The project was being developed as an updated take on the Jack and the Beanstalk fairy tale, in which Jack befriends a female giant.
While it's not unknown for studios to shut down animated films already in production, even though they've been announced (see - or don't, because we can't - Pixar's unmade Newt), it's more unusual for movies that have been pimped at a couple of D23 events and been handed release dates to suddenly vanish from the schedules.
Ed Catmull, acting president of Walt Disney and Pixar Animation Studios, issued a statement addressing the decision to drop the project, explaining that the movie "just isn't working".
Very big was first announced in at D23 Expo 2015 and was scheduled to be released in 2020. With 'Gigantic, ' we've come to that point, and although it's a hard decision, we are ending active development for now. Jack discovers a world of giants in the clouds, including the 60-foot-tall, 11-year-old Inma, who he agrees to help on her journey home.
Frozen songwriters Robert Lopez and Kirsten Anderson-Lopez were also attached to write original tunes for the film, with Disney hoping to rekindle that Frozen magic that brought them so much success.
Disney's upcoming animated feature big has been cancelled.
Details regarding the new project were not revealed, although insiders said it would be an original feature.