While not much is known about the movie’s plot or the roles that the three actors play, Variety reports that it's set in New York and follows a "high-end matchmaker who gets involved with a wealthy man".
It's not yet clear who's playing who, though.
For Materialists, Song will reunite with independent distributor A24, the company behind Past Lives, as well as hits like Everything Everywhere All at Once and Midsommar. It's also best known for TV shows like Euphoria and Beef.
It is thought that production on Materialists will begin in May, and the film could launch at the European Film Market in Berlin.
Past Lives, starring Greta Lee and Teo Woo, has made more than $20 million at the global box office and received nominations for Best Picture and Best Original Screenplay at next month’s Academy Awards.
Song spoke to Deadline about the film’s Oscar success, sharing: "It’s just so amazing. It’s such a great honour, and on the first movie, I think that’s really the coolest thing.
"It feels so f**king cool and amazing, and I just genuinely am so f**king grateful for every single person… who’s ever come across being part of this movie, anybody who’s even talked to me about this movie."
Meanwhile, there is a chance that Pascal might join co-stars Evans and Johnson in the Marvel Cinematic Universe, as it was reported in November that he was being eyed to play Mr. Fantastic (aka scientist Reed Richards) in the upcoming Fantastic Four film.
Past Lives will be available on Netflix in the UK and Ireland on February 15.
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