Now You See Me was a huge hit for Lionsgate in the summer of 2013, grossing more than $350 million. So it's no surprise that the studio was quick to reassemble the cast for Now You See Me 2: The Second Act. The movie won't be released until summer 2016. But in a somewhat surprising move, Lionsgate has already announced that Now You See Me 3 is in development.

The announcement comes as part of Lionsgate's improved strategy to focus on franchises. CEO Jon Feltheimer revealed the news earlier today during a Lionsgate conference call with analysts to discuss quarterly earnings. He explains:

"We've already begun early planning for Now You See Me 3."

Production has already wrapped on Now You See Me 2: The Second Act. Appearing in the movie from the original are Jesse Eisenberg, Woody Harrelson, Dave Franco,Morgan Freeman and Michael Caine. Newcomers include Daniel Radcliffe, Lizzy Caplan and Jay Chou. Isla Fisher will not be back. There is no word on whether or not everyone else is returning for Now You See Me 3. And a production start date was not announced. It's expected that the third chapter will be in theaters sometime in 2018, but that is not confirmed.

B. Alan Orange at Movieweb
B. Alan Orange