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The sequel of the Golden Compass would be called The Subtle Knife. It was programed to be released in 2009. But the first movie didn't match the financial expectations of the studio, so they stressed the release of the second and third movie.

In March 2008, The Golden Compass Producer Deborah Forte expressed optimism that sequels could be made, and said that she intended to see them realized, but the studio decided not to make them. In December 2008, The Independent noted that a risky economic climate may have contributed to the non-production of further films, as "wider film industry is expecting to tighten its belt in 2009"

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