'La La Land' could become a live stage show

Speaking to investors at the studio's Investors Day presentation, he said: "If we want to do a stage show, we can do a stage show. We haven't hit our full expansion."

And the idea may not be completely off the wall as Feig pointed out how Lionsgate's Step Up franchise has inspired a live stage show in Dubai.

Meanwhile, 'All Of Me' hitmaker John Legend - who acted as one of the ex ecutive producers on the hit movie and played bandleader Keith in the film - insisted he wasn't keen on the idea of the film getting a follow-up sequel despite its success and popularity.

He previously said: "I don't know if these things have sequels. I don't know if it's that kind of movie. But if it is and Damien wants me to do anything I'd love to work with him again on anything he's doing."

But he did enjoy being a part of the film, adding: "He's a wonderful director and filmmaker and I'm glad that he asked me to be a part of the film."

'La La Land' has also racked up a number of other nominations including 11 nods at the British Academy Film (Bafta) Awards and five at the London Critics' Circle Film Awards whilst also taking home eight gongs at the Critics' Choice Awards 2016 in December.