The BAFTA-winning director also confirmed that his film marking the Madchester band's reunion should be completed by Christmas.
"I was hoping to get it out by Christmas," he told BBC News. "But over this weekend alone we were going to shoot 180 to 200 hours of footage.
"We've got 35 cameras out there - I feel like I'm making the Titanic at the moment. I want to get it out by Christmas. That's the dream."
Of shelving plans for his latest This Is England TV follow-up, Meadows explained: "The mad thing for me is, I was supposed to be doing This Is England '90. That was the one I was looking forward to the most because I was going to get to use the Roses' music.
"And the only thing that could have superseded me doing that was the Roses themselves reforming and asking me to make that film. It was kind of like whatever I'm doing, I'll put down because that's like the job of the world for me."
This Is England '88, which aired on Channel 4 in December, won impressive ratings and critical acclaim.
The 39-year-old filmmaker also revealed that he has halted production on another "massive budget" movie.
Comedian Nico Tatarowicz last Thursday released a spoof documentary covering the Roses' reformation.
Watch Tatarowicz's 'The Second Second Coming' below: