While Nicolas Cage was fun as Johnny Blaze, Ghost Rider 3 will never happen. Comic book movies were in a different place back in 2007 when the original Ghost Rider was released. The movie was a big budget, PG-13 adventure based around a character who transforms into a demon with a flaming skull, meaning an R-rating probably would have been a better fit. Cage received good reviews for his lead performance but the story, lame villain and terrible CGI led to Ghost Rider being roundly panned.
The next year saw the release of game-changers Iron Man and The Dark Knight, indicating the genre was undergoing a dramatic shift. There were early signs Ghost Rider: Spirit Of Vengeance would be an improvement on the maligned original; Crank co-directors Mark Neveldine and Brian Taylor were at the helm, the film was said to be a soft reboot and the supporting cast including Idris Elba and Christopher Lambert (Highlander). While Ghost Rider: Spirit Of Vengeance was better and contained a couple of fun action scenes, it was still a mediocre comic book movie.
Not only has Cage himself ruled out a return, but the Ghost Rider films themselves also have a weak reputation among fans. An R-rated Ghost Rider 3 will Nic Cage sounds like it could be a blast, but sadly, it feels like the original movie arrived too early, with the PG-13 rating watering down his appeal.