Disney announced that it is releasing a sequel to the hit animated movie Moana.

According to a report by CNBC, Disney's CEO Bob Iger made the announcement at the company's earnings call.

"This was originally developed as a series, but we were impressed with what we saw and we knew it deserved a theatrical release," the executive said.

Disney released an announcement video for the sequel on Thursday, February 8. Moana 2 will be released on November 27.

According to its synopsis, the sequel will take "audiences on an expansive new voyage with Moana, Maui, and a brand-new crew of unlikely seafarers. After receiving an unexpected call from her wayfinding ancestors, Moana must journey to the far seas of Oceania and into dangerous, long-lost waters for an adventure unlike anything she’s ever faced."

The sequel will be directed by Dave Derrick Jr. It will feature music by Grammy winners Abigail Barlow, Emily Bear, Mark Mancina, and Grammy nominee Opetaia Foa’i.
Fans online were quick to express their excitement about the sequel.

"Can't wait to see it! My favorite Disney girl!" one fan commented."Epic surprise!! Loved the original Moana movie, had no idea Moana 2 was being made and is coming out this year," another fan wrote.

"I'm definitely looking forward to this!" another fan posted.

The first Moana movie was released in 2016. The film became a blockbuster hit, with gross earnings of more than $682 million globally.

READ:Dwayne ‘The Rock’ Johnson announces ‘Moana’ live-action set to hit the big screen

The movie was directed by John Musker and Ron Clements and co-directed by Chris Williams and Don Hall.

Moana received two nominations at the 89th Academy Awards, namely for Best Animated Feature and Best Original Song.

In November of last year, Dwayne “The Rock” Johnson announced that he is filming a live-action adaptation of Moana.

"My next project that I will be shooting is a live-action version of Moana," the actor announced on The Tonight Show Starring Jimmy Fallon.

He added: "I am the real life Maui. Thank you guys very much. I’m so excited about this."