That said, all that has been done so far is the script by Mr. Del Toro himself, but it is still disappointing that we may not see a sequel to the fantastic original… even if it is great just for the giant Monster vs. Mech fights (is that not enough?).
The major reason seems to be a squabble between some studios and their distributors, here namely Legendary and Universal. Pretty much in this case it boils down to whether or not the first was profitable enough to warrant a sequel.
The first performed really well outside the US, grossing a total of $400 million worldwide and being massive in China, where Legendary have become a major player. However, the production costs for such a movie are, as you might imagine being up to its balls in CGI, huge.
The original, which I still think has been heavily influenced by the anime Evangelion, is considered a “bubble movie”. That means that it sits in the bubble between what is profitable, and what could be a serious money maker for the next decade or so.
Hopefully one day they will see the glorious light, and let me watch giant mechs fuck up some Kaiju, but until that day I guess I will just re-watch the original…. *sigh*