Andy Muschietti's eagerly-anticipated sequel IT Chapter Two will ostensibly also be the final chapter in the story of the Losers' Club vs. Pennywise - but it doesn't have to be. Last year's IT was a staggering success at the box office, grossing more than $700 million worldwide, so it seems almost certain that Warner Bros. will be looking for a way to milk Stephen King's novel beyond a two-part story. Could the IT movies become a full-blown franchise and - if so - what shape might that take?

Warner Bros. has already expanded one horror movie into a sprawling cinematic universe, with James Wan's The Conjuring becoming the seed for the Conjuring Universe - which includes spinoffs like The Nun and Annabelle. IT was an even bigger success than the first Conjuring movie, so it would actually be surprising if the studio wasn't already making plans beyond IT Chapter Two.

Related: What The IT Chapter Two Set Photos Reveal About The Sequel

Horror sequels, prequels and spinoffs can often feel like a lazy cash grab, but that doesn't mean that they have to be. IT actually has plenty of legitimate potential for a continuation - whether through another sequel with Pennywise and the Losers' Club returning, a prequel movie, or an expansion into other Stephen King stories.

Stephen King's IT Is Part of A Shared Universe

While some might roll their eyes at the idea of yet another cinematic universe, Stephen King's own shared multiverse predates the likes of the MCU or DCEU. Those familiar with King's expansive collection of novels will know that IT connects to the mythology of the Dark Tower series, and that the Losers' Club are actually under the protection of a godlike being called Maturin the Turtle. Though Maturin was never explicitly mentioned in IT (Muschietti has said "I was never too crazy about the mythology"), the movie did feature a couple of turtle references. At one point, Bill finds a LEGO turtle belonging to his brother, and at another point the kids find a turtle while swimming in the quarry. There's also turtle wallpaper in Bill's house.

That's not to say that the movies should necessarily expand to explore all of the bizarre corners of King's multiverse and mythology - especially given that Sony's recent Dark Tower movie was a box office flop. However, if Warner Bros. did want to build upon the existing concept of Stephen King's stories taking place in a shared universe (a concept that recent Hulu series Castle Rock played around with), the precedent does exist in the books. But we'll return to the idea of spinoffs and other connected movies later. First of all: could there be a way for Pennywise himself to return after IT Chapter Two?

An IT Prequel Could Show Pennywise's Origins

IT Movie Pennywise in old drawing

Looking to the Conjuring universe for inspiration, one way to bring back Pennywise after his defeat in IT Chapter Two would be to have a prequel movie that reveals more about his origins. According to King's mythology, It is an entity as old as time itself, which manifests in various forms - including as a giant female spider. IT established that the creature has awoken in Derry before, feasting on the town's children, and Ben found drawings of the wicked clown in historical books about the town. With that in mind, a prequel movie could explore one of the previous instances in which It awoke, and could even feature a group of kids who are the ancestors of the present-day Losers' Club.

Page 2: IT Sequels Could Investigate Other Stephen King Monsters

IT Chapter Two Could Leave The Monster Alive

It's not too much of a spoiler to say that the Losers' Club do successfully defeat IT after returning to Derry as adults - in both the book, and the previous screen adaptation. However, Pennywise is a tricky monster and it's not out of the question that It could survive its second encounter and continue to terrorize Derry. It could be interesting to see the Losers face off against It again after another 27 years - recasting the characters once again with actors in their 60s or 70s for IT Chapter Three. There's a lot of potential to go beyond the story that readers are already familiar with, and deliver something with its own surprises and twists.

Alternatively, a third chapter could move beyond the Losers' Club and introduce a modern-day group of kids who find themselves pursued by the murderous clown. As Netflix sci-fi series Stranger Things has demonstrated, there's a real appetite among audiences for stories about plucky kids standing up to murderous monsters.

Related: IT Chapter 2 Is Dodging Spoilers Brilliantly

IT Sequels Could Investigate Other Stephen King Monsters

Danny sees the Grady twins in The Shining

The final, and perhaps most appealing, idea for an IT continuation would be to stay with the Losers' Club, since fans are already strongly attached to these characters, and see them become a kind of Scooby Gang (possibly involving a brightly colored van with everyone crammed into it - we can work out the details later). The strength of the young cast's performances and the chemistry between the actors was a major part of why IT worked so well, and Muschietti has assembled a stellar adult cast for the sequel - including James McAvoy, Jessica Chastain, and James Ransone. Once the Losers' Club has successfully faced down the monster from their childhoods, they may want to go their separate ways or never speak of it again... or they could team up to investigate other strange goings-on.

Obviously this would require Warner Bros. acquiring the movie rights to some of King's other novels, but possibilities include the Losers' Club looking into the haunting of the Overlook Hotel (from The Shining), the mysterious ritualistic murders from Children of the Corn, or the cursed items from the titular shop in Needful Things. There's a deep bench of Stephen King stories to choose from, many of which are set in small towns in Maine, and several of which are - like IT - set in the fictional town of Derry. A cinematic universe that draws inspiration from Castle Rock by casting Derry as ground zero for a series of strange goings-on could work extremely well, if executed properly.

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For now, Warner Bros. appears to be focused on delivering a successful sequel to the first chapter of IT, but we wouldn't be at all surprised if the studio was already trying to figure out a life for the franchise beyond that. As or what form that continuation might take... well, we'll have to wait and see.

More: Every Upcoming Stephen King Movie In Development