By Staff Reporter ( | First Posted: Jun 01, 2015 06:00 AM EDT

(L-R) Anna, actor Gavin Casalegno, Ashlyn Casalegno, Morgan Taylor and Elsa attend Disney On Ice presents Frozen Presented by Stonyfield YoKids Organic Yougurt at UNO Lakefront Arena on April 30, 2015 in New Orleans, Louisiana. (Photo : Erika Goldring/Getty Images for Feld Entertainment)

Disney announced that there will be a sequel for 'Frozen' during the company's annual meeting held in San Francisco. Since a sequel is confirmed, rumors regarding the plot and release date are spreading all over the Internet.

The release date for Disney's 'Frozen 2' is set for 2018. This news was confirmed by John Lasseter, the Chief Creative Officer for Walt Disney and Pixar Animations Studios. Although the tentative release date has been announced, there are no further details regarding the plot and the cast.

According to Variety, the sequel does not come as a surprise especially since the movie served as a big moneymaker for Disney following its release back in 2013. The movie also helped restore Walt Disney Animation Studios.

In addition, the movie's directors Chris Buck and Jennifer Lee are teaming with producer Peter Del Vecho for the project. 'Frozen' was able to generate almost $1.3 billion in the box office and became a big merchandising enterprise. It was able to break sales records for home videos as well as in Disney stores.

"We enjoyed making 'Frozen Fever' so much and being back in that world with those characters. Jennifer Lee and Chris Buck have come up with a great idea for a sequel and you will be hearing a lot more about it and we're taking you back to Arendelle. We are so excited about that," John Lasseter, said.

Even if there are no details about the sequel, fans of the film are already coming up with lots of ideas on how the next movie should turn out. According to Vine Report, rumors suggest that there will be a new villain with powers that could be linked to fire. Other rumors include that the sequel might be LGBT friendly and may include issues regarding feminism.

Although other casts are not confirmed, Idina Menzel and Kristen Bell confirmed that they will once again be the voices for Elsa and Ana, respectively. Their lawyers are reportedly negotiating their pay with Walt Disney at the moment.

"It's been such a gift," Menzel said. "When I was in Rent I thought, oh well that's it, you don't get lucky enough to be a part of something this extraordinary more than once. It has happened three times. For whatever reason the universe dropped these in my lap," the actress said on how 'Frozen' changed her life.

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