Fresh off his success in Iron Man, which helped to revitalize his career, Robert Downey Jr. teamed with Jude Law and director Guy Ritchie to make Sherlock Holmes. The movie kept the period setting and basic outlines of the detective and Dr. Watson, created by Arthur Conan Doyle, but added modern action twists and cheeky humor.
Earning more than $524 million at the box office worldwide, the movie was followed by a sequel two years later. Sherlock Holmes: A Game of Shadows proved even more popular, grossing more than $545 million in earnings.
Even before the sequel opened, writer Drew Pearce (Iron Man 3) was hired to work on the third installment, but the project stalled out. Three years later, Downey said: "We want it to be the best of the series, so that's a pretty tall order."
Two years further down the road, now comes a report that a so-called "writers' room" has been formed to "help shape" Sherlock Holmes 3, according to Variety. Nicole Perlman (Guardians of the Galaxy), Justin Malen (Baywatch), Gary Whitta (Rogue One: A Star Wars Story), Geneva Dworet-Robertson (Tomb Raider) and Kieran Fitzgerald (Snowden) have been selected to work together to develop the story and screenplay.
The "writers' room" concept is quite common for television series and has recently been adapted to develop sequels and spin-offs for the planned Transformers movie universe as well as Universal's classic monster movies. It sounds unusual for multiple writers to be brought together to work on just one movie, but it seems possible that if more great ideas are fleshed out, that would lay the groundwork for future installments of the Sherlock Holmes series.
Downey is still attached to star and it's hoped that Jude Law will return as Dr. Watson and Guy Ritchie will direct once again. We hope this means we'll be able to see Sherlock Holmes 3 in the next couple of years.