Hasbro Studios has given approval to move forward on a new My Little Pony movie.  Based on toy sales, and direct-to-video sales among children ages 3-6 years old, the property has become a multi-million dollar empire, and Hasbro plans to exploit its popularity further by releasing a My Little Pony movie in 2017.

The colorful characters of My Little Pony, with manes and distinguishing “cutie marks” on their wings, were first introduced in 1983.  The franchise has launched four different animated series, and has been revamped over the years, enjoying strong sales in the 1980s and then again in 2010, with its popularity driven by well-received television shows.

Apart from a limited theatrical run for the pilot of the humanoid Equestria Girls spin-off in 2013, Hasbro’s long-running franchise hasn’t been seen in movie theaters since My Little Pony: The Movie in 1986.

Hasbro Studios has taken the reins of the My Little Pony franchise, and plans to produce and finance the new project in-house.  Joe Ballarini (Ice Age: Continental Drift) will pen the screenplay, while Friendship is Magic writer/producer Meghan McCarthy will executive produce.  According to Stephen Davis, President of Hasbro Studios, Global Entertainment and Licensing for Hasbro Inc., “We are in discussion with studios to release the film on the broadest possible number of screens.  We’re very excited about the potential of this movie.”

In recent years Hasbro has witnessed the success of several movies based on its properties, including the Transformers and G.I. Joe franchises, as well as the recently released Ouija.