Lionsgate has confirmed that a fifth installment of the wildly popular "John Wick" franchise will be developed.

During the company's earnings call on Thursday, Lionsgate announced that a fifth installment of the popular Keanu Reeves-led action film franchise will be developed and shot in conjunction with the fourth film.

`We're also busy preparing scripts for the next two installments of our 'John Wick' action franchise, with 'John Wick 4' slated to hit theaters Memorial Day weekend 2022,` Lionsgate CEO Jon Feltheimer said on the call. `We hope to shoot both 'John Wick 4' and '5' back to back when Keanu becomes available early next year.`

`John Wick 4` is currently scheduled to premiere on May 27, 2022. The film was delayed earlier in the year due to Hollywood's ongoing production issues. No other details about the fifth installment in the franchise were provided during the earnings call.

While the fifth installment in the franchise is likely quite a few years away from release, the mere fact that it's coming should thrill fans of the acclaimed action series. All three `John Wick` films have enjoyed considerable box office success and have received widespread acclaim from critics. IndieWire's David Ehrlich praised the third film in his review last year, which boasted a suitably succinct headline: `Keanu Reeves Kills Everybody in Breathtakingly Violent Sequel.`

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Mr. Wick is back for more. Lionsgate has confirmed a #JohnWick5 is in the works and the next two installments will film back to back. Link in bio for all the details on the Keanu Reeves-starring franchise.

A post shared by Hollywood Reporter (@hollywoodreporter) on Aug 6, 2020 at 3:52pm PDT

The `John Wick` franchise might be one of the entertainment industry's most popular action IPs, but director Chad Stahelski said last year that regardless of how long the franchise continues, the `John Wick` films will always `boast the stripped down-to-the-bone practical action scenes and storytelling` that differentiate the films from Hollywood's typical serialized installments in popular franchises.