The Matrix 5 Will Officially Start A New Era, And It'll Make Or Break The Franchise

Published Nov 7, 2026, 10:40 AM EST

Anthony is a news reporter and a guide writer who has covered the entertainment industry for five years. He has covered a wide range of genres, including aviation incidents and international crime, and has a keen eye for details that may slip under the radar.

When he's not writing, Anthony can be found at Brands Hatch race track or at home watching indie horror movies nobody has heard of.

The Matrix is widely regarded as one of the most important sci-fi and action movies of the 90s. Its influence on similar films is hard to overstate. Bullet time wowed audiences at the time, as did its slick, stylish visuals. The cast was also exceptional. Neo, Trinity, and Morpheus became household names, and Hugo Weaving was a great villain as Agent Smith.

The story of The Matrix is also more complicated than many action titles from the 1990s. Movies about AI and dystopian futures certainly existed before, but The Matrix made audiences think, as did its sequels. The Matrix trilogy was a huge success, even if the original is widely cited as the best. The three movies tell a complete story, from Neo becoming The One to the end of the war between humans and machines in The Matrix Revolutions.

The franchise took an almost two-decade hiatus between the trilogy and The Matrix Resurrections in 2021. It's a divisive movie, and while some audiences were happy to see Keanu Reeves and Carrie-Anne Moss reprise their roles, others felt that it failed to live up to what came before. Interestingly, The Matrix Resurrections also struggled at the box office, while the first three movies were huge successes.

The Matrix 5 is reportedly in development despite the fourth movie's performance. Another director is at the helm, with promising credentials and an impressive filmography. Still, the franchise's future could hang in the balance given the fourth movie's colder reception. The fifth movie also marks a significant moment for The Matrix, as it's the first without the Wachowskis' involvement.

The Matrix 5 Is The First Without Either Of The Wachowskis

The Matrix 5 marks a crossroads of sorts for the classic sci-fi action franchise, as its original creators reportedly aren't involved. Both Wachowskis were at the helm for The Matrix Reloaded and Revolutions. Lana Wachowski directed and co-wrote The Matrix Resurrections, which premiered in 2021.

After the original The Matrix trilogy, the Wachowskis also directed two sci-fi epics. Cloud Atlas premiered in 2011, while Jupiter Ascending was released in 2015. Drew Goddard is writing and directing The Matrix 5, and while it's too early to glean much about the project, Goddard is reportedly aiming for a 2029 release. Keanu Reeves has also allegedly expressed enthusiasm for reprising his role as Neo, though casting choices also remain quite secretive.

In September 2026, Lilly Wachowski said in an interview that the new director attached to The Matrix 5 did not want to go ahead without the sibling's blessing. This could mean that the Wachowskis will still have some sway in the upcoming project.

The Matrix 5 Without The Wachowskis Is A Big Risk

The Matrix Resurrections proved divisive among critics and fans, with many saying it didn't hold a candle to the original. Nevertheless, the original 1999 movie was a cultural phenomenon. It was an ambitious project, introducing audiences to 'bullet time.' The fight choreography remains impressive, as do the stylish visuals.

The original movie won four Oscars and garnered praise for its incredible soundtrack, including classics by Rage Against the Machine and Rob Zombie. The 1999 film even influenced fashion to a certain extent, with Reeves making a trench coat and sunglasses ensemble look unreasonably cool.

The Matrix Reloaded and The Matrix Revolutions garnered less unanimous praise, though the highway sequence in Reloaded remains a jaw-dropping spectacle. While the franchise has had its fair share of highs and lows, the Wachowskis are arguably creative geniuses. They created The Matrix and the rich lore surrounding the movies. The original transcends genres. The risk without the Wachowskis is that The Matrix 5 could feel less like a Matrix movie, and more like a generic sci-fi action film.

Why The Matrix 5's New Era Might Work

While there are certainly concerns about a Matrix movie without the Wachowskis, a new director doesn't immediately doom a project to failure. We've seen a great example of this recently, with Zack Cregger's take on Resident Evil. His vision for the franchise is entirely different from that of Paul W.S. Anderson, and it still managed to impress critics, general audiences, and longtime fans.

With this in mind, Drew Goddard's direction could be a good thing for The Matrix. The veteran director boasts a varied filmography, including Cabin in the Woods. Without delving into spoilers, the 2011 movie offers a wild take on the slasher horror genre, with an unforgettable final act. Goddard also co-wrote The Martian. It's an intense sci-fi survival movie starring Matt Damon as an astronaut stranded on Mars, trying to contact mission control and return home.

More recently, Goddard was the screenwriter and executive producer on Project Hail Mary. The movie is a sci-fi epic, starring Ryan Gosling on a mission in space to save the sun. He meets an alien lifeform on the same quest, and their friendship becomes a massive highlight of the story. Goddard has worked on numerous critically acclaimed movies across multiple genres, and that track record could extend to The Matrix 5.

If The Matrix 5 Doesn't Work, The Franchise Is Dead

The Matrix 5 production is arguably in an interesting, and slightly precarious, position. Ultimately, movies need to perform at the box office, and poor performances can put even long-standing franchises in jeopardy. Even beloved franchises don't guarantee audiences will show up. For example, Expen4bles premiered in 2023 and only made $50 million at the box office on a reported $100 million budget. Subsequent movies were far more successful.

Every movie in the original trilogy was an incredible success. The Matrix took $472 million at the box office on a $65 million budget. The Matrix Reloaded took a staggering $738.5 million, though it had a larger budget of $150 million.

These numbers matter because The Matrix Resurrections in 2021 didn't share in that success. The movie reportedly made $160.1 million at the box office with a $190 million budget. Every project is different, but movies typically need to make 2.5 times their budget to be considered a success.

It's worth pointing out that a movie's box office performance isn't necessarily tied to its quality. Event Horizon, for example, is widely considered a sci-fi horror masterpiece, yet it performed poorly. Nevertheless, the previous movie in The Matrix franchise didn't recoup its budget. If The Matrix 5 follows suit, even with Goddard at the helm, it could put the franchise's future in jeopardy, suggesting audiences are no longer interested in the iconic sci-fi action franchise.