The Witches are Back! Hocus Pocus 2 Confirmed for Disney+

The film will serve as a follow-up to the 1993 film about a trio of witches who are accidentally resurrected on Halloween

From L to R: Sarah Jessica Parker, Bette Midler and Kathy Najimy in Hocus Pocus (1993). Photo: Disney/Kobal/Shutterstock

The witches are back — and there will be hell to pay!

During Disney's Investor Day event on Thursday evening, the entertainment conglomerate revealed that the long-awaited sequel to Hocus Pocus is officially happening!

Set to premiere exclusively on Disney's streaming service, Disney+, the sequel to the 1993 Halloween cult favorite will see Adam Shankman take on the role of director, but no other announcements — including official casting — have been revealed.

In a tweet from the company's official Twitter account, Disney shared, "Coming exclusively to @DisneyPlus is Hocus Pocus 2, the spooky sequel to the 1993 Halloween classic! @AdamMShankman is set to direct."

From L to R: Kathy Najimy, Bette Midler and Sarah Jessica Parker in Hocus Pocus (1993). Disney/Kobal/Shutterstock

Earlier this year in October, Bette Midler — who starred alongside Sarah Jessica Parker and Kathy Najimy as a trio of witches who are accidentally resurrected on Halloween in the film — revealed in an interview with FOX 5, that she, Parker, 55, and Najimy, 63, have all agreed to star in the highly anticipated sequel.

"They want to make a movie, they’ve asked us if we were interested and of course all of us said yes," Midler, 75, said at the time. "I’m game, I’m totally game."

Midler had previously expressed her desire to be involved in the sequel, telling Entertainment Tonight that same month that she would "absolutely" be up for reprising her iconic role as Winifred Sanderson in the follow-up film, adding, "I can't wait to fly!"

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And then, while chatting with PEOPLE around the same time, Midler noted, "They presented us with an outline, and after we picked ourselves up off the floor, because it's been 27 years, we looked at it and I think all of us agreed that it was pretty great."

And while the main stars have agreed to reprise their roles for the sequel, Midler said she was also eager to reunite with the creative team behind the original in order to make the follow-up as special as the first film.

"We're trying to see who's available and who's still out there and still working and who can come back," Midler said. "Because, a lot of the success of what we did on that picture had to do with the team that was surrounded."

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Hocus Pocus bombed at the box office when it was first released, but became a Halloween favorite among families over the years thanks to countless re-airings on television. This year alone, it played a whopping 14 times during Freeform's annual "31 Nights of Halloween."

And as for the Sanderson sisters, Midler said the three regularly keep in touch. "We do see each other," she told PEOPLE. "We've been in touch for years.

"Kathy is a very strong feminist presence in the city, and so whenever she needs someone to show her up or to do a video or to testify or do anything like that, she always calls us," she noted. "I've known Sarah for many, many years, and we have so many of the same friends in common that we do go to dinners and we've been to each other's houses and all that sort of thing."

Midler added: "So we know each other. It's New York, everybody knows everybody."