While first announced as a LeBron James and Springhill project in 2018, according to Okayplayer, it took more than four years for the next generation "House Party" movie to be fully produced and released to the public. By 2022, with the movie fully filmed and completed, Warner Bros. planned to skip a theatrical release and make the film an exclusive offering on its HBO Max streaming platform. But right around its scheduled drop date of July 28, 2022, Warner Bros., undergoing a major corporate restructuring that resulted in the company deleting numerous properties from HBO Max, removed "House Party" from its release calendar and shelved it indefinitely.

According to Deadline, Warner Bros. then announced "House Party" would see a theatrical release after all, arriving in theaters on December 9, 2022, and then rescheduling it to January 13, 2023. Warner Bros. and movie theater chains operate on a schedule where the cineplexes get films for an exclusive period of 45 to 90 days, and when that's up, the movie can stream. According to TheWrap, this means "House Party" should hit streaming — likely Warner's HBO Max — sometime between late February 2023 and mid-April 2023.