Pixar's iconic animated comedy film Monsters, Inc. is getting a third movie after 13 years.

The new movie was announced in a recent Wall Street Journal profile that documented Pixar's work and growth as it recently released its latest feature Hoppers.

A director hasn't yet been attached to the film, while plot details and a tentative release date have also been kept under wraps.

Monsters, Inc. was released in 2001 and helmed by Pete Doctor. Written by Andrew Stanton and Daniel Gerson, the film centred on monsters who are entasked with the responsibility of scaring children to generate power for the city. The leads James P "Sulley" Sullivan and his one-eyed best friend Mike Wazowski's lives are changed after they meet a human girl Boo who sneaks into the factory. While bonding with her and trying to return her home, the duo realise that the factory hides secrets and their job may not necessarily require scaring at all.

The film was a major hit at the box office, earning $528 million worldwide. The film went on to win the Academy Award for Best Original Song for 'If I Didn't Have You' and was nominated for the inaugural award for Best Animated Feature, as well as Best Original Score and Best Sound Editing.

A prequel titled Monsters University, directed by Dan Scanlon hit theatres after 12 years in 2013, revolving around the backstory of Sullivan and Mike during their college days, and how they became close buddies. A sequel series titled Monsters at Work premiered on Disney+ in July 2021 and ran for two seasons.

Apart from the Monsters franchise, Pixar is also developing several other major sequels of hit films. These include Toy Story 5, set for release in June. The studio is also planning The Incredibles 3, scheduled for 2028 and directed by Elemental filmmaker Peter Sohn, along with a sequel to Coco, which is currently expected to arrive in 2029.