At long last we have confirmation on casting for Paul Thomas Anderson’s next feature. Back in 2022, it was revealed that his Licorice Pizza follow-up was planning to enter production in summer 2023, but strike-related delays have now moved the shoot to kick off this month.

Deadline now reports that Leonardo DiCaprio, Sean Penn, and Regina Hall will star in the film, which begins production on January 21 in California. Scripted by PTA, not much is known about the project, only that it will be set in the present-day (ruling out those Vineland adaptation rumors) and it will be “the most commercial one that PTA has attempted, with commensurate budget.” Variety specifically reports the budget could be as high as $100 million. Expect more casting announcements soon as it will be a large ensemble cast.

The film also marks the director’s reunion with Warner Bros., after last working with the studio over a decade ago on Inherent Vice. In terms of when we may see a release, this is similar production timing as Phantom Thread, which kicked off a shoot at the start of 2017 and was released by the end of the year, but considering the bigger scope of this feature, we’d expect a 2025 release is more likely.

DiCaprio’s casting also marks a major coup for Paul Thomas Anderson after the actor turned down Boogie Nights to go on to make James Cameron’s Titanic. Check back for more details on casting and the synopsis as they come in.

DiCaprio also recently revealed at the Golden Globes he was preparing for a new role, as seen below.

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