Joaquin Phoenix's Joker was a massive success for Warner Bros back in 2019. What appeared to be a standalone deep-dive into a new adaptation of DC's greatest villain might not be so standalone. Warner Bros’ intriguing character study was such an impressive release that a sequel would be impossible for the studio to turn down. So, there's a Joker 2 in the works.
Warner Bros desperately wants a Joker 2
In a piece by The Hollywood Reporter, it was revealed that Warner Bros is heavily pushing for Joker 2. As part of the studio’s plans to kill of the SnyderVerse, this will further cement the narrative of individual DC stories instead of a cohesive universe.
Reportedly, the upcoming Joker sequel will take place in the same universe as Matt Reeves’ The Batman. However, considering the previous movie is set while Bruce Wayne is a child, the two shouldn't overlap. Unless, if Warner Bros wanted, the two eventually meet in one of the planned Batman sequels.
Presumably, neither of these incarnations of DC's characters will meet. From his appearance in the first film, Phoenix’s Joker doesn't really feel like a villain. Even when placed against Jared Leto’s portrayal, it's hard to imagine that particular Clown Prince of Crime being a match for the Dark Knight.
Is a sequel really necessary?
The original film certainly doesn't feel like a movie that needed a follow-up. However, Warner Bros' alleged rocky financials likely need a movie that is guaranteed to do well. Warner Bros made a huge amount of profit on the first movie; $1.074 billion on a $70 million budget is a massive success. With that in mind, it's no surprise that the studio needs a sequel.