(CNN) As "Beauty and the Beast" waltzes into theaters this weekend, the live-action take on the 1991 animated classic is looking lovely for Disney.

Starring Emma Watson, "Beauty and the Beast" is another reimagined tale for Disney that follows box office hits "Alice in Wonderland" (2010), "Maleficent" (2014), "Cinderella" (2015) and most recently, "The Jungle Book."

Sean Bailey, president of Walt Disney Studios motion picture production, told CNN the company's strategy of adapting its animated classics for contemporary audiences can be traced back to Walt Disney himself.

"We looked a lot at what Walt did," Bailey said. "Walt took these beautiful, timeless stories he knew had lasting relevance, and he then sort of applied the sensibilities of his times."

By design, Disney's live-action remakes appeal to people who are nostalgic for the animated films they grew up with, along with children seeing the stories for the first time.

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