Dumbo — yes the Disney movie you loved as a kid — is going to join the likes of Beauty and the Beast and The Lion King. According to The New York Times, Disney Theatrical Productions and notorious theater director Stephen Daldry are developing an adaptation for the stage of the 1941 movie Dumbo.

Several months ago, Daldry, approached Disney with the idea, and how could Disney say no to the director who brought to the stage Elliot Smith: The Musical? Now, Dumbo (the musical) is in its initial stages. A creative team has yet to be assigned, and because of it, Dumbo won’t be hitting Broadway or any theater, any time soon. An executive for Disney said Wednesday afternoon:

“Let’s put it this way, Dumbo will not be on Broadway in the 2010-11 season, because it’s simply in the very early stages.”

There’s a chance that Dumbo won’t even make it to Broadway because so many projects aren’t good enough and there’s only so much space — however this project seems promising.

Daldry is said to be one of the greatest theater directors (if not the greatest director) right now. And Dumbo has the elements to be good on stage. There’s a good story (like most of the classic Disney Animated series do) and a great soundtrack. There’s the happy-go-luck “Casey Junior,” the catchy “Pink Elephants on Parade” (small pink elephants prancing around an Elephant’s head would look amazing on stage), and the burlesque number “When I See An Elephant Fly” — all of which work for Dumbo on Broadway.

Disney’s Beauty in the Beast and The Lion King were huge commercial hits when they hit Broadway. In the hand of Daldry, Dumbo will be great, I can feel it.

What do you think of Dumbo being adapted to the stage?