My Chemical Romance is widely considered one of the most influential pop-punk bands of the 2000s. The band is known for its four studio albums: I Brought You My Bullets, You Brought Me Your Love (2002), Three Cheers for Sweet Revenge (2004), The Black Parade (2006), and their latest studio album, Danger Days: The True Lives of the Fabulous Killjoys (2010).
My Chemical Romance went on hiatus in 2013 but reunited in 2019. The reunion of the band in 2019 sparked hope among fans of a possible fifth studio album. Speculation has been going on for years, and has even become an inside joke in the community, with those who believe in the fifth album calling themselves “MCR5 truthers.”
“MCR5” is an abbreviation for “My Chemical Romance 5,” referring to the speculated fifth studio album. But is there any real proof the band is considering a new album? Not exactly, but fans point to a few hints.
In June of 2023, popular creator within the community, Bex Valentine, reported that Mikey Way, the bassist of My Chemical Romance, liked one of the MCR5 speculation reels posted on her @xhalloweeniex Instagram page.
Though this is not solid proof, it’s at least a sign that the band knows fans are speculating about a new album.
Then in August of 2023, Frank Iero, the guitarist of My Chemical Romance, posted a cryptic fortune-cookie message on his Instagram story, reading “Let’s finish this up now, someone is waiting for you on that.” Fans speculated that this may have been a hint at MCR5.
In November of 2024, My Chemical Romance announced a new dictatorship-themed tour, called Long Live The Black Parade. On July 26, 2025, to many fans’ surprise, the band played a never-before-heard song called “War Beneath the Rain” during their tour stop in Los Angeles. According to fans, the song was rumored to be from an unreleased album called The Paper Kingdom.
This reignited the discussion surrounding MCR5, and fans began calling on the band to release the studio version of War Beneath the Rain. The band’s latest single, The Foundations of Decay, was released in 2022.
With the band now announcing a 2026 Black Parade tour, fans are once again speculating about what this means for MCR5. Some say it’s unlikely they’ll release anything until the tour ends, while others are still holding out hope that MCR5 will eventually see the light of day.
We reached out to Warner Records for comment, but have not heard back.
