Johnny Depp’s IN.2 Sets English-Language ‘Master and Margarita’ Film for 2026 Start

Unveiled at the Red Sea Souk, the project targets a late-2026 shoot with key hires and financing still unannounced.

Overview

Depp will produce through IN.2 and may also star in what is billed as the first English-language adaptation of Bulgakov’s novel.
Producers Svetlana Dali and Grace Loh are attached alongside Stephen Deuters and Stephen Malit.
The team has not named a director or writer, with production planned to begin in late 2026.
Dali and Loh are in a legal dispute with sales agent Luminosity over Michael Lockshin’s Russian-language film, complicating rights and distribution, with that version yet to reach the US and UK.
Festival coverage confirms the surprise reveal in Jeddah, and reporting indicates the Red Sea Fund is not financing the new project.