Percy Jackson Sequel Moving Forward

Despite the first one not proving much of a hit with critics or at the box-office, Fox 2000 has begun development on a sequel to last year’s “Percy Jackson and the Olympians: The Lightning Thief” reports The Los Angeles Times.

Based on Rick Riordan’s five-book young adult novel series, Scott Alexander and Larry Karaszewski (“Ed Wood,” “Agent Cody Banks”) have been hired to adapt the second novel in that series “The Sea of Monsters”.

The first first film introduced the world to an ordinary boy who learns he is the son of the Greek god Poseidon and many elements from ancient Greek mythology still exist today. This second adventure has him and his friends following in the footsteps of Jason and the Argonauts as they head out in search of the mythical Golden Fleece.

Chris Columbus, who direct the first installment, will only return as producer this time. No director has yet been set.

Budgeted at a considerable $95 million, the the first film underwhelmed domestically with $88 million but made up the difference overseas with $138 million. It also was one of the more decent DVD performers in the U.S. with $35 million in sales in 2010. Reviews were decidedly mixed, calling it a not particularly good “Harry Potter” clone, but few outright slammed it either.

Fox is moving fast on this as they want to keep the fanbase interested and avoid disasters like the recent underwhelming domestic box-office performance of “The Chronicles of Narnia: The Voyage of the Dawn Treader”, though internationally that film did huge business – enough to potentially green light another entry.