The actor has become known for his adventurous career choices, and is currently promoting both Disney's Oz the Great and Powerful and a documentary on gay subculture called Interior. Leather Bar.
Speaking to E! News, Franco was asked where he would next like to take his career.
"I'd love to do a musical," Franco declared.
The actor went on to joke that a film musical would be a far more practical choice than a run on Broadway or the West End.
"[It] probably [needs to be] a movie, so they could augment my voice if needed," he teased.
Franco made headlines earlier this week by suggesting that he is partly responsible for near-constant rumors about his sexuality.
His latest film Oz the Great and Powerful opens in US and UK cinemas on March 8. Watch a trailer below:
The many faces of James Franco - photo gallery:
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