Deadline reports that the recently formed Paramount Animation unit has decided on an original project to be the followup to their next film, The SpongeBob SquarePants Movie 2. Viacom CEO Philippe Dauman says more details will be released soon but it will be “based on original IP”, will have “consumer products possibilities”, and will put them “very much on track to begin with one release per year”. Several other potential projects have been mentioned previously for the studio, including some based on Nickelodeon shows and a comic from the creators of Penny Arcade, but only one, an unknown J.J Abrams backed film, doesn’t appear to be based on other material.