Apr 08, 2015 09:47 PM EST

Disney Announces Live Action Pinocchio Film

On the heels of Disney's live action Cinderella success, the company has announced that they will now release another live action version of one of their classic animated films - Pinocchio.

Don't expect this to be the last live action update, either. There are quite a few more of these films that are in development such as The Jungle Book, Beauty and the Beast, Mulan, and Dumbo, which will directed by Tim Burton.

Pinocchio is a character originally created by Carlo Collodi, who penned the 1883 novel, The Adventures of Pinocchio. Disney released their animated version of the story in 1940.