Dungeons & Dragons Sequel Written, May Not Film (Finances)

The script for a sequel to the 2023 fantasy adventure “Dungeons & Dragons: Honor Among Thieves” is sitting on a desk, complete and ready to go. But according to individuals with knowledge of the project, that completed screenplay may never make it before the cameras - and the reason comes down to simple arithmetic.

Paramount Pictures and Hasbro’s eOne unit have not greenlit production on the follow-up, despite the first film’s strong critical reception and a loyal fan base. The holdup, sources say, is entirely financial: the cost of reassembling the principal cast and creative team, combined with the realities of the post-pandemic theatrical marketplace, has made the project’s budget too risky for the studio’s current appetite.

The original “Honor Among Thieves” grossed a respectable $208 million worldwide against a reported production budget of $150 million - a figure that ballooned once marketing and distribution were factored in. While the film earned glowing reviews for its charm and comedic tone, it fell short of the kind of blockbuster numbers that typically justify a sequel with a comparable price tag.

A Script That’s Ready, But a Studio That’s Wary

Director duo John Francis Daley and Jonathan Goldstein, who helmed the first installment, had been quietly developing the sequel alongside screenwriter Michael Gilio. The trio turned in a draft that reportedly continues the adventures of the bard Edgin and his ragtag party of thieves. Sources describe the script as “true to the spirit of the original” and “a natural continuation” that would bring back the same blend of humor, heist plotting, and Dungeons & Dragons lore.

But the studio has yet to pull the trigger. “There’s a really good script sitting there,” one insider told USA Film News. “Everyone involved wants to make it. But the question is whether the numbers can be made to work, and right now they can’t.”

The dilemma is not unique to this franchise. Hollywood studios have grown increasingly cautious about mid-budget fantasy and adventure films that depend on theatrical success rather than streaming returns. The first film’s wide release in March 2023 saw a soft opening but sustained decent legs - yet that performance did not create the kind of urgency that typically fast-tracks a sequel.

Cast and Creative Team Remain Under Option

Most of the core cast, including Chris Pine, Michelle Rodriguez, Regé-Jean Page, Justice Smith, and Sophia Lillis, remain attached in principle. Their deals include options for sequels, but those options have expiration windows. The longer the studio delays, the greater the risk that key players’ schedules or contractual availability slip away.

Similarly, Daley and Goldstein have moved on to other projects - both are attached to direct other films - meaning a window for their return may shrink further. The duo has expressed enthusiasm for returning to the Forgotten Realms, but they cannot wait indefinitely.

Hasbro, which oversees the Dungeons & Dragons brand, has publicly indicated support for more film adaptations, viewing the franchise as a long-term asset. But the toy and game giant has also been tightening its own belt, and the partnership with Paramount requires both sides to agree on a budget that makes financial sense for a theatrical release.

The Shadow of Streaming

One possibility being discussed internally, though not confirmed, is a pivot to a direct-to-streaming release on Paramount+. Such a move would lower the risk but also reduce the potential reward - and potentially alienate the theatrical-first expectations of the original film’s audience. No formal discussions have taken place about that route, sources say, but the idea has been floated as a contingency.

The studio declined to comment for this article, and representatives for Hasbro did not respond to inquiries. A spokesperson for the filmmakers also had no comment.

The situation leaves “Honor Among Thieves” in a peculiar limbo: a well-liked film that earned enough goodwill to warrant a sequel, but not enough box-office dollars to secure one. For now, the script remains in a drawer, its fate subject to a calculus that has little to do with dragons or dice rolls, and everything to do with the bottom line.

Source: Variety