Disney has officially announced plans to produce a sequel to “Frozen.” The company revealed plans during the Walt Disney Co.'s annual shareholders meeting on Thursday from San Francisco.

The first film's directors Jennifer Lee and Chris Buck are developing the project with producer Peter Del Vecho for Walt Disney Animation Studios, which took home the Oscar for animated feature for the film.

A release date and production details are yet to be announced.

The sequel doesn't come as much of a surprise, considering how the first film continues to be a major moneymaking force for Disney's divisions since its release Nov. 22, 2013 — and helped reinvigorate Walt Disney Animation Studios. “Frozen” generated nearly $1.3 billion at the box office and has become a merchandising juggernaut, breaking sales records on home-video and at Disney's stores.

Outside of a Broadway show and the animated short “Frozen Fever”, Disney has kept its “Frozen” sequel plans quiet until now.

“Frozen Fever”, which reunites the toon's characters and song writers, will unspool in front of Disney's live-action adaptation of “Cinderella” that came out in theatres this weekend.

 “We enjoyed making 'Frozen Fever' so much and being back in that world with those characters,” Lasseter said. “Jennifer Lee and Chris Buck have come up with a great idea for a sequel and you will be hearing a lot more about it and we're taking you back to Arendelle. We are so excited about that.”

Disney used its shareholder meeting to also announce details of its next “Star Wars” films, with Rian Johnson's “Star Wars: Episode VIII,” to bow May 26, 2017, and Gareth Edwards' standalone Star Wars film, “Rogue One” to star Felicity Jones and be released Dec. 16, 2016.

Source: Variety