Warner Bros. announces 5th 'Matrix' movie is in the works

Warner Bros. Pictures has announced a fifth "Matrix" film is in development.

The studio confirmed in a press release Wednesday that Drew Goddard of "Daredevil," "Cloverfield," "World War Z" and "The Martian" fame will serve as director. Lana Wachowski, the director of the fourth installment, will serve as an executive producer.

Lana and sister Lilly Wachowski both served as directors and writers on the first three "Matrix" films.

In a statement, Warner Bros. Motion Pictures' president of production, Jesse Ehrman, said, "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 [The Wachowskis] began over 25 years ago, and offering a unique perspective based on his own love of the series and characters."

He continued, "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."

In a statement, Goddard added, "It is not hyperbole to say 'The Matrix' films changed both cinema and my life. Lana and Lilly's exquisite artistry inspires me on a daily basis, and I am beyond grateful for the chance to tell stories in their world."

The "Matrix" franchise -- which includes "The Matrix," "The Matrix Reloaded," "The Matrix Revolutions" and "The Matrix Resurrections" -- has earned $1.8 billion globally over the series' lifetime.

There's no word yet on whether franchise stars Keanu Reeves and Carrie-Anne Moss will be part of the forthcoming project.