You know what you need in your life (according to Paramount Pictures)? Lots more Transformers movies.
According to Deadline, the studio, Michael Bay and producers Steven Spielberg and Lorenzo di Bonaventura are bringing in writer Akiva Goldsman (A Beautiful Mind, Batman Forever, I Am Legend, and a bunch of others) to take charge of a team responsible for coming up with ideas to expand the Transformers universe.
Deadline says the so-called "writers room" will "incubate ideas for a potential multi-part Transformers sequel, and come up with potential spinoff films based on the billion-dollar franchise culled from the Hasbro toy line"
Despite pretty bad reviews, Transformers: Age of Extinction was the third film in the franchise to cross the billion dollar mark, and it makes sense that Paramount is looking to milk everything it can out of the franchise with multi-film storylines and spinoffs around popular characters, sort of the way Disney is doing with Marvel and Lucasfilm, or James Cameron is doing with his Avatar sequels.
As Slashfilm points out, Paramount and di Bonaventura control the rights to the G.I. Joe franchise, which means a Transformers/G.I. Joe crossover might be possible at some point (although there's no evidence of that yet, just really enjoyable speculation).
The next Transformers movie is expected to come out in either late 2016 or 2017. No word on if Michael Bay will direct. Right now he's deep into working on his Benghazi movie 13 Hours.