Colin Farrell delivered a critically acclaimed performance in the titular role of DC Studios and HBO's series The Penguin. However, the actor is not even cautiously optimistic about the prospect of its makers renewing the series for a second season. According to Farrell, the makers conceived The Penguin as just a limited series, but its success has triggered much speculation about a potential second coming. Speaking to ComicBook, Farrell said that those close to the project told him that The Penguin season 2 is not likely. He went to the extent of saying that he "would bet against" it, although "not by much".

That said, Farrell admitted that the makers are considering storylines that are likely to justify another chapter in the series. He also confirmed that his role as Oswald “Oz” Cobb has a direct connection with Matt Reeves' upcoming film The Batman Part II. "It conveniently worked that the death at the end of The Batman and the devastation within Gotham opened up a power vacuum that then Oz could try and capitalise on," Farrell explained.

"That was perfect for the parallel eight hours that we had. And then The Batman Part II will pick up, whatever, a few weeks after the show ended," the actor added.