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'Toy Story 5' and 'Frozen 3' Are in Development at Disney

Disney CEO Bob Iger announces more sequels in the animation franchises.

More toys are in the works at Disney.

Disney CEO Bob Iger said Wednesday that a slew of popular animated movie sequels are on the way, including new installments in the Toy Story and Frozen franchises.

"I'm so pleased to announce that we have sequels in the works from our animation studios to some of our most popular franchises -- Toy Story, Frozen and Zootopia," Iger said in Disney's earnings call for the year-end 2022 quarter on Wednesday. Iger continued that Disney would have more to share about the productions soon.

While 2022's Lightyear, a prequel to the Toy Story movies, underperformed at the box office, Toy Story 3 and 4 both made more than $1 billion at the worldwide box office respectively. Frozen 2 also surpassed the $1 billion mark when it was released in 2019.

Toy Story 4, released in 2019, earned critical acclaim with a 97% Rotten Tomatoes score. Frozen 2 came out the same year and earned 77%, a drop from the 2013 original Frozen's 90% score.

In a tweet Wednesday, actor Tim Allen confirmed his return as the voice of Buzz Lightyear, quoting a line from the first movie in the series. "See ya soon Woody, you are a sad strange little man and you have my pity," he wrote. "And off we go to a number 5! To infinity and beyond!"

Allen has played the toy version of Buzz since 1995, but Captain America actor Chris Evans voiced an alternate take on the character in Lightyear.

Frozen star Kristen Bell, who voices Anna, said on Jimmy Fallon in June that she would be up for a third film.

"But I know Idina [Menzel] recently said she would do it," she said, referencing the actor who played Elza. "And I feel like if we're all in, like, what are we waiting for? We want it, let's do it."

On the same call, Iger noted that Disney Plus lost 2.4 million subscribers in the last three months of 2022, representing the first drop in the streaming service's numbers since its 2019 launch. He also confirmed the company will cut 7,000 jobs as it tries to control costs.