Paul McCartney is writing a musical adaptation of Frank Capra’s much-beloved Christmas classic It’s A Wonderful Life, which in turn was based on a 1943 short story by Philip Van Doren Stern called “The Greatest Gift.” It’s the first musical that the Beatle has worked on, and he’s partnered with producer Bill Kenright and screen/playwright Lee Hall.

“Like many of these things this all started with an email,” McCartney said in a press statement. “Bill had asked if it was something I might be up for. 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. It’s A Wonderful Life is a universal story we can all relate to.”

About the music McCartney has been writing, Kenright said: “They exceeded expectations for both of us. The songs take you somewhere you don’t expect to go. They sound simple – but it’s deceptive. That’s Paul’s genius. I don’t have to tell any lover of music how extraordinary he is – but he constantly takes my breath away.”

McCartney is still finishing up the songs, and the musical is set to launch late next year.