Two new "Transformers" projects are being developed simultaneously as Paramount Pictures is looking to revamp the franchise, according to an individual with knowledge of the project.
Joby Harold ("Army of the Dead") and James Vanderbilt ("Zodiac") will write each respective movie. Plot details are being kept under wraps and no directors are currently attached to each.
For years, "Transformers" was the ultimate critic-proof franchise. Reviews for films like "Revenge of the Fallen" and "Dark of the Moon" were overwhelmingly negative, but fans and families showed up in droves every summer that one of these films came out, to the tune of over $1 billion each.
"Transformers" peaked in 2011 with its third installment, "Dark of the Moon," with $1.12 billion, a year in which Paramount led all studios with $1.95 billion grossed domestically with 19.2 percent market share.
"The Last Knight," despite being the first film in the series to gross less than $200 million domestically, was Paramount's top release in a 2017 where the studio only grossed $534 million domestic with a market share of just 4.8 percent.
The Travis Knight directed "Bumblebee" grossed $127.2 million domestically, and $340.8 million internationally, for a total worldwide gross of $468 million, against an estimated production budget of $135 million. "Bumblebee" earned a franchise-best 93 percent score on Rotten Tomatoes.
Harold, who worked on the last two "John Wick" movies is repped by Kaplan/Perrone Entertainment and Goodman Schenkman. Vanderbilt's co-wrote the Andrew Garfield-starring "Amazing Spider-Man" movies and also wrote Netflix's Adam Sandler hit, "Murder Mystery." Vanderbilt is repped by UFUSE Management and McKuin Frankel.