Despite the critical acclaim dropping somewhat for the second film, the Downey Jr.-led "Sherlock Holmes" film series remains a quite viable franchise for Warner Bros. Pictures.
Both films have earned over $500 million worldwide each at the box-office in 2009 and 2011 respectively, and were produced on relatively respectable budgets for tentpoles ($90M and $125M).
Now, Watson himself Jude Law tells Empire that he has already taken a couple of meetings with Warners about going a third one:
"I hate celebrating anything I've done, but I'm so proud of those films. I think it was Joel Silver who said, 'Take it out of that dusty room and put it on the street'.
I think Warners want it, and there's a lot of want from us as a team. We want it to be better than the other two. We want to make sure it's smarter and cleverer, but in the same realm.
Unfortunately scheduling is the main issue for the hold up, with Law, Robert Downey Jr., and director Guy Ritchie all busy with other projects:
It's a slow process. We're all busy. So getting us together to try to nail that has taken a little bit longer than we had hoped."
At last report, Drew Pearce ("Iron Man 3") is penning the script for the project.