The studio’s chief creative officer, John Lasseter, announced the movie was in the works at Disney’s annual shareholder meeting.
Walt Disney Animation Studios is developing a sequel to its blockbuster movie “Frozen,” the studio’s chief creative officer, John Lasseter, said on Thursday.
Lasseter announced the movie was in the works at the Disney DIS 3.78% annual shareholder meeting.
Disney’s first ice princess movie was the top-grossing animated film of all time, and it’s on track to become one of the most profitable franchises, too.
Shares of toy maker Mattel MAT 4.79% jumped more than 5% on the news, as Mattel made dolls based on the first “Frozen” film.
The toy industry’s sales growth last year was largely driven by “Frozen,” which NPD Group estimated generated $531 million in toy sales in the U.S. In 2014. But perhaps investors should have focused their attention on rival Hasbro HAS 1.44% , which saw a more modest increase to its share value but will take over the merchandising rights to make “Frozen” toys beginning in 2016.
For more on the movie and Disney’s tech empire, read Michal Lev-Ram’s Frozen: Do you wanna build an empire?
At Thursday’s meeting, Disney’s shareholders re-elected Chief Executive Officer Bob Iger and nine other directors and defeated a proposal to split the chairman and CEO roles at the media giant, according to preliminary vote tallies released.
Also at the meeting, Iger said Disney will release the eighth installment in the “Star Wars” sci-fi film series on May 26, 2017.
Iger also announced that a spin-off from the franchise set for release in December 2016 will be called “Rogue One.”
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