Now in an interview with GQ Magazine, Reeves reveals the plot for the film, how the time lapse between now and the first sequel has affected the characters, and how time travel will be a factor.
Reeves told the magazine that the characters are older and the weight of responsibility is beginning to bear down on them. As a result they have lost their inspiration to rock out. So they figure if they head to the future and talk to their future-selves they may find a way to create the rock they lost. But things don’t go quite exactly as planned. Here’s Reeve’s exact quote:
“It’s one thing to think about it, but to perform it… One of the plot points is that these two people have been crushed by the responsibility of having to write the greatest song ever written and to change the world. And they haven’t done it. So everybody is kind of like: “Where is the song?” The guys have just drifted off into esoterica and lost their rock. And we go on this expedition, go into the future to find out if we wrote the song, and one future “us” refuses to tell us, and another future “us” blames us for their lives because we didn’t write the song, so they’re living this terrible life. In one version we’re in jail; in another we’re at some kind of highway motel and they hate us.”
So there are parallel timelines where they can tell their past-selves about the dangers of this one song and the affect it could or could not have if they create it. It’s sort of a comedic play on the butterfly effect. This is a pretty big plot detail that Reeves revealed and I am surprised that he even mentioned it. But filming hasn’t even begun and isn’t expected to begin until Parisot completes his work on RED 2, which is expected to be released August 2013. So a lot could change between now and then.