(Image Source: Universal Pictures)
During a visit to Fuel Fest, a car culture festival held in Pomona, California, this past June, Vin Diesel stated that Universal Pictures hoped "Fast 11" could meet an April 2027 release date. He also told Universal that for production to begin, three conditions must be met: filming must return to Los Angeles, the story must revert to street racing, and "Brian O'Conner" must return. However, hitting that target date now appears challenging.
This is because The Wall Street Journal (WSJ) recently reported that its sources indicate internal discussions at Universal regarding the future direction of the "Fast & Furious" franchise are vastly different from Diesel's declarations. Furthermore, "Fast 11" has yet to finalize its script, officially set a release date, or secure returning actors' contracts, leaving everything up in the air.
(Image Source: Universal Pictures)
The Wall Street Journal also mentioned that Universal is even uncertain whether to proceed with "Fast 11" unless they can find a more cost-effective way to produce it. Universal's dilemma stems from the series' continuously rising costs, particularly with "Fast X," which saw its production budget soar to a franchise-high of $340 million due to the COVID-19 pandemic. Despite this, its global box office revenue declined, earning just over $700 million. After deducting marketing costs exceeding $100 million and substantial theatrical splits, Universal's actual profit significantly diminished.
Reportedly, Universal executives have informed producers that they will not greenlight "Fast 11" unless its budget can be reduced to around $200 million. However, the latest completed script draft currently estimates a production cost of approximately $250 million, meaning they still need to cut an additional $50 million to meet the production standard.
(Image Source: Universal Pictures)
Producers are now looking to reduce costs by minimizing scenes shot across multiple countries and cutting down on certain actors' screen time. Regarding the latter, as the series' cast has grown increasingly large with more A-list stars, salary expenditures have naturally become more substantial; Diesel alone earns $25 million per installment. The Wall Street Journal's sources also stated that actors' agents no longer expect Universal to offer pay raises.
Additionally, The Wall Street Journal's report concluded by mentioning that Universal also plans to produce other "Fast & Furious" spin-offs with lower budgets, such as live-action series or standalone films for supporting characters. Universal's current goal is to use less money to spark interest in "Fast & Furious" among a new generation of audiences, rather than continuously relying on the declining nostalgia of the franchise's existing fanbase.