IT Chapter 3 Rumors Heat Up: Bill Skarsgård May Return as Pennywise, Focus on Richie Tozier
A third film in the IT franchise is reportedly in early development at Warner Bros. and New Line Cinema, with fresh rumors suggesting Bill Skarsgård could reprise his iconic role as Pennywise the Dancing Clown and Andy Muschietti might return to direct. The potential project has sparked intense excitement among horror fans, as it would mark the first new cinematic chapter in the Stephen King adaptation saga since IT Chapter Two in 2019.
The rumors gained traction in early March 2026, fueled by posts across social media platforms and entertainment news aggregators. Multiple sources claim studio executives are exploring a standalone story set within the IT universe, rather than a direct continuation or strict adaptation of additional material from King’s 1986 novel. Instead of revisiting the full Losers’ Club or the main Derry timeline, early speculation points to a narrative centered on Richie Tozier, one of the most beloved and fan-favorite characters from the original films.
Richie, portrayed by Finn Wolfhard as the young version and Bill Hader as the adult, was a standout in both IT (2017) and IT Chapter Two (2019). His sharp wit, hidden insecurities, unrequited feelings for Eddie Kaspbrak, and comedic yet tragic arc made him a focal point for many viewers. The rumored story would reportedly delve into Richie’s early years as a struggling stand-up comedian, exploring his life before returning to Derry as an adult. This prequel-style approach could examine how his childhood encounters with Pennywise shaped his adult personality, fears, and career path, offering fresh ground while staying connected to the established canon.
Bill Skarsgård’s potential return as Pennywise remains the most tantalizing element. The Swedish actor’s portrayal of the ancient, shape-shifting entity became one of the defining horror performances of the 2010s, blending childlike menace with grotesque physicality and psychological terror. Skarsgård has expressed openness to reprising the role in interviews over the years, and his involvement in the HBO prequel series It: Welcome to Derry (which premiered in 2025) has kept him tied to the franchise. If he returns, the film could feature Pennywise in a more limited capacity—perhaps as a recurring nightmare or spectral presence haunting Richie’s past—rather than the central antagonist of the previous films.
Andy Muschietti, who directed both IT chapters, is also rumored to be in discussions to helm the project. His work on the earlier films earned praise for faithfully capturing King’s blend of coming-of-age drama and cosmic horror, while delivering standout practical effects and emotional depth. Muschietti’s visual style—dark, atmospheric cinematography, effective jump scares, and strong character work—would likely carry over, ensuring continuity with the established tone.
The success of It: Welcome to Derry appears to have played a key role in sparking renewed interest. The HBO series, set 27 years before the events of the main films, expanded the mythology of Derry and Pennywise while receiving solid reviews and strong viewership. Its performance reportedly encouraged Warner Bros. and New Line to consider further cinematic expansions. Some reports even speculate about minor crossovers, such as a CGI cameo from Tim Curry’s 1990 miniseries version of Pennywise, though nothing has been confirmed.
The IT franchise has proven enduringly profitable and culturally resonant. The 2017 film grossed over $700 million worldwide on a modest budget, while IT Chapter Two earned more than $473 million despite mixed reviews. Together, the two films solidified Pennywise as a modern horror icon and demonstrated strong audience appetite for Stephen King adaptations that balance nostalgia, scares, and character drama.
A Richie-focused story would offer several advantages. It allows for a fresh narrative without retreading the Losers’ Club’s final battle against It. Finn Wolfhard, now in his late teens/early twenties, could seamlessly reprise young Richie, while Bill Hader could appear in flashbacks or framing sequences as adult Richie reflecting on his past. This structure would provide continuity for fans while introducing new horror elements, perhaps exploring how Pennywise’s influence lingers in subtle ways throughout Richie’s life.
No official greenlight, script, or production timeline has been announced. The rumors remain unconfirmed by Warner Bros., New Line Cinema, or key creatives. However, the early buzz reflects the franchise’s lasting appeal and the desire for more stories set in Derry’s haunted history.
If IT Chapter 3 (or whatever title it eventually receives) moves forward with Skarsgård and Muschietti attached, it would reunite the creative forces behind the most successful cinematic adaptations of King’s novel to date. For now, fans are left speculating, rewatching the original films, and hoping the clown returns to haunt the big screen once more.
