In 1999, The Matrix premiered in theaters and wowed audiences across the world. It was followed by two sequels, The Matrix Reloaded and The Matrix Revolutions, in 2002 and 2003, respectively. But it took nearly two decades before the fourth film, The Matrix Resurrections, arrived in 2021 and immediately flopped.

That could have been the franchise’s final chapter, but Warner Bros. has announced that a fifth Matrix film is going forward. To bring everyone up to speed, here’s everything you need to know about The Matrix 5.

For now, we don’t have an answer for that question. Warner Bros. didn’t confirm whether the new film is a direct sequel to the first four movies or if it’s a standalone story. Keanu Reeves and Carrie Anne-Moss’ characters, Neo and Trinity, were both brought back to life in The Matrix Resurrections. However, Laurence Fishburne and Hugo Weaving’s Morpheus and Agent Smith did not return.

Instead, the new Morpheus was a computer program played by Yahya Abdul-Mateen II, while Jonathan Groff portrayed the latest incarnation of Smith. Jada Pinkett Smith also briefly appeared in Resurrections as an aged Niobe. Conceivably, any of those characters or the new ones who were introduced in Resurrections could return, if The Matrix 5 takes place after that film.

Not directly. Lana Wachowski, who directed The Matrix Resurrections, will be a producer on The Matrix 5. Lilly Wachowski has no involvement in The Matrix 5, and also declined to return for Resurrections.

Drew Goddard, the creator of Marvel’s Daredevil series, is set to write and direct The Matrix 5 from an original idea that he pitched to the studio. Goddard has extensive experience in genre television with stints on Buffy the Vampire Slayer, Angel, Alias, and Lost. Theatrically, Goddard has written the scripts for Cloverfield, World War Z, The Martian, The Cabin in the Woods, and Bad Times at the El Royale; Goddard also directed the latter two films.

Via Deadline, Warner Bros. released a statement that explains why the studio picked up Goddard’s pitch for The Matrix 5.

“Drew came to Warner Bros with a new idea that we all believe would be an incredible way to continue the Matrix world, by both honoring what Lana and Lilly began over 25 years ago and offering a unique perspective based on his own love of the series and characters,” said Warner Bros.’ Jesse Ehrman. “The entire team at Warner Bros Discovery is thrilled for Drew to be making this new Matrix film, adding his vision to the cinematic canon the Wachowskis spent a quarter of a century building here at the studio.”

The Matrix 5 does not currently have a release date or even a place on Warner Bros.’s production slate. No cast members have been announced, and it may take at least a year or two, if not longer before production actually begins. In other words, don’t expect to see this sequel in theaters anytime soon.