Cinematographer Says Greta Gerwig’s Narnia Budget Reached $280 Million

The total cost could increase following upcoming reshoots for the project.

In May 2026, insiders reported that The Chronicles of Narnia: The Magician’s Nephew could become the most expensive film in Netflix history. Estimates suggested the production budget would exceed $320 million, which is the same amount spent on the Russo brothers’ The Electric State.

Cinematographer Seamus McGarvey has now provided a more specific figure. Appearing on the About Oscar podcast, he stated that the budget for Narnia is $280 million.

Netflix has not officially disclosed production costs, but if McGarvey’s statement is accurate, Narnia will rank as Netflix’s second most expensive movie behind The Electric State. Martin Scorsese’s The Irishman follows with a $225 million budget, while Red Notice and The Gray Man each cost $200 million.

At the same time, media outlets reported in August that the film was sent back for reshoots following poor test screenings. Consequently, the final cost of Narnia may rise after additional filming concludes.

The film is based on C.S. Lewis’s novel The Magician’s Nephew, which recounts the creation of Narnia and the earliest events in the history of the magical world. David McKenna and Beatrice Campbell star in the leading roles. The cast also features Emma Mackey, Daniel Craig, Carey Mulligan, Ciarán Hinds, and Meryl Streep. Mark Ronson and Andrew Wyatt, who previously collaborated with Gerwig on Barbie, composed the music.

The Chronicles of Narnia: The Magician’s Nephew will open in wide theatrical release on February 12, 2027, and arrive on Netflix on April 2, exactly 49 days after its theatrical debut.