The Matrix 5 still has a chance to move forward, but the project is not yet confirmed. Lilly Wachowski stated that writer-director Drew Goddard is currently handling the series, though his proposals must receive joint approval from the Wachowski sisters.
In a recent interview with KCRW, Lilly stated that she has concluded her creative work on The Matrix franchise. Going forward, her involvement in new projects will be limited to approving or rejecting proposals put forth by Goddard.
Goddard took over the franchise in 2024, with Lana Wachowski serving as executive producer. Goddard has clearly stated that he will not proceed with a new film without the consent of both sisters, so whether The Matrix 5 will officially enter the next phase remains uncertain.
Goddard previously directed The Cabin in the Woods and Bad Times at the El Royale, and contributed to the screenplays for Cloverfield, The Martian, and Project Hail Mary. He also created the Netflix series Daredevil.
The first Matrix film was released in 1999, with Keanu Reeves starring as Neo, who discovers that the real world is controlled by machines while humanity lives in a simulated reality. The fourth installment, The Matrix Resurrections, was released in 2021, co-written and directed by Lana, with Lilly not involved in its production.
Lana is currently involved in the new project as an executive producer, and Lilly retains decision-making power over proposals. Whether The Matrix 5 will officially move forward has not been confirmed; the next step depends on whether Goddard's proposal gains approval from both sisters.