Disney CEO Bob Iger announced in February that a new “Toy Story” movie was in development, along with new installments in the “Frozen” and “Zootopia” franchises. No further details were provided at the time, but it appears the new “Toy Story” movie will not be another tangentially-related spinoff like “Lightyear,” but a return to the core story centered on Woody and Buzz.
Tim Allen appeared on “The Tonight Show” ahead of Thanksgiving and confirmed both he and Tom Hanks have been contacted by Disney for what sounds like “Toy Story 5.” The actor said “one of the creators of the original series” is behind the film’s script, although he wouldn’t reveal who at this time.
“Bob Iger, head of Disney, said it was on and actually said it was going to happen,” Allen said. “They have reached out to Tom and I to reprise the roles. They’re not saying anything about it…You wonder if four was too many. Is five going to be too much?”
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Allen added, “According to the scuttlebutt, the writer that’s doing it wrote one of the better ones and said, ‘If I didn’t get this right, I wouldn’t do it.’ It could be a very, very interesting way to reunite it.”
“Toy Story 4” opened in theaters in 2019 to rave reviews and over $1 billion at the worldwide box office. The film set a record at the time for biggest animated film launch with a worldwide opening of $244.5 million. Fans were originally concerned that a “Toy Story 4” might ruin the perfect sendoff that Pixar created for the characters in 2010’s “Toy Story 3” (also with $1 billion in ticket sales and the Oscar win for animated feature), but that turned out not to be the case as “Toy Story 4” was equally beloved.
One thing is for sure: Pixar needs a box office hit and “Toy Story 5” is a no-brainer on paper, at least. The studio flopped at the box office in 2022 with “Lightyear” and only slightly rebounded with “Elemental” this year. The decision to send original Pixar efforts such as “Soul,” “Luca” and “Turning Red” straight to streaming on Disney+ during the pandemic had a negative impact on the studio’s theatrical output, although bringing back franchises with “Inside Out 2” in 2024 and “Toy Story 5” in the future should prove beneficial.
Watch Allen’s full appearance on “The Tonight Show” in the video below.
