The rebooted Power Rangers movie hasn't even been shown yet but it looks like Lionsgate likes what it has seen so far, so much so that it's considering doing up to seven films and building a full-blown franchise.

Talking to investors and analysts, Jon Feltheimer, CEO of Lionsgate, expressed the company's excitement at the chance to create another franchise.

"We are really really excited about the Power Rangers movie. We could see doing five or six or seven," he said.

Haim Saban's Power Rangers follows the story of five seemingly ordinary kids in high school who discover that the fate of not just their town, Angel Grove, but the entire world is in their hands when alien threat comes a-knocking. But, before doing any saving as they are destined to do, they must first address issues they are having in real life to band together and harness the full power of the Power Rangers before it's too late.

For the reboot, Dacre Montgomery has been cast as the Red Ranger, Jason, with RJ Cyler as the Blue Ranger, Billy; Becky G as the Yellow Ranger, Trini; Naomi Scott as the Pink Ranger, Kimberly; and Ludi Lin as the Black Ranger, Zack, rounding up the team. To threaten the peace, Elizabeth Banks is on board as Rita Repulsa.

The Power Rangers movie will be directed by Dean Israelite, working off a script by John Gatins, Matt Sazama, Burk Sharpless, Ashley Miller, Max Landis and Zack Stentz. Alongside Saban, Marty Bowen, Wyck Godfrey and Brian Casentini will be producing.

Early in May, fans got a first look at the new suits the Power Rangers will be donning and many were not impressed. However, Israelite explained that the suits represent the change that the Power Rangers underwent as kids coming of age.

"These suits needed to feel like they were catalyzed by these kids and their energy, their spirit," he said.

Rita Repulsa's new look also got criticized but it turns out it shares similar design elements with the Power Rangers' suits. According to Banks, the character's new origin is tied to the Rangers, which could explain the similarities.

The Power Rangers movie is now shooting in Vancouver. It is set to hit theaters March 24, 2017.