We tend to think of Elton John as a piano-playing rock star, but he's also a busy film producer -- and for his next Hollywood project, he's reaching toward Broadway for inspiration.

John's Rocket Films production company has picked up the film rights to 'Joseph and the Amazing Technicolor Dreamcoat,' with an eye toward turning the popular stage production into a family-friendly animated adventure. As theater buffs are no doubt aware, 'Technicolor' was written by Andrew Lloyd Webber and Tim Rice -- and Rice has more than a passing acquaintance with John, as the two of them worked together on songs for 'The Lion King' and 'Aida.'

"'Joseph and the Amazing Technicolor Dreamcoat' is one of the most popular musical experiences ever conceived," said producer Steve Hamilton Shaw. "We are excited about the huge potential of a contemporary animated version, and we're thrilled to bring this to the big screen in partnership with Andrew Lloyd Webber and Tim Rice."

First performed as a 15-minute cantata in 1968, the play took off after Webber and Rice scored a hit with 'Jesus Christ Superstar,' reaching Broadway in 1982; it's enjoyed a number of revivals since, staging successful runs in Canada, Australia, the U.S., and the U.K. (where it's been touring since 2010).

"'Joseph and the Amazing Technicolor Dreamcoat' started in a school and was the first step on the path that led to my musicals with Tim Rice," Webber said. "It is now being performed all over the world by a fourth generation of schoolkids, and a great movie can only help Joseph being part of the lives of many more." Rice echoed his sentiments, adding, "I have always thought 'Joseph' was a strong contender for an animation production, and I'm delighted this is now going to happen."