"Raya and the Last Dragon" will hit Disney+ and theaters simultaneously in March.

During the Disney Investor Day presentation Thursday, it was announced that the animated feature will be available via Disney+ Premier Access and in movie theaters March 5.

"Raya and the Last Dragon" is about a warrior princess, Raya (voiced by Kelly Marie Tran), who seeks out the last dragon in existence (Awkwafina) to help restore peace to her kingdom.

The film is the latest feature to make its way to Disney's streaming service. "Soul," a film from Pixar, will be available on Disney+ and in theaters Dec. 25.

Earlier this year, the studio released "Mulan" on Disney+ for subscribers with Premier Access, which cost $29.99 and allowed viewers to watch the movie months before it became available to all Disney+ subscribers.

A subscription to Disney+ costs $6.99 per month or $69.99 per year. There is also a bundle option that features Disney+, ESPN+ and Hulu for $12.99 per month. Disney CEO Bob Chapek announced Thursday that Disney+ had amassed 86.8 million subscribers as of Dec. 2.

Disney is the parent company of ABC News and "Good Morning America."