After a poor performance in the box office of "Teenage Mutant Ninja Turtles: Out of the Shadows", will there be a Teenage Mutant Ninja Turtle 3?

"I don't think there's Turtles 3, but I wouldn't say there's never going to be another Turtles movie," said Andrew Form, one of the producers of the antic film franchise, in an interview with Collider.

Form revealed the studio will not risk another failure and will not push through with the third installment of the movie. This is understandable because of the poor outcome of the second movie. He also shared that they were surprised by the failure at the box office.

The "Teenage Mutant Ninja Turtles: Out of the Shadow" proved to be an under-performing sequel. Paramount Pictures provided a massive budget of $135 million, but the movie grossed only $239 million worldwide. The numbers show a huge decline when compared to the 2014 Teenage Mutant Ninja Turtles movie that grossed $493 million worldwide, Comicbook reported.

Although a third sequel for The 'Teenage Mutant Ninja Turtles' may seem out of the question, fans need not feel sad because a Ninja Turtles movie is still possible. Paramount still needs another franchise aside from The Transformers.

"I think one thing we did learn is that you really need to give you can't just add characters to a movie and expect that to be what's fresh. It's a sequel," Form said of the lessons he learned. "You have to give the audience something that's really new and fresh. Maybe just adding characters from the canon, that wasn't enough."

In addition, the characters of Donatello, Michelangelo, Raphael and Leonardo have been part of the lives of those who grew up watching The Teenage Mutant Ninja Turtles, Cinema Blend reported. So, creating another movie would still help them to introduce these extraordinary heroes to their kids and to the next generations.