners, with deals with the trio needing to be finalized by December. If that doesn’t happen, the rights to the property will revert to Mattel.

The paper notes that Warners has actually been in talks with Gerwig and Gosling for months, though CEO David Zaslav hasn’t given final approval, reportedly because he thinks the lucrative offers, which include a percentage of the film’s box office, are unreasonably high.

It was also disclosed that Gerwig, along with her writing partner and husband Noah Baumbach, has a story they intend to tell in the sequel and are prepared to begin writing it – although they are not sharing this idea with Warner Bros. They won’t begin writing until the transaction is completed.

If we make it to December without a pact, Mattel would need to withdraw from the IP related to Warner Bros. And essentially reboot everything from the beginning. Elements from the original story or talent won’t be included. If an agreement is made, the film is still probably at least 2 to 3 years from release.