Robert Greenblatt Photo: IC

Grease is about to come roaring back with a small screen version called Grease: Rydell High, named after the high school in which the 1978 movie was based.

With Summer Loving, a big screen prequel to the musical also in the pipeline, WarnerMedia Entertainment Chairman Robert Greenblatt revealed Tuesday that a spin-off series based on the musical is in the making. 

Like the original, the updated story will explore teenage angst and peer pressure, the horrors of puberty and life in Middle America.

It will also feature some of the original songs as well as hits from the 1950s, Greenblatt told delegates at MIPCOM, the world's biggest entertainment market in Cannes, France.

"We're going to reinvent it as a musical series, with some of the music of the show, some of the characters. We're going to build out the world of the show that everybody loves... into a big, fun rock'n'roll musical," he added.

"Other ideas are cooking. Grease crosses all kind of genres and, you know, it's hip!" Greenblatt said.

"We are in a moment of time where musicals are really back. It's a form that goes in and out of favor, and it's coming back in a big way," he said.

"Movie studios are making them, people are going to them. Broadway has never been stronger."

Sparked by the success of the 2017 Oscar winner La La Land, Hollywood has taken the form to its heart again with Steven Spielberg shooting West Side Story with a new screenplay by Tony Kushner.

Greenblatt said the new show would be made by Paramount for the US cable network HBO, which would stream it on its upcoming joint online platform WarnerMedia HBO Max.

Paramount also shot a 2016 live version of Grease that won five Emmys.

The new WarnerMedia HBO Max platform, which is set to become a major challenger for Netflix in the streaming wars, is due to go online in the first few months of 2020.