Dungeons & Dragons: Honor Among Thieves 2 might never get made
At San Diego Comic-Con, director Jonathan Goldstein revealed that a script for a sequel to 2023's Dungeons & Dragons: Honor Among Thieves has already been written, but he is uncertain whether the film will ever actually be made. Goldstein, who co-wrote and directed the original with John Francis Daley, said the decision ultimately rests with financial considerations at studios such as Paramount Pictures, given the high cost of producing such films. This matters to fans because the first instalment was well-received creatively but underperformed commercially, leaving its franchise potential in limbo.
Speaking to Screen Rant while promoting his new Apple TV film Mayday, Goldstein confirmed he and Daley were commissioned to write the follow-up and are enthusiastic about it, praising the returning cast and the story they developed. However, he stopped short of confirming a green light, citing the expense of blockbuster production. Honor Among Thieves grossed $208.2 million against a reported $150 million budget, a modest result attributed partly to poor timing — it was released shortly before The Super Mario Bros. Movie and several months ahead of Baldur's Gate 3, which later boosted mainstream interest in Dungeons & Dragons.
In short
- A Honor Among Thieves sequel script exists but may never be produced
- Director cites financial concerns at Paramount as the main obstacle
- Original film's box office underperformance blamed partly on release timing
Steelman: both sides, in good faith
The strongest fair case each way — we don't pick a winner.
The case for
The first film's underperformance was largely a product of unfortunate timing and market saturation, not inferior quality. Its critical success and growing fan enthusiasm, combined with Dungeons & Dragons' significantly heightened cultural relevance since Baldur's Gate 3's release, suggest substantially better prospects for a sequel. With a completed script and an enthusiastic returning cast, production could capitalise on lessons learned and more favourable market conditions, whilst the first film's $208.2 million gross still represented profitability when properly calculated.
The case against
Studios must exercise fiscal discipline with expensive productions, and the first film's commercial underperformance cannot be overlooked. A $150+ million film that merely matched or slightly exceeded its production budget leaves virtually no margin for marketing, currency fluctuations, and distribution costs—a razor-thin return that fails to justify another major investment. When capital is limited, studios have a responsibility to direct resources toward franchises with clearer commercial prospects and proven profitability rather than bankrolling sequels to modestly performing films, regardless of critical acclaim.
Explained simply
Dungeons & Dragons: Honor Among Thieves is a 2023 film based on the tabletop role-playing game. It received good reviews but disappointed at the box office, earning $208 million against a $150 million budget.
The film's modest financial performance left its franchise prospects uncertain. Its May 2023 release proved awkwardly timed, coming shortly before The Super Mario Bros. Movie and months ahead of Baldur's Gate 3, a video game that would later ignite mainstream interest in Dungeons & Dragons.
Big-budget fantasy films require substantial investment from studios like Paramount Pictures. Studios carefully evaluate whether a sequel's expected earnings justify its expensive production costs.