Mendes said "Rio" director Carlos Saldanha may want to tie the sequel to the 2014 World Cup, which will take place in Brazil.
"I think the plan is for the movie to come three or four months before the World Cup," Mendes said Tuesday afternoon.
"Fox has been talking about (it) and it looks like it's going to happen," he continued. "We're going to have a meeting I think next week and Carlos is coming to town to tell us the story, and it looks like it's a go."
Fox said in an email Wednesday that the "success of the first film was the start of a franchise," but added that "no script or deals" are in place.
Mendes and Saldanha are from Brazil. Mendes said creating music for the film — about birds adventuring to Rio de Janeiro with the voices of Jesse Eisenberg and Anne Hathaway — was special "because that's my hometown."
Mendes shares his nomination with Siedah Garrettd and Carlinhos Brown. He said he's not feeling pressure to create new music for the "Rio" sequel following his Oscar nod.
"I take one thing at a time," he said. "Right now I'm celebrating."
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