'Yellowstone' season 6 could be coming after all. Here's why fans think the series isn't ending.

• Season five of "Yellowstone" ended on Sunday, December 15.
• A teaser for the last few episodes described it as a season finale instead of a series finale.
• Beth Dutton and Rip Wheeler may become the leads for a sixth season — or get their own spinoff show.

Warning: Spoilers ahead for the season five finale of Paramount Network's "Yellowstone."

Season five of "Yellowstone" — also long believed to be the final installment — ended on Sunday, but a recent teaser has fans thinking that there could be more to come.

Since debuting in 2018, "Yellowstone," co-created by Taylor Sheridan and John Linson and centered on an aging rancher named John Dutton (Kevin Costner), has become a smash hit for the network.

Episode 12 of season five, part two (also known as 5B) ended with a preview for the penultimate episode of the season.

In the teaser, the announcer said, "Only one episode left until the season finale of 'Yellowstone.'" Fans latched on to the use of "season finale" instead of "series finale," theorizing that the phrase choice was a subtle confirmation that a sixth season is coming despite a cancellation announcement last year.

Here's what we know about the future of "Yellowstone."

'Yellowstone' director and executive producer Christina Alexandra Voros said that 'the end of an era' was coming

In May 2023, it was announced that "Yellowstone" would end with season five.

"I think this last batch of episodes leads us to the end of an era," director and executive producer Christina Alexandra Voros recently told Variety of the final three episodes of season five.

"It's impossible to talk about it in any detail without tipping my hat towards things to come," Voros continued. "But I think Taylor has managed to — and I'm really not sure how he's done it, I think it's sort of masterful — bring the ending to something that feels both shocking and fated at the same time. You need to get to the end of the story to fully understand everything that has come before."

Actor Ian Bohen, who plays Ryan, shared similar comments hyping up the season five finale.

"I don't know that any show has finished this strongly, ever," he told Entertainment Tonight in April. "We're expecting to have the best series finale in history. Overconfident maybe, but I think that's what it's going to be."

The season 5 finale teased a new chapter for Beth Dutton and Rip Wheeler

Sheridan directed the season five finale, titled "Life Is A Promise."

In the finale, Beth Dutton (Kelly Reilly) avenges the death of her father, John, by killing her adoptive brother Jamie Dutton (Wes Bentley), who was indirectly involved in the patriarch's demise. Then Rip Wheeler (Cole Hauser) disposed of Jamie's body by throwing it off the side of a cliff.

After Kayce (Luke Grimes) sells the Dutton ranch to the Broken Rock Reservation, rather than developers, Beth and Rip are last seen buying a smaller, secluded ranch in rural Montana and moving there with their adopted son, Carter (Finn Little).

Beth and Rip may take over as the leads for 'Yellowstone' season 6 — or get their own spinoff show

In August, Puck reported that "Yellowstone" would continue, focusing on Beth and Rip. According to the outlet, Reilly and Hauser would become the new leads of the series after Costner exited. Costner's character was killed off-screen when season 5B premiered in November.

In early November, Hauser told The Hollywood Reporter that he felt there was more to explore with Beth and Rip.

"You can go on forever about these two. There's no walls when it comes to them, no limits," he said. "And as long as Taylor wants to write something special, I know Kelly and I would be interested to do it."

Then Deadline broke the news that, according to sources close to the production, Reilly and Hauser would reprise their roles to star in a "Yellowstone" spinoff series.

According to Deadline, Sheridan is currently developing the new show, which will likely star other actors reprising their roles from the main series.

Paramount has yet to officially announce a sixth season or spinoff starring Reilly and Hauser, and network representatives didn't respond to our requests for comment. But fans of the neo-Western drama have more to look forward to either way.

Sheridan's TV universe, which includes the "Yellowstone" prequel series "1883" and "1923," will expand with an upcoming "Yellowstone" sequel show called "The Madison," starring Michelle Pfeiffer.