Nintendo will make The Legend of Zelda film after the success of Mario

Nintendo announced plans Wednesday to develop a live-action film of The Legend of Zelda, one of its most popular characters, as the video game giant seeks to replicate the success it enjoyed with the Mario film .

Shigeru Miyamoto, creator of Zelda, and Avi Arad, president of Arad Productions Inc., which has been a producer on several hit Marvel films, will produce the Zelda film.

Nintendo is looking to capitalize on its strong bank of recognizable characters in areas like movies, hoping to entice users to purchase its gaming console, the Switch. The Japanese company was likely buoyed by the success of the “Super Mario Bros.” film, which has generated more than $1 billion at the box office since its release in April. The film was produced in collaboration with Universal Studios.

Investors feared that sales of the more than six-year-old Nintendo Switch console had peaked. But the Mario movie made people buy the console and the games. That’s one reason Nintendo raised its full-year profit and sales forecasts on Tuesday.

Nintendo is hoping for similar success with the Zelda movie. And the company is also looking to capitalize on the recently released “The Legend of Zelda: Tears of the Kingdom” game, which has sold more than 19 million units since its release in May.

Investors are likely hoping for the same with Nintendo shares up 6% in Japan on Wednesday.

“By producing Nintendo IP (intellectual property) visual content itself, Nintendo is creating new opportunities for people around the world to access the world of entertainment that Nintendo has built, through various means outside of its consoles. dedicated games,” Nintendo said. said in a statement Wednesday.

Nintendo will co-finance the Zelda movie with Sony Pictures. Nintendo will finance more than 50% of the film and Sony Pictures will handle theatrical distribution. Wes Ball will direct the film.

Disclosure: Comcast is the parent company of NBCUniversal and CNBC.