Phillips previously revealed that Phoenix’s Joker – named Arthur – will be noticeably different to the comic book version fans are familiar with.
The lowest budget recent DC movie is Wonder Woman, at $149 million, while the highest was 2017’s Justice League, which had a budget of $300 million.
The film, simply titled Joker, promises to be an “exploration of a man disregarded by society [that] is not only a gritty character study, but also a broader cautionary tale”.
Phoenix set to be joined by Robert De Niro, Zazie Beetz, and Marc Maron.