The following contains speculation on a possible Robert Pattinson appearance on The Penguin show.

Matt Reeves is still more than two years away from debuting a sequel to The Batman. Yet, there's hope for fans that Robert Pattinson will show up in The Penguin series on HBO Max. If he does, it'll almost certainly be as Bruce Wayne -- and future projects might have something to do with it.

The Batman ended with the man they mockingly called "Vengeance" stepping into the light as more than a symbol of fear. If The Penguin follows Oswald's journey to fill the criminal power vacuum, it makes sense that Batman and his antics would at least be a part of the story. It would also be tantamount to negligence for the biggest movie star in the Elseworlds universe to not at least cameo in the show that makes it a proper franchise. However, with Batman the kind of character that will most certainly show up once again in movies, the cape and cowl is almost certainly off-the-table.

RELATED: The Flash Features a Vastly Underrated Batman - No, Not Michael Keaton

Why Bruce Wayne Makes More Sense Than Batman

Kinney National Service, Inc. purchased DC Comics (then known as National Periodical Publications) in the late 1960s along with Warner Bros., effectively becoming Warner Communications by 1972. This purchase helped secure the TV and film distribution rights to the vast library of DC characters save for one. The 1960s Batman TV series starring Adam West was produced by 20th Century Fox, before the Warner deal. In 2009, Warner Bros. entered into talks with Fox, the estate of Adam West and other parties for the rights to the characters from the 1960s Batman, the actors' likenesses and the future of the Bat on TV, according to Variety. The result is likely why Gotham aired on the Fox network during its run. Still, Batman never appeared except for in the last shot of the show, something that was justified as a creative decision. The details of the deal have never been disclosed publicly, so speculation abounded the TV rights were tied up like Batman's film rights, which were purchased from DC Comics by Michael Uslan and Benjamin Melniker in 1979.

Fans didn't know if rights issues prevented Warner Bros. from using Batman in TV, or if WB themselves restricted their most marketable character from the small screen. When Disney split up Fox's television assets in their merger, it was assumed the studio acquired any remaining Batman distribution rights in that deal. DC Studios head James Gunn responded to an earlier report saying it's not true, so perhaps they reverted back to WB. Still, the rights seemed to be in limbo before Gotham, it's possible any new deals mirrored the arrangement Marvel Television had with Netflix. After a certain period of time, the rights to the characters and the series themselves reverted to Marvel and Disney. Gotham's series finale debuted in 2019, the same year that the last Marvel Netflix series debuted.

Also, in the past, Warner Bros. or (then) DC FIlms could stop characters from appearing on the small screen. Harley Quinn had a voice-only cameo in an episode of Arrow, never appearing again. Thea Queen actor Willia Holland said, "We had big plans for Harley. But, I guess something came down from DC execs that told us to shut it down," she told Flickering Myth. Limiting Batman to a single episode of Gotham may have truly been a creative-only decision. Perhaps Batman won't appear in Penguin for similar reasons. As much as fans love to see the outfit, the TV show gives Reeves a much-needed opportunity to shift the focus from Batman to Bruce Wayne. Though, he can always skulk around and fight criminals in that motorcycle disguise during the daytime as he does in The Batman. Especially on TV, very little of Batman in the suit goes a very long way.

RELATED: Titans' Cancelation Comes At the Worst Possible Moment

Bruce Wayne in The Penguin Would Allow Batman to Get Mysterious Again

Robert Pattinson as Bruce Wayne in The Batman

Recent adaptations of the Batman story tend to frame the character as an urban legend in Gotham. He's not out there being a hero in the daylight like Superman. In Christopher Nolan's films, Bruce emphatically states that he'd "never" wear the costume when the sun is out. However, The Batman ended with the hero not just out in the sunlight but on TV. Still, Batman's not going to start swinging from lightpoles during Gotham's lunch hour. He's an integral part of the overarching story, but The Penguin can resort to more creative and indirect ways of showing his heroics.

It even makes narrative sense that Batman retreats back into the shadows, just not as far. Meanwhile, Bruce Wayne reemerges from his years of rich-boy solitude to throw some of that fortune at Gotham City's problems. A guest spot from Pattinson would do for The Penguin what Daredevil did for She-Hulk: Attorney at Law. But a TV series gives him the space to do some acting as Bruce Wayne, without having to worry about suiting up, punching people or other various Bat-activities. Comics fans are used to getting exactly what they want, but when it comes to Batman on television, it might be that only Bruce Wayne is invited to HBO.

The Batman is streaming on HBO Max, and The Penguin is currently in production.

This article was updated to remove inaccurate information about Batman's TV distribution rights.