Four hugely successful films in the sci-fi action series have already been made and now Hasbro Studios President Stephen J. Davis has revealed the adventures of Autobots Optimus Prime, Bumblebee and Drift will carry on with director Michael Bay definitely attached to the sequels.

Speaking at the MIP Junior event in Cannes, he said: ''Well, you're gonna see a new 'Transformers' movie coming from Hasbro and Paramount and Michael Bay and our other partners. In fact, we just finished, which some of you may have read, just an incredible experience. We decided that we wanted to plot out the next 10 years of the 'Transformers' franchise and so we got together in a room over a three-month period of time.''

Production for the fifth film in the series is due to start next year and is scheduled for release in 2017.

But the studio boss added that it's taken a bunch of ''creative'' people, including Oscar winning screenwriter Akiva Goldsman, to make a systematic plan for the franchise up to movie number eight.

He added: ''Nine of some of the most creative writers I have ever worked with, shepherded by Akiva Goldsman, who many of you may know won an Academy Award for 'A Beautiful Mind' and written a bunch of really great movies, and they plotted out the next 10 years of 'Transformers'. Similarly, we're doing the same in television and in digital. So stay tuned, 'Transformers 5' is on its way, and 6 and 7 and 8.''