'Fantastic Beasts 3' to release in 2021

The third installment of the JK Rowling's "Fantastic Beasts" series is set to open in theatres on November 12, 2021, Warner Bros Pictures has announced.

Ron Sanders, President, Worldwide Theatrical Distribution and Home Entertainment, shared the news Monday, Deadline reported.

"JK Rowling created an awe-inspiring universe that has captivated people of all ages, taking us on an extraordinary magical journey. Warner Bros is so proud to be the cinematic home of the Wizarding World and is excited about the future of the Fantastic Beasts franchise. We look forward to bringing the third chapter of the five-film series to audiences around the globe in November 2021," Sanders said.

Toby Emmerich, Chairman, Warner Bros Pictures Group, said the team is looking forward to the new film and has confidence in the "Fantastic Beasts" series.

"We all believe this release date will give the filmmakers time and space to allow their artistry to truly flourish and deliver the best possible film to our fans," Emmerich said.

The series is inspired by the textbook by Newt Scamander, played by Eddie Redmayne in the films, that Harry Potter carries at Hogwarts.

The films follow Newt during the early 20th century in New York and London as he navigates the world's secret community of witches and wizards.

The second film in the franchise, "Fantastic Beasts: The Crimes of Grindelwald", featured Jude Law as younger Albus Dumbledore and Johnny Depp as younger version of dark wizard Gellert Grindelwald. The film released last year.

Production on "Fantastic Beasts 3" is expected to begin in early 2020.