Though it is a fact that as reported by Variety  ,Jon Feltheimer, CEO of Lionsgate, said that they are already planning the 'Now You See Me 3' a year back, and technically 'Now You See Me 2' is still a big success, the second installment of the movie did not come as huge as 'Now You See Me' did. 

According to Box Office Mojo, Now You See Me 2, which is produced in an increased budget of $90 million, compared to the first part of the sequel,delivered only $320 million which is a whole lot lesser than what the first sequel earned. The movie was unsuccessful to provide higher profit for higher production cost. 

This is the reason why Lionsgate now have doubts about the release of 'Now You See Me 3' despite that fact that Jon Chu already signed as the director of it according to Sportrageous. 

On the other hand,  if 'Now You See Me 3' would happen, Lizzy Caplan, Jesse Eisenberg, Mark Ruffalo, Dave, Franco Morgan Freeman, Woody Harrelson,Daniel Radcliffe and as well as Isla Fisher are expected to be part of the sequel, though nothing has been fully confirmed yet as of the moment, including the release date of the movie which is said to be on 2017.

Most probably the reason why  'Now You See' sequel has been such a hit for the viewers of today, is the fact that the 'heroes' of the story are unconventional, they are not the ones who do good all the time, neither are they the  underdogs of the community.These types of characters are very charismatic for the modern viewers as it is more playful and sometimes even tests the viewers' morality.