Monsters, Inc., will be the company's fourth animated film in the last few years, following Toy Story, A Bug's Life, and the upcoming sequel to Toy Story, due out in 2000.
"We're very excited," said Katherine Singson, director of marketing for Pixar, adding that Monsters, Inc. has been in "story development" for the last two years. Singson declined to discuss the film's budget, but estimated that 150-175 employees would work on the project during the next two years.
Pixar has not finalized which voices will be used in the movie, she said. "We always try to get the best voice cast for each film."
The movie is a comedy "set in the realm of things that go bump in the night, where chaos breaks loose after a hapless monster accidentally lets a human child into the secret world," according to a Pixar statement.
Monsters, Inc. will be targeted for release in 2001, and is being directed by Pete Docter and David Silverman. Docter received an Oscar nomination for the original Toy Story, while Silverman has worked on the animated television series The Simpsons, where he received an Emmy for his work, according to Pixar.
The new movie is not the only good news this week for Jobs. Apple, whose iMac computers have owned a place on the lists of best-selling retail computers almost since their arrival, yesterday saw its stock hit a 52-week high.