Waterworld will continue with a sequel series more than 25 years after the original movie famously bombed in theaters. Producer John Davis, who produced the original alongside Charles Gordon, Larry Gordon, and star Kevin Costner, is on board to help develop a new Waterworld TV series with plans to bring back the original characters. Dan Trachtenberg (10 Cloverfield Lane) has also been tapped to direct, though it's unclear who will be writing the series.

"We're going to do the streaming version of that movie, the continuation of that movie," Davis recently told Collider's Jeff Sneider about the WaterWorld TV show. While he didn't specifically mention if Costner or any other actors from Waterworld would return, Sneider indicated that would be the case by explaining that the series is set "20 years later," featuring "all those people, 20 years later."

Davis' producing partner at Davis Entertainment, John Fox, added: "We're not 100% sure on the approach to the show. But definitely, we're in the building stages right now. We're talking to folks, but nobody's locked in yet. Dan's attached, we're breaking the story now and we're talking to a few different writers. And we should have a writer locked in, I would think, over the next couple of weeks."

"Larry Gordon and myself, we're the producers on that movie. And with John, we are all re-imagining it for the streaming version," said Davis, who declined to say where the series would stream but feels confident about the deal. "For now, it's at Universal Television, and we are putting it together. But yes, we think it already has a home."

Released in 1995, Waterworld was directed by Kevin Reynolds and written by Peter Rader and David Twohy. The studio along with the cast and crew had very high hopes for the movie as it was the most expensive movie ever made at the time. Following Kevin Costner as a drifter sailing the Earth in a post-apocalyptic world overtaken by rising waters, the movie also starred Dennis Hopper, Jeanne Tripplehorn, Tina Majorino, and Michael Jeter. Reviews were mixed and Waterworld dramatically underperformed at the box office, and it was only able to recoup its expenses on home video and rental.

As for why Davis would want to revisit Waterworld in light of its disappointing release in 1995, he insists that the movie has only gotten better with age. It would seem that he feels audiences will react the same way when Waterworld continues as a sequel series, hopefully with the original cast involved. If Waterworld was simply ahead of its time, then Davis thinks now would be the perfect opportunity to bring it back.

"The only movie that I went back recently, that we made and rewatched and I was surprised at how well it held up, is Waterworld," Davis told Collider. "For many, many years I didn't really want to see it because I thought the movie didn't work, it wasn't what the script was, it was not as good as the script, it had its production problems. And then I went back and saw it again, and it's like, 'Oh yeah, this movie ages great with time.'"

No home was named for the Waterworld series, but due to Universal Television's involvement, Peacock seems to be a likely destination. If you want to watch the original movie, it's streaming right now on Peacock. This news comes to us from Collider.