Netflix's 'Beverly Hills Cop 4' Is Actually Happening And Will Film Soon

It's been almost a year-and-a-half since we learned Paramount sold Beverly Hills Cop 4 to Netflix. Eddie Murphy's Axel Foley is still coming back though, and we now have news that things are moving forward with the sequel and it will go into production in California.

According to The Hollywood Reporter, Beverly Hills Cop 4 is one of 23 features set to film soon in the Golden State. According to California's Film and TV Tax Credit Program, the production will bring $78 million in "qualified spending" — money to below-the-line workers and vendors —  to the state over 58 filming days. We don't know for sure whether the fourth movie in the Beverly Hills Cop franchise will actually shoot in Beverly Hills, but THR mentions that San Bernardino was one of the locations listed in the production's application.

Netflix's rights to the Beverly Hills Cop franchise is a one-time deal with an option for a sequel. It's a safe bet Netflix will exercise that option, assuming the fourth movie does well. The deal is another example of the streaming company investing hard in major franchises to build their own brand. It's also another example of older studio companies like Paramount being risk-averse and preferring a guaranteed sum from Netflix rather than risk the box office.

The film was also originally supposed to shoot right after another Eddie Murphy sequel that went straight to streaming, Coming to America 2. The pandemic likely upset those plans, but this latest news confirms that the project is still moving forward.

Beverly Hills Cop 4 isn't the only movie the Film and TV Tax Credit Program mentioned in their latest report. There's Zack Snyder's repurposed Star Wars idea, Rebel Moon, which the state says will generate $83 million in qualified spending over 117 filming days. An untitled Jean-Marc Vallee film from Universal is also expected to gross over $86 million for the state. Other projects include an untitled Netflix project by Jonah Hill and indie films with titles such as F— Identical Twins, Poolman, and Anemone.

Not all of the 23 approved projects are big blockbusters — nine of the 13 indie films will bring in $10 million or less to the state. In total, however, the features are expected to produce $678 million in qualified spending.

That makes the state happy, of course: "We look forward to welcoming this diverse blend of films and filmmakers to the tax credit program," California Film Commission executive director Colleen Bell said in a statement.

The projects are also expected to hire 4,088 in crew, 873 cast members, and 40,621 background actors and stand-ins, something that the California entertainment industry will be happy to hear.