"Coco 2" is officially in the works at Pixar. The follow-up to the hit animated film "Coco" is in development and set to re-unite the two directors behind the massively popular 2017 movie. Disney CEO Bob Iger announced the development of the new film during The Walt Disney Company's annual shareholders meeting on Thursday.

Disney has announced that “Coco 2″ is in the works. The sequel is set to be released in 2029 and is already in progress at Pixar Animation Studios, according to The Associated Press.

It's evident that both Disney and Pixar trust Unkrich with anything he wants to do, which is why the director has been selected to work on Coco 2. One of the reasons why the studio might be working on yet another sequel could be the fact that Inside Out 2 broke multiple global box office records when it was released last summer.