James Cameron says Avatar 4 is still "very likely", despite Fire and Ash making almost a billion dollars less than The Way of Water

Avatar: Fire and Ash may not have lit up the box office like its splashy predecessor The Way of Water, but a fourth movie is still on the cards, promises James Cameron.

Following a recent report by Variety that claimed the sci-fi sequel had yet to turn over a profit, despite having pulled in $1.45 billion at the global box office, the writer-director assured fans that a follow-up was "very likely" at the Saturn Awards on March 9 (per Screen Rant). He added that he's taking "audience feedback" into consideration when it comes to determining where the franchise will go.

Starring Sigourney Weaver, Zoe Saldaña, and Sam Worthington, Avatar: Fire and Ash catches up with Jake Sully and co as they struggle to come to terms with the death of their son, Neteyam. As the grief threatens to consume them, though, the fractured family find themselves having to defend their home from the murderous Ash people, or Mangkwan clan, led by the vindictive Varang (Oona Chaplin).

"Here's the thing: the movie industry is depressed right now. Avatar 3 cost a lot of money," Cameron previously explained during an appearance on Taiwanese outlet TVBS News. "We have to do well in order to continue. We have to do well, and we need to figure out how to make Avatar movies more inexpensively in order to continue."

Now more than ever, it seems, with Fire and Ash making a whopping $870 million less than The Way of Water.

While we wait for more news on Avatar 4, check out our picks of the best sci-fi movies or our guide to the most exciting upcoming movies heading our way.