Disney and Pixar's Monsters University has zoomed to the head of the class, The Hollywood Reporter said.

On Thursday, Aug. 29, the long-awaited sequel will cross the $700 million mark at the worldwide box office, becoming the fourth top-grossing film of the year after fellow Disney release Iron Man 3 ($1.2 billion) and two titles from Universal, Despicable Me 2 ($806.8 million) and Fast & Furious 6 ($786.7 million).

It's also the fourth Disney/Pixar title to jump $700 million after Toy Story 3 ($1.06 billion), Finding Nemo ($922 million) and Up ($731 million). Also, Monsters University is expected to surpass Toy Story 3 to become Pixar’s biggest release in China, earning north of $19 million to date.

Monsters University has only one territory left in which to open, Korea, where it rolls out Sept. 12. The toon is helping to fuel one of Disney's best years ever in terms of box office revenue.