The blockbuster Twilight saga is to be revived in the form of short films and released on Facebook.com.

The fifth and final installment of the hit vampire franchise, The Twilight Saga: Breaking Dawn - Part 2, was released two years ago, but bosses at the Lionsgate studio have decided to resurrect the story online, according to The New York Times.

Film executives have teamed up with bosses at Facebook to finance five mini-movies titled The Storytellers - New Creative Voices of The Twilight Saga, which will be based on the franchise's characters.

Five aspiring female directors will be chosen to helm the short films by a judging panel which includes series star Kristen Stewart, series author Stephenie Meyer, Twilight director Catherine Hardwicke and actresses Kate Winslet, Octavia Spencer and Julie Bowen.

The films, which will not feature any of the original cast members, are slated to premiere on Facebook in 2015.