Hasbro Working on 'My Little Pony' Movie

My Little Pony - TV Still - 2010

The animated film will be produced and financed by the toy company with a planned 2017 release

Hasbro has greenlighted an animated film about its My Little Pony toy line, producing and financing the movie in-house via its Allspark Pictures film label, The Hollywood Reporter has confirmed.

Joe Ballarini (Dance of the Dead, Father vs. Son) is writing the script for a planned 2017 release.

Read more 'My Little Pony: Equestria Girls — Rainbow Rocks': Film Review

The My Little Pony movie comes on the heels of Hasbro's Jem and the Holograms film, also based on a popular 1980s toy line, which Universal Pictures is set to release in theaters on Oct. 23, 2015.

The My Little Pony line has already been the subject of animated TV series, including one currently airing on Discovery Family Channel (formerly The Hub), and home-entertainment movies.

Read more Marvel, 'Transformers' Toys Boost Hasbro Earnings

5:53 p.m. An earlier version of this story may have incorrectly suggested that Ballarini was the credited screenwriter for Ice Age: Continental Drift. While Ballarini was an uncredited writer on the 2012 animated film, Michael Berg, Jason Fuchs and Lori Forte shared screenwriting credits on that movie. THR regrets the error.