‘Toy Story’ Sequel Will Be Made-For-Video Release

Walt Disney Co. and Pixar Animation Studios will produce a made-for-video sequel to their 1995 blockbuster, “Toy Story,” the companies announced.

Disney, which recently agreed to co-finance five movies with Pixar, said Monday that it has signed up Tim Allen and Tom Hanks to reprise their respective roles of Buzz Lightyear and Woody for the project.

Disney did not disclose when the yet-to-be-named sequel will hit store shelves or its price, but it will probably wait until 1998. “Toy Story” carried a $26.99 price tag.

The agreement by high-profile stars such as Allen and Hanks to appear in the sequel reflects the growing strength of the market for movies made specifically for video release and never shown in theaters. Disney, the king of the home video market, entered the sector several years ago with the “Aladdin” sequel “The Return of Jafar” and was then able to persuade Robin Williams to work again as the voice of the genie in last year’s “Aladdin and the King of Thieves.”

Disney saw “Toy Story,” the first full-length, computer-animated feature from a major studio, pull in a surprisingly strong domestic gross of more than $185 million. It then shipped more than 21 million cassettes for the home video version last fall.

Disney already has a trio of made-for-video sequels due out later this year, starting with “Honey, We Shrunk Ourselves” on March 18, followed by “Pooh’s Grand Adventure: The Search for Christopher Robin” on Aug. 5 and “Beauty and the Beast: The Enchanted Christmas” in the fourth quarter.

It is also planning a live-action “prequel” to “The Jungle Book” called “The Jungle Book: Mowgli’s Story.”