For at least three years, you'll be getting an annual Transformers fix. According to Deadline, Transformers 5 will open on June 23, 2017, Transformers 6 is coming on June 8, 2018, and Transformers 7 on June 28, 2019.
Michael Bay is expected to direct Transformers 5, but said in a Rolling Stone interview that the fifth installment would be his last. Transformers: Age of Extinction managed to bring in over $1 billion globally despite being a critical disaster. We're not expecting the franchise extension to represent any significant elevation in quality. Paramount knows it can make a ton of money on these movies no matter how bad they are.
Still, Transformers 5 will take a different approach, with the script coming from a collaborative writer's room rather than a single of pair of writers; the group may also come up with stories for potential spinoffs.
Transformers 5 will be competing with the standalone Wonder Woman movie slated to open June 23, 2017. May the best tentpole blockbuster win.