"My Little Pony" movie release date set for 2017 according to Variety. Reportedly, Hasbro's popular cartoon franchise will be produced through Allspark Pictures, a new label through which the company will self-finance or pair up with other companies to co-finance a slate of film projects.

According to Variety, Hasbro Studios will be producing and financing "My Little Pony" in-house. Stephen Davis, president of Hasbro Studios and global entertainment and licensing for Hasbro Inc. said that the studios are considering releasing the movie "on the broadest possible number of screens" expressing that they are "very excited about the potential of that movie."

"We will continue to make big tentpole movies with our studio partners," Stephen Davis, said in a statement, "but there is another set of movies where we feel we have an opportunity to have a bit more control over the budgeting, financing, calendarization, marketing and creative of our films. There are new economic models that fit certain films."

"We have a lot of experience working on this particular brand. Film and TV is a key driver and very important part of the building blocks for a company like Hasbro. It's where we want to use great stories to activate our brands," he added.

Comic Book Resources described My Little Pony as: "A popular toy line and cartoon in the 1980s, the property was resurrected in 2010 as My Little Pony: Friendship is Magic by Lauren Faust for The Hub, and has gone on to become a cultural phenomenon, drawing in kids and adults of both sexes."

According to the online resource, Megan McCarthy who produced and wrote Friendship is Magic, is co-executive producing the project written by Joe Ballarini, who penned the high-school zombie jamboree Dance of the Dead as well as the upcoming supernatural adventure film Atlantis 7.

Are you excited to see your favorite characters in the big screen?