In the episode, Olivia Wilde is working onRolling Blackout,a slickChinatown-style neo-noirabout the California solar panel racket.

So, he sets out to find the reel himself, recruiting Sal as his second-in-command.

The Missing Reel also gets meta in its filmmaking.

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Butits a bit too on-the-nose in the ways it apes that style.

Still, the search for the missing reel isa surprisingly engaging mystery story full of unexpected twists and turns.

All the clues are there from the beginning, and they get slowly pieced together throughout the episode.

Matt and Olivia Wilde share a nervous glance in The Studio

Image via Apple TV+

Not only is that a great gag; it sets up the ending of the episode.

The Studioreleases new episodes on Apple TV+ every Wednesday.

Although there are some issues with the episodes noir gimmick,The Missing Reel builds to a hilarious ending.

Matt and Sal at a rooftop bar in The Studio

The Studio is a comedy-drama film set in the high-stakes world of Continental Studios. It follows a newly appointed studio head and his executive team as they navigate corporate demands and creative challenges, aiming to maintain relevance in the movie industry. Released on March 25, 2025.

Released on March 25, 2025.

The Studio