The studio has acquired the rights to several classic songs from the late musician’s catalog and is to develop a film musical based around these.
Variety reports that the film will not be a biopic, but an original narrative with Prince’s music driving the plot.
Troy Carter of Atom Factory, the entertainment advisor to Prince’s estate will executive produce along with Jody Gerson of the Universal Music Publishing Group.
One of the most successful musicians of all time, Prince sold more than 100 million records worldwide. He won eight Grammy Awards, a Golden Globe Award, and an Academy Award for the 1984 film “Purple Rain.”
Universal Pictures has previously produced musicals such as “Mamma Mia!” and “Pitch Perfect,” and will also be developing “Last Christmas,” featuring the music of the late George Michael.