Sir Paul McCartney, one of the most successful composers of all time, has today announced that he will use his exceptional talent for melodies and compositions for a theatrical adaption of It's A Wonderful Life. This will mark McCartney's first attempt at musical theatre.

For the musical version of It's A Wonderful Life, the former Beatle teams up with film and theatre producer Bill Kenwright and screen and playwright Lee Hall, famous for his work on Rocketman and Billy Elliot.

"Writing a musical is not something that had ever really appealed to me but Bill and I met up with Lee Hall and had a chat and I found myself thinking this could be interesting and fun", McCartney says in a press release.

The 1946 movie, that the musician describes as "a universal story we can all relate to", follows James Stewart as George Bailey, a man who contemplates suicide on Christmas Eve. An intervention of his guardian angel reminds him of the value of his life and stops him from killing himself.

According to Kenwright, McCartney's very first demos for the musical instantly struck a match with him: "To be honest, I was hooked on first hearing him say 'One, two, three, four' on the demo of the opening number." After all, he's Paul McCartney. "But since then it's been an extraordinary journey, on every song I experience Paul's unique gift of melody and composition. It's musical theatre, but it's always McCartney."

Lee Hall, who pens the book and the lyrics for the musical, is equally excited about the involvement of the music legend, stating: "Paul's wit, emotional honesty and melodic brilliance brings a whole new depth and breadth to the classic tale. I feel as if an angel must be looking after me."

It's speculated that the musical version of It's A Wonderful Life will come to theatres in 2020.