Elton John’s Rocket Pictures has acquired film rights to Andrew Lloyd Webber and Tim Rice’s global stage phenomenon Joseph And The Amazing Technicolor Dreamcoat.

Rocket plans to make an animated family feature in association with Lloyd Webber’s The Really Useful Group. 

Rocket Pictures CEO Steve Hamilton Shaw and David Furnish will produce with The Really Useful Group. Lloyd Webber, Rice and John will serve as executive producers.

Joseph and the Amazing Technicolor Dreamcoat is one of the most popular musical experiences ever conceived,” said Shaw.

“We are excited about the huge potential of a contemporary animated version, and we’re thrilled to bring this to the big screen in partnership with Andrew Lloyd Webber and Tim Rice.”

The Really Useful Group managing director Barney Wragg said: “Developing Joseph as a new feature film marks the beginning of a new stage in the Really Useful Group’s plans to co-produce and fund new films, television and stage productions from our theatrical shows which play continuously worldwide.”

Webber added: “Joseph and the Amazing Technicolor Dreamcoat started in a school and was the first step on the path that led to my musicals with Tim Rice. It is now being performed all over the world by a fourth generation of school kids, and a great movie can only help Joseph being part of the lives of many more.”

“I have always thought Joseph was a strong contender for an animation production, and I’m delighted this is now going to happen,” said Rice.

Joseph and the Amazing Technicolor Dreamcoat has been seen by an estimated 26 million people and has earned more than $600m at the box office.

Rocket Pictures is producing Rocketman, the musical version of Elton John’s life with Tom Hardy starring in the lead role.

The company is also preparing Sherlock Gnomes, the sequel to Rocket Pictures’ 3D animated title Gnomeo & Juliet, as well as the family animation Will Gallows And The Snake Bellied Troll.