AceShowbiz - The The Meg franchise, centered on Jason Statham's character Jonas battling ancient megalodons, launched in 2018 with an adaptation of Steve Alten's 1997 novel Meg: A Novel of Deep Terror. Directed by Jon Turteltaub, the original film was a major success, grossing $529 million worldwide on a budget reported to be around $175 million.

The franchise continued with 2023’s The Meg 2: The Trench, directed by Ben Wheatley. This sequel earned $398.5 million globally against a smaller budget of approximately $140 million, bringing the series’ total box office to nearly $1 billion. Despite these impressive numbers, the status of a third installment remains unclear, as no official green light for The Meg 3 has been announced.

Recently, The Direct interviewed Ben Wheatley while he was promoting his new film Normal at SXSW. The discussion turned toward The Meg franchise, following his 2023 remarks about potential future projects. Wheatley expressed uncertainty about a follow-up, stating, "I don't know" if there is a sequel in the works. He added, "I'm sure the Meg itself, it's out there swimming. There's a massive, dark shadow in the sea. But I don't know what's going on [with a third movie]." He also shared a playful idea for a potential third film, imagining the Meg being researched for military purposes and eventually getting legs to walk on land.

Given that the first two movies were directed by different filmmakers, it is possible that any future The Meg sequel could proceed without Wheatley's involvement. Producers might be cautious about rushing The Meg 3 due to the franchise’s declining box office returns. While The Meg 2: The Trench performed respectably, it did not match the financial success of the original.

Industry standards suggest that a movie must generally earn about two and a half times its production budget to break even when factoring in marketing and distribution costs. With a budget near $140 million, The Meg 2 needed to reach roughly $350 million to break even, and it exceeded that by $50 million. It ranked as the 19th highest-grossing film worldwide in 2023, outgrossing notable titles like Indiana Jones and the Dial of Destiny ($384 million), The Hunger Games: The Ballad of Songbirds & Snakes ($347.6 million), Five Nights at Freddy’s ($291.5 million), Creed III ($276.1 million), and Taylor Swift: The Eras Tour ($261.6 million).

However, if The Meg 3 were to be produced with a similar budget and experienced the same percentage drop in earnings as the second film did from the first, it could potentially gross around $300 million. This would fall short of the approximate break-even point, risking financial loss. Reducing the budget significantly to offset this risk appears unlikely given the high costs associated with creating the prehistoric shark effects that are central to the franchise.

To avoid this scenario, producers might be intentionally spacing out the release schedule, allowing more time to build anticipation and prevent another decline in box office performance. This strategy could mean waiting at least another three years before a third movie reaches theaters. Another factor influencing the delay could be the hope for a resurgence in interest once the original film becomes available on a new streaming platform. Currently, while The Meg 2 is accessible on HBO Max in the United States, the first movie is not available on any free or subscription streaming service.

The The Meg franchise was created by Steve Alten, Jon Hoeber, Erich Hoeber, and Dean Georgaris. Its principal cast includes Jason Statham, Li Bingbing, Cliff Curtis, Rainn Wilson, Ruby Rose, Winston Chao, Page Kennedy, Masi Oka, Shuya Sophia Cai, and Wu Jing. The story follows characters such as Jonas Taylor and Dr. Suyin Zhang as they confront the terrifying prehistoric sharks.

As of now, fans and industry watchers await official announcements regarding the future of the franchise. The combination of solid but diminishing box office returns and high production costs complicates the prospects for a third installment. The franchise’s next steps may depend heavily on streaming success and strategic timing to rekindle audience enthusiasm for the monstrous underwater battles that define The Meg.