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The Power Rangers movie put up a solid showing at the box office so while a sequel is no guarantee, the possibility is certainly there. If it happens, the director knows who he wants to bring in to face the Rangers. Unsurprisingly, Dean Israelite has his eyes on the same villain that took over the lead bad guy role from Rita Repulsa on the original TV show. To him, it makes sense that the movies follow suit and bring in Lord Zedd. In fact, it makes even more sense for the movies, since the character very nearly showed up in the first film. According to Israelite...
It was probably a good move to focus on simply the one villain for the first film. Comic book movies are often faulted for trying to stuff too many villains into their plots and as Dean Israelite tells ComicBook.com, he made the decision to avoid that, saying the first movie didn't have enough "real estate" to support more bad guys.
While the Power Rangers movie was an all new version of the American kids' show from the 90s, it based itself on the characters of the original Mighty Morphin Power Rangers, including the names of the Rangers and the villains. To that end, it made sense for the movie to focus on Rita Repulsa as the major antagonist, as she was the big bad for the show's first season. In Season 2 Lord Zedd arrives and banishes Rita back to her dumpster prison. Since the movie version saw Rita soundly defeated, it certainly leaves an opportunity for a new villain to step in, and Zedd makes sense as the one to do so.
While Dean Israelite admits that there are no set plans for a Power Rangers sequel as of yet, he's clearly ready to move in this direction if such a thing happens.
The Power Rangers movie ended up grossing $140 million which, while not a massive take considering the film's $100 million budget, certainly would have to be enough for a sequel to be considered. It's also possible that even more people will find the film now, as it hits Blu-Ray today.