Developer Dontnod today announced that they are working on another Life Is Strange game. In the same announcement, the development team also revealed that Life is Strange recently hit the three million unique players mark. Granted, the team does not call the new game Life is Strange 2, or call it a sequel. So it could be a spin-off or side-story, rather than a direct sequel. it's a bit early to call it a reboot, since the final episode of Life Is Strange hit just last year.
The studio is also working on a new Vampyr game as well.
The announcement from Dontnod is below.