What Fans Think My Chemical Romance's New Short Film Really Means

My Chemical Romance have unveiled a short animated film ahead of their final two shows of their multi-night stand at the Hollywood Bowl.

And like everything about the band, My Chemical Romance fans have theories about what happens next and whether there are some sort of hidden messages within the film.

Prelude to The End is a nearly eight-minute animated film that follows a girl named Astrid who appears to be in a mysterious school that is led by some questionable characters. It's dark in the same vein as the presentation for The Black Parade album.

The project is a collaborative effort between My Chemical Romance and visual artist and actor Lauren Tsai. Fellow musicians Phoebe Bridgers and Billie Eilish are among the voice actors, along with Japanese video game producer Hideo Kojima.

WATCH: My Chemical Romance and Lauren Tsai, 'Prelude to The End'

Here is a rundown of some of the more widely shared theories about what My Chemical Romance is up to this time.

Theory: My Chemical Romance Will Release 'The Paper Kingdom' Album

This one comes up nearly any time My Chemical Romance teases anything as fans continue to wait for the band's first new studio album since 2010. Here's why this rumor is in play once again.

It's believed My Chemical Romance recorded an album in 2012 before the entire project was scrapped and the band broke up. The working title of the album was reportedly supposed to be The Paper Kingdom.

Fast forward to 2026, and the short film opens on a sign for a school called the Paper Academy, where the story takes place.

A bonus theory on Reddit tried to connect the "academy" portion of the school's name to The Umbrella Academy, a comic book created by My Chemical Romance's Gerard Way (which was later turned into a Netflix series). This, however, seems unlikely since Way worked on the project separately from the band.

Theory: Tracklisting to a New My Chemical Romance Album is Hidden in Short Film

It's hard not to start thinking about a potential tracklist for a new album when you see numbered phrases pop up on screen.

At the one-minute mark of Prelude to the End, we see a poster on the wall listing "the rules" of the Paper Academy. They are:

1. Don't Get Hurt
2. No Delusions
3. All Trash Is Taken Care Of

If this is indeed a portion of a tracklisting for a potential new MCR album, it is likely NOT going to be the long-awaited release of The Paper Kingdom. None of those song titles were present when a supposed copy of the album leaked online earlier this year.

Some fans on social media believe the three potential titles from "the rules" poster are only the start of the hidden song references in the short film. Additional posters show up later in the video with phrases that could potentially read as song titles.

Theory: My Chemical Romance Are Breaking Up Again

It seems odd to say one video could hint at either a band releasing new music or potentially breaking up. But that just speaks to the level of ambiguity My Chemical Romance weave into the breadcrumbs created for fans.

At around the six-minute mark of Prelude to the End, we see Astrid looking at a note on her wall that reads "an idea never forgets you."

After seeing the video, someone on Reddit dug up a screenshot of a letter Way posted for fans when My Chemical Romance first broke up in 2013. In the letter, Way says:

"My Chemical Romance is done. But it can never die. It is alive in me, in the guys and it is alive inside all of you. I always knew that, and I think you did too.

Because it is not a band- it is an idea."

Some fans have started drawing parallels between the note in the video and Way's mention of "idea" in his 2013 goodbye letter.

"Ugly sobbing right now. Brought me right back to where I was reading Gerard's letter on my laptop in high school," one fan on Reddit wrote in a comment that has more than 300 upvotes. "So emotional and full of love for this band and this community."

Look, there's a chance none of these theories happen, as My Chemical Romance may very well choose to keep their fans guessing. That just seems to be how they operate.

Their shows at the Hollywood Bowl tonight and Saturday should hopefully give us a clearer picture. Tsai confirmed in an Instagram post that Prelude to The End will be played at both shows in Los Angeles.

Keep reading for a look at how we ranked every My Chemical Romance album. Will we finally have to update this after this weekend?