The Sponge Bob Square Pants Movie 2 trailer has been released, which will excite the young fans of the hit Nickelodeon show. The title of the movie will be called The SpongeBob Movie: Sponge Out of Water!

Since the start of the show, the network has launched a video special every five years, with the first movie hitting theaters in 2004.

Five years later in 2009, they released a special on TV entitled, "Truth or Square."

They now plan to release a second feature length movie in 2015 to celebrate the 15th anniversary of the massive hit show.

On Facebook, SpongeBob's production team answered fans' questions on why they thought making a sequel was necessary and appropriate now.

"In 2012 SpongeBob SquarePant's ratings dropped 29%. With Paramount Animation's new film studio, they wanted to do something about it by making this movie. It took a while for Stephen Hillenburg (Writer/executive producer of the film and creator of spongebob) to think of a story for this movie, he later said 'I think I got a plot that's worth 90 minutes.' They are basically trying to improve the show."

Also revealed on the Facebook post, the sequel will show pirate, Alameda Jack, who will steal the Krabby Patty formula in one of the plot rumors doing the rounds right now.

It is said that Alameda Jack will be played by Antonio Banderas, and the only way to retrieve the formula is to travel on land.

The SpongeBob Movie: Sponge Out of Water! will be written by Jonathan Aibel and Glenn Berger. It is being directed by Paul Tibbit, and is set to release on Februrary 6, 2015.