Ryan Reynolds working on Boy Band movie

Ryan Reynolds is still working on his 'Boy Band' movie despite taking a break from filming.

The actor has confirmed he's taking a step back from filmmaking after a hectic couple of years, but he's going to continue working on his latest project - a film about an ageing pop group being reunited later in life - and he's hoping to make the film an "absolute bargain" by working within a tight budget.

He told The Hollywood Reporter: "I really want to make 'Boy Band', and I’m still trying to figure out the smartest way to put that together ...

"I’m on a second draft. The first draft was incredible and written by one of my favourite writers, Jesse Andrews. Now I’m on my lonesome.

"There are no dates or anything just yet. I’m not filming anything for at least a year."

He hopes the project for Paramount will reunite him with director Shawn Levy and 'Deadpool and Wolverine' co-star Hugh Jackman, but he doesn't want the cast to be led by big name actors.

Ryan added of 'Boy Band': "This feels like it needs to have an extremely modest budget, and one that wouldn’t be all about going to pay above-the-line actors.

"[We] are open to creative ways to make this movie at an absolute bargain. A lot of members of boy bands - and there are a lot of them - had managers who left them high and dry.

"They experienced levels of fame that would be very difficult for anyone to navigate, let alone an adolescent, when you are farming out your self-worth to an audience of screaming people.

"It creates a kind of arrested cultural development. They’re forever associated with that period of time in their lives. This would be about people in their 40s and 50s trying to get their lives back. I think there is something beautiful about that. The north star for me as a producer is joy. I feel like cynicism is a contracting industry, and doesn’t have a great shelf life."

When asked about his decision to take time off from filming, Ryan insisted he's still working because he's writing 'Boy Band' as well as another project he didn't give details on, adding that he often gets his best ideas when he's "bored".

Ryan previously admitted he's been working on a new movie which will reunite him with Hugh because he's loved working with him over the years.

He told Entertainment Weekly: "We have one we're looking to do soon. I would say that [ours] is like any relationship that is successful and works: It's that two parties are rooting for each other.

"I'm always rooting for Hugh to score and win. I also know the infinite nuance of his heart and his mind and who he is. I can say firsthand that he's a person who's not just worth rooting for, he's somebody who's impossible to not root for."