There's a fifth Matrix movie on the way

(CNN) — Does anyone want a red or blue pill?

The popular “Matrix” movie franchise will be expanded with an upcoming fifth installment. The film's original co-writer and co-director Lana Wachowski will serve as executive producer.

According to a press release from the film studio Warner Bros. Motion Picture Group released on Wednesday, Oscar-nominated screenwriter Drew Goddard will write and direct the film alongside his producing partner Sarah Esberg. (Warner Bros. Motion Picture Group is part of the same parent company as CNN, Warner Bros. Discovery.)

Jesse Ehrman, president of production at Warner Bros., said: Motion Pictures, in a statement on Wednesday, said Goddard “came to Warner Bros. with a new idea that we all thought would be a great way to continue the Matrix universe, honoring what Lana and Lily (Wachowski) started over 25 years ago, bringing a unique perspective based on For her love of the series and the characters.”

Plot and casting details are yet to be revealed. It is also unknown whether “Matrix” star Keanu Reeves will return as his distinctive character Neo.

A representative for Reeves did not respond to CNN's request for comment on the new project.

Goddard made his directorial debut with the acclaimed horror film “The Cabin in the Woods” in 2011, and went on to write and produce “The Martian” in 2015. In the process, he received an Academy Award nomination for Best Adapted Screenplay.

Released in 1999, The Matrix stars Reeves, Laurence Fishburne, Hugo Weaving, and Carrie-Anne Moss. The dystopian sci-fi film features Neo (Reeves), a computer hacker who is summoned to join a cyber intelligence rebellion after discovering that humanity is trapped within a simulated reality known as the Matrix.

The first film of the now classic film grossed over $467 million at the time and became one of the most profitable releases of the year. It won four Oscars and produced three series, including “The Matrix Reloaded” and “The Matrix Revolutions” in 2003, and “The Matrix Resurrections” in 2021.

Over the course of 25 years, the film has grossed nearly $2 billion worldwide, according to the film studio.