The show took place in 1985, and is widely considered to be one of the greatest concert performances of all time. Freddie Mercury died just 6 years later in 1991, One can only assume that, if there is to be a sequel, it will cover Freddie's tragic death, which would make for a different movie altogether.
Malek scooped the coveted Best Actor award at the Oscars for his performance as Freddie, and told the crowd what the film meant to him.
"I think about what it would have been like to tell little bubba Rami that one day this might happen to him," he said, "and I think his curly-haired mind would have been blown. That kid was struggling with his identity."
He thanked Roger Taylor and Brian May of Queen for letting him be "the tiniest part of your phenomenal legacy, I am forever in your debt"
"We made a film about a gay man, an immigrant, who lived his life just un-apologetically himself," Malek said.
"The fact that I'm celebrating him and this story with you tonight is proof that we're longing for stories like this."
"I am the son of immigrants from Egypt, a first-generation American. And part of my story is being written right now. And I could not be more grateful to each and every one of you, and everyone who believed in me for this moment. It's something I will treasure for the rest of my life."
He attended the ceremony with Lucy Boyner, his co-star in the movie, who he is currently dating. He concluded his speech by giving a special dedication to her.
We should emphasize that, at this point, the rumors of a sequel are just that - rumors. Still, the news is probably pretty exciting for a lot of Queen fans out there.
What do you think, folks - would you go to see the sequel if it came out? Do you think it's necessary? Let us know in the comments.